What is globalization

rolin corporation

6 Mar 201502:17

Summary

TLDRGlobalization is highlighted through the example of Toyota cars, which are assembled with parts from various countries. The video explains that globalization extends beyond trade, influencing immigration, employment, and culture. It has transformed societies, driven economic growth, and increased international trade. Historical events like Marco Polo’s travels, Columbus’s voyage, Bretton Woods, and the fall of the Berlin Wall are connected to global trade's rise. The video also notes China’s emergence as a global power through its export-driven economy. Ultimately, globalization is portrayed as an unstoppable force shaping the world in numerous ways.

Takeaways

🌍 Globalization involves the production of goods in multiple countries, as seen in the manufacturing of Toyota cars with parts from different regions.
📈 In 1986, global trade was valued at 2,000 billion USD, and by 1996, it had increased by 260% to 5,200 billion USD.
🌐 Globalization is more than just international trade; it affects immigration, employment, ideas, and knowledge exchange across countries.
👥 A significant portion of populations in countries like Canada consists of foreign-born residents due to globalization.
🏭 Factories of international companies are located worldwide, providing employment opportunities and standardizing products globally.
🚶‍♂️ Globalization reshapes societies, influences revolutions, introduces different cultures, and facilitates global justice efforts.
💡 One of the main economic impacts of globalization is the expansion of international trade, which enriches knowledge and drives global economic growth.
📊 World trade has grown twice as fast as the global economy since 1960, driven by financial markets, investments, and capital flow.
📜 Historical events such as Marco Polo's travels, Columbus's discovery, Bretton Woods, and the fall of the Berlin Wall have been milestones in globalization.
🇨🇳 China became a global power through its massive export economy, leveraging cheap labor to compete internationally, affecting industries like textiles worldwide.

Q & A

What is globalization and how is it exemplified by Toyota cars?
-Globalization is a process where countries around the world become closer in various areas, influencing trade, immigration, employment, ideas, and knowledge. It is exemplified by Toyota cars, which are manufactured with parts from different countries such as England, Wales, Japan, China, the Czech Republic, and France, showing the interconnectedness of global production.
What was the approximate value of global trade in 1986, and how did it change 10 years later?
-In 1986, global trade reached a scope of approximately 2000 billion US dollars. Ten years later, it had increased to 5200 billion US dollars, marking a 260 percent increase.
How has globalization impacted the visibility of foreign-made products worldwide?
-Globalization has made foreign-made products, which were rarely seen in countries prior to globalization, a common sight around the world.
What percentage of Canadians were not born in Canada according to the script?
-21% of Canadians were not born in Canada.
What is the significance of factories of international companies being built in various places around the world?
-The establishment of factories of international companies in various places signifies the spread of global production and employment opportunities, reflecting the interconnectedness and impact of globalization on local economies.
How has globalization changed the face of society?
-Globalization has changed the face of society by being a source of demonstrations and revolutions, presenting faraway cultures, and allowing people to pursue justice around the world.
What is the main economic expression of globalization, and how has it affected world trade since 1960?
-The main economic expression of globalization is international trade. Since 1960, world trade has grown at twice the rate of the global economy, partly due to globalization.
What historical events are mentioned in the script as being influenced by global trade?
-The script mentions Marco Polo in 1306, Columbus in 1492, Bretton Woods in 1945, and the fall of the Berlin Wall in 1989 as historical events influenced by global trade.
How did global trade contribute to China's rise as a world power?
-Global trade contributed to China's rise as a world power by enabling it to utilize cheap manpower to create an enormous export machine, which has been claimed to have harmed numerous industries around the world.
What are the factors driving globalization and why can't they be stopped?
-The factors driving globalization include international trade, global chains, and the interconnectedness of countries in various areas. These factors cannot be stopped due to the increasing interdependence and benefits of global cooperation and trade.

Outlines

00:00

🚗 Globalization in Car Manufacturing

Globalization is demonstrated through the manufacturing of goods like Toyota cars, which involve multiple countries in the production process. For example, while Toyota is a Japanese corporation, the chassis is made in England, engines in Wales, and parts like tires and seat belts from other nations. This reflects the global interconnectedness of industries and economies.

📈 Growth of Global Trade

In 1986, global trade reached approximately $2000 billion, and by 1996 it grew to $5200 billion, marking a 260% increase. This surge led to the widespread availability of foreign-made products, which were once rare in many regions. Globalization has expanded beyond trade, impacting migration, employment, and cultural exchanges.

🌍 The Broader Impact of Globalization

Globalization influences not only trade but also societal structures. It fosters immigration and employment in international companies, with 21% of Canadians born abroad. The global manufacturing of goods in identical forms is an effect of globalization. It shapes societies, sparks protests, and brings different cultures closer.

