This is the second of the three courses part of the Globalization, Economic Growth and Stability Specialization. This course will focus on facets of globalization that affect a country´s economic perspectives and decisions. Globalization has recently been the predominant subject in many political debates, and this course will go into the determinants of globalization. It will be separated into four modules; the first module will explain exchange rates. It will cover what determines exchange rate and how different exchange rates affect the economy and the reality of currencies. The second module will explore trade, the reality of free trade, and what occurs to a country´s economy with protectionism. The third module will go into the balance of payments, it will help you understand how economic transactions between a country and the rest of the world work. The fourth module will focus on Immigration, which is probably one of the most controversial subjects today. It will explain how migration affects host countries and it will cover current migration trends.
Migration as part of globalization
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Do curso por IE Business School
Trade, Immigration and Exchange Rates in a Globalized World
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Gayle AllardProfessor
Economics
[MUSIC]
When we talked about globalization were normally talking about four kinds of
movements.
Were talking about movements of goods and services.
We're talking about movements of capital and then movements of people.
And as we've said in an earlier session we are living in a period of
Hyperglobalization.
And in line with movements of capital, movements of trade, migration,
as part of globalization, is also at it's highest levels ever.
In 2015 they were close to 244 million international migrants worldwide.
Now this is contrast with only about 71 million in 1960, and
222 million in the year 2000, these are data from the United Nations.
And these migrants are flowing all over the world.
We're seeing a lot of them going south-south as we say,
from developing countries to developing countries.
But two-thirds of them actually live in Europe,
then we can follow that by Asia, North America, Africa.
The largest number of all international migrants, if we go country by country,
lived in the United States, which has one of the world's largest populations, so
that would make sense.
If we look at some slides and just kind of see what these figures are like,
this first slide you can see the total number of migrants in the world and
they are indicated by destination.
And you can see this number that we just referred to, the 242,
243 million in the world in 2015 coming all the way up from 71 million in 1960.
You can see here that most of them, if you follow these different curves,
most of them are going to high income countries.
Let me just mention that these numbers would include refugees.
And refugees are the people that we tend to discuss or debate over the most.
But refugees are actually a small number of total migrants.
Right now, there are only 19.5 million of them and
of that number, against sort of the stereotypes,
most of them are not living in developed countries.
There are 1.6 million in Turkey, 1.5 million in Pakistan,
1.2 million in Lebanon, and they're coming basically from three countries.
More than half of them come from just three countries,
Syria which has 3.9 million of them, Afghanistan which has 2.6 million,
and then Somalia which has 1.1 million.
So a lot of what we're seeing in the news are this specific group of people,
who are included in the curves on this graph of total migration.
And however, they are not going to high income countries.
If we move to the next graph.
And we're thinking about where these migrants are coming from.
Here, you can see there are three bars for every country.
So the first bar tells you the total number of migrants coming from
that country.
And then the second bar tells you how many of that number go to developed countries.
And the third bar tells you how many are going to developing countries or
poor countries.
And some of these numbers are a little bit surprising.
Now probably there's nothing particularly alarming about the fact that
India is the source of the greatest number of the world's immigrants or migrants.
It's also the largest population country in the world probably,
it appears that it has now surpass China.
Followed by Mexico which are a little surprising because Mexico is not
second ranked in terms of highest population in the world.
And you can see with India that a large number of these migrants are actually
going to developing countries,.
Whereas, the Mexicans are almost going to developed countries,
mainly the United States.
Then you can see the third largest source of migrants in the world is Russia,
followed by China, and then we have Bangladesh and
Pakistan coming in numbers five and six.
So, this is where most of the world's migrants are coming from.
And you go on down and you can see some other countries in the group.
Where are they going?
Well, this next slide, this next graph,
shows where they're going in a different way from the previous slides have shown.
Of course it would be normal for
the biggest countries to receive the biggest numbers of migrants.
So, to put it all in perspective, what I've done in this slide,
is I've taken migrants as a percent of the receiving countries' populations.
So you could see these are all percentages on this graph, and
you can see that Oceania is receiving the most migrants from the world.
They make up about 20% of their population.
Now, some of these regions of the world are immigrant countries,
in fact most of the countries receiving large number of migrants
are basically immigrant countries, settled by immigrants.
So maybe the Oceania figures are not particularly surprising.
Then we move on down and we see North America.
Where 15% of the population are migrants and
then we get to Europe where 10% of the population are migrants.
So here we've got a lot of variety, and of course the traditional immigrant countries
tend to be receiving more migrants than the older countries like Europe.
[MUSIC]
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