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Globalization's Key Players and Impacts

Explore the roles of transnationals, international banks, and governmental organizations in globalization. Learn about their functions, benefits, negative consequences, and overall impact on the global economy.

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Globalization's Key Players and Impacts

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  1. Major Players in Globalization HSB4M Chapter 10 Unit 3: Social Challenges

  2. Large Manufacturing Corporations • Also known as • transnationals • multinationals • What do they do? • They sell goods, manufactured products • Where do they do it? • Production done in countries where wages are low and costs are low and taxes are low in order to make profit (developing countries). Products tend to be sold in developed countries to people who have disposable income. • Role in globalization: suppliers Unit 3 Detour worksheet, Q2b

  3. Large International Banks • Such as RBC, HSBC (“the world’s local bank”) • Why do they use these acronyms? • To appear more generic • What do they do? Sell financial services (financialization = …) • Who benefits? • Banks, corporations, the economy, financial elites (“1%”) • Negative consequences? • Income can become concentrated in the hands of the wealthy (financial elite) – income inequality • Role in globalization: facilitators Unit 3 Detour worksheet, Q2b

  4. International Governmental Organizations What do they each do? • WTO: World Trade Organization – reduces restrictions on int’l trade • WB: World Bank provides loans to developing countries • IMF: International Monetary Fund maintains stable exchange rates to increase world trade • Role in globalization: regulators/promoters Unit 3 Detour worksheet, Q2b

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