Class Notes (838,194)
Canada (510,747)
Geography (1,356)
Lecture 2

Lecture 2 - Globalization.docx

5 Pages
Unlock Document

Geography 3422A/B
Milford Green

Globalization 9/18/2012 11:35:00 AM Globalization  The worldwide processes that makes the world, its economic system and its society more uniform, more integrated and more interdependent  Causes a shrinking of the world Logistics and Pricing  Globalization requires greatly increased coordination of transport by road, rail, sea or air and now by the internet  Prices for identical items can vary dramatically from place to place although they are available globally  Homogenization of products does not mean homogenization of price, companies will always price according to the market and demand Globalization of Culture  Culture – the total learned way of life of a society  Depending on where you are in the world you will experience globalization at different levels  Trends of cultural globalization: o Globalization of culture is based on increasing levels of shared beliefs, social forms and material traits o Societies display fewer cultural differences than in the past th  *Countries with most internet users – Canada is 11 o China is 1 st  Powerful branding o Apple – most globally recognized brand o Coca-Cola – most valuable global brand Foreign Direct Investment  FDI – investment by foreigners in wholly owned facilities that are operated by the foreign owner of a TNC o US is the number one country for FDI o Money goes from home country to host country  Home – the country that money is coming out of (outward FDI is money flowing out from the home)  Host – the country where the money is going to  Most countries want to see positive FDI  Trends: o 1914 – Britain is the worlds top country for FDI (investing in others) o 1970 – US takes over as largest FD Investor o Japan is not as welcoming as most countries of FDI into their economy o Canada has been attracting less FDI than it used to o The total stock of FDI is steadily increasing o 1995 – turning point, more money began going out of Canada rather than coming in o 1914 – biggest host nation was Latin America o 1914 – biggest home nation was the UK o 1938 – biggest host nation was Latin America o 1938 – biggest home nation was the UK  US had large increase  Germany had a large decrease Improved Communication  4 technological advancements that changed communication: o Jet plane o Internet o Call phones o English becoming the world business language  WWI shut down the first wave on globalization Globalization of Finance  Three major centers of business – New York City, London and Tokyo  Deutsche Bank, Germany – the largest bank in the world Banks  Big 5 Canada Banks o Royal Bank of Canada (RBC), Montreal o Toronto-Dominion Bank (TD Canada T
More Less

Related notes for Geography 3422A/B

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.