Economic globalization

Сентябрь 6, 2022

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Economic globalization

Содержание

2. HISTORY THE INDUS VALLEY CIVILIZATION all the way to MESOPOTAMIA Early as 4000 BC Mesopotamia -
3. ECONOMIC GLOBALIZATION COMMUNICATION TRANSPORTATION TRADE
4. COMMUNICATION MODERN COMMUNICATION TECHNOLOGY AND MASS MEDIA ARE GLOBAL STANDARD IT’S RELATIVELY EASY AND INEXPENSIVE TO
5. TRANSPORTATION TRAVEL AND SHIPPING ARE CHEAP AND SAFE
6. TRADE MULTI-NATIONAL CORPORATION HAVE GLOBAL REACH AND INCREASING POWER e.g.. McDonald Corp., Intel Corp. etc. GOVERNMENTS
7. FORMS OF ECONOMY PROTECTIONISM TRADE LIBERATION
8. Protecting one’s economy from foreign competition by creating trade barriers Domestic products > Imported goods ✔
9. also called “ FREE TRADE” Act of reducing trade barriers to make international trade easier between
10. World Bank International Monetary Fund (IMF) World Trade Organization (WTO)
11. WORLD BANK Also called Int’l Bank for Reconstruction and Development (IBRD) Increases in economic growth and
12. WORLD TRADE ORGANIZATION (WTO) Formerly known as General Agreement on Tariffs and Trade (GATT) Deals with
13. INTERNATIONAL MONETARY FUND (IMF) Provides short term loans to countries when an emergency occurs e.g. Yemen
14. BENEFITS VS DRAWBACKS Solves trade disputes between countries in a peaceful ways ×But only focuses on
15. Examples of Globalization Multinational corporations operate on a global scale, with satellite offices and branches in
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Слайд 2

HISTORY
THE INDUS VALLEY CIVILIZATION all the way to MESOPOTAMIA
Early as

4000 BC
Mesopotamia - TOKEN SYSTEM as COMMODITY MONEY

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ECONOMIC GLOBALIZATION
COMMUNICATION
TRANSPORTATION
TRADE

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COMMUNICATION
MODERN COMMUNICATION TECHNOLOGY AND MASS MEDIA ARE GLOBAL STANDARD
IT’S RELATIVELY EASY

AND INEXPENSIVE TO STAY IN TOUCH

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TRANSPORTATION
TRAVEL AND SHIPPING ARE CHEAP AND SAFE

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TRADE
MULTI-NATIONAL CORPORATION HAVE GLOBAL REACH AND INCREASING POWER
e.g.. McDonald Corp., Intel

Corp. etc.
GOVERNMENTS HAVE DECREASES TARIFFS AND REGULATION ON INTERNATIONAL TRADE

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FORMS OF ECONOMY
PROTECTIONISM
TRADE LIBERATION

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Protecting one’s economy from foreign competition by creating trade barriers
Domestic products

> Imported goods

✔

TARIFF- tax levied by a government on imports and exports.
The money collected from tariffs is called a customs duty
IMPORT QUOTA- limits on the number of products that can be imported into a country
BANS- forbid products on import goods

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also called “ FREE TRADE”
Act of reducing trade barriers to make

international trade easier between countries
× TARIFF
×IMPORT QUOTA
×BANS

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World Bank
International Monetary Fund (IMF)
World Trade Organization (WTO)

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WORLD BANK
Also called Int’l Bank for Reconstruction and Development (IBRD)
Increases in

economic growth and decreases poverty in developing countries
e.g. Increases in education since 1962 like Bangladesh, Chad and Afghanistan

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WORLD TRADE
ORGANIZATION (WTO)
Formerly known as General Agreement on Tariffs and Trade

(GATT)
Deals with the rules of trade between nations, settles trades disputes and conduct straight negotiations
e.g. (May 2013) Japan and European Union bought a case to WTO regarding unfair renewable energy serves offered in Ontario

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INTERNATIONAL
MONETARY FUND
(IMF)
Provides short term loans to countries when an emergency occurs
e.g. Yemen

receive 93 Million USD (2012) during struggle to terrorism

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BENEFITS VS DRAWBACKS
Solves trade disputes between countries in a peaceful ways
×But

only focuses on developed nation
Lowers the cost of goods and services for those developed nation
×To achieve low cost, labour rights and environmental concerns are ignored
Promotes economic growth in developed countries
×Favour the rich nations and powerful trans-national corporation

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Examples of Globalization
Multinational corporations operate on a global scale, with satellite

offices and branches in numerous locations
Outsourcing can add to the economic development of a struggling country, bringing much needed jobs
Some automobiles use parts from other countries, as in a car being assembled in the United States with the parts coming from Japan, Germany, or Korea
The Free World Trade Organization supervises world trade
The European Union is an economic and political union of 28 countries that are located primarily in Europe
The North American Free Trade Agreement (N.A.F.T.A.) is a trade bloc in North America
One shirt sold in the United States could have been made from Chinese cotton by workers in Thailand. Then it could have been shipped on a French freighter that had a Spanish crew
A McDonald's in Japan and other countries shows the growth of companies over the entire world

Economic globalization

Содержание

HISTORYTHE INDUS VALLEY CIVILIZATION all the way to MESOPOTAMIA Early as

ECONOMIC GLOBALIZATIONCOMMUNICATIONTRANSPORTATIONTRADE

COMMUNICATIONMODERN COMMUNICATION TECHNOLOGY AND MASS MEDIA ARE GLOBAL STANDARDIT’S RELATIVELY EASY

TRANSPORTATIONTRAVEL AND SHIPPING ARE CHEAP AND SAFE

TRADEMULTI-NATIONAL CORPORATION HAVE GLOBAL REACH AND INCREASING POWERe.g.. McDonald Corp., Intel

FORMS OF ECONOMYPROTECTIONISM TRADE LIBERATION

Protecting one’s economy from foreign competition by creating trade barriersDomestic products

also called “ FREE TRADE”Act of reducing trade barriers to make

World BankInternational Monetary Fund (IMF)World Trade Organization (WTO)

WORLD BANKAlso called Int’l Bank for Reconstruction and Development (IBRD)Increases in

WORLD TRADEORGANIZATION (WTO)Formerly known as General Agreement on Tariffs and Trade

INTERNATIONALMONETARY FUND(IMF)Provides short term loans to countries when an emergency occurse.g. Yemen

BENEFITS VS DRAWBACKSSolves trade disputes between countries in a peaceful ways×But

Examples of Globalization Multinational corporations operate on a global scale, with satellite

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