Lesson 2 - Different Aspects of Economic Globalization (2A)

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  • International division of labour means that companies search for the cheapest locations to manufacture their products, so they move their production processes to different parts of the developing world.
  • Lesson 2 - Different Aspects of Economic Globalization (2A)

    1. 1. Quiz 1
    2. 2. Correction <ul><li>Please write the whole sentence for 2 times at the back of the Quiz paper </li></ul><ul><li>Hand in the file on Friday </li></ul>
    3. 3. Answer <ul><li>(1) worldwide </li></ul><ul><li>(2) extent </li></ul><ul><li>(3) access </li></ul><ul><li>(4) contacts </li></ul><ul><li>(5) constraints </li></ul><ul><li>(6) borders/ boundaries </li></ul><ul><li>(7) obvious </li></ul><ul><li>(8) integration </li></ul><ul><li>(9) economics </li></ul><ul><li>(10) culture </li></ul>
    4. 4. Different aspects of economic globalization Lesson 2
    5. 5. Introduction <ul><li>Before the 20th century, most economic activities took place locally ( 本地 ) . </li></ul><ul><li>In recent decades, as transportation and communications have become more developed, capital market, labour market as well as commodity market have become globalized. </li></ul>
    6. 6. 1. Globalization of capital market ( 資本市場全球化 ) <ul><li>More and more private enterprises ( 私人企業 ) as well as governments have started to raise capital overseas. </li></ul><ul><li>Listed companies ( 上市公司 ) in the New York Stock Exchange </li></ul><ul><li>17% Non-American enterprises </li></ul><ul><li>e.g. Asia, Europe, and other regions around the world </li></ul>
    7. 7. <ul><li>Restriction ( 限制 ) on capital flows ( 資金流動 ) have become more relaxed </li></ul><ul><li> Large groups of investors ( 投資者 ) from international organizations are looking for opportunities around the world </li></ul><ul><li> Brought invaluable capital to developing counties ( 發展中國家 ) </li></ul>
    8. 8. 2. Globalization of labour market ( 勞動市場全球化 ) <ul><li>More and more multinational corporations ( 跨國企業 ), like Nike and Sony, have moved their production procedures ( 生產工序 ) to other production bases in overseas countries. </li></ul><ul><li>E.g Mainland of China, Thailand, Indonesia </li></ul>
    9. 9. <ul><li>Such international division of labour has increased competition among workers around the world. </li></ul><ul><li>Because of relatively low wages </li></ul><ul><li> workers in less developed areas have better job opportunities. </li></ul>
    10. 10. 3. Globalization of commodity market ( 日用品市場全球化 ) <ul><li>A lot of enterprises are now selling their products to overseas markets instead of just focusing on the local market. </li></ul><ul><li> Enable consumers to purchase products from places around the world </li></ul>
    11. 11. Vocabulary <ul><li>capital market ( 資本市場 ) </li></ul><ul><li>labour market ( 勞動市場 ) </li></ul><ul><li>commodity market ( 日用品市場 ) </li></ul><ul><li>listed company ( 上市公司 ) </li></ul><ul><li>developing countries ( 發展中國家 ) </li></ul><ul><li>capital flow ( 資金流動 ) </li></ul><ul><li>private enterprise ( 私人企業 ) </li></ul><ul><li>multinational corporation ( 跨國企業 ) </li></ul><ul><li>international division of labour ( 國際勞動力的分工 ) </li></ul>
    12. 12. Next Lesson <ul><li>Please take a look at Task 2 “Allegation against Nike” p.33-34 </li></ul><ul><li>Remember to hand in the file to me on Friday (18/3) </li></ul>

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