An Overview of Globalisation and Economic Policy Responses
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This is the draft of the introductory chapter of Clem Tisdell (ed.) Globalisation and World Economic Policies. It highlights the varied dimensions of globalisation. Trends in world exports of goods and services as a percentage of global GDP, and world FDI net inflow as a percentage of global GDP are used to indicate trends in economic globalisation. In relation to non-economic measures of globalisation, particular attention is given to variations in international telephone traffic and the number of internet users and hosts. Increasing globalisation of the media is an important feature of recent developments in globalisation, and has significant political, economic and cultural ramifications. These aspects are highlighted. The chapter concludes with an overview of policy responses to globalisation and an indication of divergent views expressed in Globalisation and World Economic Policies.