There are differing perspectives on economic globalization due to complex factors like: - Countries experience globalization differently based on their level of development. More developed nations tend to benefit more from increased trade and investment opportunities. Less developed nations can struggle with unfair competition and pressure to lower labor/environmental standards. - Globalization impacts different groups within countries in varying ways. While some sectors and skilled workers may see new opportunities, others like low-skilled manufacturing workers can face job losses and wage stagnation as production shifts overseas. - There are debates around how much sovereignty nations should maintain over their economies versus integrating more via trade blocs and agreements. More national control allows focusing on domestic priorities, while greater economic integration can boost overall prosperity

1. Name:
Social 10-2 Review
Issue 2
(Blood Diamond, Chapter 11 and 12)
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Key Issue: To what extent does globalization contribute to sustainable
prosperity for all people?
Guiding Question: Why are there different understandings of economic
Globalization?
Guiding Question: To what extent have developments since WWII influenced
the expansion of economic globalization?
A. Fill in the Blanks with the appropriate words or phrases from the list below:
1. This process was introduced by the UN in the mid 90’s. The purpose of it is to
ensure all diamonds sold are not conflict diamonds,
_________________________.
2. The amount of product produced in a nation per year is known as the
__________________________.
3. This organization is made up of the countries with the eight largest economies
in the world.
__________________________.
4. This trade union includes Mexico, the US and Canada.
__________________________.
5. This shipping method has become very popular since it allows corporations or
companies the ability to ship large quantities of goods at one time.
__________________________.
6. This trade organization includes most continental European countries.
__________________________.
7. This idea allows for limited trade restrictions or tariffs between countries.
_________________________.

2. 8. Large companies that set up businesses in more than one country are know
as _______________________.
9. Many Central American countries (Haiti), are extremely poor because of this
trade agreement ____________________.
10. Many _________________________ protestors believe that people of
smaller poorer countries in the world are being “used” to make larger companies
and countries rich.
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GDP EU Kimberley Process
G-8 ` NAFTA TNC (use twice)
FTAA Containerization Anti-globalization
B. Short Answers
1. Create a T chart that depicts how Trans National corporations have harmed
and helped the economies of poorer nations.
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2. Specifically, why has Economic Globalization increased in the world since the
1970’s? Who specifically is impacted by this increase in economic globalization?
Why?
/3

3. 3. In a T chart list 3 pro’s and 3 cons for the following statement.
“It is important for poorer countries to pay back their debts to rich larger nations”
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4. List two ways Free Trade organizations like NAFTA have harmed national
economies. List two ways Free Trade organizations have aided national
economies?
/4
5. Who (types of countries) seem to benefit most from Free Trade unions? Why?
/2
6. In your opinion, why do 3rd World or Developing Nations tend to struggle with
environmental issues (think “China”)
/1
7. List 2 arguments that denounce large corporations setting up Sweatshops in
3rd World or Developing Nations. Create 2 arguments that support the idea of
using Sweatshop labour in 3rd World or Developing Nations?
/4
8. List 2 reasons why subsidies in Agriculture or Oil and Gas may benefit all
Canadians. List 2 reasons why these subsidies are unfair for all Canadians.
/4
9. In your opinion, why are there different understandings of economic
Globalization?