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GLOBALIS
M
CH
AP
TE
R 2
2. 2
GLOBALIZATION – A WORLD WITHOUT WALLS• The expansion of global linkages,
the organization of social life on a global scale, and the growth of a global consciousness; the consolidation of world society
ANTI-GLOBALIZATION MOVEMENT• Critical of the globalization of corporate
capitalism• Afraid of:• Multinational corporations having
unregulated political power• Companies maximize the profit at the
expense of work safety conditions and standards
• Call for:• Democratic representation• Advancement of human rights• Fair trade and sustainable development
OUTSOURCING• Obtain a good or service
from an outside or foreign supplier, especially in place of an internal source
EDUCATION AND GLOBALIZATION
MULTI-NATIONAL CORPORATION
• Countries that own or control production or service facilities in one or more countries other than the home country
WORLD BANK• Offers loans, advice,
and an array of resources to more than 100 developing countries for capital programs
INTERNATIONAL MONETARY FUND• Promotes international financial stability
and monetary cooperation• Goals: • Seeks to facilitate international trade• Promote high employment• Sustainable economic growth • Reduce poverty around the world
• Differences between the World Bank and IMF:• Bank – development institution• IMF – cooperative institution that seeks to maintain an
orderly system of payments and receipts between nations
THE GROUP OF 8 (G8)
• Forum for the gov’ts of a group of eight leading industrialized countries • Started in 1975 that brought together France, West Germany,
Italy, Japan, the UK, and the US• Canada was later included• Last…Russia• EU is represented within the G8 but cannot host or chair summits
BRICS NATIONS• Brazil, Russia, India, China, and South Africa• Designed to counter the power of the G8 nations• Five largest emerging national economies
WORLD TRADE ORGANIZATION• Deals with the global
rules of trade between nations•Designed to liberalize international trade•Helps to increase globalization•Works against protectionism
FREE-TRADE ZONES• Geographic area
where goods may be landed, handled, manufactured, or reconfigured, and re-exported without the interventions of the customs authorities• Organized around major
seaports, international airports, and national frontiers• EU, NAFTA
EU – LOANS TO PIIGS
• Economic and political partnership between 28 European countries
• Started with the European Economic Community (EEC) in 1958• Evolved into an organization that looks at policy as well
as economic aid• Including human rights violations
• 1993 – the name changed to the European Union (EU)
• PIIGS (Portugal, Ireland, Italy, Greece, and Spain)• Struggling countries
NON-GOVERNMENTAL ORGANIZATIONS
• Organization that is neither part of a government nor a conventional for-profit business
ENVIRONMENTAL ECONOMICS
• Different than ecological economics:• Ecological – emphasizes the economy as a subsystem
of the ecosystem with its focus on PRESERVING natural capital• Environmental – concerned with environmental issues and their affect on economics
• Sustainability – practice of trying to more modestly provide for people while balancing the ecological and environmental costs