UB GEO 103LEC - OLec2 Globalization (29 pages)

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OLec2 Globalization



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OLec2 Globalization

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Pages:
29
School:
University at Buffalo-SUNY
Course:
Geo 103lec - Global Econ Geographies
Global Econ Geographies Documents

Unformatted text preview:

GEO 103 Class 2 Globalization 1 Globalization 2 Globalization the key agent of change the dynamic force driving the process of global integration T Friedman The World is Flat Communication transportation information changing the integration of the human race Is the world losing its cultural differences Definition of Market buyers and sellers determined by price price is determined by supply and demand The goal of market is profit the difference between revenues and costs Importance of market leads to specialization of economic activity 3 Specialization of Economic Activity 4 Engineering Raw material Extraction Production Storage Office functions Marketing Management Finance Globalization video 5 Complex definition set of world processes that make the world economy and various societies of this economy more integrated and interdependent shrinks space by increasing access and reducing transport times distance It was born when the Wall fell in 1989 It s no surprise that the world s youngest economy the global economy is still finding its bearings Many world markets are only recently freed governed for the first time by the emotions of the people rather than the fists of the state The spread of free markets and democracy around the world is permitting more people everywhere to turn their aspirations into achievements And technology properly harnessed and liberally distributed has the power to erase not just geographical borders but also human ones the world holds great promise In the meantime no one ever said growing up was easy Wall Street Journal 10 11 98 Drivers of globalization 6 Search for markets www richs com Improved technologies transportation commu nication Decreased economic barriers increased trade investment Multinational corporations expansion Globalization continued Globalization of culture Culture body of beliefs customs traditions social forms material traits constituting a distinct social tradition of a group of people Globalization leading to



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