Global Economy

What comes to your mind when you hear the word ‘globalization’? social issues and changes around the world interconnected world through technology environment (e.g., global warming) free market / trading with other countries

Globalization 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

Global Economy The international spread of capitalism across national boundaries with minimal restrictions by governments

Concepts Comparative Advantage some countries are better equipped to make and sell particular goods or services Fair Trade an organized social movement to help producers in developing countries achieve better trading conditions Consumer Needs and Incomes a consumer’s desire for a product category’s specific benefit on a functional or emotional level during a specific time or situation; sometimes, this desire leads the consumer to spend more than he/she can afford on particular goods or services Protectionism (Tariff Barriers) placing a tax (tariff) on in-coming goods in order to protect domestic manufacturing

Cast Study: Starbucks https://www.youtube.com/watch?v=eVZ3_JC3434

Discussion Questions Do you agree with the above statement? What is the future of global market economy?