Chapter 1: History of Globalization Flashcards
Globalization can be defined as the process of international incorporation
Murray, 2006
For instance, the Silk Road, which connects Asia, Europe and Africa, is an excellent example of the transformative power of global exchange
Brook, 2008
Furthermore, the global migration of individuals, goods and thoughts
extended considerably in the 15% and 16ª venturis. As defined above, globalization is an elimination of trade barriers, communication and cultural exchange limitations
Murray, 2006
(NAFTA)
North American Free Trade Agreement
The __________ has notably been identified as the leader in globalization after the ____________.
United States, World War II
What year was (NAFTA) introduced?
1993
In ________, the International Monetary Fund acknowledged four fundamental aspects of globalization (Brook, 2008). These aspects include _________, ______________,_______ and _____________
2000
trade and transactions
capital and investment movements
migration
dissemination of knowledge
Early in the __________, the developing states augmented their global trade share. However, there was a vast disparity among the major regions in the world in regard to trade and other transactions. Also, the movement of people to different places in the world had a significant impact on the globalization factor.
21st century
In addition, ________________is also an integral aspect in globalization (Brook,
2008).
dissemination of information
The former president of the United States; ____________ claimed that. they should not be against globalization. However, it is observed that the country is significantly falling behind when competing economically in the global market (Brook, 2008).
George W. Bush
Most of the corporations which are located in the ___________ have moved their services to other countries where it is cheap to perform their business.
United States
In the modern world, the concept of _____________ can be described as a superior political entity which is liable for governing locations that are inhabited by populations with a sense of mutual identity.
nation-state
GDP
Gross Domestic Product
In__________, there was a conference that was held by the three allied war leaders. The conference that was known as the Yalta Conference enabled the leaders to agree in the foundation of the United Nations after the 2nd World War.
1945
This union is headquartered in ________.
New York
The main aim of the United Nations was to focus on _____________, _________, dispute _______, _______________and _____________
international law
disaster relief
resolution
recognition of new states
human rights aspects.
The United States practiced a _____________ with the states that it was able to influence
quasi-globalization
The United States also promoted _________ among its allies daring the cold war era.
free trade
After the ______________ was endorsed, these tariffs became less necessary in the country
16” amendment
In the _________, the United States made an attempt to protect the manufacturers who were trying to survive from ___________
1930s, the Great Depression.
Therefore, the Congress approved the shocking _____________.
Smoot-Hawley Tariff
This conference formed the _____________. Also, this agreement was aimed at enhancing globalization (Brubaker, 1992),
General Agreement on Trade and Tariffs
In ___________, the Congress approved the ____________________. This act was prepared to slacken trade agreements and encourage other countries also to do the same.
1934, Reciprocal Trade Agreements Act
According to current statistics, the United States has incorporated __________ in the free trade agreements. Later on, they had a conference that involved the World War Il allies in 1944.
17 nations
This agreement also led to several multilateral trade meetings. By the end of _____________, __________ had accepted the proposal to create the World Trade Organization.
1993, 117 nations
(VOA)
Voice of America
