IB_303_Spring_wk2

IB_303_Spring_wk2 - 7 Globalization and the USA •...

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1 GLOBALIZATION What is it? A trend towards a more integrated and interdependent world economy .
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2 GLOBALIZATION What are its causes? Political Economic Technological Social
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3 Change in the World Economy Self contained national economy? Barriers to cross-border trade? Barriers to cross-border investment? Problems associated with distance? Problems associated with time zones? Problems associated with language? Problems associated with culture?
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4 Globalization of Markets Distinct/separate markets merging into a huge global marketplace Some consumer product markets Mostly industrial product markets MNCs are key agents on the supply side Convergence of consumers’ taste on the demand side?
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5 Globalization of Production Sourcing particular goods and services from a set of locations around the world Based on the cost and quality of the factors of production: labor, land, capital, energy & expertise
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6 Global Institutions World Trade Organization International Monetary Fund World Bank United Nations
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Unformatted text preview: 7 Globalization and the USA • Percentage of world output: • 1963 – 40.3% 2003 – 21.1% 8 Globalization and the USA • Percentage of world output: 1963 – 40.3% 2003 – 21.1% • Percentage of world exports: 1998 – 12.7% 2003 – 11% 9 Globalization and the USA • Percentage of world output: 1963 – 40.3% 2003 – 21.1% • Percentage of world exports: 1998 – 12.7% 2003 – 11% • Share of total stock of FDI: 1980 – 38% 2002 – 22% 10 Globalization and the USA • Percentage of world output: 1963 – 40.3% 2005 – 20.1% • Percentage of world exports: 1998 – 12.7% 2005 – 10.1% • Share of total stock of FDI: 1980 – 38% 2004 – 21% 11 Globalization and Exports • Exports of Goods & Services • 1980 Percentage of World Output 19% • 2002 Percentage of World Output 24% 12 The Globalization Debate • Positive & Negative Impact on: • Corporations • Jobs • Income • Environment • Culture • National Sovereignty...
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IB_303_Spring_wk2 - 7 Globalization and the USA •...

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