1 / 15

Regulating Globalization

Regulating Globalization. Lesson 2. Objectives. Review economic systems. Review key economic terms. Introduce trade agreements and regulating bodies. Identify issues and controversies surrounding globalization. Warm Up. What is economics? Way in which we manage resources to meet needs

hilde
Download Presentation

Regulating Globalization

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Regulating Globalization Lesson 2

  2. Objectives • Review economic systems. • Review key economic terms. • Introduce trade agreements and regulating bodies. • Identify issues and controversies surrounding globalization.

  3. Warm Up • What is economics? • Way in which we manage resources to meet needs • What factors drive global economic decision-making? • Scarcity • Supply & Demand • Opportunity Cost • Comparative Advantage

  4. Review Activity • Decide as a class how to line yourselves up according to term on card… • You must be able to connect to each term on your right and left!

  5. Review • What is globalization? • Growing integration of the world’s economies and societies. • When/Why? • How?

  6. Globalization: Issues and Controversies • National Sovereignty • Loss of Cultural Identity • Free Trade or Fair Trade • Globalization & Human Rights • Globalization & Migration • Emerging Powers • Global Economic Crisis

  7. Trade Agreements and Regulating Bodies • Regional Trade • Promote and regulate trade between countries in specific regions, exception to MFN status • NAFTA (US, Canada, Mexico) • EU (European Union) • AU (African Union) • ASEAN & SAFTA (SE Asia) • MERCOSUR (S. Amer) • GAFTA (Greater Arab)

  8. Trade Agreements and Regulating Bodies • International Trade • Monitor trade practices between nations and implement fair trading practices • IMF • World Bank • WTO

  9. Activity • Quiz “What’s Up with Trade?” • Answers: • B • D – 2013: 5-7% • D • B • X – 2013: 4m (women) in 5K factories , $19b/yr • C • D • Which was the last nation to become a member?

  10. Trade Agreements and Regulating Bodies • International Monetary Fund (IMF) • 1944, Bretton Woods NH • HQ Washington, DC • Purpose: • Aid to countries in economic crisis • Stabilize internatl financial and currency markets • Membership • 188 Nations • Donate & vote based on % of global economy • Christine Lagarde MD • Functions • Surveillance/Monitoring • Short Term Loans • Technical assistance

  11. Trade Agreements and Regulating Bodies • World Bank • 1944, same as IMF • HQ: Washington, DC • Purpose: • Financial aid to developing countries for long-term development • Membership • 188 Nations • Fee based on % • 24 Executive Directors • Functions • Financial loans • Technical assistance

  12. Trade Agreements and Regulating Bodies • World Trade Organization (WTO) • 1995 permanent • HQ Geneva, Switzerland • Purpose: • Oversee international trade • Multilateral Trade Talks (“Rounds” – Doha Dvpt Round since 2001) • Membership • 159 Nations (24 Applying) • Consensus decisions • Functions • Oversee GATT (Gen Agreement on Trade & Tariffs) • Rules for free/fair trade • Settle disputes • Settle disputes • Intellectual Property

  13. Principles of the WTO • Trade Without Discrimination (MFN) • Regional groups • Developing nations • Freer Trade • Progressive Liberalization • Predictability • Transparent • Binding • Promoting Fair Competition • Protection • Compensation • Development & Reform • Time & assistance (market/technical) to developing countries

  14. Closure • Why are trade groups important to the global economy? • Help free barriers, dvp/expand economies, maintain flow, set rules

  15. Homework • Sesame Street Around the World • The Globalization of Coke OR McDonaldization • Rap Topics

More Related