Changing Economic Landscapes Dr Maurice Mullard Lecture 9

Geography of Present Recession What sort of Recession V Shape W Shape Comparison with Depression of 1929 Japan lost decade Russia 1989

What are the Implications for Globalisation Thesis that Globalisation after 1990 was defined by USA – liberalisation free trade free markets Washington Consensus End of History thesis Break of Soviet Union Response of China Beijing Consensus

Does Recession means Reversals from Globalisation Retreat into protectionism warnings of World Bank and IMF Models Washington Consensus and Beijing Consensus Beijing Model How is China dealing with Africa Still a forms of selling commodities oil basic metals

Emergence of China China now 4 th largest economy 4.4. trillion dollars forecast to surpass US Economy 2050 India and China 40 per cent of World population China workshop of the World low level technology cheap goods eventually move up production chain Worries for EU and USA

BRICS Brazil Russia India China and future of global economy More democratic in the sense that China and India have large populations Dominance of the West 800 million in world population of 6.2 billion Resources Populations as future large consumer markets

The Retreat of the West Dominance of the West last two hundred years Dominance Resources technology Hegemony monopoly in ways of thinking culture Enlightenment Break up of Soviet Union US ascendancy neo cons American Century Global GDP EU same GDP size as USA 18 trillion dollars China 4.4 trillion

Global Challenges Food – changing diets India and China Africa agriculture potential Oil producers Middle East Retreat of US Consumer Export what and to who Green Revolution a potential export industry Failure of Doha Round