Globalisation and Restructuring

In this week, you will appreciate the pressures and opportunities posed by globalization on the local level. Globalization is conceived as a phenomenon in two tiers. At one level, infinite flows of information, culture, trade, financial flows, and migrants seem to move in all directions around the planet. At another level, globalization is a much more identifiable phenomenon that occurs within closed networks of cities and regions, in which specific actors exchange goods, services, investments and knowledge. As a result, some regions are included and others are excluded. Video 1 addresses the first tier of globalization and defines it as the combination of four flows: trade, financial flows, migration of workers, and their integration in global value chains. This video is prepared by ISS Professor Irene van Staveren, and is part of the MOOC on Pluralistic Economics. You will get a feel of that MOOC too, which we recommend for those that want to deepen their knowledge on economics. Video 2 explores the second level of globalization and maps global networks of cities and regions. It discusses how being included or excluded in these networks affects local economic development. We called this video The Ties that Bind Us. It is offered by South African IHS Professor Ronald Wall.

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