Podcast
Questions and Answers
Which regions are expected to be home to the majority of the world's population by 2100?
Which regions are expected to be home to the majority of the world's population by 2100?
According to the provided content, what is a significant factor driving population growth in the 20th and 21st centuries?
According to the provided content, what is a significant factor driving population growth in the 20th and 21st centuries?
Based on the content, what percentage of the global population is estimated to live in Asia and Africa by 2100?
Based on the content, what percentage of the global population is estimated to live in Asia and Africa by 2100?
Which of the following is NOT mentioned as a positive impact of globalization?
Which of the following is NOT mentioned as a positive impact of globalization?
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The term "Decoupling" in the context of globalization refers to:
The term "Decoupling" in the context of globalization refers to:
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Which of the following regions is mentioned as being left behind by globalization?
Which of the following regions is mentioned as being left behind by globalization?
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What does the example of South Korea demonstrate regarding globalization?
What does the example of South Korea demonstrate regarding globalization?
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Which of the following is NOT considered a major player in the "multi-polar" world economy?
Which of the following is NOT considered a major player in the "multi-polar" world economy?
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What does "transparent, accountable" institutional structures refer to in the context of globalization?
What does "transparent, accountable" institutional structures refer to in the context of globalization?
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What was a key driver behind the formation of the General Agreement on Tariffs and Trade (GATT)?
What was a key driver behind the formation of the General Agreement on Tariffs and Trade (GATT)?
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What is the main argument of the text regarding the impact of globalization?
What is the main argument of the text regarding the impact of globalization?
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Which of the following is NOT a key characteristic of a "multi-polar" world economy as described in the text?
Which of the following is NOT a key characteristic of a "multi-polar" world economy as described in the text?
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Which of the following is NOT a factor that contributed to the growth of globalization?
Which of the following is NOT a factor that contributed to the growth of globalization?
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How did the World Trade Organization (WTO) aim to contribute to globalization?
How did the World Trade Organization (WTO) aim to contribute to globalization?
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What is a potential consequence of globalization for individual countries?
What is a potential consequence of globalization for individual countries?
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Why has globalization seen exponential growth in the last 70 years?
Why has globalization seen exponential growth in the last 70 years?
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Which of the following is NOT a direct consequence of globalization?
Which of the following is NOT a direct consequence of globalization?
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How has globalization impacted consumer prices in recent decades?
How has globalization impacted consumer prices in recent decades?
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What is the core concept behind the term "Trade Openness" in relation to globalization?
What is the core concept behind the term "Trade Openness" in relation to globalization?
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What is a potential consequence of the current trend towards de-globalization?
What is a potential consequence of the current trend towards de-globalization?
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How did the formation of global trade organizations like the WTO aim to standardize global trade?
How did the formation of global trade organizations like the WTO aim to standardize global trade?
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What is a primary reason for the potential increase in inflationary pressures due to de-globalization?
What is a primary reason for the potential increase in inflationary pressures due to de-globalization?
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What is the main argument made about the impact of globalization on business competition?
What is the main argument made about the impact of globalization on business competition?
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Which of the following is NOT mentioned as a factor contributing to the trend towards de-globalization?
Which of the following is NOT mentioned as a factor contributing to the trend towards de-globalization?
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What is a potential consequence of the development of "parallel economies"?
What is a potential consequence of the development of "parallel economies"?
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Why might DHL be interested in the trends of globalization and de-globalization?
Why might DHL be interested in the trends of globalization and de-globalization?
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What was the primary goal of the Bretton Woods conference?
What was the primary goal of the Bretton Woods conference?
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How has the global economy changed since the Bretton Woods conference?
How has the global economy changed since the Bretton Woods conference?
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What key event prompted the Bretton Woods conference?
What key event prompted the Bretton Woods conference?
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Which of these is NOT a direct result of the Bretton Woods conference?
Which of these is NOT a direct result of the Bretton Woods conference?
