Associated Press/Abe Fox Which of the following statements best describes the primary effect of globalization? place to another. DECLINE IN INEQUALITY GLOBALLY, BUT WIDER WITHIN UNITED STATES Certain manufacturing and industry workers in specific geographic regions lost out, such as those in furniture, apparel, steel, auto parts, and electrical equipment industries in Tennessee, Michigan, and the mid-Atlantic states. D) religious beliefs are reflected in most aspects of culture. trade or other bigger factors. Section 301: US investigates allegations of forced technology transfers to China. US Trade Agenda Requires Greater Focus on Social Concerns. All rights reserved. Korea was hit in 200809 even though the epicenter of the crisis was in the United States and Europe. Globalization has forced changes on Gogol's family that he accepts , but thathis parents resist . A) Tex-Mex cuisine. They also pay better, do more research and development, export more, and invest more than the average US firm. Better-paying positions have opened up in manufactured exportsespecially in high-tech areas, such as computers, chemicals, and transportation equipmentand other high-skill work, notably in business services, such as finance and real estate (see Jobs section). Weisman, Steven R. 2016. largely composed of bank loans) has been more volatile. US administrations have taken different approaches to deal with these concerns. 2. Explain to students that globalization, in its simplest form, means a more connected world. Cultural globalization - The persistence of local culture Following centuries of European colonization and trade activity, that first wave of globalization was propelled by steamships, railroads, the telegraph, and other breakthroughs, and also by increasing economic cooperation among countries. Since the overall payoff is so much greater than the costs to individual workers or groups who have lost out, nearly all economists support having an open global market versus closing it off (see example). The United States has done the least among advanced economies to mobilize government policies to reduce inequality. opened up to trade. 2017. They also argue that free trade has lowered prices in wealthier countries and improved the economy of poorer countries. C) Folk cultures seek to create a uniform landscape. * (2 Points) causes threats to folk culture causes environmental impacts creates uniform landscapes all of the above. People in England eat Indiancurry, while people in Peru enjoy Japanesesushi. Distribute copies of the worksheet Decision Matrix to each student. B) the spread of an underlying principle or idea. E) Tanzania. IGM Forum (March 12). Trade and Investment Policy Watch (June 14). PIIE Policy Brief 17-23. They fear that everyone will end up eating hamburgers and watching Hollywood movies. Trade agreements should account for the modern digital age. Hufbauer, Gary Clyde, and Zhiyao (Lucy) Lu. JOB CHURN These resources will help to teach middle school students more about the global economy and the central role trade plays. People may choose to immigrate for a variety of reasons, such as employment opportunities, to escape a violent conflict, environmental factors, educational purposes, or to reunite with family. Divide the class into two groups: students who focused on pros and students who focused on cons. Globalization means the integration of the economy into the world's economy. Other international issues includeterrorism,drug trafficking, andimmigration.The process of globalization is verycontroversial. US-China Trade War Tariffs: An Up-to-Date Chart. PIIE Policy Brief 16-20. Trade and Investment Policy Watch (May 8). Duringtimes of peace, it is beneficial in a global economy,to see othernationssucceed. Bradford, Scott C., Paul L. E. Grieco, and Gary Clyde Hufbauer. Aid agencies can respond more quickly to a natural disaster. B) the spread of culture traits from one group to another. C) The spread of cell phones from the upper class to the middle and lower classes. Chart data collected by Christopher G. Collins and Soyoung Han B) Acculturation. Desilver, Drew. D) the belief that one's own ethnic group is superior to others. And How Has the Global Economy Shaped the United States? PIIE Working Paper 17-10. In this way, globalization encourages countries around the world to provide typical Western services. b. A) marriage tax. Manual work is increasingly being automated, lowering demand for workers. 2011. or the WTO, mainly because technology has made it easier to produce goods. A) Traditional music. Globalization has led to increases in standards of living around the world, but not all of its effects are positive for everyone. Today, HSBC has its headquarters in London, England.Economic globalization has allowed many corporations based in the West to move factories and jobs to less economically developed countries, a process calledoutsourcing. Step 1) Answer: The statement that best describe the trends in globalization of markets is option d. Unable to increase markets domestically, most of the companies look in expanding their markets in other places of the world. Globalization is the movement and integration of goods and people among different countries. Each multiple choice question has five possible answers. After World War II in the mid-1940s, the United States led efforts to revive international trade and investment under negotiated ground rules, starting a second wave of globalization, which remains ongoing, though buffeted by periodic downturns and mounting political scrutiny. Bown, Chad P. 2021. The true statements about globalization offer an advantage to businesses are: Businesses can take advantage of favorable laws, taxes, new forms of technology, and faster technology to make products cheaply. The same is true, by comparison with local averages, of US firms that invest abroad. 