Geoterms
The development of a global, or worldwide, society in which people, money, information, and goods flow fairly freely across national borders.
What is Globalization?
What changes occurred in the 1970s that caused sneaker companies to no longer make shoes at home?
The cost of producing the items was increasing, due to higher wages, making it less profitable to produce there.
These four countries were involved in the design process of the sneaker-making process.
United States, Germany, Italy, and Japan
What is an offshore company?
An offshore company refers to a company that operates outside of its country of formation.
Which region of the world received the most foreign investment in 1914?
Latin America?
What is a "multinational corporation"?.
Name the three parts of a sneaker.
Complex upper, Midsole, Outer Sole
Texas is a major producer of this sneaker material? Why?
Leather is commonly produced in Texas because they have many cattle ranches there.
Globalization has led to a rapid increase in...
International Trade.
In 1914, 33% of foreign investment went to Latin America. But by 2007, the majority of foreign investment (46%) went to (a) Asia, (b) United States, (c) Europe.
(c) Europe
The flow of goods and services across national borders, with little or no government control.
What is Free Trade?
Name two reasons why sneaker companies moved their production offshore to Asian countries?
Designs became more complicated, the number of styles increased therefore more labor was needed to produce the shoes, and production costs began to rise. It became too expensive to make shoes i high-wage countries.
What is 'foreign investment"?
Foreign investment is when money comes into another country from investors from another country.
A company in Puerto Rico ships fruit to the United States for sale without paying tariffs. This is an example of what?
What is Free Trade?
The cumulative worldwide foreign investment has increased since 1990 to today. True or False?
False
A condition in which countries have strong economic ties and depend on each other for resources, technology, trade, and investment.
What is Economic Interdependence?
The WTO works to reduce trade barriers between member countries.
Which country is a major producer of synthetic rubber? Why?
Taiwan. They have factories to produce the material.
How might globalization harm workers in developed countries?
Workers in developed countries may lose their jobs when factories in their country close down and move to offshore companies - this may result in unemployment.
What effect has the increase in foreign investment in China in 2007 had on its worker demand and population of cities?
With such large foreign investment, many new businesses were started in urban areas, therefore, workers were attracted from rural areas increasing the size of cities every year since.
A tax that is charged on products that cross borders.
What is a tariff?
Why is Coca Cola considered to be a multinational corporation?
How might globalization weaken national identity?
Globalization can weaken a country's national identity as it becomes flooded by foreign foods, movies, TV shows, fashion and music.
China looks to the United States for foreign investment. Consumers from the United States buy many goods made in China. This is an example of:
What is Economic Interdependence?
What is the least expensive way to transport goods over long distances?
Container ships