Padlet: Output on Economic Globalization by MIGUEL GABRIEL BELARMINO https://padlet.com/bmc0860/jg4cz9ivqp9odza1 Made with the strength to succeed en-us 2021-10-23 20:06:23 UTC 2021-10-23 22:46:57 UTC hello@padlet.com Barter System bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838421130 A trading system where two people agree on what goods and service they would exchange]]> 2021-10-23 20:32:17 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838421130 Coins bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838428731 Coins are created. The coins have been used for commerce and trade since then.]]> 2021-10-23 20:41:07 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838428731 Paper Money bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838430461 In order to counter or to circumvent issues where travelling merchants would not get slowed down by heavy metal coins, someone would record the value of the money in a piece of paper, and then can be redeemed later for coins.]]> 2021-10-23 20:43:08 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838430461 Silk Roads bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838432723 These were a network of trade routes connecting China and the Far East with the Middle East and Europe for commerce and trade. These opened up international trade.]]> 2021-10-23 20:45:57 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838432723 Spice Routes bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838434816 Spices where the main focus of Islamic trade. Spices were in high demand in Europe, where Portugal dominated the route, even as though these were regarded as a luxury.]]> 2021-10-23 20:48:27 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838434816 Fiat Money bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838439002 These were a government-issued currency that is not backed by a commodity such as gold. The government says that it is legal tender, and the public has enough trust to serve as a medium in purchasing.]]> 2021-10-23 20:53:31 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838439002 Globalization in the 19th Century bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838443195 With the innovations of the British Empire, the Industrial Revolution was dubbed due to their creation of steamships and trains that can transport goods for a long distance. While Britain was mostly benefited, other countries benefited too through exporting their goods, and specializing their production to the fields there were most competitive]]> 2021-10-23 20:58:45 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838443195 World War bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838445825 In 1914, the life of people have turned topsy due to the damage it dealt to civilians and soldiers. Trade was replaced with war, and countries began closing their borders to other countries once again.]]> 2021-10-23 21:01:45 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838445825 The Great Depression bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838447359 It is still considered as the worst economic downturn in the history books. It lasted a whole decade from the stock market crash of 1929. Millions of people were jobless, and the end of the "boom" in other countries.]]> 2021-10-23 21:03:38 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838447359 World War 2 bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838450252 As another World War has begun, countries were moving on from creating something for the purpose of improving their own but to create something that could destroy. Trade between countries was then decreased due to this.]]> 2021-10-23 21:07:08 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838450252 Post World War 2 bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838453264 The end of World War 2, with the help of the United States of America and their technology, global trade opened up again.]]> 2021-10-23 21:10:24 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838453264 Diners Club card bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838454974 The advent of plastic money. An American businessman Frank McNamara invented it. Credit cards were made to create paperless transactions that would be seen be used nowadays.]]> 2021-10-23 21:12:31 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838454974 The Fall of the Berlin Wall bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838471028 The wall dividing East and West Germany fell, the travel restrictions were lifted, the change from a planned economy to a free market, and the start of the fall of the Soviet Union]]> 2021-10-23 21:32:46 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838471028 The Collapse of the Soviet Union bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838475328 The collapse saw their expansion to the world market, their trade relations, and working to create a free-trade zone in Russia.]]> 2021-10-23 21:38:48 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838475328 Internet bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838477565 The internet connected people all over the world in an even more direct way. People could call to different places easily in comparison to telephones. This also allowed outsourcing, where one could do Research and Development in one country, sourcing in another country, production in a different one, and to distribute all over the world.]]> 2021-10-23 21:41:38 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838477565 Internet (dot com bubble in the United States) bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838484155 Due to computers and a little later on, the internet went on to be commercially available, it resulted into more people using the internet. In the United States, it resulted in a "dot-com bubble" where there was a stock market bubble caused by excessive speculation of Internet-related companies in the 1990s due to the massive growth of use and adoption of the internet.]]> 2021-10-23 21:50:34 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838484155 America bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838486236 Christopher Columbus, an Italian explorer opened the way for the widespread European exploration and found precious goods in America. This laid the foundation of cross- Atlantic trade.]]> 2021-10-23 21:53:23 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838486236 Cryptocurrency, Bitcoin bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838490610 The creation of digital currencies or cryptocurrencies has led to the new age of digital economy. Bitcoin was created in 2009 where it can circumvent some problems and to enable more international transactions and to eliminate middlemen in transactions.]]> 2021-10-23 21:59:30 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838490610 Digital Goods and Services bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838493495 The new frontier of globalization, the cyber world. Now, transactions can be done online, digital services and e-commerce, and the creation of Artificial Intelligence further pushes the idea as being the new wave of globalization. Although, the negative effects like pollution and cutting of forests have affected the world's biodiversity, as the ability to cope with hazardous greenhouse gasses is reduced by the day this continues.]]> 2021-10-23 22:03:38 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838493495 US-China Trade War bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838498925 The then U.S. president Donald Trump imposed tariffs on China, where they are restricted on accessing high-tech U.S. products and foreign investments due to concerns about security and unfair commercial practices. China believes that the US is trying to restrict their rise as a global power. This has created a negative impact on the United States as of now.]]> 2021-10-23 22:11:32 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838498925 In your own words, describe the concept of neoliberalism. bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838502557 Neoliberalism is to create a free market for the people and a government-free one at that, restricting them from intervening. ]]> 2021-10-23 22:16:38 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838502557 Explain how neoliberalism justifies the prevailing form of economic globalization. bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838505983 Neoliberalism as an ideology is the system of thoughts that
seeks to legitimize or justify the prevailing form of economic
globalization. 

It is the system of ideas that keeps the fire of
economic globalization alive because from the perspective of neoliberalism, it is justified because it is the right economic policy the world should adopt.
]]> 2021-10-23 22:21:37 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838505983 Explain why economic globalization according to Joseph Stiglitz is a failure. bmc0860 https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838509418 The other countries needs to have resources to create their own specializations. This is where the power imbalance comes as said countries cannot respond to opportunities, and then causing possible unemployment. Developed countries reap the benefits and thinks of their own economy and quotas, while developing countries cannot reach that due to lack of resources.]]> 2021-10-23 22:27:06 UTC https://padlet.com/bmc0860/jg4cz9ivqp9odza1/wish/1838509418