2. Review Not just any global economy… Not just any global economy… Capitalist economy, organized around private ownership and private gain Capitalist economy, organized around private ownership and private gain Driven by profit imperative Driven by profit imperative

3. Review Capitalism has inherent globalizing tendencies, which arise from: Capitalism has inherent globalizing tendencies, which arise from: –The drive to minimize costs of resources and labor –The drive to maximize sales of new products in new markets

4. Review Consequences of global capitalism include… Consequences of global capitalism include… –Rise of differentiated core (ownership) and periphery (labor & resources) –Export of high-paying manufacturing jobs from core to periphery –Export of environmental degradation from core to periphery

5. Difference in Degree: Silk Road 130 BC

6. Difference in Kind: World Trade Organization (established 1995) [The WTO’s] main function is to ensure that trade flows smoothly, predictably, and freely…. By lowering trade barriers, the WTO’s system aims to break down other barriers between peoples and nations. [The WTO’s] main function is to ensure that trade flows smoothly, predictably, and freely…. By lowering trade barriers, the WTO’s system aims to break down other barriers between peoples and nations. -www.wto.org -www.wto.org

7. Road Map EconomicPoliticalCultural Global Organizational Country Personal Evaluation Application

8. Economic Globalization at the Organizational Level – Rise of Transnational Corporations In 2007… In 2007… –About 80,000 TNCs –About 800,000 affiliates –About $31,000,000,000,000 sales

9. TNC – Global Mergers & Acquisitions (87-06), Global FDI (70-08)

10. TNCs and the Auto Industry

11. Economic Globalization at National Level Changes what nation-states are: oriented on economic development Alternative to GDP is GNH: Economic Wellness Economic Wellness Environmental Wellness Environmental Wellness Physical Wellness Physical Wellness Mental Wellness Mental Wellness Workplace Wellness Workplace Wellness Social Wellness Social Wellness Political Wellness Political Wellness

12. TNC Sales v. National GNP

13. Governmental versus Private Capital Flows into Developing Countries 1970-95 (State of the World)