Globalization LG2: Describe the economic and social impact of 20th century globalization and describe the role technology played in developing the modern global economy and society.

Economic Globalization Colonialism and global trade is not new True global economy emerged second half of the 1800s Globalization: process of increasing the interdependence of the world’s economies Multinational corporations Expanding free trade Trade blocs

Multinational Corporations Companies that operate in multiple countries Exxon Mobil, General Motors, Toyota, etc. Factories and centers are located all around the world allowing companies to locate near raw materials, the cheapest labor, and the consumer market

Manufacturing Plant Assembly Factory Common Market/Consumer Distribution Center

Technology and the World’s Economy Robotic arms  assembly lines – reduce need for factory workers Computerization  communicate and process info quickly and cheaply – “knowledge workers”

Expanding Free Trade Regulate trade barriers or tariffs General Agreement on Tariffs and Trade (GATT) World Trade Organization (WTO) Regional and World Trade Blocs European Union (EU) North American Free Trade Agreement (NAFTA) Organization of the Petroleum Exporting Countries (OPEC)

Globalization of a Sneaker Use the reading to complete the questions and map provided.

Create a T-Chart Draw a T-Chart in your notebook. Title one side Case FOR Globalization and one side Case AGAINST Globalization. Make sure you leave a few lines of space under your chart.

Case FOR Globalization New jobs are created in developing countries Standard of living increases Offshore production keeps costs low which lowers prices for the consumer Countries that trade with one another are less likely to go to war against each other Cultural Diffusion Exchange of ideas, technology, music, etc. Creates a sense of world community

Case AGAINST Globalization Some developing countries lack laws to protect the environment Habitat destruction, pollution Lack of worker protection laws Sweatshops Outsourcing – sending jobs overseas - takes jobs from developed countries (like the US) Erodes traditional ways of life and local cultures

Exit Ticket Under your chart answer the following questions before you leave. Overall, is globalization a more positive or negative? Support your answer with information from your notes.

Optional Videos https://www.youtube.com/watch?v=JJ0nFD19 eT8 https://www.youtube.com/watch?v=xPD477F uqtY