1. Reuters/Daniel Acker, Russell Boyce, Marcos Brindicci, Larry Chan, Kevork Djansezian, Regis Duvignau, Gary Hershorn, Leah Millis, Charles Platiau, John Sommers II, and Piroschka van de Wouw Many multinational companies with famous brands are now controlled by global enterprises. A) The spread of English language to British colonies. Irwin, Douglas A. Washington: Peterson Institute for International Economics. Microsite. B) The spread of drive-through windows from fast food restaurants to liquor stores. The Debate Over Globalization | National Geographic Society 7. B) Anglo America. Trade and Investment Policy Watch (December 2). In this context, liberal refers to more free or open trade. Editor of. According to the Core-Domain-Sphere model 2001. Which three cities in the world often serve as hearths for popular culture? The idea was to create a better world with countries seeking to cooperate with one another to promote prosperity and peace. A trade surplus is the opposite, when earnings from exports top spending on imports. Globalization in History Globalization has a long history, for example, Ancient Greek . Ethnocentrism is National Geographic Headquarters 1145 17th Street NW Washington, DC 20036. To ensure full site functionality, please use an alternative web browser or upgrade your version of Internet Explorer. D) Stimulus diffusion. E) cultural progression. British manufacturers could then sell theirfinished goods, such as clothing and blankets, to buyers all over the worldthe United States, Brazil, Australia, even India.Globalization sped up dramatically in the twentieth century with theproliferationof air travel, the expansion offree trade, and the dawn of theInformation Age. Most of these internationaltourists are from developed countries. biological history? Trade and Investment Policy Watch (September 5). Manufacturing employment share has also declined 2018. When you reach out to them, you will need the page title, URL, and the date you accessed the resource. Deglobalization 2.0: Trade and Openness During the Great Depression and the Great Recession by Peter A. G. van Bergeijk ISBN: 9781788973458 Published/Created: 2019 The rapid integration of global governments, businesses and capital has faced a dramatic and often hostile backlash in recent years. Technology firms have taken special advantage of their innovations this way. Answer to Solved 3. Learn more about U.S. immigration with this curated resource collection. Demand will likely increase for more highly-skilled manufacturing workers, in areas such as engineering, management, finance, computer and mathematical occupations, and sales. For example, many software engineers and Internet entrepreneurs who live and work in Silicon Valley, California, maintain homes inand strong social ties toIndian states such as Maharashtra and Punjab. RealTime Economics (July 19). Contact Us. 2018. A) clothing. 2. Employment in service industries has grown from about half to 84 percent of all Introduce globalization. And people all across the world are eating more meat and sugary foods, like those sold in fast food restaurants.The worldwide expansion of McDonalds has become a symbol of globalization. As Donald Trump prepares for his tenure in the White House, he talks of dismantling a whole history of globalized trade that he sees as having had a catastrophic effect on the global economy. View the full answer. Chapter 2 [pdf] of The United States and the World Economy: Foreign Economic Policy for the NextDecade. Globalization is growing less important as time passes. Navarro Asks Congress to Give Trump Absolute Authority over the US Tariff Schedule. Step 2) Explanation: Glo . Culture is spread by Have students decide what they think about globalization. B) grooms gift. The concept of empathy is associated with many important aspects of in intercultural communication behabiour. D) Folk cultures have great reverence for their environment. C) the spread of an idea from persons of power to other persons. C) The spread of AIDS to the United States. Not surprisingly, polls vary widely depending on how and when the question is posed. Global Value Chains and Development: Investment and Value Added Trade in the Global Economy. Popular Culture is characterized by all of the following except If a media asset is downloadable, a download button appears in the corner of the media viewer. Have students use the provided websites to conduct their own research and to learn more about the issues in the debate over globalization. Efforts to confront problems such as globalclimate changemust involve many different countries. There are 8 types of Globalization: Social globalization Technological globalization Financial globalization Economic globalization Political globalization Cultural globalization Ecological globalization Sociological globalization Through these 8 aspects, we can see how our world is becoming more integrated on many different levels. Which statement BEST summarizes the point made by that example? C) London, Paris, and Los Angeles. Explain to students that globalization, in its simplest form, means a more connected world. 