Comm 211 Notes :
1.1 Globalization Defined
What is Globalization? 3 mains impact
1. World economies are increasingly interconnected
2. Barriers like distance, language, and regulations are lowering
3. Advances in transportation and technology have reduced perceived distance
Common Forms of Globalization:
1. International Trade:
2. Foreign Direct Investment (FDI):
2 Types of Globalization:
1. Globalization of Market
2. Globalization of Production
1.2: Global Institutions
Institutions Created to Manage Globalization:
1. General Agreement on Tariffs and Trade (GATT): committed signatories has to lower
barriers to achieve free flow of goods, replaced by the WTO
2. World Trade Organization (WTO): Promotes lower barriers for trade and foreign
investment. Policing World Trade
3. International Monetary Fund (IMF): Lender of last resort for countries with financial
troubles. Provide loans with conditions
4. World Bank: Promoting economic development in poorer countries, low interest loans
5. United Nations (UN): Maintaining international peace and security, develop friendly
relationship
,1.3: Drivers of Globalization
Two Factors that promoted greater Globalization:
1. Declining Trade and Investment Barriers: Countries committed to removing barriers
following WW2.
2. Technological Change:
,1.4: Changes in the Global Economy
Multinational Enterprise (MNE): Any business that has a production activity in two or more
countries.
1.5: Globalization Debate
, 2.1 Political Systems
Graphic below might be in multiple choice questions
1.1 Globalization Defined
What is Globalization? 3 mains impact
1. World economies are increasingly interconnected
2. Barriers like distance, language, and regulations are lowering
3. Advances in transportation and technology have reduced perceived distance
Common Forms of Globalization:
1. International Trade:
2. Foreign Direct Investment (FDI):
2 Types of Globalization:
1. Globalization of Market
2. Globalization of Production
1.2: Global Institutions
Institutions Created to Manage Globalization:
1. General Agreement on Tariffs and Trade (GATT): committed signatories has to lower
barriers to achieve free flow of goods, replaced by the WTO
2. World Trade Organization (WTO): Promotes lower barriers for trade and foreign
investment. Policing World Trade
3. International Monetary Fund (IMF): Lender of last resort for countries with financial
troubles. Provide loans with conditions
4. World Bank: Promoting economic development in poorer countries, low interest loans
5. United Nations (UN): Maintaining international peace and security, develop friendly
relationship
,1.3: Drivers of Globalization
Two Factors that promoted greater Globalization:
1. Declining Trade and Investment Barriers: Countries committed to removing barriers
following WW2.
2. Technological Change:
,1.4: Changes in the Global Economy
Multinational Enterprise (MNE): Any business that has a production activity in two or more
countries.
1.5: Globalization Debate
, 2.1 Political Systems
Graphic below might be in multiple choice questions
