What is globalization?



What is globalization?The term globalization refers to the integration of economies, cultures, and government policies around the world. This integration is nothing new. From the earliest small tribal groups to large modern nation-states, trade and investment between peoples has characterized the world's economy for centuries.How is pop culture an example of globalization?Popular culture is a good example of globalization. The Internet, along with international media outlets such as MTV and CNN, have sped the globalization of popular culture. Teenagers around the world can watch the same videos, listen to the same music, and wear the same clothing styles. Television audiences around the world can experience the same major news and sporting events. These shared experiences can help foster a sense of global community.How does globalization affect the world's economy?Large companies can organize production on a worldwide scale. Each step in the manufacturing process is carried out in the most advantageous geographic location.For example:So what's the problem?As globalization proceeds, forces beyond the control of national governments can affect the economic welfare of individual people. For example, an economic crisis in Asia could cause job layoffs in Eastern Europe. Or, workers in one country might lose their jobs when a multinational corporation moves its operations to a country where workers are paid less. Some critics of globalization worry that individual nations have lost control of their own economies. Institutions designed to foster global economic growth and trade, such as the World Trade Organization and the World Bank, have become targets of criticism and protest. Some people believe that these organizations are too powerful and make decisions that have harmful effects on individuals and the environment. To some, global free trade is just an excuse to increase the wealth and power of multinational corporations.Copyright ? 2014 SAS Institute Inc., Cary, NC, USA, All Rights Reserved GlobalizationPart 1: The World Trade Organization Site 1 to answer the following questions about the World Trade Organization:How many member countries are in the WTO?What is at the heart of the WTO system? What is the stated purpose for WTO agreements?Describe the WTO's trade main trade agreement, The General Agreement on Trade and Tariffs (GATT). Briefly describe one important benefit of the WTO's trade agreements. Site 2 to create a pro/con chart on fair trade practices.ProCon ................
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