This document discusses several aspects of globalization including: 1. It defines four kinds of economic integration that occur through globalization: trade of goods and services, movement of labor, flow of capital, and exchange of technology and intellectual property. 2. It lists some key indicators of an increasingly globalized world such as rising export/import trade volumes and the spread of global recessions. 3. The effects of globalization discussed include changes in prices, impacts on consumer choice, income levels and distribution, employment patterns, environmental consequences, and changes to cultural and political systems.

1. Your stories from the Economist you brought home? Collect another one.. Any article worth photocopying?

2. Globalisation Definition Four Kinds of Economic Integration. Free Trade of: Trade Goods and Services e.g. Labour e.g. Capital e.g. Technology and Intellectual Capital e.g. These categories are a good way to start thinking about the process of globalisation A historical process that is continually changing? Thoughts??

3. Spectrum of intervention: From Theoretical Free Trade Economy right down to (Theoretical) Protectionist Economy. Protection: Tariffs / Quotas / Import Taxes Why Protect? Globalisation

4. Key indicators of an increasingly globalised world: Increase in Export and Import Trade Global recessions Degrading Environment Any more – ‘signals’ that we are becoming more globalised… Globalisation

5. Causes: complex mix of factors Increase in trade Increase in Liberalisation of Trade Rules Growth of MNCs / TNCs – why are companies growing this way? Drives by countries to encourage FDI M n As Communications and IT e.g. How has technology in the Past and Present fuelled increased trade and interdependence? Globalisation

6. Effects: Prices : both rising and falling as a result. Explain? Consumer Choice or Bland homogenised ‘International’ Goods Global Income Levels and Income distribution – role of Free Market Forces and Government Policy Employment – winners and losers? Globalisation

7. Effects: The Environment – as Global Demand increases… Increased Specialisation – leads to Economic Dependency. Explain? Cultural Impact? Loss of Political Sovereignty Globalisation

8. Costs and Benefits No Clear Definitive Answer if it is a good or bad thing. textile case study Globalisation

9. Questions on page 604. In pairs work on answers to help build up a profile of ‘Globalisation’ Does economic growth lead to an increase in economic welfare Is economic growth unsustainable from an environmental standpoint Does protectionism rather than free trade promote economic growth Do multinational companies have more power over economies than most nation states and act purely to gain profit from their shareholders? To what extent are developing countries lifting themselves out of poverty? Is there any evidence to suggest that developing countries are catching up with developed countries? Is the rich developed world exploiting the poor developing world? Are organisations, like the World Trade Organisation or the IMF, which support or promote trade liberalisation, controlled by the rich countries of the world and do they act against the interests of poorer countries? Globalisation

10. Anti-Globalisation Pilger on Globalisation Read the summary on the video link – shows the argument against the so-called benefits of the neoliberal globalisation agenda

11. Tutor 2 u links balance of payments link Unemployment in UK and EU