Globalisation

what is globalisation?

• the growing integration of the world's economies

• treating the world as separate markets

• decreased interdependence of peoples and countries

• spread of flow of goods between certain countries

what are two key advantages of globalisation?

• trade barriers e.g. tariffs and quotas

• an interchange of technology and intellectual property across borders

• people are able to live and work in a country of their choice

• restricts number of immigrants

_______ Trade Agreement

• Free

• Foreign

• Financial

• Fair

what is a Free Trade Agreement?

• an agreement of the WTO to promote tariffs and other barriers between countries

• an agreement to increase tariffs of products being traded

• an agreement between countries to remove tariffs from products being traded

• an agreement which encourages trade and decreases economic growth

FDI occurs when...

• controlling ownership in a business in the company's own country

• give a stake or interest in their company to an investor located outside its borders

• purchase 10% or less in a foreign business

• a company makes an investment in a foreign country

the exchange of goods and services by sale driven by the need for resources.

• fair trade

• trade

• globalisation

• standard of living

according to CNN, the USA receives 80% of its avocados from Mexico. Mexico receives most of its auto parts from the USA.

this is an example of the following...

• supply and demand

• infrastructure

• interdependence

• globalisation

a large company that has operations in more than one country

• multinational corporation

• domestic corporation

• foreign corporation

• state corporation

what are some negatives of globalisation

• workers are exploited in sweatshops

• pollution and deforestation

• low wages for factory workers in Asia and Africa

• all answers are correct

Draw NAFTA