China’s economic status continues to increase, and their economy is seeing great improvements that are facing a consistent patterns. It has been said that the Chinese economy could overtake the U.S. economy is nearly 30 years.

Though China and India are facing much success in their multinational corporations, they are affecting the environment in many ways (air pollution, global warming, etc.). This is important because acknowledging the impact their mass production is having on the environment is necessary to understand because there needs to be a balance between the two.

Due to America’s economy experiencing a rough patch, areas all over the world were affected because the trade between nations had started to decrease. This led to the U.S. creating an emergency crisis program to help restore the financial industries.

The Euro, established by the European Union (EU), is an attempt by the EU to establish a common currency.  As of 2023 it is currently used by 20 countries in the EU. This is important for us to know because it helps to establish the idea that people/organizations are currently pursuing widespread  globalization with things like currency.

The World Bank and the IMF(International Money Fund) have been questioned for supposedly pressuring Non-Western nations to adopt Western economic processes. This is important information because it lets people know that not all actions made by these international organizations are supported by all countries over the world.

The International Monetary Fund (IMF) is set to expand markets all around the globe and to dodge possible economic crises. This is important due to the fact that the IMF watched economical data from the world to assist the 190 countries that it supports, which gives the fund critical information from countries on Earth.

The Treaty of the European Union was meant to attempt a way to create a true economic monetary union of all EC members. This is important to know because it allowed the EC to create the Euro, which ultimately replaced the currencies of 16 European countries and also allowed the European Union to provide subsidies to farmers to enable them to sell their goods competitively on the world market.

The Mexican president, U.S. president, and Canadian Prime Minister all worked together to form a free trade agreement in North America. This is valuable information because Economists believe that it has been beneficial to business owners yet harmful to others and many industrial workers in the U.S. lost jobs when American companies outsourced jobs to Mexico for the use of cheap labor

The Global Economy began to experience worldwide financial troubles in 2007, which caused a number of insurance and mortgage companies, investment firms, and banks became bankrupt. This is important because it led to the crash of the United States housing market in 2008, resulting in a worldwide recession.

There are many critics of globalization who say that large corporations are treating and paying their workers poorly along with saying ignoring problems with the environment. This is important to note because while there are many overall benefits of globalization, small things such as the way workers who are working for these multinational corporations are treated often go ignored when considering the pros of globalization.