GLOBAL ECONOMY:

ONO MIC GL OBA LIZ A TION

EC
&g LOB AL TR A DE
Presented by: Mary Ann L. Duque
1 Introduction to Global Economy

Economic Globalization 2
3 Global Trade
 GLOBAL ECONOMY
Eight Millenium Development Goals created
by the United Nations (UN) in 1990s:

Eradication of extreme poverty and hunger (ranked as the first)

Achieving universal primary education
Promoting gender equality and women empowerment
Reducing child mortality
Improving maternal health
Combating diseases like HIV/AIDS and malaria
Ensuring environmental sustainability
Global partnership for development
 GLOBAL ECONOMY
The UN (2015) reported that 836 million people still live in extreme
poverty but that is down from 1.9 billion.

The World Bank predicted that by 2030 the number of people living in
extreme poverty could drop to less than 400 million.

CLIMATE CHANGE has to be considered

 Why is ex tre me
pov er ty fa lli ng
 ECONOMIC
GLOBALIZATION
According to the United Nations (as cited in Shangquan, 2000),
“Economic globalization refers to the increasing interdependence of
world economies as a result of growing scale of cross-border trade of
commodities and services, flow of international capital, & wide and
rapid spread of technologies. It reflects the continuing expansion &
mutual integration of market frontiers, & is an irreversible trend for
the economic development in the whole world at the turn of the
millenium.”
 ECONOMIC GLOBALIZATION
PROTECTIONISM- “A policy of systematic
government intervention in foreign trade
with the objective of encouraging domestic
production that involves giving preferential
treatment to domestic producers &

omies
discriminating against foreign competitors”

con
(McAleese 2007 as cited in Ritzer, 2015)
e
Types o f TRADE LIBERALIZATION- removal or reduction of
restrictions or barriers on the free exchange of
goods between nations. These barriers can take
the form of tariffs or non-tariffs barriers.
Economists often view trade liberalization as a
step forward promoting FREE TRADE.
 Exchange of products between
international borders. It is the
lifeblood of the world economy.

what is GLOBAL The exchange products in international

trade can either be EXPORTS OR
TRADE 0R IMPORTS.

INTERNATIONAL Benefits of International Trade:

TRADE? ECONOMIC GROWTH

REDUCTION OF INTERNATIONAL CONFLICT

Helpful to both the government and

businesses as long as no one puts trade
barriers.
 FAIR “Concern for the social, economic,
and environmental well-being of

TRADE marginalized small producers”

(International Fair Trade Association)

It is concerned with protection of EXAMPLE OF THE GROWTH OF FAIR TRADE

workers and producers, STARBUCKS DUNKIN’ DONUTS
establishment of more just prices,
engagement in environmentally sound
practices & sustainable production,
creation of relationships between
producers & consumers, and
promotion of safe working
environment.
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