1. Chapter 16, Globalization The Development of Global Trade The Emergence of the Global Economy Globalization: The Continuing Process Population Growth and Inequalities in the Global Economy Consequences of Globalization and the Global Economy

2. Development of Global Trade Before 1500, world regions were virtually isolated from each other. The Old World (Africa, Europe and Asia) formed a unit within which trade allowed spread of technology and institutions.

3. European Expansion Began with the discovery of the Americas by Columbus in 1492. The Spanish, Portuguese, English, French and Dutch invaded the Americas. The European global maritime trade network allowed the exchange of technology, food, animals, diseases and people.

4. Industrial Revolution Starting in about 1800, European contact with non-Western people changed to political domination. 19th century was a time of European imperial expansion as the countries of Europe began claiming lands and people of Africa, Asia and Oceania.

5. Emergence of the Global Economy Three factors Collapse of the existing colonial empires. Developments of technology have made geography irrelevant. International finance and the globalization of world capital.

6. Consequences of Globalization Increasing contact among peoples and increasing exposure of non-Western peoples to Western cultural traditions. Growing resentment of Western economic dominance and cultural influences.