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GGRB28H3 (121)
Torri (11)
Lecture

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Department
Geography
Course
GGRB28H3
Professor
Torri
Semester
Winter

Description
L03 globalization: increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, services, technology, and capital * leads to the emergence of a global marketplace or a single world market international trade: exchange of goods, capital, and services on an international scale * butterfly effect - what happens in one country has a huge effect in others foreign direct investment (FDI): investment in other parts of the world * progressively growing around the world internationalization of commercial exchanges: measured with export of goodsservices * geographical specialization of different countries (manufacturing production, technology goods based on research, raw materials) -- comparative advantage Integration of Economies - made possible by: technology communication networks internet access growth of economic cooperation trade blocs (NAFTA, EU, etc) international treaties of free trade (GATT) Multinational Corporations - companies or transnational enterprises with headquarters in one country but business operations in many countries - 1980 = 7000, in 2002 = 64 000 MNCs, controlling 870 000 branches and 54 million employees (70% of global trade flo
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