Focus The Impact of Globalization Chapter 4 pp

Focus: The Impact of Globalization (Chapter 4 – pp. 160 -169)

Globalization • An international network of communication, technology and trade • Free market capitalism • International corporations • International organizations like the WTO, the IMF and the World Bank http: //access. cappelendamm. no

Impact • Extremely productive • Creation of new inventions and brand names • New – earlier hostile – nations now members • The “consumer economy” gone worldwide (Picture: Mc. Donald’s advertising in Beijing, China) http: //access. cappelendamm. no

Anti-globalization (alter-globalization) wishes to: • • Preserve local cultures Make decisions locally Stop endless growth Close the gap between rich and poor • Avoid the control of international corporations and organizations http: //access. cappelendamm. no

Supporters of globalization claim it has: • Reduced poverty • Improved life expectancy • Spread democracy • Reduced malnutrition • Reduced inequality http: //access. cappelendamm. no

The Great Recession • A sharp decline in the global economy • Governments cut down on public spending • Unemployment and poverty spread around the globe • Protests: the Occupy Wall Street movement and others

Positive aspects? • The BRIC countries not as affected • Less pollution due to decreased production and consumption • Signs of recovery (e. g. General Motors), • But the global recession is far from over …

The Future • Inequality remains • Globalization will make people richer! • Globalization will make people poorer! • The debate will go on …