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Todays World
Section 1
Todays World
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Section 1
Todays World
Section 1
Reading Focus
How does economic interdependence affect countries around the world? What are some patterns and effects of global trade? How does globalization lead to cultural exchange?
Todays World
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Economic Interdependence
At the beginning of the twenty-first century, the world was divided over a number of political, cultural, and economic issues. Globalization
Despite divisions, countries tied together like never before Globalization is force behind closer relationships Process in which trade, culture link countries Improvements in transportation, communication make global trade easier
Interdependence
Major effect of global trade, increased economic interdependence Relationship among countries in which they depend on each other for resources, goods, services Occurs because countries vary in goods, services they provide, need
Todays World
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Developed
Industrialized nations have strong economies, high standards of living 20 percent of worlds nations wealthy, powerful like Japan, United States Have access to good health care, education, technology
Developing
Less productive economies, lower standard of living; Guatemala, Philippines People in these countries lack adequate education, health care Poorest, least-developed countries located mostly in Africa, southern Asia
Todays World
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Certain events, actions can affect economies of many nations Global interdependence particularly evident in times of uncertainty
Early 2000s, price of crude oil rose dramatically Factors: rising world demand, concern over available supply
Oil Prices
All countries depend on oil for energy; rise in prices felt around world Developed countries like United States faced with higher costs Poor nations in Africa could not afford to import, faced shortages Rise in oil prices led to increased demand for alternative energy sources, attempts to reduce consumption
Todays World
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Todays World
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Global Trade
Globalization often leads to or promotes free trade, the exchange of goods among nations without trade barriers such as tariffs. This can lead to consumers purchasing higher-quality goods at lower prices. International Trade Organizations Many of these groups work to promote, regulate free trade 1948, General Agreement on Tariffs and Trade (GATT) Worked to limit trade barriers, settle disputes GATT, WTO, OPEC 1995, GATT replaced by World Trade Organization (WTO) Monitors national trade policies Organization of Petroleum Exporting Countries (OPEC) works to control oil production, price Regional Trade Regional trade blocs promote free trade, deal with economic issues of neighboring nations European Union (EU), North American Free Trade Agreement (NAFTA), others
Todays World
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Todays World
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Todays World
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Find the Main Idea How does global trade affect the world?
Answer(s): can provide opportunities for developing countries; opponents believe global trade exploits developing nations, supporters believe it provides for the production and sale of high-quality, low cost goods
Todays World
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Cultural Exchange
Culture
Globalization; countries linked through trade and culture Modern transportation, communication allow faster exchanges of ideas, customs
Popular Culture
Globalization leads to changes in popular culture Culture traits: food, sports, music common within group of people
Spread of Traits
Globalization leads to cultural diffusion, spread of culture traits from one region to another Work, travel, permanent moves all play part
Mass Media
Television, movies, music most powerful methods of cultural diffusion Satellite news and Internet also ways of exchanging images, ideas
Todays World
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Media
Opponents say market shaped by media and advertising, not actual needs Worry that globalization creating common world culture, allowing traditional cultures to lose uniqueness
World Community
Globalization linking people together through economics, culture Challenge to preserve valuable traditional cultures while providing enrichment from other places in world
Todays World
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