Transcript Unit 5 Part I The Global Economy

Unit 5 Part 1:The
st
21 Century Global
Economy
Standard 2.19 , 3.1.6
Bellwork
•Think back to a
trip/experience you had
outside of the U.S. Did those
countries have popular
products or services that
you would find in America
as well? Explain
I see I think I wonder
Essential Question / Objective
•What impact is
globalization having
on the U.S.
economy?
What is globalization?
• Globalization: the movement toward a more integrated and
global economy. This will increase the interconnectedness of
different peoples.
• Increase in trade
• Exchange of different ideas and cultures (music, movies, religions)
• https://www.youtube.com/watch?v=xPD477FuqtY
From Wiki
• Globalization is a process of interaction
and integration among the people,
companies, and governments of different
nations, a process driven by international
trade and investment and aided by
information technology.
Talk, Turn, and Discuss
• According to this video, how are countries
coming closer together?
• Skill Predict: Why do you think such a big part of
Kuwait’s population is foreign born?
• Using your existing knowledge, are you in favor
of countries becoming closer and more reliant
on each other? Explain your position
Impact of Globalization
• 1. Outsourcing: moving production overseas to places like
India or China
• Companies gain a comparative advantage in paying their works
less than U.S
• https://www.youtube.com/watch?v=j_ndI900evc
Talk, Turn, and Discuss
• Why did many metro Detroiters make the
choice NOT to attend college in the 1960’s
and 1970’s?
• From 1979 to 2009 how many
manufacturing jobs were lost in the USA?
• Think of one really good question to ask
after watching this video
Impact of Globalization
• 2. Multinational Corporations: companies with
facilities/buildings in many countries
• https://www.youtube.com/watch?v=DhHHmUd6xfo
Talk and Turn
• How can having corporations like
McDonalds overseas be a bad thing?
Explain
• Explain 2 things you learned after
watching the video
Lets play some games!
•How globalized are you?!
•How do you visualize the
world?
• http://www.sporcle.com/games/g/corplogos
• https://geoguessr.com/
• END
30 Days Outsourcing Video
• Complete the Evidence and Interpretation assignment as you
watch the video
• Be prepared to answer an essential question at the conclusion
Impact of Globalization
• 3. Trade Agreements: an agreement
between one or more countries about
investments and trade decisions
What is NAFTA?
• NAFTA (North American Free Trade
Agreement): agreement in 1994 to reduce and
gradually eliminate tariffs between Canada,
Mexico, and the United States
• Increase free trade!
• Tariffs are taxes on imported/exported goods
NAFTA
• Good:
• Reduce taxes and other regulations
• Stimulate more economic growth
• Lower-cost good available for everyone
• Competition will lead to higher quality
goods
• Bad:
• Higher paying American jobs would be lost
to Mexico (business can lower cost of
production)
• All types of workers would be displaced be
have to be retrained for “global” needs
What is NAFTA?
• http://www.cnn.com/videos/cnnmoney/2016/08/02/naftaexplained-cnnmoney.cnn/video/playlists/money-and-politics/
• https://www.youtube.com/watch?v=XdDft8d0YVA
• http://www.cnn.com/videos/tv/2016/07/10/exp-gps-epnnafta-web-extra.cnn
Trans Pacific Partnership
• Free Trade agreement between 12 countries below
primarily from Asian in origin:
• Has yet to be approved by US Congress due to
controversies from NAFTA etc.
Objective
• Objective: I can describe the role of trade agreements on
increasing globalization
• Language Objective: I can read, discuss, and speak about
trade agreements within the text using claim, evidence, and
reasoning
• HW: NAFTA Current Events Article
NAFTA Current Events Reading
• Individually read the current events article and talk to the text
using our previous strategies
• Look at the sentence starters for questioning/predicting if you
need a way to start
• Clearly annotate the claim, evidence, and reasoning of the author
• If you run into roadblocks or confusion while reading consult
our reading strategies list
• Once you are finished answer this question via writing in 1
paragraph
• Should NAFTA be re-negotiated or modified? Explain
Do Now
•Explain outsourcing
•What are
multinational
corporations?
Impact of Globalization
• 4. Horizontal Integration / Supply Chaining: when a company
absorbs and takes over other competitors. The decision is
usually mutual as they save resources by merging their
strengths. If left unchecked this would usually form a
monopoly
Recap: Impact of Globalization
• What impact is globalization
having on the U.S. economy?
• The Good…
• Advances in technology and
communication
• Lower prices for consumers
• People from across the world
have access to quality goods
• The Bad…
• Income inequality and job loss
• Civil unrest / wars
• Intense competition (could be
good)
Essential Question
•What impact do
transitional
economies have on
the global and U.S.
economies?
Transitional Economies
• Transitional Economy: an economy
which is changing from a command
economy to a free-market economy
• Examples include: India & China
Transitional Economies
• Their impact includes…
• 1. Increasing demand but also competition for
scarce resources (ex: oil, water)
• 2. Providing new markets for goods that are
produced here in the U.S.
• https://www.youtube.com/watch?v=SndgtT5rO7w
•
Transitional Economies
• Their Impact continued…
• 3. Making the global market more competitive
for U.S companies
• 4. Employment is increasing in transitional
economies, decreasing in others…
Case Study: China’s
Transitional Economy
• https://www.youtube.com/watch?v=t
rs_udhjWqc
• Vice News: Chinese Economic Boom
Turns to Bust?
• How is China currently transitioning?
• If China has economic troubles what
does that mean for the U.S.A?
• 2-3 sentence summary