Chapter 29 section 3 A New Global Economy By: Mr. Thomas Parsons

I.Computers and the Internet A.In the latter part of the 1900s computer technology and the Internet helped to create a global economy. B.The sale of American-made goods abroad had been essential to American prosperity. C.By the 1970s there was a serious increase in trade deficits. D.Americans purchase more foreign goods than they did American products and agriculture was sold abroad.

II.NAFTA A.In 1994 the North American Free Trade Agreement (NAFTA) was created to increase international trade. B.Canada, the United States, and Mexico joined in a free- trade zone. C.American manufacturers increase trade with Canada and Mexico.

III.EU A.In 1993 the European Unions (EU) was created to promote economic and political cooperation among European nations. B.The EU formed a common bank and the euro, a common currency for member nations. C.The organization lifted barriers to trade between European nations and set the policies on imports from nations outside the community.

IV.APEC A.The Asia Pacific Economic Cooperation (APEC) was an attempt to create a Pacific trade community to rival the European Union. B.Due to differences between the countries involved they were unable to keep members working together.

V.WTO A.The World Trade Organization (WTO) administered international trade agreements and helped settle trade disputes. B.American supports of WTO felt it would benefit consumers. C.The opposition felt it left no veto power to the United States and poorer nations could outvote it.

VI.China A.China became important in world trade. B.Although many American were uneasy about China. C.Clinton would negotiate a new trade agreement. D.The bill passed in October 2000 despite opposition.

VII.Issues of Global Concern A.During the 1980s nations began to be concerned about the environment. B.To help stop nuclear proliferation or the spread of nuclear weapons to new nations. C.Congress passed legislation that cut off foreign aid and imposed sanctions on nations looking to acquire nuclear weapons.

VIII. Environmentalist Movement A.Many environmental activists began to push for a ban on chlorofluorocarbons (CFC’s). B.These chemicals had the potential to deplete the Earth’s ozone. C.Ozone protects life on Earth from the cancer-causing ultraviolet rays from the Sun.

IX.Global Warming A.In the early 1990s some scientists found evidence of Global Warming. B.This is an increase in the average world temperatures over time. C.Concern about Global Warming led to an international meeting at Kyoto, Japan in D.Thirty-nine nations signed the Kyoto Protocol promising to reduce emissions. E.Few countries put the protocols into effect. F.The United States withdrew from the treaty in 2001.