Economic Globalization

Local issues, like worker exploitation in sweatshops (or wildlife markets) can become major global issues like global income disparity (or pandemics) showcasing just how much the world has become more ___________ with globalization, economic or otherwise.

• Sovereign

• Interdependent

• Culturally Relevant

• Isolationist

This institution (and/or its acronym) regulates world economic transactions by insisting that global peace be best maintained through tariff free, economic globalization and, in particular, the process of trade liberalization: (three words, or the acronym)

The entities listed on the attached world map can best be described as:

• Multicorps

• NGOs

• UNESCO

• Transnationals

A major difference between NAFTA (1993-2018) and the USMCA (2018 - present) revolves around American insistence that Canada:

• Open up 3% of its dairy market to large-scale produced USA milk products

• Is free & sovereign to make any economic deal it likes with China

• Has no mechanism of disputing tariffs American imposes on Canadian made goods

• Offer cheaper streaming services to downplay international copyright issues

The development of a worldwide economy where resources flow fairly freely across borders.

• Globalization

• Economy

• GDP

• Economic Independence

The main effect of the General Agreement on Tariffs and Trade (GATT) on the United States was ​ (a)  

• increased access to foreign markets

• decreased employment for women and POC

• increased availability of foreign workers

• decreased funding for national parks

Referring to the video, identify and explain at least ONE criticism directed at Wal-Mart - the retail superstore that has benefited directly, and handsomely, from economic globalization in the past 30 years?

State ONE fundamental difference between the ideas of economic globalization presented by John Maynard Keynes at the Bretton Woods Conference in 1944 and those of Frederich Hayek (think in terms of the role of government in managing YOUR economy and economic future)

What roles do the World Bank and the IMF play in today’s global economy?

• Important roles

• Minor roles

• No roles

• Opposing roles

A large company such as McDonalds that has operations in more than one country.

• Domestic Corporation

• Multinational Corporation

• Foreign Corporation

• State Corporation