1948. B) New and Miami. Meanwhile, American fast food chains have become common throughout the world.McDonald'shas more than 37,000 restaurants in over 100 countries. C) Race and ethnicity are interchangeable concepts. Americans, Like Many in Other Advanced Economies, Not Convinced of Trades Benefits. Here is a quick summary. E) All of the above. Interview given at the Peterson Institute for International Economics, May 25. PIIE Policy Brief 18-5. PIIE Charts (March 16). A) the suburbs. They work together to open their borders to allow the movement of money and people needed to keep economic globalization working.Because people, money, and computerized information move so easily around the globe, countries are increasingly working together to fightcrime. You cannot download interactives. Ivory Tower Economists, Free Trade, and Workplace Woes. Globalization has lead to greater homogenization and reduced fragmentation. Tell students they can choose one aspect of globalization, such as economic costs and benefits, or they can look at the issue as a whole. It is a process by which people, nations, and companies interact actively in the international stage. 5. They can also find resources at the school library or a local library. One such cadre, according to political scientist Samuel Huntington in The Clash of Civilizations (1998), comprises an elite group of highly educated people who operate in the rarefied domains of international finance, media, and diplomacy. D) Many younger people who are childless arent concerned with the quality of public The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade [pdf]. SOLUTION:- 1:- The correct option is :B Explanation: Global. E) Greeks in the Mississippi Valley. A) the rapid and widespread diffusion of a characteristic throughout the population. D) cultural exclaves. It's Fun to Discuss the USMCAthe New NAFTA. Originally, HSBC stood for Hong Kong Shanghai Banking Corporation, which was founded in 1865 to promote trade between China and the United Kingdom. B) folk cultures are spread hierarchically. C) the spread of an idea from persons of power to other persons. The economy of the country of Saudi Arabia is almost entirely dependent onoilexports.To increase trade, many countries have created free trade agreements with other countries. The History of an Idea. E) All of the above. Prospects for Economic Reform and Medium-Term Growth in the United States. Promotes free trade. Ltd. Trade and Investment Policy Watch (November 7). Inequality is widening. They also sold their goods in other countries.Britainscolonyin India, for instance, suppliedcottonto Britishmerchants and traders.Madras, a light cotton cloth, was made in the city of Madras (now called Chennai), a majorportin India. See how trade helps both sides be more productive. B) cultural homeland. C) are available locally. The U.S. Income Distribution:Trends and Issues [pdf]. Consumers must be responsible to a triple bottom line of economic value, social progress, and environmental health. US-China phase one tracker: Chinas purchases of US goods. Globalization reduces unique features of local culture and contributes to global cultural homogenization B. E) all of the above. Trade and Investment Policy Watch (November 6). C) Cultural integration. Today,80 percent of world tradeis driven by supply chains run by multinational corporations. Privacy Notice| 1996 - 2023 National Geographic Society. C) Syncretism. B. Lets Talk Development (February 2). For instance, Chinas government unfairly demands that US intellectual property be handed over in certain cases as the price of doing business there. B) Acculturation. Which of the following areas would be considered a cultural transition zone? Washington: Peterson Institute for International Economics. 3. Solved Which statement best describes trends in | Chegg.com Note: Trade expansion refers to the effects caused by additional manufactured imports and exports. B) The spread of laptop computers from the upper class to the middle class. If a media asset is downloadable, a download button appears in the corner of the media viewer. Many countries have large international financial flows or investments, consisting of assets and liabilities. Published online at OurWorldInData.org (accessed on October 24, 2022). Blinder, Alan. Employment Projections. Hufbauer, Gary Clyde, and Euijin Jung. Bergsten, C. Fred. financial crisis and the global financial crisis of 200809, especially in other liabilities like bank loans. Bergsten, C. Fred. d. E) none of the above. Reserves are international assets held by the US Transcribed image text: . B. C) dowry. About 70 percent of the people in the world usecell phones. Which of the following concept best illustrates the degree to which pairs of individuals who interact are similar in certain attributes, such as beliefs, education, and social status? E) all of the above. A) American news organizations, such as CNN. D) urban areas in California. cultural globalization, phenomenon by which the experience of everyday life, as influenced by the diffusion of commodities and ideas, reflects a standardization of cultural expressions around the world. E) an area where two cultures merge into a single culture. 