Economic finance and public theory AFZAAL.pptx

Presentation assignment

1. BS ECONOMICS 6 TH SEMESTER (AFTER 14 YEARS) DEVELOPMENT ECONOMICS MAM ZAINAB MUSHTAQ

2. Ahmad Sattar Roll No 024 Economic Globalization: meaning, extent and limitations Outlines 1 . Introduction Definition of economic globalization Brief overview of its significance 2 . Meaning of Economic Globalisation Integration of economic through trade Increased global interdependence Emergence of global market 3. Extent of Economic Globalization Growth of international trade Foreign direct investment Role of technology 4. Limitation of economic Globalization

3. Income inequality and poverty Job displacement and labor exploitation Loss of local industries 5. Challenges and criticism Uneven distribution of benefits and costs Power imbalance Threats to national security 6. Conclusion

4. Introduction The modern world is seen as the world without geographical boundaries and any kind of barriers. Globalisation has been the major force behind this. Globalisation is the integration of the world economy and exchanging the ideas, products, technologies etc. The globalisation hit every country and impact on the nations economic policies and various other aspects. Globalization also refers to an emerging “global culture,” in which people consume similar goods and services across countries and use a common language of business, English. World Trade Organization (WTO) Geneva-based watchdog and enforcer of international trade agreements since 1995; replaced the General Agreement on Tariffs and Trade.

5. Aspects of globalisation Trade and transactions Capital and investment movement Migration Dissemination of knowledge

6. Dimensions of globalisation Economic globalisation Political globalisation Cultural globalisation Ideological globalisation

7. Reasons for globalisation Better resources Low cost of production Dilution of the local market Operating internationally Market expansion Increased profit

8. Globalisation… The good Increased productivity High standards of living Increase flow of foreign capital Increased competition Increase in the foreign trade Induce domestic firms to improve The bad Takeover of national firms Brings instability Impact on traditional industries Affects small industries Widens disparity Cultural impact

9. Impact of globalisation Rapid growth of business. Opportunity to go global. Introduction of various new technology. Rise in access of technology in rural area. New technology in the agriculture Literate farmers Rise in the literacy rate and quality of education

10. Impact of globalisation Disparity in the society Ethical responsibility of business has been diminished . Price hike of every daily usable commodities . The local business has perished High growth but problem of unemployment . Affected the agriculture sector

11. Conclusion Globalisation had increased the trade of products, ideas, technologies etc. and created the world without boundaries but it also had some negative impact on the developing countries. Flowing with globalization ,every country is shining in nearly every Prospects. For example India is getting a global recognition and slowly moving towards to become a major economic and political strength. Though the development is progressing rapidly , still many basic problems like rural poverty , corruption and political instability remained unsolved.

12. Muhammad Afzaal Topic: International trade some key issues Outline Introduction to international trade Historical perspective Example of some successful countries and their story Issues in international trade Import oriented countries Current account deficits Increased poverty Currency depletion Job displacement Environmental degradation Increased income inequality Inflation excess

13. Loss of domestic industries Risk of trade wars Exploitation of labor International politically interference 5 . Tourism a giant Prospects of international trade Prebisch -Singer hypothesis Conclusion

14. Introduction Refers to the exchange of goods, services capitial across national borders Globalization The increasing integration of Economies Imports and exports of goods Vital component of international Economic activity Potential to increase development And growth in economies

15. Historical perspective Mesopotomian , Egyptians and pheonicians established trade network as early as 3000BC. Started with barter system A revival of currencies and financial system modern financal system evolution. Elasticities in demand and supply Singapore, south korea and china an idle example of successful international economies

16. Excess of export with less import Issues in international trade Import oriented countries are the main and leading problem due to deficit balance in specially developing. For example Pakistan in this context international trade play a vital role in lagging behind their growth. Current account deficit means the expenditure excess than national earning or income. It can be due to less resources bad governance and many other factors.

17. Increased poverty is a hurdle in the way of development and growth for the country. Currency is the main asset of any state in now a days it play a vital role in stabilization of a strong economy Due to international globalization job displacement is a trending issue in international trade. Increased modernity and industrialization leads to climate change and environment degradation

18. Developed coutries have more income and resources which creates income disparity between different states. Excessive imports which leads to increased inflation in the country. International trade is a threat to domestic market. International trade creates trade wars between the states which created uncertainty in the region. Exploitation of labor is a common trend in these days. Tourism a giant Ecnomic growth Export revenues

19. Trade in services Employment opportunities Infrastructure development Cultural exchange Prospects of international trade Globalization Growth Emerging markets Digital trade Sustainable trade New trade routes Innovation and technology

20. Presbisch singer hypothesis It is an economic theory that suggest that the prices of have a greater primary goods tend to decline relative to the prices of manufactured goods over time. THis theory was developed by Paul Presbish in 1950. Manufactured good shave a greater income elasticity of demand than primary goods especially food. Conclusion International trade is far more beneficial than harmful for the growth of any country.

21. It is not possible to sustain in isolation with trade with other countries. Digital technology will accelerate international globalization and trade International trade is a global emerging market trends which creates a lot of economic opportunities. The End