1. More on Corporate Globalization CGW4U

2. Trade Liberalization  Key features Reduced trade barriers Less government regulation Privatization  Pros and Cons?

3. Globalization  Spread of culture, ideas, and businesses around the world  Pros and Cons?

4. Who controls globalization?  Bretton Woods institutions controlled by largest economies Ex: WTO dominated by USA, EU and Japan (about 53% of world economy)  MNCs exercise control over WTO Policies written by corporate lawyers  Ex: WTO Agreement On Agriculture written by Monsanto, Cargill, DuPont, ADM

5. Who controls globalization?  90% of MNC parent companies are based in the Northern Hemisphere

6. Who controls globalization?  88% of the earth’s population is in the Northern Hemisphere

7. Who controls globalization?  93 of top 100 corporations based in USA, Japan, and Western Europe About 12% of global population

8. Globalization  Global Corporations can have tremendous economic power World’s Top Economies (year 2000): http://www.corporations.org/system/top100.ht ml http://www.corporations.org/system/top100.ht ml Of the world's largest 150 economic entities, 95 are corporations (63.3%) Wal-Mart, BP, Exxon Mobil, and Royal Dutch/Shell Group all rank in the 25 largest entities in the world, above countries that include Indonesia, Saudi Arabia, Norway, Denmark, Poland, South Africa, and Greece.

9. Globalization  Some can have political power too Membership in international bodies Campaign donations Crony Capitalism  Ex: US Vice President Dick Cheney Former CEO of Halliburton Energy Halliburton was granted a $7 billion no-bid contract in the rebuilding Iraq Support of dictatorships  Royal Dutch Shell providing military support to Nigeria

10. Globalization  How can we ensure that globalization is a positive thing and is beneficial to everyone?  Write a list of guiding principles for the Bretton Woods Institutions