Chapter 2- Multinational and Globalization

A long period of relative peace during the 19th century, following the Napoleonic Wars, allowed for the expansion of international trade.

The shift to liberal economic policies, with the removal of monopolies and reduced tariffs, encouraged international trade.

International trade grew faster than global production in the 19th century.

The Gold Standard linked the value of national currencies to the price of gold, reducing exchange risks between countries.

The 19th century saw few restrictions限制on capital movement between nations, facilitated by the Gold Standard.

The 19th century saw unprecedented空前的migration of people, primarily from Europe to the Americas, with few restrictions on immigration.

Britain, the largest capital exporter, served as the center of the global financial system in the 19th century.

Lower costs for overseas travel made it easier for people to emigrate during the 19th century.

The practice of using forced labor, primarily in the Americas, where people were treated as property and denied basic rights被剥夺基本权利.

A system where workers are contracted to work for a specific period, often in harsh conditions and with limited freedom, commonly used in colonial plantations and infrastructure projects.

The process of one country controlling another, economically, politically, or culturally, often through military force军事力量 or influence.

The expansion of British influence, through colonization and trade, extending to vast territories广阔的领土 in Asia and Africa.

The United States emerged as a major imperial power by the early 20th century, expanding its influence through wars and acquisitions like the Spanish-American War.到 20 世纪初期，美国已成为一个主要帝国强国，通过战争和美西战争等收购扩大其影响力。

Japan modernized and industrialized rapidly in the late 19th century, leading to its own imperial ambitions帝国野心in East Asia, conquering征服Korea and Taiwan.

European powers, including France, Belgium, Portugal, and Germany, carved up瓜分large portions of Africa into colonies, exploiting剥削 its resources and people.

French imperial expansion in Southeast Asia resulted in the colonization of Vietnam, Laos, and Cambodia, establishing French rule over these territories建立法国对这些领土的统治.

Early 1900s saw firms engage in continuous knowledge and resource transfer across borders to exploit opportunities in the global market.企业持续进行知识和资源跨境转移，以开拓全球市场的机会

Activities like mining, agriculture农业, and food distribution, were significant sources of foreign investment in the early 1900s.

Western Europe, particularly Britain, was the major source of foreign direct investment (FDI) in 1914.

Foreign Direct Investment (FDI) was geographically diverse in the early 20th century, with significant investments in Latin America and Asia.20 世纪初期，外国直接投资 (FDI) 的地域分布广泛，其中大量投资集中在拉丁美洲和亚洲。

Foreign investment in the early 20th century was heavily focused on natural resources and services like finance, transportation, and insurance.

By 1914, multinational manufacturing had expanded to include various sectors like chemicals, pharmaceuticals, automobiles, and consumer goods化学品、药品、汽车和消费品.

Companies like Siemens and Singer expanded their business operations abroad, leveraging their domestic expertise and developing new competencies利用他们的国内专业知识并开发新的能力.

Companies adopted diverse organizational structures to navigate驾驭 foreign markets, including creating new ventures solely focused on international operations.

Companies established specifically for international operations, without prior domestic business, primarily in the 19th century.主要是在 19 世纪专门为国际业务而建立的公司，之前没有国内业务。

A legal framework protecting foreign property rights, ensuring compensation in case of seizure确保扣押时的赔偿, promoting international trade and investment促进国际贸易和投资.

Commercial agreements商业协议 between nations, reducing risks, fostering促进 trade, and creating a stable environment for foreign businesses.

The principle that foreign property cannot be taken without fair compensation. This principle fostered trust and encouraged international investment.

The practice of using force to recover property or punish violation追回财产或处罚违法行为 of international law, deterring遏制 unfair treatment of foreign investments.

This period saw the growth in the use of tariffs, quotas, and other trade barriers to protect domestic industries and encourage their development.利用关税、配额和其他贸易壁垒保护国内产业并鼓励其发展

This landmark event symbolized a shift in control of natural resources, with countries asserting their right to manage their own resources.这一具有里程碑意义的事件象征着对自然资源控制的转变，各国主张拥有管理自己资源的权利。

This policy aimed to restrict the number of immigrants entering a country, often motivated by concerns about jobs, culture, or security出于对工作、文化或安全的担忧.

This act raised US tariffs significantly, sparking a chain reaction of retaliatory tariffs from other countries, ultimately contributing to the downfall of global trade.

This refers to the use of measures like tariffs and quotas to protect domestic industries from foreign competition, often at the expense of other countries.

A shift towards protecting domestic industries by imposing tariffs and other trade barriers, aiming to reduce foreign competition and promote national production.

The policy implemented by Australia in 1901 to restrict immigration from Asia and the Pacific Islands, based on racial and cultural discrimination. This policy aimed to maintain a white majority within the country.

A period of severe economic downturn following World War I, characterized by high unemployment, falling prices, and reduced business activity. It was caused by factors including war debts, economic disruption, and deflation.

A global economic crisis that began in 1929, triggered by the stock market crash in the United States. It led to widespread unemployment, poverty, and social unrest worldwide, causing a sharp decline in international trade and production.

The deliberate devaluation or overvaluation of currencies in relation to gold, leading to economic distortions and undermining the stability of international financial systems. It was a factor contributing to the Great Depression.

The formation of regional currency blocs, with each bloc using a common currency and imposing exchange controls to restrict capital movement outside the bloc. It emerged as a response to the collapse of the global financial system during the Great Depression.

A backlash against the global economy, evident during World War I and the Russian Revolution, where governments seized foreign-owned assets and imposed restrictions on foreign companies. This trend reflected a growing nationalism and a move towards protectionism.