Unit 6.5: Globalization

explain the role of global trade in globalization

explain the role of global trade in globalization

Global trade networks facilitate movement of goods, people, and culture. Globalization has reconstructed the global economy and has created circumstances for closer international relations worldwide.

explain the pros and cons of fast fashion

Pros:

mass customization, more affordable clothing, cultural exchanges

Cons:

• pollution

• child labor

• abuse within the work force

• unsafe factories & working conditions

• companies taking advantage of cheap labor

explain the impact of containerization on globalization

It has allowed the world to trade much more efficiently. Containers have been standardized and the logistics have been perfected to create a well-oiled machine.

describe the pros and cons of globalized culture

Pros:

• people are able to be much more connected to people around the world

Cons:

• people have start to loose parts of their culture if there is too much influence from outside parties

globalization

international flow of goods, capital, people, and culture that has created an increasingly connected world

containerization

Containers are one of the most important innovations in global trade because they are standardized globally and they can be simply taken onto and off of ships.

fast fashion

Cheap mass-produced imitations of high-end clothing and footwear, often sold online. Business model that relies on industrial technology, a connected world, as well as cheap lab. Its practices are exploitive and it has a detrimental impact on the climate.

Malcolm McLean

Truck driver who decided to stack metal containers onto a ship. It made shipping a lot easier because the containers could be easily moved onto a truck.

Suez Canal

Man-made canal that connects the Red Sea and the Mediterranean sea. It saves ships from having to go all the way around Africa to get to Europe. It is one of the world’s most used shipping lanes.

Panama Canal

The building of the panama canal was the most important engineering project of the time. It cost thousands of lives and millions of dollars. It took 10 years to construct but it saves shipping business a lot of time and money. Is a connection between the Atlantic and the Pacific

Rana Plaza

The collapse of this building caused companies to reevaluate and also caused mass protests for safer working conditions and better wages.

Cato Institute

a conservative institution who wrote an article about the positive effects of fast fashion.

International Trade Deals

They slash trade barriers and harmonize commercial policies towards the rest of the world.

Fair Trade

Fair trade is for the people, works outside of the market and relies on business and people to support the fair trade movement. It focuses on global equity.

Protectionism

These policies are designed to keep domestic forms or workers buffered from foreign competition. This may come in forms of tarrifs, quotas, or non-tarrif barriers.

International Banking

the practice of providing financial services across international boundaries

Trade Deals

They were done to slash trade barriers and harmonized the commercial policies toward the rest of the world.

European Union

Originally a international trade agreement, they are now a supranational group that has eliminated border control and visa’s for their own citizens.

Global Climate Change

everyone messed up .

HIV/AIDS

globalization has allowed the spread of diseases as well

Chernobyl

The chernobyl incident forced the global community to reevaluate their nuclear weapons safety. It jump started global nuclear safety.

Homogenization

domination of 1 culture

Hybridization

the mixing of cultures as they spread