Unit 3 Blog Entry: Economic Globalization

In this unit I learned that World bank gives loans to member country's in financial difficulty. I found it really interesting that group of eight includes the eight most developed countries with the strongest economies.What surprised me this unit was free trade agreement such as NAFTA give special rights to big corporations.One concept that I am still having difficulty with is prosperity. One question I still have is what is privatization and what does it do.One skill or learning strategy I found helpful was word wheel If I was to teach someone how to use this I would tell them to first pick nine words from this unit and then draw nine boxes, Next write down the word you know the best in first box, Finally

connect each word to other.

Part B: Free Trade

The concept behind free trade is that if trade is free, certain goods and services can be secured at a lower cost abroad than if the trade is domestic .  Each country could specialize in producing a product less expensively and then exchange it with other nations specializing in producing different goods cheaply, allowing them to have a greater range of goods . However, there are also many arguments against free trade as well. For instance, workers that will not benefit from free trade are called low skilled workers, who do manual labor or services. Their jobs can be taken up just as easily by workers from other countries who are willing to work for less .  People who are against free trade believe that if there is a chance of war, a nation should not be dependant on foreign supplies, and some countries want to protect their businesses from cheaper imports . Industries that compete against imports will always promote their own interests by seeking trade restrictions. An example of free trade is the North American Free Trade Agreement (NAFTA), which is an agreement that brings Canada, U.S., and Mexico( USA and Canada are developed countries and is developing countries) together as one of the largest free trade zones .NAFTA was signed in 1992 to get rid of tariffs on products going between the United States, Canada, and Mexico . 

Part C: Globalization Cartoon

This shows that people are against NAFTA because NAFTA only gives special rights to big corporations.

Part D: Globalization Videos

Positive effects of Globalization
http://www.youtube.com/watch?v=KURJTSHmCqg

Negative effects of Globalization
http://www.youtube.com/watch?v=nefPLq8w0P4&feature=related

Part E: Globalization and Quality of Life

·         The connection is between income per person and life expectancy is how healthy and rich they are

·         Hans Rosling is pro-globalization. I know this because in the video how the 3rd world countries are catching up

·         The most interesting thing I learned was countries are becoming Healthier as the years past

·         One things I would like to learn more about it why pakistan and india were in the bottom is there something wrong with there economy.