What is globalization why is it happening how does it impact us and the world
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WHAT IS GLOBALIZATION? WHY IS IT HAPPENING? HOW DOES IT IMPACT US AND THE WORLD? PowerPoint PPT Presentation


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WHAT IS GLOBALIZATION? WHY IS IT HAPPENING? HOW DOES IT IMPACT US AND THE WORLD?. GLOBALIZATION. DEFINED: an ongoing process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of exchange and trade

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WHAT IS GLOBALIZATION? WHY IS IT HAPPENING? HOW DOES IT IMPACT US AND THE WORLD?

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WHAT IS GLOBALIZATION?WHY IS IT HAPPENING?HOW DOES IT IMPACT US AND THE WORLD?


GLOBALIZATION

  • DEFINED: an ongoing process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of exchange and trade

  • Occurs thanks to the interconnectedness of the modern global economy

  • Globalization forces our culture to interact and deal with others


SUPPLY CHAINS

  • DEFINED: the connections that link all parties involved in the production and sale of a product

  • Supply chains begin and end with the consumer (you)!

  • First a consumer DEMANDS, or wants a product

  • Then a long “chain” of people work to SUPPLY create it

  • It ends with the consumer ends by purchasing it at a certain PRICE

  • Example?


Why is globalization happening so quickly now?

  • ECONOMIC REASONS:

    • New forms of technology allow gigantic flows of capital and other technologies

  • Transnational corporations (TNCs)

  • International economic institutions


Bretton Woods Conference 1944

  • 44 Nations agreed to revise trade practices

  • 3 new int’l economic organizations

    • IMF: International Monetary Fund

    • World Bank

    • GATT: General Agreement on Tariffs and Trade later to be the World Trade organization (WTO)


  • Bretton Woods lasted for over 30 years

    • “the golden age of controlled capitalism

    • Ended by conservative politics embrace of “neo-liberalism”

      • Market is self-regulating

      • Survival of the fittest (Herbert Spencer)

      • Rejected Keynesian models of state intervention

      • Validated by the fall of communism


Transnational Corporations (TNCs)

  • GM, Walmart, Exxon, Mitsubishi, Siemens, etc

  • 42 of the world’s top economies are corporations

  • powerful players the influence the economic, political and social welfare of many nations


  • International Economic Institutions

    • IMF, World Bank, WTO

    • Began as means of loans to developing nations

    • Now more interested in integrating and deregulating markets around the world


Problems with Globalization

  • Lowering of labor standards

  • Ecological degradation

  • Growing indebtedness of the Global South to the North

    • Loans tied to laws

    • Interest payments now exceed aid received ($355 Billion interest v. $80 Billion in aid)


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