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3.3-3.6 Economic Globalization
Transcript of 3.3-3.6 Economic Globalization
Exploring the Issue:
Bretton Woods Agreements
Modern globalization: Historical Background
Media & Transportation Technologies
Expansion of Globalization after WW2
formed to increase trade
Expansion of Globalization:
Reducing trade barriers
grew in size and number
To what extent does economic globalization contribute to sustainable prosperity for all people?
Great Depression: 1929-1930's
Approximately 60 Million Dead
Much of Europe and Asia in Ruins
Economic Ideas Contributed to Globalization
In groups of 2-4 talk about the following questions.
One member of the group will write your ideas on the whiteboard.
You have 2 minutes to consider each question.
18 million Dead
Communist Revolution in Russia
Governments Deeply in debt
In October 1929 the stock market crashed
Many lost their life savings.
Factories shut down
Farm income fell some 50 percent.
Cordell Hull US President Roosevelt's Secretary of State
What does ECONOMIC GLOBALIZATION mean?
Is it important?
Why is it complicated?
Who does it effect?
World Trade Organization (1995-)
Expansion of globalization since WW2
Improved Communication & Transportation
The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
Transnational Corporations: More & Larger
Using your phone search for: "countries by GDP"
It should be a list from world Bank, IMF or UN.
Compare companies revenues from the list with countries GDP.
tariffs, trade barriers & unfair economic competition
Rules for international trade
Generally strong economies & international trade
Tariffs are designed to...
Tariffs are used to protect consumers:
Government places tariffs on harmful goods to....
Copy and complete the statements-then share with a neighbor
Germany & Japan both have democratic governments
International relations are relatively peaceful
Tariffs are used to protect domestic jobs:
If consumers buy less-expensive foreign goods...
Tariffs are used to protect infant industries:
tariffs make it more expensive for consumers to purchase foreign goods so...
Tariffs are used to retaliate:
If another country does not play by the rules tariffs are used to...
How do we create prosperity?
Sum it up:
Write a short summary describing how transportation and communication are changing the world