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Globalization

Globalization. Expanding Globalization. WHAT DO YOU BELIEVE IS MEANT BY EXPANDING GLOBALIZATION? WHAT CAN BE A FACTOR TO EXPANDING GLOBALIZATION?. How Do International Agreements And Organizations Contribute To Expanding Globalization?.

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Globalization

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  1. Globalization Expanding Globalization

  2. WHAT DO YOU BELIEVE IS MEANT BY EXPANDING GLOBALIZATION? WHAT CAN BE A FACTOR TO EXPANDING GLOBALIZATION?

  3. How Do International Agreements And Organizations Contribute To Expanding Globalization? >A factor of expanding globalization is reducing trade barriers so that goods and services can move around the world easily. This is called Trade Liberalization. >In order for liberalization to take place these things must be removed: • Tariffs • Quotas • Regulations >When two countries agree to eliminate all tariffs and taxes on goods and services traded between them, the result is called Free Trade. >Creates jobs, uses resources, and reduces the cost of consumer goods.

  4. Name the widely known, and one of the earliest developed Free Trade agreements? *hint: movie

  5. The World Trade Organization • The WTO was established in 1995 to increase international trade by lowering trade barriers • Decisions are made by coming to a Consensus - a general agreement - which all the members support. • The WTO: • Ensures that the terms of trade agreements are followed • Settles trade disputes between governments • Conducts trade negotiations.

  6. WHAT DO YOU THINK THE WTO USED TO ENFORCE DECISIONS? *hint: economic actions

  7. Sanctions • WTO has the power to enforce Sanctions - economic actions such as trade boycott - to enforce decisions • WTO used this power to resolve disputes in trade between nations

  8. Example of Dispute in the WTO • 2002 Canada asked the WTO to rule on a longstanding dispute with the US over softwood lumber. • 2006 WTO finally ruled in Canada’s favor, removing American tariffs on Canadian lumber and required the U.S to repay almost 80% of the more than 5 billion it had collected in tariffs on lumber imports from Canada

  9. WHAT DO YOU BELIEVE ARE REASONS THAT PEOPLE OPPOSED THE WTO?

  10. Opposing the WTO • There are many that oppose the trade liberalization that fosters globalization, targeting the WTO. • Their point: • The WTO has too much power. It can force countries to change their regulations to make them fit into WTO rules • The WTO is not democratically accountable. Hearings on trade disputes are closed to the public and the media • The WTO does not care enough about the problems of developing countries.It has not forced rich countries to fully open their markets to products from developing countries. • The WTO has not done enough about the environment, child labor, worker’s rights, or health care

  11. WHAT DO YOU BELIEVE ARE REASONS PEOPLE SUPPORTED THE WTO?

  12. Supporting the WTO • People that supported the WTO said that the WTO had managed to raise – and would continue to raise- living standards around the world, providing numerous opportunities for ultimately everyone.

  13. WHAT IS ONE OF THE BIGGEST FREE TRADE AGREEMENTS THAT CANADA IS PART OF RIGHT NOW? *hint: Most recent member is Mexico

  14. North American Free Trade Agreement • Went into effect 1998 • Expanded to include Mexico in 1994 • Eliminated all trade barriers between these three countries • Different opinions arose because this was the first free trade agreement between countries with such different levels of development

  15. WHAT GROUPS DO YOU SUPPOSE SUPPORTED NAFTA? WHAT GROUP WERE LIKELEY TO OPPOSE IT? WHY?

  16. Changes in Economics NAFTA • Canadian exports to Mexico increased fourfold (1993-2005) • Canadian exports to U.S rose $359 billion in 200 from $183 billion in 1994 • Canadian investment in the U.S tripled • Canadian investment in Mexico rose 200 percent • Since NAFTA came into effect, the Canadian Economy has grown an average of 3.4 a year and 2.5 million new jobs have been created.

  17. Poll on Public Opinion on weather they had Won or Lost as a result of NAFTA

  18. There were definitely positives and negatives for each country involved in NAFTA

  19. Many believed that Mexico was the most negatively affected country from NAFTA. Why do you think that is? How was Canada negatively affected?

  20. The European Union • Created a liberalized trading area in Europe • Came into effect in 1991 after more than 40 years of negotiation • EU enables members to take advantage of the opportunities created by economic globalization while protecting them from certain aspects of globalization (pressure to reduce spending on social programs) • Also serves as a parliament

  21. WHICH OF THE TWO TRADE AGREEMENTS DO YOU THINK HAS A GREATER GDP? POPULATION?

  22. The European Union and NAFTA (2006)

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