Annotated Bibliography

I- Globalization is irreversible because embedded in the economy structure

A. Globalization appears to be irreversible due to the dependence of economies vis-à-vis globalization.

Despite a decline, due to the economic crisis, since the 90’s, the sum of exports and imports is now higher than 50% of global production; France for example double its trade openness going from 15% in the 1980’s to more than 35% in 2010. It traduces the dependence of national economy compare to the rest of the world, exportations being an essential component in the global demand. We can then consider that globalization is like embedded in global economy structure based nowadays on interdependence relations between nations.

Another example of this dependence is the rise of the FDI stock that rose from less than 2 trillion dollars in the 1990 to more than 15 trillion dollars in 2015. A global economy also means that those interdependences concern more and more countries, in particular EMC’s countries, that turned away from isolation and opened to internationalisation in the last decades. Regarding IMF, even if FDI flows to emerging market countries (EMCs) have decline owing largely to falling investment in Latin America, they increase rapidly since the 1990’s and have become by far the single largest component of their net capital inflows. This last example shows how countries are now more than ever tie together.