Transcript Major Players in Globalization

Major Players in Globalization
HSB4M
Chapter 10
Unit 3: Social Challenges
Large Manufacturing
Corporations
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Also known as
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What do they do?
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They sell goods, manufactured products
Where do they do it?
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transnationals
multinationals
Production done in countries where wages are low and costs
are low and taxes are low in order to make profit
(developing countries). Products tend to be sold in
developed countries to people who have disposable income.
Role in globalization: suppliers
Unit 3 Detour worksheet, Q2b
Large International Banks
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Such as RBC, HSBC (“the world’s local bank”)
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Why do they use these acronyms?
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What do they do? Sell financial services
(financialization = …)
Who benefits?
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Banks, corporations, the economy, financial elites (“1%”)
Negative consequences?
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To appear more generic
Income can become concentrated in the hands of the
wealthy (financial elite) – income inequality
Role in globalization: facilitators
Unit 3 Detour worksheet, Q2b
International Governmental
Organizations
What do they each do?
 WTO: World Trade Organization – reduces
restrictions on int’l trade
 WB: World Bank provides loans to developing
countries
 IMF: International Monetary Fund maintains
stable exchange rates to increase world trade
 Role in globalization: regulators/promoters
Unit 3 Detour worksheet, Q2b