ELL3044 Practical Business English 실용 비즈니스 영어 Globalization

Warmup Questions 1. What does globalization mean? 2. What global companies can you think of? Do global companies do more harm than good? Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.

Vocabulary 1. to outsource b. a large, family-run corporation 2. shipping 3. to exploit 4. welfare benefits 5. a remittance 6. developing world 7. 재벌 8. a tariff a. the countries with the least developed economies b. a large, family-run corporation c. to use someone/thing to your advantage d. moving products from one place to another e. to obtain materials from outside sources, usually foreign sources f. benefits given to workers such as health care and unemployment insurance g. a duty/tax imposed on foreign goods shipped into the country h. sending money to your home country from a foreign country where you work

Globalization Benefits Drawbacks faster and cheaper shipping more selection/larger market competition can make prices lower if you can get goods from other countries you don’t have to produce your own people no longer living in extreme poverty MNC (multi-national corporations) exploit poorer workers who have fewer welfare benefits can take advantage of less strict environmental regulations Western culture (Coca-Cola culture) can have a negative effect on smaller cultures competition with less developed economies causes developed country manufacturing to suffer fewer languages spoken around the world

Listening: benefits and drawbacks

Effects of Globalization shipping by sea (sea freight) is 65% lower than 1930 (new ships and lower transportation fees) to undeveloped countries has helped 600,000,000 people get out of extreme poverty (less than $1.25/day - UN) in the last 30 years shipping by air (air freight) is 88% lower than 1930 the freight cost of coffee shipped from Asia to Europe is only 1% of its price safer and faster to travel globally remittances help drive developing economies 21% of Canada’s population was born in a foreign country 40,000,000 commercial flights – 10 fatal accidents (2016) 100,000,000,000 business emails / day

Henry Ford’s Ford Model T - 1907

Assembly Line

Where does your money go when you buy a smartphone? Japan – 34% Germany – 17% South Korea – 13% the US – 6% China – 3.6% Other - 27%

Global Culture global culture is turning into American culture (Coca Cola culture) fewer languages than ever before

Globalization and the Environment more companies move to countries with less strict environmental regulations globalization has made the average person richer; richer people tend to use more resources (water, fossil fuels) but especially energy the planet cannot sustain 7 billion “rich” people; however the global community has moved onto more sustainable resources richer countries tend to have fewer children

Shanghai 1990 vs 2010

Detroit 1945 vs 2012

What about Korea?

Foreign spouses

Koreans abroad

Kpop

Work abroad???