MODERN WORLD ISSUES 1 .1 GLOBAL CONNECTIONS Global connections is a theme throughout the Modern World Issues course. Nations and peoples are interconnected through trade, alliances, treaties and international organizations. Connections among nations and peoples of the world are ever changing GLOBAL CONNECTIONS Nations are connected through economic activity Trade-Nations import and export goods and services as a means to satisfy demand Along with these products also come ideas and cultural practices TRADE AND GLOBALIZATION International trade is the exchange of goods and services across national borders. In most countries, it represents a significant part of their economy (GDP) While international trade has been present throughout much of history, its economic, social, and political importance have increased in recent centuries GLOBALIZATION Mainly because of Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing. In fact, it is probably the increasing prevalence of international trade that is usually meant by the term "globalization". Globalization- is a process of interaction and integration among the people, companies, and governments of different nations IS INTERNATIONAL TRADE GOOD? There have been many organizations and agreements dedicated to increasing international trade They seek to reduce barriers to trade between nations which leads to cheaper products on the market However, some argue this has negative effects such as outsourcing and low wages INTERNATIONAL TRADE ORGANIZATIONS Use a computer to research each one of these trade agreements then answer the questions on the following slide North American Free Trade Agreement (NAFTA) World Trade Organization (WTO) Organization of Petroleum Exporting Countries (OPEC) ASSIGNMENT How do these organizations promote interconnectedness? What are the advantages and disadvantages of these trade agreements? Besides products what else is being exchanged when nations trade with one another?