Ready?
For Activity #4, we're going to watch a documentary about the new China's economy. First, though, we need to do a little background preparation.
Go to Wide Angle's To Have & Have Not at
www.pbs.org/wnet/wideangle/episodes/to-have-and-have-not/introduction/886/. On that page read the paragraph titled About The Film. From the Inside this Episode menu on the upper right, choose the following links.
Introduction (the first page)
Essay: China’s WTO Guinea Pigs: Will They Bring Political Change?
Sizing Up China’s Economy
Debate: What the WTO Means for China
Continue to choose the links until you've read through all 4 pages listed above. Then, from the Inside this Episode menu on the upper right, choose the Additional Web Resources link. That page has a number of links to fascinating background information on the issue. You're not required to read everything linked on that page but I wanted you to know what's there. The information is interesting and the more you know about issues, the better.
Set?
From the Inside this Episode menu on the upper right of any of the above pages, choose the Video: Full Episode link to take you to the documentary. Read the introduction above the player.
The documentary plays on Adobe Flash Player, available on the site. The documentary is just under an hour in length and has been divided into 7 clips for viewing. The player is in the middle of the page with the individual clips arranged underneath. The clips are accessed by clicking on the picture for each. However, if you click on the white arrow in the middle of the player, the player will automatically go from clip to clip without stopping. There are two small icons just under the player on the right. One controls the player's screen size and one the volume. You should be able to watch the documentary on any but the oldest and slowest computers ... although the slower your connection, the longer it will take your computer to load the video. Be patient!
The World Trade Organization (WTO) is an institution dealing with rules of trade between nations. Its goal is to “ensure that trade flows as smoothly, predictably and freely as possible. [The] result is a more prosperous, peaceful and accountable economic world” (WTO website). This result, however, is not universally acknowledged, as evidenced by the growing number of movements against the WTO and globalization, the increasing integration of the world economy. While advocates claim that globalization can bring prosperity to impoverished countries, opponents say it will exacerbate poverty, inequality and environmental degradation.
China became a member of the WTO in December 2001. While the long-term effects of China’s entry into the global market are yet to be determined, some fear that liberalized trade policies and a greater involvement in the global economy will create more poverty and put much of China’s population at a disadvantage. As you watch the documentary, consider the following questions. (Do NOT send me the answers to these ... they're only to help you stay focused during the documentary.)
What is the the World Trade Organization (WTO)?
Who gains and who loses from globalization?
Why do some say the entry of developing countries into the WTO is hurting those countries?
Why do some say the entry of developing countries into the WTO is empowering those countries?
What are the downsides of globalization and entry into the WTO for poorer countries?
Has China benefited from the globalization of the world economy? Why or why not? Has it benefited from its entry into the WTO?
What are the downsides of globalization and entry into the WTO for a country like China?
How are the WTO and globalization related?
What types of industries and which sections of society in developing countries are most negatively affected by globalization?
Are there ways to address the downsides of globalization and the WTO and still allow for free trade?
What are the beliefs and arguments of those who are anti-globalization?
Go!
Free-market economist
David Ricardo (1772-1823) set forth the theory of comparative advantage. Using his famous example of two nations (Portugal and England) and two commodities (wine and cloth), Ricardo argued that trade would be beneficial even if Portugal held an absolute cost advantage over England in both commodities. Ricardo's argument was that there are gains from trade if each nation specializes completely in the production of the good in which it has a comparative cost advantage in producing, and then trades with the other nation for the other good. According to the theory of comparative advantage, free trade should work to the benefit of all. Yet there seems to be evidence that free trade is not good for all. What's wrong with this picture?
I'd like your answer to the question: In the long run, is globalization good for everyone? Your answer to that question may be as long or as brief as you want but it must pass two tests.
First, your answer must exhibit an understanding of economic concepts. Make specific and detailed connections to course content.
Second, your answer must reflect the information given in the assignment. Someone may have assured you, for example, that multinational corporations conspire to run the world for their own advantage. I won't accept that as an answer, though, even if your Dad's brilliant 2nd cousin is the source.
Instead, use what you learned from the documentary to make your case. Too, while I welcome you to include your opinions as part of your comments, those opinions must have some basis in fact. You cannot watch a scientific demonstration of how the world is round and then send me a report that says, "I don't care what science says. In my opinion the world is flat!" This is the time to demonstrate some critical thinking.
Please be careful to use correct spelling and grammar.
By the deadline shown in the Course Schedule on the main page of the syllabus:
Send your comments in the body of a new email to dramyglenn@earthlink.net.
Put only your name and Activity #4 at the beginning of your email.
Be careful to use the correct subject line.
Late comments lose one point per day late, including weekends and holidays.
READ THE FOLLOWING SECTIONS FROM THE MARGIN NOTES.