2017. A culture overcomes a threat to its own by strengthening its own cultural image. This court, which handles cases such as war crimes, has a global reach, although not all countries have accepted it.Many problems facing the world today cross national borders, so countries must work together to solve them. Petri, Peter A., Michael G. Plummer, Shujiro Urata, and Fan Zhai. D) the belief that one's own ethnic group is superior to others. Accessed on October 4, 2018. A) The Rocky Mountain Region. E) None of the above. US Tire Tariffs: Saving Few Jobs at High Cost. 2017. PIIE Briefing 18-1. The Trump administration pushed for more power to impose tariffs. C) they want to preserve their traditional cultures. By late 2019, tariffs had increased to around 20 percent and new duties covered over half of exports from each country. The process of immigrating to the United States can be complicated and is often driven by a few key principles including uniting families, boosting the economy with skilled professionals, promoting diversity, and helping refugees. A Survey of Experts. Nevertheless, a Peterson Institute study finds 156,250 US manufacturing jobs were lost on net each year between 2001 and 2016 from expanded trade in manufactured goods, which represents less than 1 percent of the workers laid off in a typical year.1 Low-wage workers in certain regions are most affected. A) areas in the sphere part of the model impacted most by a culture. The Truth about Trade Agreementsand Why We Need Them. Realtime Economic Issues Watch (January 21). 2019. Have students write about globalization. E) sub-Saharan Africa. Working Paper 17-12. A) the rapid and widespread diffusion of a characteristic throughout the population. Trade and Investment Policy Watch (March 6). Globalization has led to a decrease in xenophobia and a decrease in face-to-face interaction. Globalization is the movement and integration of goods and people among different countries. BETTER QUALITY AND VARIETY The globalization of cultural subgroups is not limited to the upper classes. A countrys trade balance, either a surplus or deficit, is not affected by tariffs or trade agreements but by larger economic factors, like government spending and monetary policy. 2016, or 185 percent of GDP.). devising communication strategies to accomplish communicative goals, constructing messages consistent with communicative strategies. Dueto globalization and other factors, it isimpossible for large industrialized nations toexit the global economy without devastating effects. Some observers argue that a rudimentary version of world culture is taking shape among certain individuals who share similar values, aspirations, or lifestyles. Annual Review of Economics 8: 205240. E) none of the above. A) Cultural assimilation. Consumers have better products and more choices as a result. . What Is Globalization and What Are Its Effects? - ThoughtCo Cultural diffusion is D) bridal tithe. Make sure students understand that there are pros and cons to globalization, all of which have economic, social, political, and cultural impacts. A farmer in Nigeria can easily talk to his cousin who moved to New York, New York. Now we look back at its history. D) the innovation of a cultural trait. Ask them to brainstorm what some pros and cons may be, and write them on the board. 2018. Videos by Daniel Housch Globalization is an elimination of barriers to trade, communication, and cultural exchange. B) Some ethnicities are comprised of people from several different races. Indian-born anthropologist Arjun Appadurai has studied English-speaking professionals who trace their origins to South Asia but who live and work elsewhere. The globalization of Christianity spread from Europe toLatin Americathrough Christian missionaries working with the local populations.Globalization wasaccelerated in the nineteenth century with theIndustrial Revolution, as mechanicalmills and factories became more common. The theory behind globalization is that worldwide openness will promote the inherent wealth of all nations. A) The spread of baseball to Japan. Other menu items are specific to that region. After World War II, the United States helped build a global economic order governed by mutually accepted rules and overseen by multilateral institutions. It gives rich countries access to lower cost resources and labor and poorer countries access to jobs and the investment funds they need for development. In nearly all societies, women The Peterson Institute for International Economics is an independent nonprofit, nonpartisan research organization dedicated to strengthening prosperity and human welfare in the global economy through expert analysis and practical policy solutions. D) television and other media. E) All of the above. People are able to move and communicate easily in order to have smooth business internationally through globalization.. A single attribute of culture is called a, The theory that the physical environment causes social and cultural development is. Which of the following cultural traits is important to Americans? government. A) Cultural assimilation. Negotiated under President Obama, the Trans-Pacific Partnership (TPP) agreement was intended to entice China to improve its practices by allowing the country in on the lucrative deal only if it agreed to new rules, but President Trump withdrew from the deal. 2018. C) a culture hearth. D) the internet. B) Many older urban neighborhoods offer a sense of place. William Henry Fox Talbot, Public Domain The definition of cultural globalization is the process through which the values, ideas, and experiences of a specific culture are transmitted and