💼 Economic Expressions of Globalization

The primary economic effect of globalization is through international trade. It enriches knowledge, facilitates capital flows, and boosts cross-border investments. Global trade has historically driven the rise of world powers, as seen with China becoming a major player due to its low-cost labor and immense export capacity.

📜 Historical Events in Global Trade

Significant historical milestones have shaped global trade, from Marco Polo’s journeys to the fall of the Berlin Wall. In the late 20th century, financial empires gained prominence over military ones, and global trade reshaped economic powers, such as China’s rise through its export-driven economy.

🚫 Irreversible Forces of Globalization

The factors driving globalization—such as trade, investment, and international cooperation—are unstoppable. Despite challenges and critiques, globalization continues to shape economies and industries globally, illustrating its profound and ongoing impact on the modern world.

Mindmap

Keywords

💡Globalization

Globalization refers to the increasing interconnectedness of the world's economies, cultures, and technologies. It is the process by which global markets and businesses are increasingly interdependent and influenced by each other. In the video, globalization is illustrated through the example of a Toyota car, which is assembled from parts made in various countries, demonstrating how it affects manufacturing and trade. The video also discusses the growth of global trade from 1986 to 1996, highlighting the economic impact of globalization.

💡International Trade

International trade is the exchange of goods and services across international borders. It is a major component of globalization, as it involves the movement of products, services, and capital between countries. The video script mentions the significant increase in global trade value from 1986 to 1996, indicating the expansion of international trade as a key aspect of globalization.

💡Foreign Made Products

Foreign made products are goods that are manufactured outside of the country where they are sold. The script uses the example of foreign made products becoming common due to globalization, which has led to a more diverse market and increased availability of goods from around the world.

💡Immigration

Immigration is the movement of people from one country to another with the intention of residing there. The video discusses how globalization influences immigration, as people move to different countries for various reasons, such as work opportunities or a better quality of life. This is exemplified by the statistic that 21% of Canadians were not born in Canada.

💡Employment

Employment refers to the act of being hired or having a job. Globalization affects employment by creating job opportunities in different parts of the world, often in industries that are part of global supply chains. The video mentions factories of international companies built around the world, employing numerous workers.

💡Ideas and Knowledge

Ideas and knowledge are concepts, beliefs, and information that are shared and exchanged among people. Globalization facilitates the spread of ideas and knowledge across borders, leading to a more interconnected and informed global society. The video script suggests that globalization brings knowledge within reach and enriches our understanding of the world.

💡World Powers

World powers are nations that have significant influence on a global scale, often due to their economic, military, or cultural strength. The video discusses how global trade and financial markets have historically contributed to the rise of world powers, such as China's transformation into a major global player due to its export machine.

💡Financial Markets

Financial markets are platforms where financial assets, such as stocks and bonds, are traded. The video script mentions the role of financial markets in globalization, including payments, injections of capital, and cross-border investments, which have contributed to the growth of global trade.

💡Cultural Exchange

Cultural exchange is the sharing of cultural expressions and experiences between different cultures. Globalization facilitates cultural exchange, allowing for the spread of faraway cultures and the blending of traditions. The video implies that globalization presents us with different cultures, enriching our understanding and appreciation of diversity.

💡Global Economy

The global economy refers to the economic activities and interdependencies that span across the world. The video script notes that world trade has grown at twice the rate of the global economy since 1960, partly due to globalization, indicating the significant impact of globalization on economic growth.

💡Factors Driving Globalization

Factors driving globalization include technological advancements, liberalization of trade policies, and the spread of multinational corporations. The video script suggests that these factors are unstoppable, indicating that globalization is a persistent and ongoing process.

Highlights

Globalization exemplified by Toyota cars being assembled with parts from various countries.

Global trade volume increased by 260% from 1986 to 1996.

Foreign-made products became common due to globalization.

Globalization affects immigration, employment, ideas, and knowledge.

21% of Canadians are immigrants, highlighting the impact of globalization on immigration.

69% of Cádiz's population are foreigners, showing the demographic shift due to globalization.

International companies build factories worldwide, creating jobs and economic interdependence.

Many goods are now manufactured and sold identically across the globe.

Globalization changes societal structures and can lead to demonstrations and revolutions.

Globalization introduces faraway cultures to different parts of the world.

Globalization allows for the pursuit of justice on a global scale.

International trade is the main economic expression of globalization.

World trade has grown at twice the rate of the global economy since 1960.

Historical events like Marco Polo's travels and the fall of the Berlin Wall have influenced globalization.

Global trade has made China a major world power through cheap labor and exports.

Globalization has been driven by factors that cannot be stopped.