Basics of Globalization
What does Globalization mean?
What is the growing connection of economies, cultures, and populations
What ancient trade route helped early globalization?
What is Silk Road
What waterway carries about 25% of the world’s oil?
What is Strait of Hormuz
What does NIDL stand for?
What is New International Division of Labour
What economic system supports globalization?
What is Capitalism
What helps connect countries physically in globalization?
What time period spread goods and ideas through exploration?
What is Age of Exploration
What happens to prices when global supply is disrupted?
Prices go up (inflation)
Why do companies move factories to poorer countries?
Cheap labour
What does neo-liberalism promote?
What is free markets / less government
What are two things that spread because of globalization?
What is ideas, culture, technology
What revolution made globalization faster with factories?
What is Industrial Revolution
What can a local conflict affect in globalization?
What is global trade / world economy
Where do companies usually keep design work?
What is in rich countries
What is isolationism?
What is focusing on your own country / less global connection
What type of trade connects countries across borders?
What is global (international) trade
What major events slowed globalization between 1914–1945?
What is World War 1, Great Depression, World War 2
What types of goods are affected by the Strait of Hormuz disruption?
What is oil, LNG, fertilizer
Name one company that moved production to another country
What is Nike or Apple
What is one criticism of globalization?
What is inequality or poor working conditions
What flows between countries in globalization besides goods?
What is investment / money
Name one organization created after WWII to support global cooperation.
What is IMF, World Bank, or GATT
What does the Strait of Hormuz crisis show about globalization?
What is that global systems are connected and fragile
What is one ethical downside of outsourcing to poorer countries?
What is worker exploitation
Who said “We are for local, against global”?
Who is Marine Le Pen