The Contemporary World_101_ECONOMIC_GLOBALIZATION.pptx

In this presentation, you will learn about Globalization. How Globalization affect countries and especially to the people.

1. ECONOMIC GLOBALIZATION BY:CAMILO E.PANGAN,JR.,MA

2. Economic globalization-refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies.

3. It reflects the continuing expansion and mutual integration of market frontiers, and is an irreversible trend for the economic development in the whole world at the turn of the millennium.

4. ECONOMIC GLOBALIZATION Characterized by a drastic economic change occurring throughout the world, the value of trade has increased from 42.1 % in 1980 to 62.1% in 2007 as percentage of world GDP.

5. Trading also moves at a faster speed, according to UNCTAD-United Nations Conference on Trade and Development, the amount of foreign direct investments flowing across the world was US $57B in 1982, by 2015 it reached US$1.76T.

6. the computers can execute millions of stock purchases and sales in different cities in a matter of seconds Books can be digitally downloaded

7. Southeast Asian Countries 2024 GDP and Per Capita Income Singapore-$ 88,450 Brunei- $ 35,110 Malaysia- $ 13,310 Thailand-$ 7810

8. Indonesia- $ 5270 Vietnam- $4620 Philippines -$ 4130 Cambodia- $2, 630 Laos-$1,890

9. Timor Leste - $ 1450 Myanmar- $ 1,250

10. International Trading System Silk Road-Traders used the silk road from 130 BCE when the Chinese Han dynasty opened trade to the West until 1453 BCE when the Ottoman empire closed it.

11. Silk road-the oldest known international trade route , a network of pathways in the ancient world that spanned from China to what is now the Middle East and to Europe. Silk was one of the most profitable products and was highly prized in this network.

12. Beginnings of Economic Globalization Galleon Trade-Manila, Philippines to Acapulco Mexico,1571,It was part of Mercantilism. Adoption of gold standard by US,UK and other European countries

13. Fiat Currencies-the world economy today operates based on this currency that are not backed by precious metals but by its cost relative to other currencies.

14. Bretton Woods System Creation of two financial institutions: 1.International Bank for Reconstruction and Development (IBRD or World Bank) 2.International Monetary Fund (IMF )

15. International Monetary Fund The IMF is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

16. International Monetary Fund Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership .

17. IMF-What we do? The IMF’s fundamental mission is to ensure the stability of the international monetary system. It does so in three ways: keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and giving practical help to members.

18. Economic Surveillance The IMF oversees the international monetary system and monitors the economic and financial policies of its 189 member countries. As part of this process, which takes place both at the global level and in individual countries, the IMF highlights possible risks to stability and advises on needed policy adjustments.

19. Lending The IMF provides loans to member countries experiencing actual or potential balance of payments problems to help them rebuild their international reserves, stabilize their currencies, continue paying for imports, and restore conditions for strong economic growth, while correcting underlying problems.

20. Capacity Development The IMF works with governments around the world to modernize their economic policies and institutions, and train their people. This helps countries strengthen their economy, improve growth and create job

21. World Bank has 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnershi p.

22. World Bank Group Mission: To end extreme poverty: By reducing the share of the global population that lives in extreme poverty to 3 percent by 2030. To promote shared prosperity: By increasing the incomes of the poorest 40 percent of people in every country.

23. Five Institutions,One Group: 1.IBRD The International Bank for Reconstruction and Development 2.IDA The International Development Association 3.IFC The International Finance Corporatio

24. Five Institutions,One Group: 4.MIGA The Multilateral Investment Guarantee Agency 5.ICSID The International Centre for Settlement of Investment Disputes

25. David Malpass -part of his speech, 75 th anniversary of Bretton Woods Improve living conditions, drive growth, raise median incomes, create jobs, fully incorporate women and young people into economies, address environmental and climate challenges, support a stronger and more stable economy.