Globalization,What is Globalization?,Globalization refers to the shift toward a more integrated and interdependent world economy. Globalization has several facets, including the globalization of maekets and the globalization of production, Please read paragraph 2 in page 4 ,which is a case about globalization in our daily life.,The forms of globalization,The globalization of markets: it refers to the merging of historically distinct and separate national markets into one huge global market place. The globalization of production: it refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost anf quality of factors of production. The emergence of global institutions.,The globalization of markets,1.The globalization of markets for consumer products. 2. The globalization of markets for industrial goods and materials. (1) commodities such as raw materials. (2) industrial products such as microprocessors. (3) the markets for computer software. 3. The globalization of markets for financial assets. Please read paragraph 2 in page 6 ,which is a case about globalization of markets.,The globalization of production,The election of the producation location: 1. near the soucing location; 2. near the market location; 3. near the location where there are more favorable policies. 4. near the location which is with convenient transportation. Please read paragraph 4 in page 7,which is a case about globalization of production.,The emergence of global institutions,1.GATT(General Agreement on Tariffs and Trade) 2. WTO(World Trade Organization) 3. IMF(International Monetary Fund) 4. World Bank 5. UN(United States),