8Group+3

Globalization can be a complicated issue. Adding to the difficulty in understanding this multifaceted subject is that fact that it involves many economic terms and concepts.
 * __ bII. How does Globalization impact individuals and the World? __**
 * A. ** Go to as a group, take this quiz [] on economic vocabulary terms that are associated with globalization. Once you are confident that you know what these terms mean, move onto part B.
 * B. ** Your group as been assigned the “Pro-Globalization” position. **Describe which** of the following are points/arguments for “**Pro- Globalization**”. Be sure to **explain** why each term belongs on your group's assigned side. Some terms can be on **both** sides of the Globalization debate.


 * Trickle down theory Because as big countries build up they theorize that it will spread to other countries as well eventually
 * Natural progression
 * IMF and World Bank - Support it because it regulates the flow of goods and capitals and encourages developing countries to expand resource exports so that they can gain more hard currency.
 * Weak environmental laws They believe that this will encourage economic growth because they will be able to expand their buisnesses
 * Bubble economies
 * Sweatshops - They support this because they believe it will eventually lead to an improved economy.
 * Export economies - This is a point for globalization because certain economies are exporting to other countries so they share their ideas and products.
 * Specializing in the marketplace
 * Economic convergence - They believe that by making capital easier to obtain, the poor countries will economically catch up to the advanced countries.
 * Promoting efficiency - The world in which we live runs on efficiency, the more efficient you are, the faster your products will hit the market and help to expand global economy and ultimately globalization.
 * “Wealth Gap” btw. the rich & poor - They are trying to decrease the gap between poor countries and wealthy countries
 * Instantaneous global economy
 * North American and European Transnational firms - It gives workers better working conditions, and better pay; it improves the worker's well-being
 * Diffusion of technology & ideas - the spread of ideas helps countries compete creating stronger economic powers.