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Globalization

Why is globalization so controversial?. Globalization. Good morning!. Make arrangements for your makeup test before or after school ASAP! Project assignments will be given today. Vocabulary words: absolute & comparative: Find synonym for each Find anonym for each

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Globalization

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  1. Why is globalization so controversial? Globalization

  2. Good morning! • Make arrangements for your makeup test before or after school ASAP! • Project assignments will be given today. • Vocabulary words: absolute & comparative: • Find synonym for each • Find anonym for each • Create an analogy for each • We’ll complete reader’s theatre.

  3. What is globalization? • No one answer.

  4. Good morning! • Turn in your projects. • If you were absent on Tuesday before Thanksgiving, you need to make arrangements to take the Unit Exam before or after school. • Computers are on. Begin taking the pre-test for International Trade – International Pretest (password: international)

  5. What is Globalization? • Process of increasing the connectivity & interdependence of world markets and businesses.

  6. What’s driving globalization? • Technological advances that make it easier for people to: • Communicate • Travel • Do business internationally. • The Internet • Advances in telecommunications

  7. Globalization • As economies become more connected to other economies, they have increased opportunity but also increased competition.

  8. Because of Globalization we have • Powerful pro-globalization groups • Powerful anti-globalization groups • One of more powerful pro-globalization groups: World Trade Organization (WTO)

  9. WTO Protests: Seattle, 1999 • Who? • Union organizers, environmentalists, animal rights activists, and senior citizens protested during WTO meeting.

  10. WTO Protests: Seattle, 1999 • Protesters attempted to shut down WTO meeting by blocking major roads, breaking windows of businesses, engaging police

  11. WTO Protests: Seattle, 1999 • Why? • Protestors believed WTO policies promoted greater free trade: • were bad for environment • Increased world poverty • Only made large corporations wealthy

  12. WTO Protests: Seattle, 1999 • Supporters believed: • WTO policies promoting free trade improves living standards worldwide • Better living standards lead to increased human rights, literacy rates and even life expectancies

  13. More names for the two opposing groups: • Protectionists • Want trade barriers to protect domestic industries. • Free Traders • Favor fewer and even no trade restrictions to encourage free trade (international trade)

  14. National Defense • Protectionists Argue • Country might become so specialized that it would be too dependent on other countries. • Dependency might keep us from getting supplies in time of war. • Some small countries (Israel & South Africa) are loading up on arms just in case this happens.)

  15. National Defense • Free Traders argue • Admit national security is a valid concern • Must consider that supply would be smaller without free trade. • Might argue over which industries are critical to national defense.

  16. Infant Industries • Protectionists • New or emerging industries (infant industries) must be protected to gain strength and experience before competing globally. • Trade barriers would give infant industries time to develop.

  17. Infant Industries • Free Traders • Will go along with infant industries argument as long as trade barriers are eventually removed. • When companies get protection they seldom want to give it up.

  18. Protect Domestic Jobs • Protectionists • Tariffs and quotas protect domestic jobs from cheap foreign labor. • Makes it easier for people to work in communities they grew up on. • Free Traders • Believe it is best not to interfere. • Protecting jobs keeps industries from being efficient with resources. • Believe pressure should be put on threatened industries to modernize & improve.

  19. Protect Domestic Jobs • Free Traders • Believe if prices get too high people will find substitute goods & jobs will still be lost even though they are protected. • Believe profit loss system is a major feature of American economy that helps weed out inefficient businesses.

  20. Keeping the Money at Home • Protectionists • Will keep American money in US. • Free Traders • Believe American dollars spent abroad will eventually come back. • Example – US buying Japanese made cars. Japanese in turn buy soybeans, cotton, airplanes, etc.

  21. Helping the Balance of Payments • Balance of Payments • Difference between the money a country pays out to, and receives from, other nations when it engages in international trade. • Protectionists: • Argue restrictions on imports help balance of payments by restricting amount of imports. • Free Traders: • Argue dollars return to US to stimulate employment in other industries.

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