lesson 2 - different aspects of economic globalization (2a)

Quiz 1

Correction

Please write the whole sentence for 2 times at the back of the Quiz paper

Hand in the file on Friday

Answer

(1) worldwide(2) extent(3) access(4) contacts(5) constraints(6) borders/ boundaries(7) obvious(8) integration(9) economics(10) culture

Different aspects of economic globalization

Lesson 2

Introduction

Before the 20th century, most economic activities took place locally (本地 ).

In recent decades, as transportation and communications have become more developed, capital market, labour market as well as commodity market have become globalized.

1. Globalization of capital market (資本市場全球化 )

More and more private enterprises (私人企業 ) as well as governments have started to raise capital overseas.

Listed companies (上市公司 ) in the New York Stock Exchange

17% Non-American enterprises

e.g. Asia, Europe, and other regions around the world

Restriction (限制 ) on capital flows (資金流動 ) have become more relaxed

Large groups of investors (投資者 ) from international organizations are looking for opportunities around the world

Brought invaluable capital to developing counties (發展中國家 )

2. Globalization of labour market (勞動市場全球化 )

More and more multinational corporations (跨國企業 ), like Nike and Sony, have moved their production procedures ( 生產工序 ) to other production bases in overseas countries.

E.g Mainland of China, Thailand, Indonesia

Such international division of labour has increased competition among workers around the world.

Because of relatively low wages

workers in less developed areas have better job opportunities.

3. Globalization of commodity market (日用品市場全球化 )

A lot of enterprises are now selling their products to overseas markets instead of just focusing on the local market.

Enable consumers to purchase products from places around the world

Vocabulary

capital market (資本市場 ) labour market (勞動市場 ) commodity market (日用品市場 ) listed company (上市公司 ) developing countries (發展中國家 ) capital flow (資金流動 ) private enterprise (私人企業 ) multinational corporation (跨國企業 ) international division of labour (國際勞動力的分工 )

Next Lesson

Please take a look at Task 2 “Allegation against Nike” p.33-34

Remember to hand in the file to me on Friday (18/3)