Term
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Definition
A complex series of economic, social, technological, and political changes seen as increasing interdependence and interaction between people and companies in disparate locations.
The growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, free international capital flows, and more rapid and widespread diffusion of technology. - IMF |
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Term
| economic causes of globilation |
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Definition
Search for labor and markets
Economic liberalization (IMF and World Bank)
Capitalist system seeks to maximize profits
Minimize costs (cheaper labor, weaker environmental legislation)
Maximize revenues (larger consumer base)
Advances in transport, processing and communications technologies
Just in time processing
Container ships
Internet
Call centers |
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Term
| socio cultural causes of globalization |
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Definition
Western cultural hegemony
English language
Music
Movies
Fashion
Food
Consumption-based society
Facilitated by the internet/mass media (MTV) |
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Term
| implications of economic globilizations |
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Definition
Domestic
Loss of jobs abroad
Manufacturing
High tech
Cheaper products (Walmart)
Declining real wages
International
Impacts of trade liberalization
Higher wages
Environmental Costs
Brain drain
Vulnerability |
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Term
| cultural implications of globiliaztions |
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Definition
Generic landscape
Loss of cultural heritage
Consumption/consumerism
Devaluation of the traditional
Kottak study
What U.S cultural influences are seen in S. America (good? bad?)
What S. American cultural influences are seen here (good? bad?) |
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Term
| Globalization of the Environment |
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Definition
Climate Change
Oceans
Biodiversity
Global health issues |
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Term
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Definition
Thomas Friedman
Uploading: wikipedia, youtube
Outsourcing: service centers, x-rays
Supply chain management: Wal-Mart
Insourcing: UPS |
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Term
| 3 General types of Economic Integration |
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Definition
Common market
Customs union
Free trade area
(Increasing commitment
) |
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Term
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Definition
Two or more countries agree to remove tariffs and other barriers to trade
Ex: US-Colombia FTA |
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Term
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Definition
Remove restrictions on trade between members
Establish common tariffs on all goods entering
Ex: Mercosur, Andean Community |
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Term
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Definition
Free movement of goods, labor and capital between members
European Union, Union of SA Nations |
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Term
| US-Colombia Free Trade Agreement |
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Definition
Signed in 2006
Passed US Congress Oct 12, 2011
39% Colombia’s exports go to US
29% Colombia’s imports from US
Since 2006 $3.4 billion in tariffs on US goods exported to Colombia |
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Term
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Definition
Customs Union between Bolivia, Colombia, Ecuador and Peru
Formed out of the Andean Pact initiated in 1969
Formerly included Venezuela and Chile
Argentina, Brazil, Uruguay and Paraguay are associate members |
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Term
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Definition
Customs Union between Argentina, Brazil, Paraguay and Uruguay
Established 1991-evolved out of a trade agreement between Brazil and Argentina
Bolivia, Colombia, Ecuador, Peru, and Chile later join as associate members
Venezuela likely to join soon
Brazil allowing temporary residency status (2 years) and then citizenship to others |
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Term
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Definition
Efforts to join Andean community and Mercosur began in 1999
Idea to create an economic union similar to the EU
Bank of SA formed in 2007 to eliminate dependence on World Bank/IMF
March 2011 becomes a legal entity
End tariffs on most products by 2014, all products by 2019 |
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Term
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Definition
Free Trade Area of the Americas
Intended to extend NAFTA benefits to all nations of W. Hemisphere except Cuba
Seen as a way to remain competitive with EU and other trade blocs
Opposed by ALBA |
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Term
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Definition
Bolivarian Alliance for the Peoples of Our America
Initiated by Venezuela and Cuba 2004
Promote social, political and economic cooperation
Oppose FTAA/US economic hegemony in the region
Bolivia, Nicaragua, Honduras, Ecuador, Dominica, St. Vincent and the Grenadines, Antigua and Barbuda all joined at later dates |
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Term
| Is Globalization good or bad? For Whom? Would an American Common Market be a good thing? For whom |
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Definition
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