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Transcript of Metaphor/Simile Globalization
The Ignition Is like Global Trade
International trade is the exchange of capital, goods, and services across international borders or territories. Increasing international trade is crucial to the continuance of globalization. For example, the silk road is one of the oldest and important international trade routes and is a significant factor in the development of the civilizations of China.
Economic Globalization is like a Car
The Oil is like Consumer Demand
In order for consumers to buy and for the economy to move forward, producers and manufacturers need to innovate on past concepts. For example, the company, Apple, revolutionized the cellphone industry. Apple added a touch screen to their cellphone while other manufactures stuck with the older model of phones. Apples ingenuity led them to being one of the most well known companies world wide. The more consumers buy, the more the economy grows.
The wheels are like product ingenuity
International trade is regulated by governmental restrictions, and often taxed by tariffs. Tariffs are usually on imports, but sometimes countries may impose export tariffs or subsidies. This is what keeps economic globalization going. For example, the World Trade Organization (responsible for the rules and regulations on global trade) made Europe put up tariffs on their banana's from central america because other countries were required to. Before, banana's from certain parts of central america were going to Europe tax free. TNC's argued that if they are taxed, everyone should be taxed. The WTO is what is regulating all of these issues and keeping global economy in line.
The Chassis is like a government policy
The Battery is like Money
Ultimately, money is what the economy going. A country's economy grows through exporting, importing and consumer purchasing. The USA has the biggest economy because of their exports and imports. American citizens are considered some of the biggest consumers in the world and put more money into their economy, allowing it to grow.
The Alternator is like currency strength
The strength of a countries currency is what keeps its economy charged. For economists, it is often calculated as purchasing power, while for financial traders, it can be described as an indicator for how well that currency is doing. Every currency is compared to the U.S. dollar because the U.S. dollar was the most powerful currency when the U.S. dollar index was initialized in March 1973. Currently, this index is calculated by factoring in the exchange rates of six major world currencies, the euro, Japanese yen, Canadian dollar, British pound, Swedish krona and Swiss franc. This index started in 1973 with a base of 100 and is relative to this base. This means that a value of 120 would suggest that the U.S. dollar experienced a 20% increase in value over the time period.
The Exhaust is like financial instability
Financial instability and poverty is a bi-product of economic development. TNC's from first world countries often go into poorer countries and exploit the people and land there for financial gain. For example, Joe Fresh clothing brand opens factories and sweat shops in poor countries to exploit the labor laws and workers there to make their products cheap and make money. This has many huge socio-economic and human repercussions on the people of these third world countries.
The economy switches gears all of the time in order to adjust to consumer demand and goods production. The Industrial revolution is an example of the economy switching gears. The industrial revolution increased the speed at which goods could be produced and was a milestone for global economy. You could also think of a Standard transmission like a historical economy where one person had all control (much like a standard car). An automatic economy is like a more modernized capitalist economy which relies on everyone and a larger spread of wealth.
The Transmission is like economic adjustment
Climate Control is like Government Bailouts
Consumer demand is what keeps everything in the economy running smoothly. The more consumers buy, the better the economy runs and grows. American citizens are a good example of this. They are one of the top consumers in the world and they have on of the largest and most stable economies in the world.
A countries government often will bailout big companies or manufacturers that are crucial to their economic development. They do this in case the loss of the company would damage their economy. For example, the U.S. bailed out the vehicle manufacturer GM in order for them to continue making vehicles. This bailout cost the U.S. taxpayers $11.2 billion in order to keep them out of bankruptcy but was done because GM would be more help to their economy in the long run.
The economy runs because of the workers that keep it going. Without them, the entire economy would collapse. They produce products for the consumers to buy and are the backbone of the economy. The economy takes a hit when there are no jobs for the citizens. This is very evident throughout the United States. The american president is concerned with creating jobs for american citizens because he knows that they are crucial for the economy to grow.