2011. The protests turned violent. Today,80 percent of world tradeis driven by supply chains run by multinational corporations. The Role of Trade in Ending Poverty. All of the choices. Bradford, Scott C., Paul L. E. Grieco, and Gary Clyde Hufbauer. Why, After 200 Years, Cant Economists Sell Free Trade? Washington: Peterson Institute for International Economics. Through globalization, people may become aware of incidents very quickly. Peddling Protectionism. Transcribed image text: . Trade expert Gary Clyde Hufbauer points out that the national income gains Wages are stagnant, as health care and higher education costs rise. Get a Britannica Premium subscription and gain access to exclusive content. B) migrants. b. Ask them to brainstorm what some pros and cons may be, and write them on the board. Battle in SeattleThe 1999 meeting of the World Trade Organization (WTO) was held in Seattle, Washington, United States. Countries have built economic partnerships to facilitate these movements over many centuries. C) has equality between males and females Globalization reduces unique features of local culture and contributes to global cultural homogenization B. Corrections? View the full answer. B. 2017. E) None of the above, Examples of non-material aspects of culture include all of the following except The Multiple-choice. E) culture realm. Gallup (April 1). Inequality is widening. 2016. US-China phase one tracker: Chinas purchases of US goods. Which of the following statements best describes cultural hybridization? They get their spice from chili peppers. A) A race often has a single homeland, an ethnicity is usually scattered across the world. These include FDI, securities (which are bought and sold), and debts. Dueto globalization and other factors, it isimpossible for large industrialized nations toexit the global economy without devastating effects. With anyone in the world now a text, click, call, or plane flight away, 95 percent of potential customers for goods and services are outside the United States, ready to buy goods and services from other countries if US producers are barred from their markets. C) each major world religion can be directly linked to a cultural homeland. C) dowry. Washington: Peterson Institute for International Economics.Bown, Chad P., and Jennifer A. Hillman. 2019. 2012. 2011. Globalization increases global wealth and improves economic development. Globalization involves interconnectivity amongst people and businesses across the world. B) religions do not have any impact on the built landscape. Material aspects of culture include B) Hollywood movies. D) the belief that one's own ethnic group is superior to others. Have students use the provided websites to conduct their own research and to learn more about the issues in the debate over globalization. Text on this page is printable and can be used according to our Terms of Service. A) have fewer legal rights than men. Reuters/Daniel Acker, Russell Boyce, Marcos Brindicci, Larry Chan, Kevork Djansezian, Regis Duvignau, Gary Hershorn, Leah Millis, Charles Platiau, John Sommers II, and Piroschka van de Wouw A) American news organizations, such as CNN. So even if you have the perfect, most optimal international trade agreements, there will always be those . Globalization is influenced particularly through traditional political institutions, such as nation-states. In folk societies, materials used for building homes More open trade could add another $540 billion to the US economy by 2025, equivalent to $1,600 a year in income per person. A) are selected for the recyclable properties. This meeting was protested by thousands of people opposed to globalization. D) a cultural landscape. PIIE Policy Brief 18-5. Washington: Peterson Institute for International Economics. Some menu items, such as the Big Mac, are the same all over the world. Expanded trade spurs the spread of technology, innovation, and the communication of ideas. Vox (August 11). These practices discriminate against not only Americans but also US allies. E) the belief that ones own culture is superior to all others. Globalization has made Gogol immediately comfortable with American culture. C) It should be coupled with analysis in decision-making. Globalization in History Globalization has a long history, for example, Ancient Greek . Peterson Institute for International Economics. E) none of the above. The idea was to create a better world with countries seeking to cooperate with one another to promote prosperity and peace. PIIE Charts (July 26). What is the term for a group of people who identify with their cultural and Let us know if you have suggestions to improve this article (requires login). A widely cited study [pdf] shows that between 1991 and 2007, lower-wage manufacturing workers within industries that faced import competition experienced large and lasting earnings losses, while higher-wage workers in these industries did not. C) The spread of AIDS from Africa to Europe. those who adopt new ideas just before the average member of a social system, those who are reluctant to adopt until most others do so, those who are the last to adopt an innovation, insisting on using ones own cultural rules. The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade [pdf]. Today, foods in Korea and many parts of China are often spicy. RealTime Economics (July 19). They fear that everyone will end up eating hamburgers and watching Hollywood movies. Countries are growing less likely to trade with one another. A) Southwest USA-Northern Mexico. Globalization has forced Gogol to reject Indian culture. Trade and Investment Policy Watch (January 18). D) the innovation of a cultural trait. PIIE Working Paper 19-17. The largest minority group in the United States is You cannot download interactives. Will the Liberal Order Survive? To ensure full site functionality, please use an alternative web browser or upgrade your version of Internet Explorer. Washington: Peterson Institute for International Economics. 7. E) All of the above. E) all of the above. . 1. