1. By the end of this lesson you will have:
3.2 Political and Economic Factors in the acceleration of Globalisation
By the end of this lesson you will have:
Seen how governments can be key players in promoting trade blocs
Learnt examples of trade blocs
Looked at special economic zones

2. Homework – Due 3rd November
Complete your green globalisation booklet including the geofacsheet at the end
Use the extra green booklets to help you complete your globalisation booklet
Read all the extra green booklets to ensure that we have finished 3.1/2/3 of the spec
Complete missing/incorrect questions on sheet

3. The Big Picture Globalisation
3.1 How globalisation is a long standing process
3.2 The political and economic factors associated with globalisation
3.3 The affect of globalisation on some places and organisations
3.4 The global shift and how this has created winners and losers
3.5 Economic migration and the impact of this on the physical environment
3.6 The emergence of global culture
3.7 The increase of development in some countries and how this has created disparities
3.8 The social, political and economic tensions which arise from globalisation
3.9 Ethical and environmental concerns about unsustainability

4. Starter – Re-Cap
Describe how the economies of different nations are linked together by:
i) The IMF
ii) The WTO
(6marks)

5. Starter – Re-Cap
Describe how the economies of different nations are linked together by:
i) The International Monetary Fund links the economies of different nations together by borrowing money from richer countries and using this to fund poorer countries, in turn asking for the poorer countries to run free market economies. The link is then expanded when TNCs (often based in richer countries) can then move more easily into the poorer countries. ii) The World Trade Organisation links global economies by advocating trade liberalisation. This links the economies because as free trade is promoted and TNCs create spatial division of labour whereby labour costs are low in poorer countries and skilled management jobs are based in higher jobs. For example, Nike headquarters are based in America but their minimum wage production is largely based in Indonesia.

6. Why countries group together
Trade blocs exist for trading purposes; bring economic strength and security to nations.
Free trade is encouraged by the removal of internal tariffs and can also protect members by establishing a common external tariff for foreign imports. This ensures that it is more expensive to import goods and therefore customers will prefer to purchase trade bloc goods instead.
The EU has also integrated a common currency, the euro with some shared political legislation e.g. European Parliament established in 1979.

7. BENEFITS Removal of internal tariffs allows:
- Markets to grow – in 2004 ten new nations joined the EU and Tesco gained access to 75m extra customers
- Firms that have a comparative advantage should prosper e.g. French wine-makers have advantages due to their climate and soil
- Enlarged market increases demand raising the volume of production and lowering manufacturing costs = economies of scale means products can be sold more cheaply and sales rise even further.
- Smaller national firms within a trade bloc can merge to form TNCs therefore making their operations more cost-effective
- In the EU, members are eligible for EU Structural Funds to help develop their economies

8. Trade Blocs
TASK: Using page 170 of the textbook, complete the table on page 40 of your booklet
TASK: Use page 172 of the textbook to complete your graphic organiser on trade blocs

10. Special Economic Zones
A special economic zone (SEZ) is an area in which business and trade laws differ from the rest of the country. SEZs are located within a country's national borders, and their aims include: increased trade, increased investment, job creation and effective administration.

11. China’s SEZ

12. EU and Brexit
TED Talk
Brexit: Channel 4

13. Special Economic Zones Bretton Wood’s Players
Recap plenary- pick at least 4 words from the selection below & explain them! Blue = 1 point each Red = 2 points each Black = 3 points each
FDI
World Bank
WTO
EU Timeline
Special Economic Zones
Trickle Down
Trade Liberalisation
Shrinking World
Bretton Wood’s Players