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?

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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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globalization
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
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
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
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)
slide11

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
slide12

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
slide13

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
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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