Globalization has led to increased interaction between financial markets and human migration worldwide. Financial markets have become more integrated through technologies and policies that facilitate international monetary transactions and investment. However, regulations are still needed to promote stability given crises like in 2008. While globalization has increased mobility, strict policies limit migration between countries despite growing workforce needs, as developed nations fear job losses while less developed nations seek opportunities abroad. Most world migration occurs from south to north, and between southern countries, though northern emigrants retiring abroad is rising. Overall migration patterns are shaped by issues of work, resources, opportunities, and stability under globalization.
3. Globalization
Results from the interactions in the World Economic System (WES).
Can’t be planned.
Global economy is influenced by different aspects, like:
Culture
Ecology
Politics
Military
Therefore, globalization has different effects in each country, even when WES is the same:
Countries influence and at the same time are affected by globalization (technology, economic
integration, wars).
4. Financial markets
Capitalism prevails:
Implies: “free market without government regulations”
Financial and monetary system - IO and communication technologies
Stablishes forms of international payments, transfer of financial flows, savings and credits.
Support the international system= without them, FT wouldn't exist as we know it.
5. Financial markets
Therefore, it is regulated, but it is necesary – certainty to transactions.
Financial flows have increased over time and because of globalization.
1. First - gold
2. Bretton Woods 1944 – fix exchange rate, USD as coin for reserves and IMF.
3. 1973 – Free exchange rate fluctuation .
6. Financial markets
Is the financial market really stable?
2008 Crisis – Indiscriminate grant of credits and disability to recover them.
“Greek Crisis” EU.
IMF – poor world development. Haven’t fully recover from crisis.
7. Financial markets
Then…
1. It is necessary …
Certainty, liquidity in international operations – it allows foreign trade and the flow of payments.
2. But…
It is necessary to implement rigorous and equal regulations (rich and poor) - IMF
¿same regulations?
9. World migrations
Background – infrastructure and means of transport have increased thanks to globalization.
Strict regulations – there is no free movement of people, not even in EI countries (business
people).
More people = less resources (distribution)
Causes:
1. Work
2. Opportunities – better salary or work.
3. Persecutions
4. Natural disasters
10. World migrations
Who can?
Intensive workforce – farmers.
Scientists, professional workforce.
Ex:
USA
Employees less prepared: 70%
Employees with more education: 17% masters y 30% doctorates.
The rest: 80% of workforce are Americans, harder to get a working visa.
11. World migrations
Then…
Developed countries – Do not want immigrants because they are afraid of losing their jobs or
diminish their salaries.
LDC – want to emigrate, better jobs and salaries.
12. World migrations
International Organization for Migration (IOM) – last report 2013
1. 40% from south to north
2. 33% between countries of the south.
3. 22% between countries of the north.
4. 5% from north to south.
13. World Migrations
Biggest wellbeing for those who emigrate to the north. Still their wellbeing if less tan those who
where born in the north.
From south to north – consider they live better than in their countries.
From north to south – better use of resources ($), less social benefits (services, social
relationships, etc.)
From south to south: Surviving reasons – worst conditions
14. World migrations
Migrants average percentage:
N: 5.2%
S: 3%
Only 27% migrants in the N and 8% in the S send remittances.
World unemployment:
o Migrants: 13%
o No migrants: 8%
15. World migrations
New tendency: movements from N to S
oUSA to MX and Africa.
oGermany to Turkey.
oPortugal to Brazil.
oItaly to Argentina
Links with native lands, new economic opportunities, studies or retirement.
16. World migrations
Main movements:
S to N: Mx to USA – 12.8% of world migrations from S a N.
13% migrants in the world are Mexicans.
N to S: Mx from USA - 7.8% of world migrations from N a S.
9% of world migrants come to Mexico.
17. World migrations
No country can give jobs to everyone.
Neoliberalism –
Free movement of production resources, including people.
Free competition (including labor) – the most capable.
¿Double moral?
Jobs they don’t want to do? – limited “promotes illegal migration”.
Most capable?
18. World migrations
If globalization, free commerce and free access to markets generated
the “hoped” development for each country, there wouldn’t be need
to limit the migration of people, as everyone would have an
opportunity in their own countries.