Globalization Overview and Historical Context

<p>Venice (B)</p> Signup and view all the answers

<p>Notion of the company (D)</p> Signup and view all the answers

<p>Family businesses with shared liability (D)</p> Signup and view all the answers

<p>Spices (C), Silk (D)</p> Signup and view all the answers

<p>Formation of international trade routes (A)</p> Signup and view all the answers

<p>Enabled tracking of complex transactions across multiple locations. (D)</p> Signup and view all the answers

<p>The sextant (B)</p> Signup and view all the answers

<p>Shipping containers (A)</p> Signup and view all the answers

<p>They allowed for larger and faster cargo transport. (D)</p> Signup and view all the answers

<p>They undermine national security. (C)</p> Signup and view all the answers

<p>The container ship (B)</p> Signup and view all the answers

<p>Increased cargo capacity and military projection. (C)</p> Signup and view all the answers

<p>Telegraph (C)</p> Signup and view all the answers

<p>Negative effects of multinational corporations on local economies. (C)</p> Signup and view all the answers

<p>It led to blaming corporations for economic issues. (C)</p> Signup and view all the answers

<p>Unequal access across different regions. (D)</p> Signup and view all the answers

<p>The silk trade (D)</p> Signup and view all the answers

<p>Joint stock companies (D)</p> Signup and view all the answers

<p>Recognizing and mitigating losses for those negatively affected (C)</p> Signup and view all the answers

<p>To highlight the negative consequences of globalization (D)</p> Signup and view all the answers

<p>By pressuring for lower taxes and labor protections (C)</p> Signup and view all the answers

<p>The erosion of unique cultural identities (B)</p> Signup and view all the answers

<p>The Great Depression (C)</p> Signup and view all the answers

<p>Concern about local economies suffering from foreign goods (B)</p> Signup and view all the answers

<p>National sovereignty (B)</p> Signup and view all the answers

<p>It connected global commerce to imperial powers (B)</p> Signup and view all the answers

<p>Race to the bottom (C)</p> Signup and view all the answers

<p>The acknowledgment of its mixed impacts (A)</p> Signup and view all the answers

<p>Weaker nations with limited resources (C)</p> Signup and view all the answers

<p>Wider access to goods and services (B)</p> Signup and view all the answers

<p>A reevaluation of global trade networks (B)</p> Signup and view all the answers

<p>Increased trade barriers (D)</p> Signup and view all the answers

The process of increasing global connections, trade, and cultural exchange, often at the expense of national identity.

Globalization's influence on political decisions as global forces like trade agreements affect policy.

The spread of culture through media like music, movies, and sports.

Ancient trade route connecting East and West, facilitating cultural exchange.

Venice controlled the Western end of the Silk Road after the Roman Empire's decline, becoming a major trading hub.

The methods employed to facilitate global trade, like communication technologies, shipping, and desire for foreign goods.

Early businesses, often family-based partnerships, that shared risk.

A significant period of globalization advancement driven by rapid technological progress, especially tools of industry.

Globalization benefits some (corporations, countries) but harms others who can't compete in the global market.

Protests against globalization erupted at a WTO meeting in Seattle, highlighting concerns about its negative consequences.

Globalization can undermine national sovereignty as countries agree to trade limitations in agreements.

Multinational corporations can pressure governments to reduce standards like taxes and labor protections to attract investment.

Concerns that dominant cultures (American or European) spread globally overshadowing local cultures.

After World War I, nations turned inward promoting nationalism and protectionist measures.

During the Great Depression, countries used tariffs to protect their economies from international trade.

Colonial powers like Britain and the U.S. dominated global trade networks, but this system declined after colonialism.

The end of colonialism caused a reevaluation of global trade connections and their relationship to empires.

Globalization is not always seen as positive; there are real concerns about its impact on societies.

There are ongoing discussions on how to control globalization to minimize its negative effects.

Globalization can limit a country's ability to make independent choices by influencing its laws and policies.

Large companies can use their power to influence governments to create favorable economic conditions for them.

The spread of dominant cultures can lead to a loss of diversity and unique cultural identities.

The end of colonialism forced a re-evaluation of how global trade operates and how nations interact.

A system developed in Venice for tracking complex business transactions across multiple locations. It revolutionized accounting by allowing businesses to record and analyze financial data accurately.

A business structure that evolved from family businesses to allow trusted individuals to share risks in ventures. This enabled larger, more complex businesses to emerge, expanding economic reach.

Modern ships designed for efficient transportation of goods in standardized containers, significantly driving globalization and changing how we move goods around the world.

Instruments like the compass, astrolabe, and sextant, essential for long-distance seafaring, allowing sailors to accurately determine their location and navigate safely.

A movement opposing the negative consequences of globalization, including corporate power, cultural homogenization, and economic inequality.

Ships powered by steam engines, allowing for faster and more efficient transportation across longer distances, revolutionizing global trade and transportation.

A global network connecting computers and devices, enabling instant communication and access to information, accelerating globalization and transforming how we live and work.

The growing demand for foreign goods, particularly spices and silk, in post-1400 Europe, allowed Venice to leverage its position as a central hub and build its military and economic power.

The quote highlights the significant impact of container ships on globalization, emphasizing their role in moving goods efficiently around the world, surpassing the influence of trade agreements.

Technological advancements played a crucial role in shaping globalization. Innovations in ship design, navigation tools, and communication technologies enabled faster, more efficient transportation, communication, and trade.

While some regions have embraced globalization and experienced its benefits, others, particularly in the Global South, lack access to technology and resources, creating inequality in economic participation.

Anti-globalization movements argue that multinational corporations undermine national security by prioritizing their interests, such as lowering taxes and weakening regulations, over national interests.

Samuel Morse's invention of the telegraph in the 1840s enabled near-instant communication across vast distances, revolutionizing business decision-making and information exchange.