Share via Email Where does Nike make its trainers? Or Wrangler its jeans? In the same place Raleigh make its bikes, Philip Morris makes its cigarettes, Korean companies make LED lights, and giant corporations like Walmart, Mothercare, Tesco and Reebok make practically everything from pharmaceuticals to fishing rods and baseball caps. The Chittagong export development zone EDZ in Bangladesh is the capital of globalisation, the plumb centre of global free trade, and the reason, it could be argued, that industrialised countries don't make much any more.
Why are EPZs consistent with the logic of neoliberal globalization? How has the growth of these zones been encouraged by the actions of key governing institutions in the globalization project?
What was the relationship between the debt crisis of the early s, the growth of structural adjustment programs and the growth of EPZs?
It is the massive chain of events, a comprehensive global movement primarily concerning international economic growth, development, and integration of markets that has helped raise the standard of living for many people worldwide. It has also, however, driven many deeper into poverty.
This paper reviews the rise of Export Processing Zones in the developing world as a widespread aspect of the current trend of economic globalization. This economic globalisation is providing immense wealth to arious multinational companies, also known as transnational corporations.
However what impact do these EPZs have on their host countries? Do they assist to, or hinder, development in the developing countries? Thus, the developing countries were bound by a constrained legal framework — Structural Adjustment Programs SAPs that are directly related to the growth and the development of Export Processing Zones.
Development has been a major aspect in our lives throughout the years. We are always looking for ways to advance ourselves technologically, economically, intellectually, socially, etc. Globalization is viewed as another step in development of humankind. It was a political response to the condition of the world at the era of decolonization McMichael The development project promised to increase standards of living based on freedom of enterprise.
However, this development has been brought at a very high social price that involved poverty, unemployment and inequity. Once this project had failed, the elites still strived for development, and it was renamed globalization.
Globalization project is a global development strategy, focusing on global international development, unlike the development project that focused on national development throughout the world.
In other words, globalization is the integration of markets — free movement of capital, labour, and goods across nations.
The globalization project was born as a result of the failure of the development project which was marked by the debt crisis explained in detail later on in this essay. However, the accompanying fragmentation of the Third World enabled global elites in the Bretton Woods institutions and the First World to argue that the international economic order was not responsible for the crisis.
It proposes that human well-being can best be promoted by liberating individual entrepreneurial spirit and skills within an institutional framework characterized by strong private property rights, free markets and free trade. The natural effect of removing trade barriers and allowing specialization was global competitiveness that emerged as soon as the globalization process started.
The direct result of this course was not only lower prices of goods and services, but also lower prices of labour.
It was clear that the comparative advantage of the Third World was cheap disorganized labour. However, there was no incentive for an investor to invest in China, rather than in Mexico for example. To provide this incentive for the economic development, nearly every developing country established export processing zones EPZs as they were the means of attracting foreign investment.
EPZs created new employment, generated foreign exchange, expanded national revenues and increased export flows Rondinelli The major characteristic of such a zone is the lack of environmental, social, and tax regulations. Later, EPZs became perhaps the most common form in which the strategy of development has been implemented.
Thus, free trade zones were instrumental to the growth of the globalization project. Probably the most famous instance of these zones is the free economic zones of the Peoples Republic of China.
One such economy, he elaborates, is Mexico. The aftermath of World War II had been an extraordinary period. Even before the war ended, victorious allies realized that the mistakes of the interwar period should not be repeated. Inthey met in Bretton Woods, New Hampshire, to develop a new international system to promote world trade and prosperity after the war.
In this conference two financial institutions IFIs were created: While both focusing on aiding nations in financial needs.An Export Processing Zone (EPZ) is a Customs area where one is allowed to import plant, machinery, equipment and material for the manufacture of export goods under security, without payment of duty.
rights-free zones. The Labour Resource and Research Institute (LaRRI) is a vibrant Namibian based research and education institute committed to the overall political and economic independence of all working people in Namibia and beyond. Export Processing Zones (EPZ) are strategies for economic development in developing nations used to attract foreign investment to create jobs and more.
Export Processing Zones (EPZ) are strategies for economic development in developing nations used to attract foreign investment to create jobs and more. How Global Trade Agreements .
Who Really Benefits from Export Processing Zones? Estimating Distributional Effects Within Nicaraguan Municipalities1 Nathalie Picarelli2 London School of Economics.
ANTHROPOLOGY Ch 2nd exam review A&M. STUDY. PLAY. The movement of industry to export processing zones is called: off-shoring. globalization that focuses on the spread of democracy (C) globalization that is based on rules set by governments, not companies (D) globalization that is designed to meet basic needs.
Global Economy Export Processing Zones and Peripheral Nations Essay. After taking an stock list in my place, I have found that I own 18 ‘high-tech ‘ electronic devices - Global Economy Export Processing Zones and Peripheral Nations Essay introduction.
On all of these points, as one might surmise, there are labels that say where they were made ; topographic points like China, Taiwan.