What Is Globalization?

Rapid population growth increases

________ demand for goods and services.

Trump

________ ignites a tit- for- tat trade war with China, leading to tariffs covering over half of the goods traded between the two countries by September 2019.

President Donald J Trump

________ disrupts the world trading and supply chain system by withdrawing from the Trans- Pacific Partnership (TPP), forcing a more restrictive rewrite of NAFTA, hampering the WTOs ability to settle trade disputes, and threatening or imposing tariffs on allies like Canada, South Korea, and the European Union over dubious national security concerns.

International Monetary Fund

The ________ (IMF) and other institutions impose strict austerity and free market rules on Latin American countries in return for aid, causing backlash.

European Union

The formation of the ________ solidifies the single market that began developing in the 1950s, leading to the creation of the euro currency in 1999.

England

________ becomes first country to formally adopt gold standard- meaning currencies are convertible to a specific amount of gold- creating stability in exchange rates and facilitating trade and investment.

distant places

Since ancient times, humans have sought ________ to settle, produce, and exchange goods enabled by improvements in technology and transportation.

China

________ pledges to expand purchases of certain US goods and services by an additional $ 200 billion by the end of 2021 under the "phase one agreement "of January 2020, but has largely fallen short of targets.

Petroleum Exporting Countries

Energy prices spike, set by the Organization of the ________ (OPEC), triggering high inflation and unemployment throughout global economy.

Nixon

US inflation and trade imbalances compel ________ administration to end dollar convertibility to gold for foreign governments.

Western nations

________ capitalize on natural resources provided by colonies and foreign markets, use force and economic pressure to open China and Japan.

free trade agreement

It is the first ________ between the United States and a developing country.

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