Globalization and Economic Changes After 1900

The video explores the impact of globalization on economics post-1900, focusing on the shift towards neoliberalism in the US, UK, and Chile. It discusses the geographical distribution of economic activities, highlighting the rise of knowledge economies in developed countries and manufacturing in developing regions. The role of global economic institutions like the WTO and regional agreements such as the EU and ASEAN is examined. Finally, the video addresses the rise of multinational corporations and their global influence.

What major economic shift occurred in the 1980s as a result of globalization?

• Expansion of agricultural economies

• Increased government control over economies

• Adoption of neoliberal free-market policies

• Rise of communism in Western countries

Which economic policy was NOT emphasized by Ronald Reagan?

• Expansion of social welfare programs

• Reduction in income taxes

• Increase in military spending

• Deregulation of businesses

What was a key feature of Margaret Thatcher's economic policies?

• Increase in tariffs

• Expansion of labor unions

• Privatization of state-owned assets

• Nationalization of industries

Who were the Chicago Boys in the context of Chile's economic reforms?

• International trade negotiators

• Economists from the University of Chicago

• Political activists

• A group of military leaders

What was a significant change in the global distribution of work post-1970s?

• Manufacturing remained in developed countries

• Knowledge work became prominent in developing countries

• Manufacturing shifted to developing countries

• Agriculture became the main economic activity

Which country invested heavily in communication technology and education to transition into a knowledge economy?

• Brazil

• United States

• Finland

• China

What role does the World Trade Organization (WTO) play in the global economy?

• Controls the monetary policies of countries

• Oversees international military agreements

• Regulates global trade and assists in trade negotiations

• Manages global environmental policies

What is the primary purpose of the European Union (EU)?

• To establish a single European language

• To promote cultural exchange

• To facilitate trade and economic integration among member countries

• To create a military alliance

Which of the following is an example of a multinational corporation?

• A local bakery

• Nestle

• A national bank

• A regional supermarket chain

What is a characteristic of multinational corporations?

• They focus solely on agricultural products

• They manufacture and sell goods in multiple countries

• They are owned by government entities

• They operate only within their home country