Key terms
the process of reducing government restrictions on an economy
Economic Liberalization
What is an example of Economic liberalization?
Reducing Trade Barriers or Deregulation or Privatization
Which leader introduced economic reforms in China that led to globalization?
Deng Xiaoping
What are three environmental impacts?
Increased carbon emissions
Deforestation
Resource depletion
increasing integration of the world’s economies, cultures, and population
Globalization
What are some examples of multinational corporations?
Apple,Coca-Cola, Toyota
What were two effects of the structural adjustment programs promoted by the IMF and World Bank in the 1990s?
helped reduce inflation and increased poverty
Which two key agreements focus on addressing climate and environmental issues
Kyoto Protocol (1997)
Paris Climate Agreement (2015)
a economic system that is controlled by supply and demand (little to no government control)
Free Market
what are some real-world examples of free markets?
farmers markets, stock markets, and app markets.
What agreement reduced trade barriers between the U.S., Canada, and Mexico?
NAFTA (North American Free Trade Agreement)
What social tension arises from the competition between small-scale farms and imported goods?
Debates over the loss of local industries, and small-scale farmers and artisans struggling to compete with cheap imported goods.
a business that is operated in more then one country
Multinational Corporations
what is an example of economic globalization?
McDonalds, Tiktok, amazon, apple
Which economic policy introduced by Deng Xiaoping helped China become a global manufacturing hub?
Special Economic Zones (SEZs)
What are three causes of economic inequality?
Globalization
Automation
Dependence on resource exports