European countries and the Caribbean
European countries and the Caribbean
Charles Hill (2009) states, “Globalization refers to the shift toward a more integrated and interdependent world economy. Globalization has several facets, including the globalization of markets and the globalization of production.” There are a selected number of traditional trade theories supporting globalization concepts. Various theories contain new trade and Porter 's theory, mercantilism, and life cycle. Numerous theories support globalization. Simply put globalization suggests that doing trade beyond nationwide perimeters. Globalization denotes a transfer to greater cohesive and reliant global economy (Hill, 2009). Globalization has various components that instill the globalization of various markets and production (Hill, 2009). The globalization of markets denotes the amalgamation of generally distinctive nationwide markets to an enormous world arena (Hill, 2009). Globalization is not a requirement, although in most cases pays off in revenue and expansion. There are numerous advantages to create emergent indicators. Such as globalization in textbooks, is a country, such as Belgium, and France that benefited from global commerce with chocolate or fashion. Iceland has several resources they cannot produce; the illustration is citrus. Icelanders cannot yield oranges because the climate is not conducive for citrus growth too cold, however, they have an excess of seafood making it a beneficial commodity for Iceland to create trade agreements with countries that can and cannot produce or scarcity.…
Globalization and free trade are controversial issues that cannot be seen from just one side. The author clearly state that globalization benefits the allocation of resources, increase income, world output, variety of goods and is essentially good for the consumer. However, as I like to say, not everything that shines is gold. Globalization is not the immediate response or salvation for the poor and less developed countries in the world. For me, the so called globalization “backlash” has strong reasons that I respect and understand. However, although I recognize that under a free trade…
The late twentieth-century and early twenty-first-century trends towards the continuing integration of the world economy have attracted the attention of geographers who seek to assess the impacts that globalization processes have at various geographic scales.1 The banana has a rich history of globalization, and for this reason, this essay will explore the commodity chain that shows the trajectory that the banana takes in order to be produced in the Caribbean, Latin America and elsewhere, then transported through the sea, next entering grocery stores throughout the world and finally consumed in the homes of millions. Commodity chain analyses allow modern day geographers to understand the process in which a resource is gathered, transformed, and distributed as a commodity to consumers. This understanding is critical in the defetishization of commodities and the appreciation of the relationships of those that have created them. Commodity chain analyses are also fundamental in showing the inseparable role of geography within these processes of commodity production.…
Mintz, Sidney W., and Sally Price, eds. Caribbean Contours. Baltimore: The Johns Hopkins University Press, 1985.…
The accelerating pace of international trade is one of the most dominating, and important features, of contemporary life. Globalization is creating widespread changes for societies, economics, and governments. Since the invention of the steam engine, transportation and communication limits have faded away and, with the development of the Internet, practically disappeared. A case can be made for the proposition that trade, throughout history, has been the main engine for the development of the world as we know it today. In his book, A Splendid Exchange: How Trade Shaped the World, William J. Bernstein makes this case.…
The author of the book, professor Ha-Joon Chang, is not a globalization critic, however, all along the book he points out the harmful policies driving globalization. He takes a historical approach to answer the question of how less developed and poor countries became rich. Chang believes that international trade is essential in order to achieve economic development. Nevertheless, he admits many neo-liberal economic policies are not only hypocritical but also damaging to developing nations.…
JEL Codes: N70, N76, O19, R11. Keywords: Lost decades; Anglo-Latin American trade; Early globalization. 1. Introduction. Few concepts are more fashionable than „globalization‟. Yet, despite the popularity of this term, there is no standard definition of it, and „indeed, globalization is in danger of becoming, if it has not already become, the cliché of our times‟.2 Although several mainstream economic historians tend to work with a rather narrow definition of this concept (i.e. market integration3 and price convergence),4 other, more inclusive, definitions are also widely used by scholars with a background in political theory, international relations or social theory. For example, in perhaps the most influential textbook published during the last two decades on the topic, globalization is seen as…
