Globalization Intro & History
Businesses, cultures, and societies get more connected through trade, communcation, migration and technology,
Globalization
The breaking up of this former superpower in 1991 expands capitalism and global markets into Eastern Europe and Central Asia
USSR - Union of Soviet Socialist Republics
Companies that operate in several countries .
Multinational Corporations
2020-2022 Economic disruption caused by what?
Covid-19 Pandemic
Global literacy has increased from 52% to what percentage between the years of 1950 and 1999
80%
The practice of shielding a sector of a countries economy from foreign competition.
Protectionism
1995 - Group created which helps regulate and facilitate global trade.
WTO - World Trade Organization
Globalization can spread culture internationally, but it can also destroy local cultures and traditions at the same time. What is this called?
Cultural Homogenization
2016 event in the United Kingdom reflecting discontent with economic globalization and immigration.
Brexit
Life expectancy has increased by how much since WWII?
Double
Ancient trade route connecting civilization from Rome to China
Silk Road
Neoliberal policies become popular during THIS decade, championed by U.S. President Ronald Reagan and U.K. Prime Minister Margaret Thatcher.
1980's
Globalization has created a situation where the wealthiest people continue to get very wealthy, while some folks are left behind making less. What is this phenomenon called?
Income Inequality.
2007-2009 US Housing and Banking sectors experience bankruptcy as a result of deregulation and mismanagement, affecting countries economies around the world. This event sparked widespread criticism of capitalism and corporate greed.
Global Financial Crisis (Great Recession)
Since 1985, the number of people living on less than $1.00 a day has been reduced by how much?
Half or 50%
Historical period between 1500 & 1900. Connecting and conquering distant lands, extracting resources for a centralized government at home.
Colonial Period/Colonialism.
1973 Event which exposed how connected global economies were, and maybe this was not a good thing...
1973 Oil Crisis or Oil Embargo by OPEC (Organization of Arab Petroleum Exporting Countries)
Industrial activities like mining, deforestation, oil extraction, manufacturing etc. all contribute heavily to greenhouse gas emissions, leading to a global environmental crisis called what?
Climate Change.
The United States use of these trade policies is disrupting global trade in 2025
Tariffs.
What percentage of the worlds population lives on less than 2200 calories a day, compared to 56% in 1960?
Less that 10%
Signed in 1947, what does GATT stand for?
General Agreement on Tariffs and Trade
1990s-2000s - Digital technology revolutionizes communication, commerce and connectivity.
"Internet Boom"
These countries are in the process of industrializing, and may have unstable economies or political instability. While these countries are industrialized, with stable, growing and large economies with a high standard of living.
Developing vs. Developed Country
A principle linking economic inequality to climate change and its affects.
Climate Justice
In the past 25 years, extreme poverty has been reduced by how many people?
One billion.