GLOBALIZATION

a process of interaction and integration among the people, companies, and

governments of different nations
international tradeandinvestmentand aided byinformation technology.
affects theenvironment, culture, political systems, economic developmentand
prosperity, and the human physical well-being
technology enabled people to trade and interact over great distances
search for spices = increasing global trade

CHRISTOPHER COLUMBUS
explorer and navigator
father of globalization founder of the americas
named america after his cartographer (map maker)

THE SILK ROAD

historys first world wide web
network of trading routes
europe oil, jars
china silk, jade (raw materials)
india cotton
arabia spices

VIKING TRADERS
international tradesmen
successful traders

THE RIPPLE EFFECT as countries become more economically

interconnected through trade, they also become more connected to events that
occur in other countries

BENEFITS OF GLOBALIZATION
ECONOMIC EFFICIENCY
theory of comparative advantage: two countries, regardless of their
development status, can benefit from a division of labor through trade
allow countries to specialize in particular industries and maximize the
efficiency of their economies (working together = more money)

RISING STANDARDS OF LIVING

foreign investments = jobs
investing money in developing countries will help in the improvement of
infrastructure such as roads, buildings and telecommunications

SPREAD OF IDEAS
globalization allows people in all parts of the world to learn about ideas from
other places (through social media and other platforms)
concepts and values have spread which creates global accountability

IMPACT OF MULTINATIONAL CORPORATIONS

multinational corporation: a corporation that manages and delivers services in
more than one country
increase in growth and size as globalization has expanded
dominate local markets & take control away from local producers = economic
instability
outsourcing- moving certain jobs overseas to be done by foreign workers for
lower wages

CHALLENGES OF GLOBALIZATION
CULTURAL HOMOGENIZATION
extinction of languages and cultures
diffusion of native cultures into a more global culture
fast-food culture introduces obesity, diabetes and other "western" diseases

ILLICIT TRADE: FIVE WARS OF GLOBALIZATION

drugs
arms trafficking
intellectual property
people
money

ENVIRONMENTAL DEGRADATION
economic globalization leads to an increased need for natural resources such
as oil, timber and metals.
between 1950-2004: world's population doubled, consumption of oil gas
increased fivefold
resource scarcity fueled conflicts.