Scribd
Upload
753 views10 pages

Economic Globalization and Global Trade: Rapporteur: Ace Dela Minez Marites Canilao

The document discusses economic globalization and global trade. It defines economic globalization as the increasing interdependence of world economies through cross-border trade, flow of capital, and spread of technologies. There are two types of economies associated with it: protectionism, which uses policies like tariffs to encourage domestic production; and trade liberalization, which promotes removing barriers to trade. Fair trade has grown and allows consumers to demand better treatment of producers through certifying products from certain countries and paying higher prices.

Uploaded by

Marites Canilao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
753 views10 pages

Economic Globalization and Global Trade: Rapporteur: Ace Dela Minez Marites Canilao

The document discusses economic globalization and global trade. It defines economic globalization as the increasing interdependence of world economies through cross-border trade, flow of capital, and spread of technologies. There are two types of economies associated with it: protectionism, which uses policies like tariffs to encourage domestic production; and trade liberalization, which promotes removing barriers to trade. Fair trade has grown and allows consumers to demand better treatment of producers through certifying products from certain countries and paying higher prices.

Uploaded by

Marites Canilao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 10

Economic

Globalization
and Global
Trade
RAPPORTEUR: ACE DELA MINEZ
MARITES CANILAO

1
“It’s one small step for man, one
giant leap for mankind.”

- NEIL ARMSTRONG

2
GLOBAL ECONOMY
refers to the interconnected worldwide economic
activities that take place between multiple
countries. ... It refers to the exchange of goods and
services between different countries, and it has also
helped countries to specialize in products which they
have a comparative advantage in.

3
Economic Globalization and
Global Trade
According to the United Nations (as cited in Shangquan, woo),
"Economic globalization refers to the increasing interdependence of
world economies as a result of the growing scale of cross-border trade
of commodities and services, flow of international capital, and wide
and rapid spread of technologies. It reflects the continuing expansion
and mutual integration of market frontiers, and is an irreversible trend
for the economic development in the whole world at the turn of the
millennium." (p.

4
There are two different types of economies
associated with economic globalization

PROTECTIONISM AND
TRADE
LIBERALIZATION
5
Protectionism
"a policy of systematic government intervention in
foreign trade with the objective of encouraging
domestic production. This encouragement involves
giving preferential treatment to domestic producers
and discriminating against foreign competitors"
(McAleese, 2007 as cited in Ritzer, 2015, p. 1169).

6
Trade protectionism
usually comes in the form of quotas and tariffs. Tariffs are required
fees on imports or exports. For instance, a pen that costs $1.00 in
Country A and in Country B, it would be given five-dollar tariff. The
pen would become $6 in Country B. This policy was practiced
during the mercantilist era, from sixteenth to seventeenth centuries
until the early years of the Industrial Revolution (Chorev, 2007). The
Great Depression of 1929 marked the peak of protectionism.

7
Until today, protectionism exists in the world
economy despite the growth of trade
liberalization. Countries such as China, Japan,
and the United States are being accused of
practicing protectionism (Ritzer, 2015).

8
Globalization made some countries, especially the developing ones,
to gain more in the global economy at the expense of other nations.
With the helped of what we called "Fair Trade" Fairtrade enables
consumers to demand a better deal for those that produce our food.
Through choosing Fairtrade consumers can demand the highest
standards from business and government, ensuring people and planet
are not exploited to create the products we enjoy.

9
A concrete example of the growth of fair trade is the case of
American coffee chains such as Starbucks and Dunkin'
Donuts. In 2006, there are $2.2 billion dollars spent on
certified products, which is 42% greater than the preceding
year (Hazer, 2015). In turn, coffee growers such as those in
Brazil "get at least $1.29 per pound of coffee beans compared
to the current market price of $1.25" (p. 296).

10

You might also like