The document discusses the interplay between globalization and economic sociology, detailing how global trade, finance, and markets affect economic structures and social dynamics. It emphasizes the role of transnational corporations (TNCs) like Apple, Nestlé, and Toyota in shaping global trade practices and their impacts on labor rights, local economies, and natural resources. The analysis highlights the differing benefits and consequences experienced by countries based on their integration into the global economy.

1. Globalization and Economic
Sociology

2. • Globalization and economic
sociology are intertwined in
understanding how global trade,
finance, and markets influence
economic structures and social
dynamics.

4. Global Trade:
• Global trade involves the exchange of goods
and services across borders. Economic
sociology examines how trade influences
societies, social norms, and labor practices
worldwide. Countries benefit differently based
on their economic structures, with some
specializing in raw materials and others in
technology or manufacturing.

6. Finance:
• Global finance includes international banking,
capital flows, and investments that transcend
national boundaries. Key institutions, like the
International Monetary Fund (IMF) and World
Bank, play a role in regulating and facilitating
these financial flows. Economic sociology
explores how these institutions influence local
economies, often promoting deregulation or
austerity, which can lead to economic inequality.

8. Markets:
• Global markets are shaped by international
demand and supply, leading to price-setting
that affects both producers and consumers
globally. Economic sociology looks at how
these market forces are embedded in social
and political networks and how local
economies adapt to or resist global market
pressures.

9. Transnational corporations (TNCs)
• are companies that operate in multiple
countries. They contribute to globalization by
integrating production, labor, and distribution
across borders, often seeking locations with
favorable labor costs, regulations, and tax
policies.

11. Apple Inc.:
• Apple is a prime example of a TNC with a
global production and distribution network.
Although headquartered in the U.S., much of
its production is outsourced, especially to
countries in Asia (e.g., Foxconn in China).
Apple’s supply chain highlights issues of labor
rights and regulatory differences across
countries.

13. Nestlé:
• Nestlé operates in nearly every country and
sources raw materials globally. Its operations
have been scrutinized for impacts on water
resources, labor practices, and environmental
standards. Nestlé illustrates how TNCs can
impact both natural resources and social
conditions in their host countries.

15. Toyota:
• As a Japanese automaker, Toyota
manufactures and assembles cars in several
countries, benefiting from local markets and
minimizing import costs. Toyota’s global
strategy exemplifies how TNCs contribute to
local economies by creating jobs, but also
sometimes outcompete smaller, local firms.