Globalization What is Globalization w Combination of trade

Globalization

What is Globalization? w Combination of trade and mixing of cultures on a worldwide scale w Trade & cultural interactions often caused through advances in technology.

History of Globalization w “First era of globalization” – 19 th century w Imperialism – economic & political domination of one culture by another w Based on the Pax Britannica w Ended with WW I

Pax Britannica: Period of British Imperialism & expansionism after 1815 Battle of Waterloo

Globalization since WWII w Emphasis on trade w Agreements reached through negotiations w GATT w WTO w OPEC w NAFTA

GATT: General Agreement on Tariffs & Trade w Began in 1944 to prepare for economic recovery after WWII w Goals: reduce tariffs & trade barriers

WTO: World Trade Organization w Replaced GATT in 1994 w Sets rules for global trading w Resolves disputes

WTO Member States

OPEC w Organization of Petroleum Exporting Countries w Founded in 1960 w 12 oil producing nations w Middle East largest producers

OPEC

NAFTA: North American Free Trade Agreement w 1994 free trade agreement between Canada, U. S. , & Mexico w Free Trade: unhindered flow of goods & services between countries

Capitalism w. Economic system w. Predominantly privately owned w. Operated for profit w. Employment of labor

Globalization and Cultures Immigration: the act of relocating to another country or region with the intent to stay permanently

Globalization and Cultures w Travel w Tourism

Globalization and Cultures Music

Globalization and Cultures Food

Globalization and Cultures Language

Globalization and Cultures Religion

Globalization and Cultures Communication

Outsourcing: shifting operations to another country

Arguments for Globalization w Represents “people of the world” w Free trade for all w Increased employment w Outsourcing w Capitalism

Arguments Against Globalization w Interests of the poor and working class are not considered w Free trade for all? w Dominant cultures force their customs on other cultures w Terrorism w (Racism)