The Costs and Benefits of Globalization Do the

The Costs and Benefits of Globalization Do the benefits outweigh the cost?

Main Players in the Globalization Debate • Four types of organizations play key roles: – International organizations • WTO, UN, World Bank, IMF – Non-governmental organizations • World Wildlife Fund, Sierra Club – Multinational corporations • Mc. Donalds, Goggle – Sovereign nation-states • United States, G 8 • The IMF and foreign debt – Policy of debt forgiveness? • Globalization Index – Large capital flows through trade and investment; higher on the index • 2009 – Belgium vs West Bank and Gaza

Globalization Helped or Hindered Economic Develop? • Economic Development: the process by which nations increase their economic output and improve their citizen’s lives • WTO and World Bank classifications – Based on GDP • Developed, developing, and least developed • UN uses the HDI (Human Development Index) – Life expectancy, education, and standard of living • 1/6 th in extreme poverty – Living on less than $1. 25 a day

Globalization Helped or Hurt the Environment? • World-wide industrialization – Strain on natural resources, exploitation by multinational corporations • Protection of the resources – May solve problems like climate change/endangered species through international cooperation

Does Globalization Enrich or Threaten Local Cultures? • The threat of Americanization? – Western ideas and products overwhelm local communities and cultures • Enrichment of cultures? – New ideas, technologies, foods, arts – Multinational corporations adapt products and business practices to conform to local traditions