While globalization is a relatively new phenomenon in theory, but not necessarily in history, as of 2009 it has created transnational corporations linked to government, international economic institutions, and non-government organizations. (Steger 67). With this definition bananas are a textbook example of the globalization of tropical fruit commodities. The transnational corporations of the United States, most notably Chiquita, Dole and Del Monte, have been linked to the governments of Latin and South America, the World Trade Organization, and the “organic” fruit movement. By tracing the path from banana plantations to supermarket it becomes clear how the “morals” of capitalism have permeated into the global banana market by emphasizing cheap labor, indifference towards the environment, and trade liberalization. This commodity chain of corporatized “dollar” bananas demonstrates how globalization benefits the powerfully rich fruit companies and not the countries and laborers where bananas are grown; and further, “dollar” bananas highlight consumers’ ignorance of the food they eat.…
Globalization has triumphed since the last century after the end of the cold war in the late 1980s. It has made extensive efforts to unify the world’s economic order, created tremendous benefits for the countries that participate and is the driving force of economic life on this planet. It has not only spurred the growth of the high-income developed countries but as also brought tremendous opportunities to the developing countries. Globalization is viewed as an inexorable economic integration between countries in terms of technological innovations, cross border trade and increasing foreign direct investment (FDI) due to which national economies are merging into one huge interdependent global economic system.…
Starting in the 1990s, the United States and the European Union (EU) began disputing over the standards and regulations in the exportation of bananas to markets. Some core issues underlying this argument include tariffs, free trade, determining which countries have the authority to export to certain markets, and the strenuous impact the banana trade has on the workers and environment. Although the World Trade Organization (WTO) has made great progress in recognizing political, economic, social, and environmental issues caused by the banana trade, it has neglected to strictly enforce regulations previously set forth.…
“You are what you eat” they say. If you eat too much junk food, you’re going to be in bad shape and your health will go downhill from there. The same blame applies to trade and globalization according to David Sirota’s report “We Are What We Trade and How We Trade It”. From the compelling title choice, we might expect Sirota to make a unique and interesting argument about the controversial topic that is global trade. However, Sirota’s arguments don’t make up for the title choice. Instead, he makes the kinds of arguments that many have done in the past. Arguments concerning the bad shape of our global trading system and the negative consequences thereof.…
Globalization is defined as the “increasing interconnectedness of people and places.” The general assumption by people who are unfamiliar with globalization and its processes is that when less developed countries, such as Madagascar, are affected by globalization, the country reaps from the benefits of the new ideas, policies, programs, and beliefs. Although many of the previously stated things have positively affected Madagascar, the economic and social developments that are seen in Madagascar today show that much still needs to be done to help the struggling country.…
Introduction: For the subject choosing a strategy to overcome effects of EU’s banana policy, I have gone through the whole issue of EU’s banana policy and its effects on the banana business of Latin America in general and Chiquita Brands International in particular. I have also analyzed the way the whole issue has been approached by the company and tried to formulate a plan that may prove successful for the company. Since the present problem is a serious nature threatening the existence of a big player in the banana market, I have tried to go back to history of the company of highly political nature of the international policy making in this trade. I have tried to understand the role of protectionism in the global banana market as it has created a lot of problems for players like Chiquita Brands International. After a careful evaluation of the whole issue threatening the existence of our company, I have tried to find the way out.…
I didn’t realize what a negative toll globalization has had on poorer nations. When richer nations subsidize and sell goods on a massive scale to other nations, especially products like food, they deteriorate the local markets by selling goods at lower prices. I had no idea that the United States was flooding the Jamaican market with produce, meat, milk powder and various other items at prices less than what they even cost to produce.…
One significant result of globalization on the Caribbean is the deepening of regional integration. With the many threats that the Caribbean market was facing due to strong extraregional competition, there existed recognition of the need for Caribbean countries to band together to protect their markets. While free trade agreements were made with countries such as Venezuela, Colombia and the Dominican Republic, the most lasting were done with other Caribbean countries. In 1989, the CARICOM Single Market and Economy (CSME) was created to deepen integration and enhance the bargaining position of these small countries in the international arena. It included many new policies and programs, including a Common External Tariff (CET) which helped break down trade barriers between member states.…