Free trade, Global division of labor, Globalization, MNC, TNC
Globalization refers to the increasing interconnectedness and integration of economies, societies, and cultures across the world through the rapid flow of goods, services, information, and people. It is characterized by the expansion of international trade, investment, and technology transfer, as well as the movement of people across national borders.
Globalization has been facilitated by advances in transportation, communication, and information technology, which have made it easier and cheaper for people and businesses to connect and operate across borders. As a result, goods and services are produced and consumed in a more integrated global market, leading to increased competition, lower prices, and greater consumer choice.
At the same time, globalization has also created challenges, such as job displacement in certain industries, growing income inequality, and environmental degradation. The benefits and costs of globalization are not equally distributed, and there is ongoing debate about how to ensure that the benefits of globalization are more widely shared while mitigating its negative impacts.
More information available with the preparatory activity :
This cartoon criticizes the relocation of production from the USA to low-wage countries (Indonesia). On the left side, you can see a young man hanging on the wall, bored and without posture. The shrift next to him, « No Work », suggests unemployment. Nevertheless, he can afford shoes worth $150. On the right side, you can see a woman (presumably the same age). She sits at a sewing machine and makes brand shoes for Nike under great strain (she sweats). She looks very unhappy and overworked. The overload is made clear again by the writing « lots of work ». She does not wear any shoes herself.
- Global Division of Labor
- Free Trade
- MNC / TNC