GGR111H5 Final: geo111 final exam notes-1.docx
Document Summary
Globalization is when production and distribution isn"t constrained by national boundaries (i. e. translational corporations) 1920/30s a lot of trade barriers btw countries. Globalization started after wii when the world bank was created to help europe and the intl. Monetary fund (imf) was created to help countries whose currencies were tied to gold or the. Free trade started with the general agreement on tariffs (gatt) to decrease trade barriers. Was replaced by the world trade organization later on (wto). There are a lot of regional organizations (i. e. asia pacific economic cooperation (apec) Includes three largest economies - china, japan and us. China is adopting increasingly capitalistic economic policies. =corporations that operate in two or more countries can relocate production and other facilities with relative ease can benefit from geographic variations in knowledge, capital, labour, resources, national regulations and taxes. Able to take advantage of land and labour costs at other countries.
