Global Trade Global Geography 12 Global Connections Chapter 12.

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Presentation transcript:

Global Trade Global Geography 12 Global Connections Chapter 12

Why Trade?  Geography, climate, landforms makes us unable to be self-sufficient.

Factors Affecting Trade  Specialization  Complementary  Politics  Distance

Benefit of global trade  EFFICIENCY  Good efficiency leads to competitive prices and makes you a desirable trading partner!

Trade Blocs  Countries geographically located together trade with each other. i.e. European Union Why?  Easier trade, open borders, common currency Why Not?  “All eggs in one basket”

Costs of Global Trade  Soil erosion and dependency on chemical fertilizers.  Industrial accidents including oil spills and train derailments.  Increased CO 2 emissions, loss of farmland and risk of radioactive accidents.  Lack of sustainable development.  Global warming, ozone depletion and air pollution.

What are they trading? Canada’s Trading Partners

North American Free Trade Agreement (Canada, US and Mexico)  Terms  Quotas  Direct Investment  Intellectual Property  Pros and Cons

Globalized Trade  World Trade Organization  Formerly known as GATT  Group of Eight (G8)  Canada, US, Germany, Japan, Great Britain, France, Italy, Russia (and European Union)  Multinational Corporations  Large, wealthy companies operating in more than one country

Multinational Corporations Benefits  Direct employment  Multiplier effect  Increased export levels Costs  Environmental pollution  Slave Labour  Poor working conditions  Majority of profits leave country.

Ignorance is bliss?? The product search we did in class on day one or two showed how dependent yet unaware we are of global trade. We did not know where the products came from so we were unaware of how it is made and the costs to the workers and environment. You are now aware. What can you do???