Globalization and Its Impacts

Globalization is the worldwide movement of people, ideas, and goods, historically exemplified by the Silk Road. Today, its scale and speed have increased, affecting technology, trade, and economies. While it offers benefits like increased consumer choices and technological access, it also poses challenges such as job loss due to automation and economic disparity. Governments can manage globalization through policies and international cooperation, balancing its benefits and challenges.

What historical trade route is mentioned as an early example of globalization?

• The Trans-Saharan Trade Route

• The Amber Road

• The Silk Road

• The Spice Route

What is new about modern globalization compared to historical globalization?

• The types of goods traded

• The scale, velocity, and range of flows across borders

• The use of currency

• The involvement of governments

Which of the following is an example of how quickly modern globalization can spread something?

• The spread of the Renaissance

• The spread of the Industrial Revolution

• The spread of Ebola or COVID-19

• The spread of the Black Death

How has technology impacted globalization?

• It has made it harder to access news

• It has allowed billions to contact friends and access news globally

• It has slowed down the spread of ideas

• It has reduced the number of international supply chains

What is one downside of technological innovation in manufacturing?

• Decreased product quality

• Elimination of jobs due to automation

• Slower distribution of goods

• Increased production costs

Between 1980 and 2019, how much did global exports and imports of goods increase?

• By nearly five times

• By nearly ten times

• By nearly twenty times

• By nearly fifty times

What is one positive effect of increased trade?

• Increased job losses

• Strengthened ties between trading partners

• Reduced consumer choices

• Higher consumer prices

How can governments respond to globalization?

• By ignoring international trade

• By choosing how open or closed they want to be towards trade and investment

• By becoming entirely self-sufficient

• By banning all forms of technology

What has emerged to manage globalization?

• National institutions

• Local governments

• A set of international institutions and arrangements

• Individual corporations

What is a challenge for individual governments regarding globalization?

• To reduce international cooperation

• To increase the gap between the rich and the poor

• To eliminate all forms of globalization

• To promote globalization's benefits while helping those negatively affected