series of negotiations, GATT achiev

series of negotiations, GATT achieved reductions in trade tariffs and other barriers
to trade, as shown in Figure 9.4. As a result, the world has witnessed a second wave of
globalization that accelerated in the 1980s and 1990s as increasing numbers of emerg-
ing markets adopted trade orientated policies in an effort to boost their GDP growth.

DIFFERENCES BETWEEN TWO WAVES OF GLOBALIZATION
The first wave of globalization was driven by falling transportation costs and came to
an end due to war and increasingly protectionist trade policies. By contrast, the sec-
ond wave of globalization has been driven by a reversal of trade policies and increas-
ing trade liberalization. The varying role of transport costs and trade policy in
driving globalization is summarized in Table 9.1, which also documents the progress
of globalization in labor and capital markets. According to the data, contemporary


100

80

60

40

20

0


1930 1934 1947 1949 1951 1956 1962 1967 1979 1994

F I G U R E 9 . 4 Tariffs as percentage of 1930 levels. The average tariffs on traded goods and services
have steadily declined since the Depression. Source: Lavergne “The Political Economy of U.S.
Tariffs” (Ph.D. thesis, University of Toronto, 1981), reproduction Robert E. Baldwin, “U.S.
Trade Policy since World War II” in Baldwin and Krueger (eds.), The Structure and Evolution of
Recent U.S. Trade Policy (Chicago: University of Chicago Press, 1986).

Results (Indonesian) 1:

serangkaian perundingan, GATT dicapai penurunan perdagangan tarif dan hambatan lainperdagangan, seperti ditunjukkan pada gambar 9.4. Sebagai akibatnya, dunia telah menyaksikan gelombang keduaGlobalisasi yang dipercepat di 1980-an dan 1990-an sebagai peningkatan jumlah lampu darurat keluar darurat-ing pasar mengadopsi kebijakan perdagangan yang berorientasi dalam upaya untuk meningkatkan pertumbuhan PDB mereka.PERBEDAAN ANTARA DUA GELOMBANG GLOBALISASIGelombang pertama globalisasi didorong oleh jatuh biaya transportasi dan datang kemengakhiri perang dan semakin kebijakan perdagangan proteksionis. Dengan kontras, sec-ond gelombang globalisasi telah didorong oleh pembalikan kebijakan perdagangan dan semakin meningkat-ing liberalisasi perdagangan. Peran berbagai kebijakan transportasi biaya dan perdagangan dimengemudi globalisasi diringkas dalam tabel 9.1, yang juga dokumen kemajuanGlobalisasi tenaga kerja dan pasar modal. Menurut data, kontemporer10080604020 0 1930 1934 1947 1949 1951 1956 1962 1967 1979 1994 F SAYA G U R E 9. 4 TARIF sebagai persentase kadar 1930. TARIF rata-rata perdagangan barang dan Jasatelah terus menurun sejak depresi. Sumber: Lavergne "politik ekonomi ASTARIF"(Ph.D. tesis, University of Toronto, 1981), reproduksi Robert E. Baldwin,"U.S.Kebijakan perdagangan sejak Perang Dunia II"di Baldwin dan Krueger (eds.), struktur dan evolusiKebijakan perdagangan AS kemarin (Chicago: University of Chicago Press, 1986).