A.
Read the following selections from the Margin Notes by clicking on each
link.
B.
Watch these presentations. When you click on one of the links below,
a new screen will pop up. Use the scrollbar on the side of the new screen to
navigate.
You need Adobe Reader to view PDF files.
C.
(Optional) Read the following chapters from the textbook.
Chapters 11 - 15
D.
The following Optional Links will help you do better in your course
but they are not required.
E.
Activity #4: Analyzing Globalization (10 points)
For Activity #4, we're going to watch
a documentary about the new China economy.
Preparation
Go to Wide Angle's video,
To Have and Have Not. On that page read the paragraph titled About
The Film. From the Inside this Episode menu on the upper right, choose
the following links.
Introduction (the first page)
Essay: China’s WTO Guinea Pigs: Will
They Bring Political Change?
Sizing Up China’s Economy
Debate: What the WTO Means for China
The World Trade Organization (WTO) is an institution
dealing with rules of trade between nations. Its goal is to “ensure that trade
flows as smoothly, predictably and freely as possible. [The] result is a more
prosperous, peaceful and accountable economic world” (WTO website). This result,
however, is not universally acknowledged, as evidenced by the growing number
of movements against the WTO and globalization, the increasing integration of
the world economy. While advocates claim that globalization can bring prosperity
to impoverished countries, opponents say it will exacerbate poverty, inequality
and environmental degradation.
China became a member of the WTO in December 2001.
While the long-term effects of China’s entry into the global market are yet
to be determined, some fear that liberalized trade policies and a greater involvement
in the global economy will create more poverty and put much of China’s population
at a disadvantage. Continue to choose the links until you've read through all
4 pages listed above. Then, from the Inside this Episode menu on the
upper right, choose the Additional Web Resources link. That page has
a number of links to fascinating background information on the issue. You're
not required to read everything linked on that page but I wanted you to know
what's there. The information is interesting and the more you know about the
issues, the better.
Video
From the Inside this Episode menu on the upper right, choose the Video:
Full Episode link. To watch the documentary, you can use Windows Media or
Real Player. If you don't have either, you can download one for free by clicking
on one of the links at the bottom of the Unit 1 page. The full documentary
is just under 60 minutes in length, divided into 7 parts. Access the parts by
clicking on the picture or title for each. You should be able to watch the documentary
on any but the oldest and slowest computers ... although the slower your internet
connection, the longer it will take your computer to load the video. Be patient!
Player controls allow you to start, pause, adjust the volume and screen size,
etc.
As you watch the video, consider the following questions. (Do NOT send me the
answers to these ... they're only to help you stay focused while you're watching.)
What is the World Trade Organization (WTO)?
Who gains and who loses from globalization?
Why do some say the entry of developing countries
into the WTO is hurting those countries?
Why do some say the entry of developing countries
into the WTO is empowering those countries?
What are the downsides of globalization and
entry into the WTO for poorer countries?
Has China benefited from the globalization
of the world economy? Why or why not? Has it benefited from its entry into
the WTO?
What are the downsides of globalization and
entry into the WTO for a country like China?
How are the WTO and globalization related?
What types of industries and which sections
of society in developing countries are most negatively affected by globalization?
Are there ways to address the downsides of
globalization and the WTO and still allow for free trade?
What are the beliefs and arguments of those
who are anti-globalization?
Critical Thinking
Free-market economist
David Ricardo (1772-1823) set forth the theory of comparative advantage.
Using his famous example of two nations (Portugal and England) and two commodities
(wine and cloth), Ricardo argued that trade would be beneficial even if Portugal
held an absolute cost advantage over England in both commodities.
Ricardo's argument was that there are gains from trade if each nation specializes
completely in the production of the good in which it has a comparative
cost advantage in producing, and then trades with the other nation for the other
good. According to the theory of comparative advantage, free trade should work
to the benefit of all. Yet there seems to be evidence that free trade is
not good for all. What's wrong with this picture?
-
After you've covered the assignment material,
I'd like you to send me an essay that answers the question
In the long run, is globalization good for
everyone? Your answer to that question may be as long or
as brief as you want but it must pass two tests.
-
First, your answer must exhibit an understanding
of economic concepts. Make specific and detailed connections to course
content.
-
Second, your answer must reflect the
information given in the assignment, both from the video & readings
and from the information on David Ricardo. Use what you learned from
the assignment to make your case. Too, while I welcome you to include
your opinions as part of your comments, those opinions must have some
basis in fact. This is the time to demonstrate some critical thinking!
-
Please be careful to use correct spelling
& grammar.
