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Globalization

Globalization. Globalization. The trend toward greater interconnectedness of the world’s financial, economic, technological, political, cultural, sociological, and ecological systems. Some argue it improves living standards, while others say that it is more harmful than beneficial.

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Globalization

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  1. Globalization

  2. Globalization • The trend toward greater interconnectedness of the world’s financial, economic, technological, political, cultural, sociological, and ecological systems. • Some argue it improves living standards, while others say that it is more harmful than beneficial.

  3. Financial Globalization • Interconnection of the world’s financial systems. • Stock Market.

  4. Economic Globalization • The interconnection of companies and corporations around the world. • Multinational or Transnational Corporations such as Coca Cola, Microsoft etc.

  5. Technological Globalization • The growth of the technological revolution has created a global village. • The internet, cell phones etc.

  6. Political Globalization • The growing inter-connection between countries and international organizations. • Free trade, UN, NATO etc.

  7. Cultural Globalization • The gradual harmonization of the world’s cultures at the expense of distinctly different local cultures. • Pop culture, movies, music, language, sports.

  8. Ecological Globalization • The idea that we must treat the planet as a single ecosystem. • Ozone depletion and Kyoto Protocol

  9. Sociological Globalization • The idea that the citizens of the world are part of a global society rather than individual nations and cultures. • Common morals, ideas, ethics.

  10. Dubai • An excellent example of globalization

  11. Dubai • Background: • 1000 years old • A part of the United Arab Emirates (UAE) • 1 family rules it • Small size (1/2 size of Toronto) and population • 81% foreign born, mostly expats • Little oil (unlike other Middle eastern countries) • Subtropical desert climate

  12. Dubai What has Dubai done? 1. Tourism • Many attractions (world’s largest and only ‘7 star’ hotel) • Many events (major golf, tennis and horse racing) • Much shopping (largest shopping mall) • Tropical climate • Unique experiences (indoor skiing and skateboarding)

  13. Dubai • 2. Air Travel • Main hub for flights between Africa, Asia and Europe • 30 million passengers in 2006 • Building world’s largest airport

  14. Dubai 3. Finance and Business • Business centre for Arab world • “Knowledge Village” has many major colleges and universities • Free trade zones

  15. Dubai How is Dubai so successful? 1. Creating a Globalization Friendly Environment • Politically stable (unlike much of Middle East) • English speaking • Tolerant of non-Muslims (i.e. alcohol and other religious buildings allowed)

  16. Example: Wild Wadi Water Park

  17. Dubai How so successful? 2. Selling the Brand • Biggest mall, airport, hotel etc. • Exciting, unique and attractive

  18. Dubai How so successful? 3. Investment • From EU, USA, Japan etc. • Political and economic security • Good profits

  19. Controversy • The Good…. • Global village: sharing info • High technology for many people • Free trade (no taxes) • More opportunities for poorer countries

  20. Controversy • The Bad • Destruction of local cultures • Stunts (prevents) success for small/local business • Rich get richer, the poor get poorer • Allows you to do things that are illegal in your country in other countries (i.e. sweat shops, bad environmental practices) • Values short term gains over long term consequences (i.e. the envrionment) • ‘Moral laxity’

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