1. Globalization Cross-national interaction between individuals, corporations, and governments (actors of globalization) integration of global markets for: –commodities –labor –services –capital, etc.

2. Globalization in history Trade along the Silk Road between Europe and East Asia for nearly two thousand years

3. World Merchandise Trade % GDP

4. Trade Dependence (2009-2012)

5. Foreign Direct Investment

6. Globalization and the US: trade

8. Globalization and the US: FDI US-owned assets abroad –0.5 trillion dollars in 1976 –6.2 trillion dollars in 2000 –21.6 trillion dollars in 2012 Foreign-owned assets in the US –0.3 trillion dollars in 1976 –7.6 trillion dollars in 2000 –25.5 trillion dollars in 2012

9. Debates on globalization Normative theory –What ought to be –e.g.: “Globalization is ultimately good for poor developing countries.” Positive theory –What is –e.g.: “Globalization increases economic inequality between rich and poor countries.”

10. Debates on globalization The impact of globalization on –income inequality –unemployment –education –health care –women and children –the environment –homeland security, etc.