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Globalization Essay

1097 words - 5 pages

OUTLINE OF CHAPTER 1: GLOBALIZATION

Opening Case: Flat Panel Televisions and the Global Economy

Introduction

What is Globalization?
The Globalization of Markets
The Globalization of Production

Country Focus: Outsourcing American Healthcare

The Emergence of Global Institutions

Drivers of Globalization
Declining Trade and Investment Barriers
The Role of Technological Change

The Changing Demographics of the Global Economy
The Changing World Output and World Trade Picture
The Changing Foreign Direct Investment Picture
The Changing Nature of the Multinational Enterprise
The Changing World Order
The Global Economy of the Twenty-First Century

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The point to drive home is that our consumption patterns are already very dependent on international business.

Next, ask students the why aspect of this issue: Why, for example, are so many of our clothes made outside North America?

Finally, encourage students to think about the integrated world economy versus distinct national economies by asking about the type of car they own. Drive the discussion towards a consideration of whether talking about the nationality of a car makes sense. Is SAAB a Swedish car? Saab is partially owned by General Motors of USA, uses many mechanical parts imported into Sweden from GM in Germany, and assembles its cars in Sweden for sale in USA. Is a Mercedes Benz assembled in Alabama an American car? Is a Pontiac assembled in South Korea a Korean car? Volvo, Jaguar and Rover SUVs are owned by Ford; Chrysler is a part of Daimler Chrysler; Volkswagen owns Rolls Royce.

OPENING CASE: Flat Panel Televisions and the Global Economy

Summary

The opening case describes the development of the flat panel television industry over recent decades. The case, which follows the production of flat panel televisions across the globe to low-cost locations, clearly demonstrates the impact of globalization, and in particular the globalization of production. Discussion of the case can begin with the following questions:

1. Reflect on the evolution of the flat panel television industry. Why has production shifted from country to country? What does your response suggest about the globalization of production?

2. RCA developed the underlying technology for the flat panel television in the 1960s, yet today, the company plays only a minor role in the industry. Why?

3. How has the globalization of the flat panel television industry benefited consumers?
Who are the losers in the industry?

Another Perspective: Students can learn more about Vizio at the company website at
{http://www.vizio.com/}, and also through information provided by the Hong Kong Trade Development Council at {http://www.tdctrade.com/report/mkt/mkt_060905.htm}.

LECTURE OUTLINE

This lecture outline follows the Power Point Presentation (PPT) provided along with this instructor’s manual. The PPT slides include additional notes that can be viewed by clicking on “view”, then on “notes”. The following provides a brief overview of each Power Point slide along with teaching tips, and additional perspectives.

Slide 1-3 What is Globalization?
Globalization is a shift toward a more...

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