GLOBALIZATION Standard 12.2: Students analyze the elements of America’s market economy in a global setting Standard 12.6: Students analyze issues of international trade and explain how the U.S. economy affects, and is affected by, economic forces beyond the U.S. borders. SWBAT: Define globalization and identify it’s pros & cons, myths & realities Globalization • The process of making something, such as a business, international or the result of this. • What is the result of this? Discuss the pros & cons with your partner. Globalization Pros Cons 10 Myths of Globalization Myth: Something people widely believe to be true but is actually false. • Skim your myth • With your partner/group you will: – Read your myth aloud – Give one example from the reading of why the myth is untrue (have your example written down) MYTH #1 • Increased Trade Equals More Jobs For Americans at Higher Wages. • Why this is false: MYTH #2 • Governments Protect the Environment More as Global Trade Creates Economic Growth. • Why this is false: MYTH #3 • Foreign Investment Automatically Raises Living Standards. • Why this is false: MYTH #4 • Free Trade Benefits Consumers. • Why this is false: MYTH #5 • Globalization “Lifts All Boats” • Why this is false: MYTH #6 • What Benefits Corporations Benefits Us All. • Why this is false: MYTH #7 • Sweatshops Are Not Necessarily a Bad Thing; That’s How the United States Developed, After All. • Why this is false: MYTH #8 • Immigrants Are a Drain on the U.S. Economy. • Why this is false: MYTH #9 • Globalization Will Spread Freedom and Democracy by Increasing Trade Between Nations. • Why this is false: MYTH #10 • U.S. Workers Don’t Need to Worry About Globalization Because We’re So Much More Productive. • Why this is false: Wrap-up • • • • Why do countries trade? What do countries trade? What are the terms of trade? What are some of the costs and benefits of international trade?