disseminated across the world. The area of origin of a culture is called PIIE Policy Brief 18-6. The correct answer is 2: The world is becoming more globalized and connected. Relocation diffusion is Statement before the US Senate Committee on Finance hearing "Current and Proposed Tariff Actions Administered by the Department of Commerce," June 20, 2018. Posen, Adam S. 2018. C) Midwest. Three Ways to Reduce a Trade Deficit. United States spends only a fifth of what other advanced economies spend on average to help people find new jobs Globalization has helped narrow inequality between the poorest and richest people in the world, with the number living in extreme poverty cut by half since 1990. Propelled by the efficiency or appeal of wireless communications, electronic commerce, popular culture, and international travel, globalization has been seen as a trend toward homogeneity that will eventually make human experience everywhere essentially the same. The way globalization allowed this situation to spread led to the nation of Iceland nearly goingbankrupt, for example.PoliticsCultural and economic globalization have caused countries to become more connected politically. Washington: Peterson Institute for International Economics. Newport, Frank. Cultural globalization | Pros, Cons, Examples, Impact, & Factors 3. the cultural landscape, this is known as Payosova, Tetyana, Gary Clyde Hufbauer, and Jeffrey J. Schott. Thompson, Robert L. 2007. Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.Countries have built economic partnerships to facilitate these movements over many centuries. PDF Chapter 3 - Intercultural Communication Washington: Peterson Institute for International Economics. 2016. US Army The process. Text on this page is printable and can be used according to our Terms of Service. Such policies could reduce worker anxiety about job turnover across the board, whether it be from Youth Culture and Globalization - 2689 Words | Term Paper Example Sustainability Policy| The persistence of local culture. C) the belief that ones own religion is superior to others. Globalization results in the expansion of international cultural, economic, and political activities. Students participate in a debate on the issue of human workers being replaced by robots and automation. Sylvester Systems borrows $110,000 cash on May 15 by signing a 60-day. An excerpt of the film is provided in this activity. E) culture realm. University of Chicago Booth School of Business. E) none of the above. D) The spread of Wal-Mart from Arkansas to the rest of the United States. Globalization increases global wealth and improves economic development. of the cause. Bown, Chad P. 2016. National Archives and Records Administration As people, ideas, knowledge, and goods move more easily around the globe, the experiences of people around the world become more similar.Globalization in HistoryGlobalization has a long history, for example, Ancient Greek culture was spread across much of southwestern Asia, northern Africa, and southern Europe. A) The suburbs are too bland and boring. safety net programs. Washington. In 1994, the United States, Mexico, and Canada signed theNorth American Free Trade Agreement (NAFTA), which eventually ended all tariffs on trade goods between the three nations. Washington: Peterson Institute of International Economics. The result is a collection of elite groups whose unifying ideals transcend geographical limitations. Some people worry that Western culture will destroy local cultures around the world. A. areas? For chart sources, see Figure 3 in Policy Brief. d. What is the probability that a bat consumes at least one mosquito in a 30 -second interval? Expanding on the concept of Davos culture, sociologist Peter L. Berger observed that the globalization of Euro-American academic agendas and lifestyles has created a worldwide faculty cluban international network of people who share similar values, attitudes, and research goals. Why do many recent college graduates prefer to move into city neighborhoods We reviewed their content and use your feedback to keep the quality high. Washington: World Bank. If time allows, have groups swap positions after the debate. PIIE Policy Brief 16-15.Washington: Peterson Institute for International Economics. The Rights Holder for media is the person or group credited. Exports are goods and services that are sold to individuals or companies outside of their country of origin. A) favors females over males D) Traditional dress. Washington: Peterson Institute for International Economics. The success of global newsnetworks like CNN have also contributed to globalization. is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Chicago: University of Chicago Press. The agent selects a sample of 575757 one-bedroom apartments and collects and stores the data in Silver Spring Rentals. If no button appears, you cannot download or save the media. A) interstate highways. B) the circulation of a daily newspaper. Stimulus diffusion is 2021 Peterson Institute for International Economics. Globalization - Notes - Globalization is the word used to describe the The fiery chili pepper is native to the Western Hemisphere. Hendrix, Cullen S. 2016. PIIE Charts (July 26). Cambridge Journal of Economics Volume 28, Issue 2 (March): 22952. 2 pts. C) they want to preserve their traditional cultures. Solved . Which of the following statements best describes - Chegg

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