Responses+to+Readings

Responses to Readings!!
 * __Readings from “The Debate about Globalisation”__ **

1. Explain the functions of the WTO. A powerful international body whose decisions affect every country. The WTO helps reduces tariffs, taxes, restrictions. Improve trade, makes regulations for importing and exporting. There are 149 countries involved in the WTO, and it is run by Economic Ministers, Senators, Business leaders. 2. Read Marshall McLuhan’s definition of “global village” and explain it in your own words (p.2). A village that connects everyone through advanced technology 3. Explain why you think a “global village” exists I think a “global village” exists because of the advancement in communications media, or technology. Because of the update in technology such as Internet, cell phones, radio, etc. life has been made much easier for us. For example, I live in Saudi but I can connect, or chat with my best friends in America whenever I feel like it. 4. Describe the changes that have taken place as a result of globalization Many areas in our lives have been affected by globalization, but the most noticeable one would be world trade. As stated in the article goods that used to be sold in a single country are now being processed all over the world and sold all over the world. Increased wealth in some places, and increased poverty in others. 5. Define the term “globalization” A process in which world is bound together technologically, economically, socially, culturally, and politically. 6. List 4 effects of globalization Globalization has created enormous wealth, but has also handed over the world to big businesses and corporations. It has been accused of damaging the environment, destroying tradition, and feeding us mindless entertainment. ( industrial revolution, protectionism, free trade...changing economic policies) 7. Explain how globalization is not a new idea (p.3) Globalization was not recently introduced to our society. Ever since people started traveling, and migrating, ideas have been spread with them through communities. It started as early as the first centaury C.E. when Roman women started wearing silk made in china. 8. Describe how global trade operated in the past It started when the Europeans found a sea route connecting them to the Americans. This sea route also connected them with Asia, Africa, and the Far East. Well traveling they could trade slaves and spices for many things in return. 9. Which country spearheaded the first Industrial Revolution? Britain 10. Define the term “Industrial Revolution.” When steam power harnessed factories, mass production, railroads, and technology. 11. How different was the role of government in “Pre Industrial Age” to the “Industrial Revolution” age? During “Pre-industrial Age” the government was more strict and powerful, as for the “Industrial Revolution” during this time period the government began to ease up and industries, factories, shops, were allowed more freedom to make their own decisions and compete with one another. (self interest vs. altruism) 12. Upon what beliefs is the economic system of capitalism founded on(p.3)? Capitalism is based on the system of beliefs where businesses and individuals feel they will make more money if they satisfy self-interest, instead of general public interest. 13. What did governments create in response to the poor working conditions in factories? Factory Acts. 14. Explain how Free Trade and Protectionism work. Create a diagram to portray how they work. Protectionism is when a country puts a tax on imports to eliminate foreign businesses. Free trade is trading without interference from the governement. 15. After WWII, what role did the state play in ensuring the well being of its citizens (p.4)? The state came to the citizens’ rescue, because after WWII each states started providing welfare payments for the unemployed, sick and old, and started running very important industries such as railroads and water supply. 16. What trend started in the 1980’s? Describe how it worked (p.4) “Roll back the state” was the campaign that started in the 1980’s, this campaign allowed young entrepreneurs to buy all of industries and factories from the state. Income tax was also lowered and state spending was cut.
 * From the Section: Trade, Wealth and Poverty (p5-7)**

1. Describe the role of the WTO, the IMF, and the World Bank. WTO: works to remove tariffs and barriers on importing or exporting goods from country to country. IMF: to maintain stable rates of exchange between currencies. World Bank: lends money to countries that have run into financial difficulties. 2. Explain what is expected when the `WTO asks a country to “restructure” its economy (p6). By restructure the WTO means that the country must change its ways in order to get the economy flowing again. Firstly this country must cut its taxes. So the states income goes down but the govt. needs to save money as well. Now they must privatize all the state owned industries and spend less money. And when that happens the social services are often affected by the spending cuts, like education, healthcare, welfare payments for the sick and unemployed.. 3. What are MEDCs and LEDCs? Name three of each (p.7)? MEDCs are the worlds more economically developed countries, and LEDCs are the worlds less economically developed countries. Some example of MEDCs would be Russia, UK, and USA. Some examples of LEDCs would be Sao Paulo, Democratic and Republic of Congo, Kenya.

Seven Questions I Want to Ask!! 1.) List 2 countries that's economic structure was altered, and who altered it? (Remembering)

Ghana and Bolivia. WTO.

2.) In your own words, explain what the nation state is.(understanding) A nation state is a sovereign state who's citizens have have their own common language and decent.

3.) Identify and describe a few Regional Blocs.(applying) Some regional Blocs would be, North American Free Trade agreement( NAFTA) is an agreement between the USA, Canada, and Mexico that remove the barriers to trade between those countries for a ten year period. Another regional bloc is the Association of Southeast Asian Nations, which is an agreement about economic cooperation between the following countries, Malaysia, Philippines, Singapore, Indonesia, Thailand, Brunei, Vietnam, Laos, Myanmar, Cambodia.

4.) Distinguish what 'Duty Care' means within Globalization? (analyzing)

Taxes, and Tariffs

5.) Why are countries trying to keep immigrants out of their country with police boarders? (Evaluating) Country's dictators believe that globalization is causing them to lose control of their country's economies. Capital, goods, services, and technologies are flowing out of control, which is causing businesses to relocate and move to different countries. In order to prevent this the dictators have put up police borders to stop people from coming to the country to globalize.

6.) Explain what the UN is. (understanding)

The United Nations is an international organization of countries that work to improve international cooperation, peace, and agreement.

7.) Why are people leaving big businesses to pair up with their neighbors?( understanding) During these financially pressing times some large business owners are forced to sell and leave their businesses because they cannot afford the up keep, or they are not making enough profit, another reason may be that they want to compete with large businesses and in order to do that they need to be as strong a business as possible. pairing up with their neighbor is the only option.