I’m working on a history multi-part question and need support to help me understand better.
Q13
From the Readings
- In Peter Hall and David Soskice’s seminal work Varieties of Capitalism, they present two major contrasting approaches to organizing a capitalist market economy: Liberal Market Economy (LME) and Coordinated Market Economy (CME). Outline the principal differences between LMEs and CMEs and provide an example of a country in each category.
- State capitalism is another variety of capitalism and is most closely associated with China. The Economist article provides a detailed analysis of Xi Jinping’s most recent expression of China’s state capitalist model and the so-called “whole-nation system.” What are some of the advantages and disadvantages of this system according to the article?
From the Lecture
- Comment on the following quote from Chinese economist Zhang Weiying:“China’s reform started with an all-powerful government under the planned economy. The reason China could have sustained economic growth during the process of reform was [that] the government managed less, and the proportion of state-owned enterprises decreased, not the other way around. It was precisely the relaxation of government control that brought about market prices, sole proprietorships, town and village enterprises, private enterprises, foreign enterprises, and other non-state-owned entities.”
Discussion 14
This week we consider the idea of global governance, in particular, governance of the global economy. We have already analyzed the role of institutions like the IMF, World Bank, WTO, and intergovernmental meetings such as the G20. These can be seen as efforts to coordinate policy and direct the economy on an international level. As you can see from the above example, it seems it takes a mixture of international organizations and national governments to achieve any level of global governance. The United States remains the world’s leading economy and a leader in these efforts, but is facing relative decline and growing competition, for example from China and the European Union. How do you see the future of global economic governance developing? Consider the role of and interplay between international organizations, transnational actors, and states.
QUIZ 14
From the Readings
- Risse describes how realists, liberals, and critical theorists (like dependency theorists) view Multi-National Corporations (MNCs). Summarize these different perspectives (see p. 262).
- Explain the term “tripartite global governance” and the advantages and disadvantages of such a system as described by Risse (see p. 268).
From the Lecture
- When it comes to multinational corporations, list some of the home and host country advantages and disadvantages.
Topic: BUS 3850-001 Spring 2021 The Rise of Global Capitalism
Date:Apr 16,2021 3:10 PM Mountain Time (US and Canada)
