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ECONOMIC GLOBALIZATION!! :D - Coggle Diagram
ECONOMIC GLOBALIZATION!! :D
ACRONYM RELATED STUFF
THE BRETTON WOODS CONFERENCE
it contributed to economic globalization by making the IMF which makes growth in the 191 affiliated countries much easier.
ok so basically the bretton woods conference invented the IMF and the IBRD
WBO (world bank organization)
the WBO (world bank organization) is essentially a bank for all countries from which they can take loans from for money
it contributed to economic globalization by Facilitating trade and integration for many countries globally
WTO/Free Trade
It contributed to economic globalization by allowing boundless trade, and now we have
A V O C A D O S F R O M M E X I C O
P.S. I
HATE
avacados.
so essentially the WTO/free trade stuff allows countries to trade without limit and without worry!
CAPITALISM
When trade and industry are controlled by a private owner for profit
It has (negatively) contributed to economic globalization by causing sweatshops and slave labour. sweatshops are good in some cases, but not always.
NEW TECH
Robot type shart
it did good and bad for economic globalization because automation is taking jobs, but making said autonomous stuff is a new, well-paid job.
Theorists
hayek
hayek made the, as i like to call it: "nuh uh" idea where exchange rates are fixed
this was a good thing (in my opinion) because it is the exact opposite of inflation, therefore making it good :smiley:
freidman
freidman made the not fixed exchange rate thingamabobber
this is bad, because it is what made inflation. inflation bad. no further comment.
TNC's
these are transnational corporations and basically what it does is make companies go across multiple countries, hence the name trans- as in to change, -national, as in countries.
it contributed to economic globalization by making things like Nike and mcd's global, (i like mcd's, dont tell nobody)