Who Really Wins From Globalization? (Pros and Cons of Globalization)
Summary
TLDRThe latest 'Get Shorts' edition explores globalization's impact through an economic modeling study. It examines 42 countries' economic growth from 1990 to 2011, comparing it to projected growth without globalization. The study finds all countries benefited, with developed nations like Finland, Denmark, Japan, and Germany seeing significant gains, while emerging markets like China, Brazil, and Mexico had smaller but notable increases. The report suggests that while globalization is beneficial, its opportunities are unevenly distributed, potentially widening global inequalities.
Takeaways
- 🌐 The video discusses the impact of globalization using an economic model to analyze the debate on winners and losers.
- 📊 A 'globalization index' was created to measure the overall effect of economic, social, and political interconnection across 42 countries.
- 📈 The study found that all 42 countries experienced economic growth due to globalization from 1990 to 2011.
- 📉 A one-point increase in the globalization index corresponded to a 0.35 percentage point increase in real per capita GDP growth.
- 🏆 Developed nations like Finland, Denmark, Japan, and Germany were the biggest winners, with significant per capita gains.
- 🌟 Emerging markets such as China, Brazil, and Mexico also benefited, but to a lesser extent compared to developed nations.
- 💰 The gains from globalization were not evenly distributed, with developed countries far outpacing the emerging markets.
- 🔍 The study suggests that the current trend could increase global inequalities if not addressed.
- 🌍 Policymakers are urged to ensure that emerging markets have opportunities to benefit from globalization to prevent future disparities.
- 🔗 The video ends with a teaser for the next edition, which will explore how international trade affects inequality within countries.
Q & A
What is the main topic of discussion in the 'Get Shorts' video?
-The main topic of discussion is the debate about who really wins from globalization and the effects of economic, social, and political interconnection on different countries.
What is the controversy surrounding the topic of globalization?
-The controversy is based on the belief that while globalization may create winners, it also creates losers, who are often from disadvantaged communities. Supporters argue it's a key to growth, while opponents claim it facilitates inequality and a race to the bottom in standards.
How does the 'Get Shorts' video approach the debate on globalization?
-The video uses cutting-edge economic modeling techniques to create a globalization index that measures the overall effect of interconnection on 42 countries' economic growth from 1990 to 2011.
What was the time frame for the economic growth data analyzed in the globalization index?
-The economic growth data analyzed was from the years 1990 to 2011.
What was the average impact of a one point rise in the globalization index on real per capita GDP growth rate?
-A one point rise in the globalization index resulted in a 0.35 percentage point increase in the growth rate of real per capita GDP.
Which countries were identified as the big winners from globalization according to the index?
-Developed nations such as Finland, Denmark, Japan, and Germany were identified as the big winners from globalization.
How did emerging markets like China, Brazil, and Mexico fare in terms of benefits from globalization?
-Emerging markets such as China, Brazil, and Mexico also benefited from globalization, but significantly less than the major winners, with interconnectedness increasing their average annual per capita income by about 100 euros.
What does the video suggest about the long-term implications of the current globalization trends?
-The video suggests that the current trends could exacerbate global inequalities, especially if opportunities from globalization are not evenly dispersed and if developed nations' gains continue to outweigh those of emerging markets.
What does the video recommend for policy in relation to globalization?
-The video recommends that the developed world must ensure that emerging markets have every opportunity to benefit from globalization to prevent exacerbating global inequalities.
What is the next topic the 'Get Shorts' team will investigate?
-The next topic the 'Get Shorts' team will investigate is how international trade affects inequality not just between countries but within countries as well.
Outlines
🌐 Globalization's Impact on Economic Growth
This video explores the economic effects of globalization through an economic modeling study. The study introduces a 'globalization index' that measures the impact of economic, social, and political interconnections on 42 countries from 1990 to 2011. Contrary to popular belief, the study finds that all countries experienced benefits from globalization, with an average increase of 0.35% in real per capita GDP for every one-point rise in the globalization index. However, the gains were uneven, with developed nations like Finland, Denmark, Japan, and Germany seeing significant increases in average annual per capita income, while emerging markets like China, Brazil, and Mexico saw much smaller gains. The video concludes by emphasizing the importance of ensuring that emerging markets have opportunities to benefit from globalization to prevent exacerbating global inequalities.