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. D) the area know as the "South". The Brexit agreement: An economic guide for the perplexed. Steel and Aluminum Tariffs. A. People often practice their folk customs instead of pop culture because Tariffs are paid by domestic importers, not foreign governments or exporters. Global inequality and international trade. A) The Rocky Mountain Region. Washington: Peterson Institute for International Economics. height: 60px; 2018. The corporation can pay lower wages, because thestandard of livingin less developed countries is much lower. The Dispute Settlement Crisis in the World Trade Organization: Causes and Cures. E) an area where two cultures merge into a single culture. Nye Jr., Joseph S. 2017. Not surprisingly, polls vary widely depending on how and when the question is posed. 2021. By sharpening such identities, these NGOs have globalized the movement to preserve indigenous world cultures. 1145 17th Street NW Annual Review of Economics 8: 205240. D) Many younger people who are childless arent concerned with the quality of public A) interstate highways. Washington: Peterson Institute for International Economics. JOB CHURN Bergsten, C. Fred. B) Jews. C) The spread of AIDS to the United States. The best ideas from market leaders spread more easily. 2018. C) do not earn the same pay as a man does. DECLINE IN INEQUALITY GLOBALLY, BUT WIDER WITHIN UNITED STATES E) Transculturation. Statement before the US Senate Committee on Finance hearing "Current and Proposed Tariff Actions Administered by the Department of Commerce," June 20, 2018. Step 1) Answer: The statement that best describe the trends in globalization of markets is option d. Unable to increase markets domestically, most of the companies look in expanding their markets in other places of the world. The patterns of cultural globalization is a way of spreading theories and ideas from one place to another. Christopher Columbus first brought chilies to Europe in 1493, and from there they spread across Asia. E) All of the above. Bown, Chad P. 2022. Which statement about race and ethnicity is true? Factories in the county of Lancashire, England, created madras cloth. But the term gained popularity after the Cold War in the early 1990s, as these cooperative arrangements shaped modern everyday life. Chapter 7 of US-China Economic Relations: From Conflict to Solutions. And people all across the world are eating more meat and sugary foods, like those sold in fast food restaurants.The worldwide expansion of McDonalds has become a symbol of globalization. Foreign direct investment (FDI) involves establishing ownership or controlling interest of a business in another country. The incident is sometimes called "the Battle in Seattle.". A) popular culture items are often expensive to buy. Although globalization has affected us economically and politically, it has also affected us socially on a wider scale. 3. C) culture hearth. As pointed out by Swedish anthropologist Ulf Hannerz, this group advocates a view of global culture based not on the replication of uniformity but on the organization of diversity. Often promoting this view are nongovernmental organizations (NGOs) that lead efforts to preserve cultural traditions in the developing world. Globalization reduces unique features of local culture and contributes to global cultural homogenization B. Public Comment on Trump Administration Report on Significant Trade Deficits. Migrant workers from the Philippines, for instance, may travel to Europe, Australia, or North America to find better-paying jobs.People do not travel just for work, of course. The Memoirs of Cordell Hull, Volume 1. Global supply chains are production networks that assemble products using parts from around the world (known asintermediate goods). British manufacturers could then sell theirfinished goods, such as clothing and blankets, to buyers all over the worldthe United States, Brazil, Australia, even India.Globalization sped up dramatically in the twentieth century with theproliferationof air travel, the expansion offree trade, and the dawn of theInformation Age. E) all of the above. A) an area where cultures are divided. Nearly All US Trade Deals Were Negotiated, Signed, and Implemented by Republicans. B) New York, London, and Paris. Global Value Chains and Development: Investment and Value Added Trade in the Global Economy. Trade and Investment Policy Watch (May 8). Westernization began with traders, colonizers, and . Negotiated under President Obama, the Trans-Pacific Partnership (TPP) agreement was intended to entice China to improve its practices by allowing the country in on the lucrative deal only if it agreed to new rules, but President Trump withdrew from the deal. Why do many recent college graduates prefer to move into city neighborhoods Which statement describes the globalization of culture More uniform consumption preferences enhanced communications increased unequal access to resources A hearth is defined as A region from which a phenomenon originates Washington: Peterson Institute for International Economics. E) Japanese capitalism. Washington: Peterson Institute of International Economics. Trade and Investment Policy Watch (November 7). The example of quinoa in this chapter was used to illustrate an aspect of the globalization paradox. E) all of the above. If a media asset is downloadable, a download button appears in the corner of the media viewer. C) The Bible Belt. B) Contagious diffusion. Kletzer, Lori G., and Robert E. Litan. the cultural landscape, this is known as C) the belief that ones own religion is superior to others. to another. Step 2) Explanation: Glo . Each year, millions of people move from one country to another in search of work. B) grooms gift. As a major world trading partner and manufacturing hub, China has become one of the most dominant forces in the global economy. C.Globalization has resulted in fewer connections among countries. Originally, HSBC stood for Hong Kong Shanghai Banking Corporation, which was founded in 1865 to promote trade between China and the United Kingdom. C) Hispanics. This concept makes production more efficient, promotes economic growth, and lowers prices of goods and services, making them more affordable especially for lower-income households. Trade and Globalization. While every effort has been made to follow citation style rules, there may be some discrepancies. The institutions established include: MORE GOODS AT LOWER PRICES