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How Far Will International Economic Integration Go? Article Review Example

Pages: 2

Words: 457

Article Review

The article of Dani Rodrik hopes to create a new vision of understanding how economic growth and development occurs in the modern society. Considering the aspects of capitalism, political definitions of profit and other elemental factors that contribute to such matter, Rodrik utilized the term economic integration to define international economic relations between nations around the globe. In the discussion, the author himself points out that principles of globalization, while it is analyzed differently by the different members of the society, provide a strong notion that consists of the fact that international camaraderie among nations is a factual occurrence that is considered today as a vital part of modernization.

One flaw in the international system of relations between nations as described by Rodrik specifically points out the impact of border between countries as relative limitations for developing conditions of economic development. Using the US-Canada borders, the author provided a picture that visualizes how separation between nations actually keep the people away from realizing the real benefits of modern international commercial systems (178). These separations actually implicate the competition between the rich and the poor nations therefore creating an imbalanced distinction on the capacity of each country to enjoin within the system of international economic competition occurring at present. Apparently, interest rates implied on countries depend on the status that they have in the system of economy. This means that the condition of development that a particular nation could confer with would only depend on the current economic condition that they are under. In a way, this is the reason why the theory of economic dwarfism is seen to have an evident impact on the society today. This theory specifically points out that the rich become richer and the poor become poorer especially in relation to the fact that international economic integration depends on the level of development or progress that a nation has already incurred.

To observe, political and general points of separation between nations also affect the condition or the recognizable position of particular countries in the field of international economy. Notably, the rules of business engagement and the differences that these laws have specifically impact the consideration placed on the capacity of a country to engage in a particular business agreement with another organization coming from another nation. Coming up with a well-balanced system, it could be realized that such differences on laws could be overcome. In relation to this matter, Rodrik points out that it is the willingness of nations to readjust their system to accommodate the differences they have with other nations that could specifically define the ability of nations to actually have a system of beneficial camaraderie between each other. Only through this process would nations actually realize the benefits of international economic integration.

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