Neoliberal GlobalizationTransformation and Development

In the era of neoliberal globalization, states have more interconnectedness and interdependence with each other for the global economy to prosper. Meanwhile, Significant changes have occurred in the nature of international trade and commodity production for the past decades. These changes also lead to new geographic, social, and political divisions of labor worldwide. Moreover, social and political consequences of these transformations have begun to take effects on a global scale. In this essay I am going to explain such transformations and illustrate the ideas above. Neoliberalism, though considered by some people as equivalent to globalization, is more like a terminology of economics. Basically â€Å"neoliberal† refers to free market, which†¦show more content†¦Developments of world economy and specifically TNCs have also resulted in changes in geographical, social, and political divisions of labor. Because the commodity chains usually involve multiple countries, di vision of labor tends to go beyond borders. Hence there has been international geographical division of labor, rather than geographical division of labor within the state. Class division of labor transfers from the difference between poor and rich countries to the difference within countries (at the same time geographical division of labor goes across borders), because income inequality is becoming a more and more serious problem (ever-increasing Gini coefficient). It should also be noticed that females are becoming part of the labor force, and certain ethnic groups dominate particular industries (Ex. Filipino nannies). International organizations also start to play roles in the world labor system. Free market cares about efficiency and wants maximized profits. The increase in international trade and development of TNCs provide huge job opportunities, allow different countries to make full use of their comparative advantages, and make the entire global economy â€Å"better off†. However, this is not always the case. In her essay about Chinese migrant women workers, Pun Ngai says that these women workers get low wages, do not have their own living spaces, and are not guaranteed long-term employment. Similarly, in the New York Times article about China’sShow MoreRelatedAn Approach to the Regional Neoliberal Governance in Southern Africa from a Critical Perspective1177 Words   |  5 PagesAn approach to the regional neoliberal governance in Southern Africa from a critical perspective. In order to examine the possible implications of neoliberalism in contemporary Africa, an analysis based on a regional dimension is important. 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