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GLOBALIZATION

GLOBALIZATION. GLO BALIZAT ION. International Trade. the exchange of goods and services across international borders. Globalization.

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GLOBALIZATION

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  1. GLOBALIZATION GLOBALIZATION

  2. International Trade • the exchange of goods and services across international borders

  3. Globalization • the process by which regional economies, societies, and cultures have become integrated through a global network of political ideas through communication, transportation, and trade

  4. World Trade Organization • An international agency which encourages trade between member nations, administers global trade agreements and resolves disputes when they arise.

  5. European Union • An economic and political association of certain European countries with internal free trade and common external tariffs. • November 1, 1993 • 27 member states • 16 use the euro

  6. NAFTA • North American Free Trade Agreement • 1994 • United States, Canada, and Mexico • Removed tariffs to encourage free trade

  7. CAFTA • Central America Free Trade Agreement

  8. Command Economy • is planned and controlled by a central administration • as in the former Soviet Union • Communism or Autocracy

  9. Market Economy • An economy that operates by voluntary exchange in a free market • Free enterprise • Supply & Demand

  10. Traditional Economy • an economy based on custom and tradition

  11. Triangular Trade • 18th Century • slaves were bought on the African gold Coast with England rum and then traded in the West Indies for sugar or molasses, which was brought back to England to be manufactured into rum.

  12. Colombian Exchange • a dramatically widespread exchange of animal, plants, culture (including slaves), communicable diseases, and ideas between the Eastern and Western hemispheres

  13. Draw this diagram in your notebook

  14. Silk Road • An ancient caravan route that linked Xian in central China with the eastern Mediterranean

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