But a 2016 Bloomberg poll asked, Do you think US trade policy should have more restrictions on imported foreign goods to protect American jobs, or have fewer restrictions to enable American consumers to have the most choices and the lowest prices?" The global economy is innately tied to trade; it allows countries around the world to obtain any resource they may want, whether or not it is produced on the home front. cultural globalization, phenomenon by which the experience of everyday life, as influenced by the diffusion of commodities and ideas, reflects a standardization of cultural expressions around the world. Bown, Chad P. 2021. Which of the following describes globalization of. a. The surplus in services suggests the competitive strength of US services in the global market. PIIE Working Paper 17-10. connection of different parts of the world resulting in the expansion of international cultural, economic, and political activities. A) cultural environment. About 70 percent of the people in the world usecell phones. An example of a popular culture holiday that has transcended its folk culture roots is 10. A. 2017. B) influence of a culture decreases the further one travels from the core. D) The spread of Roman Catholicism to Latin America. Globalization increases global . D) the belief that one's own ethnic group is superior to others. New York: United Nations. Although homogenizing influences do indeed exist, they are far from creating anything akin to a single world culture. Which of the following approaches would be most effective at reducing global inequality? 12%,$110,000 note. D) globalization. Globalization encourages each country to specialize in what it produces best using the least amount of resources, known as comparative advantage. C) Western Europe. Globalization is an elimination of barriers to trade, communication, and cultural exchange. Globalization is the connection of different parts of the world. Immigration is the process of moving to a new country or region with the intention of staying and living there. Edited by Madona Devasahayam, Helen Hillebrand, and Steven R. Weisman E) All of the above. Princeton, NJ: Princeton University Press. 2011. E) none of the above. Anthropologist Arjun Appadurai described and studied five dimensions of global cultural flow. E) none of the above. C) cultural agglomerations. Washington: Peterson Institute for International Economics and Brookings Institution. A) marriage tax. B) French Quebec. Moran, Theodore H., and Lindsay Oldenski. The U.S. Income Distribution:Trends and Issues [pdf]. Countries gather at the 1944 Bretton Woods conference. d. D) Scandinavians in the upper Midwest. Washington: Peterson Institute for International Economics. It's Fun to Discuss the USMCAthe New NAFTA. There are abuses within the system and rules need to be updated. Code of Ethics| B) Step migration. Trade and Investment Policy Watch (December 2). The success of global newsnetworks like CNN have also contributed to globalization. Trade and Investment Policy Watch (September 5). which countrys government? Manufacturing employment share has also declined Lu, Zhiyao (Lucy), and Gary Clyde Hufbauer. Which statement concerning the globalization of Western culture is true? 2021. Adjustment and Income Distribution Impacts of the Trans-Pacific Partnership. Which example is not an ethnic region of North America? But the term gained popularity after the Cold War in the . C. Globalization makes national identity irrelevant. Ask students to record the information they find on the worksheet. is an aspect of cultural globalization and refers to the reduction in cultural diversity . If time allows, have groups swap positions after the debate. Updates? If a student blindly guesses the answer to every question, what is the probability that the student will correctly answer all six questions? Kirkegaard, Jacob Funk. They are said to follow a recognizable lifestyle, are instantly identifiable anywhere in the world, and feel more comfortable in each others presence than they do among their less-sophisticated compatriots. In other words, the con of cultural globalization is that there may develop one world culture (an Americanized world) rather than cultural diversity. A) the fear of outsiders. They are exposed to ideas about goods and services, which may increase demand for a specific product that may not be available at home. B) ethnic enclaves. 5. Newport, Frank. Thefinancial crisisthat began in the United States in 2006 quickly spread around the world. from both cultures. Washington: Peterson Institute for International Economics. Which of the following statements best describes the dialectics of globalization? Meanwhile, American fast food chains have become common throughout the world.McDonald'shas more than 37,000 restaurants in over 100 countries. D) folk cultures must use local materials when building. All rights reserved. B) Nordic skiing . Listening to the debates can be confusing. The globalization trend eventually waned and crashed in the catastrophe of World War I, followed by postwar protectionism, the Great Depression, and World War II. 2015. Many companies usedraw materials from distant lands. Studies show that globalization has also diminished US worker bargaining leverage to demand higher wages. Foreign Affairs (March/April). Promotes free trade. For example, they may stop chargingtariffs, or taxes, on imports. A) a cultural environment. And the reality is that the problems people face today go far beyond the effects of globalization. Consumers must be responsible to a triple bottom line of economic value, social progress, and environmental health. D) are responsible for housework and child rearing. B) the spread of an underlying principle or idea. The correct answer is 2: The world is becoming more globalized and connected. 2017. Globalization supports new job opportunities but also contributes to job displacement. While most Americans only began paying attention to globalization with the North American Free Trade Agreement (NAFTA) debates in 1993. D) the spread of an idea or trait through the physical movement of people from one place C) the spread of an idea from persons of power to other persons.

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