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What is the main argument presented in the quoted article from The Guardian?
What is the main argument presented in the quoted article from The Guardian?
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What is the significance of the year 1944 in the context of international trade?
What is the significance of the year 1944 in the context of international trade?
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How did the Bretton Woods conference aim to prevent future economic crises?
How did the Bretton Woods conference aim to prevent future economic crises?
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Which of the following is a major factor contributing to the current global economic crisis, as mentioned in the article?
Which of the following is a major factor contributing to the current global economic crisis, as mentioned in the article?
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Study Notes
Introduction to Global Business - MANA 1301 - Spring 2025 - University of Texas at Arlington - Dr. David Shurtleff
- Course overview for an introductory global business course
- Course content will cover globalization and its complexities
- Course is part of a larger curriculum that covers various chapters
Chapter 1 - Part 2: The Rise of Globalization
- Globalization is a multifaceted (socioeconomic) phenomenon
- It encompasses elimination of barriers across borders in trade, investments, culture, technology, and politics
- Globalization aims for economic growth and interdependence between nations
Section 1 Roadmap - Chapters 1-4
- Chapter 1: Global trade growth, international trade organizations, and benefits/drawbacks of globalization
- Chapter 2: Trade, foreign direct investment (FDI), tariffs, nontariff barriers, complexity of trade, and China/US example
- Chapter 3: Regional trade agreements, and codifying trade issues
- Chapter 4: International flow of funds and currency exchange
Chapter Objectives
- Explain the characteristics of globalization, specifically global interconnectedness
- Identify current trends in globalization
- Outline four major factors driving economic globalization.
- Discuss the positive and negative impacts of globalization.
Complexity of the World
- The world is characterized by many countries (197), diverse geographies, climate zones, and currencies. ~180.
- Political systems vary across countries (e.g., free market, command, mixed, democratic, communist).
- Corporate structures and stock exchanges reflect global business operations.
- Conflicts between and among nations are frequent occurrences.
Global Business
- Global business is about competing with everyone from everywhere for everything.
- Globalization fosters constant change in the world.
Largest Economies in the World 2024
- The 10 largest economies account for ~67% of global GDP in 2024.
- The USA, China, Japan, Germany, and India are significant global players.
U.S. Imports 1970-2023
- U.S. imports have increased significantly since 1970, reaching a greater proportion of GDP in recent years.
India & Brazil Imports 1970-2023
- Both India and Brazil have seen ups and downs in their imports over the years, reflecting changes in international trade relations and economic conditions.
Is Globalization Important to Companies?
- Globalization is important for companies because so much of modern business is international.
- International revenue is a key metric for large corporations
Apple's International Revenue
- Apple's revenue is significantly influenced by international sales, with various regions as key contributors to its global income.
Coca-Cola International Revenue
- Coca-Cola's revenue is derived from various global markets.
- Key regions are shown as pie chart segments.
Globalization Important for Companies
- For example, 70% of Boeing's revenue is generated from international sales.
Orders/Deliveries Boeing 787
- Orders and deliveries of the Boeing 787 aircraft are distributed across many countries
Boeing 787 Global Supply Chain
- 65% of the 787 components are sourced globally.
What is Globalization?
- Globalization is the socioeconomic process of eliminating barriers related to trade, investments, culture, information, and politics.
Proven Record of Free Trade Among Nations
- History demonstrates that free trade leads to mutual prosperity, while protectionism leads to poverty.
Higher Global Trade Usually Means Higher GDP per Capita
- Global trade is generally linked to higher GDP per capita across countries.
Limited Trade Example - Poverty of North Korea
- North Korea is a poor, autocratic country with a low GDP per capita and limited global trade.
Globalization Trends
- The center of economic gravity is shifting towards emerging economies (China, SE Asia, India).
- Supply chain failures (e.g., COVID-19) have led to more local content, less globalization (De-globalization)
- Regional partnerships are on the rise rather than total global trade.