Mindmap
Keywords
💡Globalization
💡Economic Modeling
💡Winners and Losers
💡Interconnectedness
💡Growth Motor
💡Inequality
💡Race to the Bottom
💡Globalization Index
💡Real Per Capita GDP
💡Developed and Emerging Markets
💡Policy Implications
Highlights
Using cutting-edge economic modeling techniques to analyze the impact of globalization.
The debate on globalization centers on whether it creates winners and losers.
Globalization is seen by some as a driver of 21st-century growth.
Others argue that globalization leads to inequality and a race to the bottom in standards.
A Globalization Index was created to measure the effects of economic, social, and political interconnection.
The index examines economic growth in 42 countries from 1990 to 2011.
Countries' growth rates were compared to estimated growth if global interconnectedness remained at 1990 levels.
The study found that all 42 countries reviewed benefited from globalization.
A one-point rise in the Globalization Index resulted in a 0.35 percentage point increase in real per capita GDP growth.
Interconnectedness has increased across the board and has been a net positive for all countries.
Developed nations were the big winners, with Finland experiencing the highest average annual per capita gain.
Emerging markets like China, Brazil, and Mexico also benefited but to a lesser extent.
The gains in developed nations far outweighed those in emerging markets.
The trend could exacerbate global inequalities if not addressed.
Previous research suggests emerging markets could lose out from regional trade pacts like TTIP.
Policymakers must ensure that emerging markets have opportunities to benefit from globalization.
The developed world needs to prevent future isolation by including emerging markets in global economic growth.
The GED team will investigate how international trade affects inequality within countries in a future edition.
Transcripts
hey folks welcome to the latest edition
of get shorts this time we're using
cutting-edge economic modeling
techniques to try to add insight into
the simmering debate about who really
wins from globalization now the
controversy around this topic is based
on the belief that while
interconnectedness may create winners
the process also creates losers and that
these losers come disproportionately
from disadvantaged communities the
rhetoric is heated on both sides for
supporters globalization is the key 21st
century growth motor for opponents
globalization facilitates inequality
and a race to the bottom in terms of
standards so which is it to find an
answer we devised a globalization index
that measures the overall effect of
economic social and political
interconnection our index looks at 42
country's economic growth from 1990 to
2011 and compares those figures to
estimated growth at global
interconnectedness remained at 1990
levels the results are not will be
expected according to the study all 42
countries benefited from globalization
in the period under review on average a
one point rise in our globalization
index resulted in a 0.35 percentage
point increase in the growth rate of
real per capita GDP in other words our
index suggests that interconnectedness
has increased across the board and that
it has been a net positive for all
countries we reviewed but the study also
found that some countries benefited much
more than others developed nations were
the big winners according to our index
Finland
month away with an average annual per
capita gain of about 1500 euros Denmark
Japan and Germany both also sold major
gains emerging markets such as China
Brazil and Mexico benefited but
significantly less than the major
winners for these three developing
nations interconnectedness increased
average annual per capita income by
about 100 euros this is far less than
the gains in the developed world but it
is still impressive relative to their
GDP in 1990 so what does it all mean
well on the one hand we found that all
countries benefited from globalization
and that interconnectedness is generally
a good thing but we also found the
globalization opportunities are not
evenly dispersed and that the gains to
developed nations far outweighed those
two emerging markets in the long run
this trend could exacerbate global
inequalities especially considering our
previous research that suggests emerging
markets could lose out from regional
trade pacts such as TTIP in terms of
policy as globalization is highly
unlikely to disappear the developed
world must ensure that emerging markets
have every opportunity to join the party
otherwise further down the road today's
big winners may not have anyone left to
hang out with so have a look at our
findings and let us know what you think
and we'll see you next time when the GED
team investigates how international
trade affects inequality not just
between countries but within countries
as well
check out these links to see more of our
work
Weitere ähnliche Videos ansehen
Are There Winners and Losers of Globalization? (episode 3)
如何看待中国的一带一路?|一带一路|习近平|普京|中国制造|基建狂魔|全球门户|王局拍案20231025
Vad är en tillväxtmarknadsfond? | Nordnet Academy
Lima Tahun Lagi Kekuatan Ekonomi China Kalahkan Amerika Serikat
First World vs Third World Countries - What's the Difference ? | Developing vs Developed Countries.
What is globalization
5.0 / 5 (0 votes)