Globalization and Economic Impact Assessment

The video discusses globalization's impact on the economy, highlighting the shift of manufacturing jobs overseas and the increasing global revenue of U.S. companies. It examines China's economic growth and its global effects, emphasizing the need for a global perspective in economic policy. The video also explores technology-enabled disruption, which is often confused with globalization, and its impact on job markets. It stresses the importance of workforce development and education to adapt to these changes.

What was one of the initial impacts of globalization on U.S. manufacturing jobs?

• Higher labor rates

• Decrease in global trade

• Off-shoring of jobs

• Increased job opportunities

How has globalization affected the revenue sources of the S&P 500 companies?

• Decreased international revenue

• Larger share from outside the U.S.

• Increased domestic revenue

• No change in revenue sources

What percentage of U.S. imports from Mexico is U.S. content?

• 50%

• 40%

• 30%

• 20%

How does the integration of supply chains with Mexico affect U.S. competitiveness?

• Increases competitiveness

• Has no effect

• Leads to job losses

• Reduces competitiveness

What has been a significant factor in China's economic growth?

• Decreasing debt levels

• High growth rates

• Reducing global GDP share

• Stable currency outflows

What is a potential global impact of China's currency outflows?

• Increased global stability

• Strengthening of the U.S. dollar

• Ripple effects and spillovers

• No effect on global markets

How does globalization affect prices according to the transcript?

• Increases prices

• Leads to price stability

• Decreases prices

• Has no effect on prices

What is a key difference between globalization and technology-enabled disruption?

• Technology disruption is unrelated to jobs

• Globalization is a recent phenomenon

• Technology disruption is often confused with globalization

• Globalization affects only the U.S.

Which industry has been disrupted by digital technology?

• Construction

• Film industry

• Agriculture

• Healthcare

What is a suggested way to help workers adapt to technology-enabled disruption?

• Limit technology use

• Encourage job stability

• Reduce educational attainment

• Increase skills training