Trend - Shift to Asia
- Asia's significance in the global economy is increasing rapidly.
- Asia accounts for more than half of global metrics in world economy.
Asian Countries & Trade Routes
- Asian countries have strong links in global trade routes.
- Most of the world's 20 largest trade routes pass through Asia.
Emerging Markets, BRICS, and Global Economic Projection Growth
- Emerging markets like Brazil, Russia, India, China, and other nations show high growth potentials in real GDP.
Shortening Supply Chains
- Some companies want to reduce dependence on overseas suppliers, so they are setting up factories in new countries..
- Companies investing billions to do this.
TSMC will build most advanced chips plants
- Taiwan Semiconductor Manufacturing Company (TSMC) is planning to establish a chip manufacturing plant in Phoenix
- This represents a major investment in chip production moving to U.S. land.
U.S. 'Re-shoring' of Jobs
- More jobs are returning to the U.S.
Walmart's Re-shoring
- Walmart is investing significantly to manufacture goods in the U.S.
Impact of Globalization Trends
– Globalization trends have seen a change and new challenges for businesses. – There is a trend of nations looking to reduce their dependencies on international trade.
How Economically Connected is the World?
- Globalization remains significant, despite recent challenges.
- DHL's Global Connectedness Report shows this.
DHL Global Connectedness Index
- The index shows a record high in globalization in recent years.
Items to Note on DHL Index
- Trade between the US and China is declining
- Trade Between the European Union and Russia has also decreased
Globalization Growth – Trade Openness
- The "trade openness index" exponentially increased over the past ~70 years.
Intl Trade Organizations - History of Globalisation
- Historical overview of international trade organizations like the IMF, World Bank and others.
World Economic Organizations
- 1944 was a turning point in creating world economic organizations to set rules to prevent global economic collapses.
Formation of Key International Institutions That Facilitate Globalization
- The IMF, World bank and others facilitate globalization.
Key International Institutions That Facilitate Globalization
- The IMF serves various purposes including foreign exchange monitoring, trade policies, and loan funding.
- The World Bank assists in developing nations.
World Bank Loan Summary
- The World Bank lends for various purposes, such as supporting projects to improve roads, dams, etc.
- The Bank has offered loans, assistance, and investments.
World Bank Lending
- Data and analysis of where money is lent.
World Bank Lending
- Geographic data and figures about lending for various purposes and geographies.
Global Demand for Goods/Services Increased
- Global demand for goods and services has increased significantly in line with population growth.
Potential Negative Impacts of Globalization
- Some negative side effects of globalization are reduced job availability and fluctuating income in some areas.
Decoupling/De-risking
- Decoupling is lessening reliance on other countries for goods and products
- Less reliance on international trade
Impact of Globalization – Decoupling Product Decoupling Example
- Globalization has led to a trend of decoupling, or reduced reliance on production partnerships, in various global markets, particularly semiconductor markets.
Strategic Autonomy = Decoupling
- Economic and technological strategies to lessen reliance on other countries are increasing.
Economic Impact of Decoupling Trend in Globalization
- A move away from international trade is increasing costs, as many businesses are having to pay more for domestic goods and services and are no longer taking advantage of cheaper products and services.
Global Economic “Connectedness”
– The world is highly connected through international trade.
Myth of Globalization/Negative Impacts
- Discusses the notion that globalization is responsible for reduced job security, economic instability, and political instability in many regions.
Chapter 1 Summary
- Summarizing 3 major forces affecting global business: Definition, Trends (Decoupling/Reshoring), and Reasons for Growth/Decoupling/Multi-polar influence.
Take-home Assignment #2
- Instructions for a take-home assignment related to semiconductor production and de-coupling.
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Description
Test your understanding of globalization and its impacts on population dynamics as discussed in the content. This quiz covers the significant factors influencing growth and regional demographics expected by 2100. Gauge your knowledge of the course content and key concepts related to globalization.
