Published on November 25, 2008
2.5 Staying Connected: Global Groupings: 2.5 Staying Connected: Global Groupings By the end of this unit most students should be able to: understand that world trade is dominated by North America, Europe, and East Asia explain how India and China are becoming major economic forces identify the similarities and differences between different trading blocs give five examples of other organisations which promote trade, and say what they do draw a diagram to show how different organisations and groups affect the economic fate of the rice farmer in this unit Describe the patterns you can see: Describe the patterns you can see Patterns: Patterns N. America, Europe and East Asia generate 85% of world manufacturing output and 81% of exports Eas Asia has increased its share the most since 1980 “Chindia” is the new powerhouse on the block with rapidly developing economies. India concentrates on design and innovation China has got large manufacturing units with low wages. Trading Blocs: Trading Blocs These are countries which trade with one another to improve their economic interests and trade patterns. Name some trading blocs that you know of? They are designed to promote trade between countries but some also create barriers to outsiders by placing tariffs and quotas. What are tariffs and quotas? They also act to pressurise some of the other countries to open up to their products however! http://www.youtube.com/watch?v=9mgPEP8HAss&feature=related http://www.maketradefair.com/en/index.php?file=issues_dumping.htm&cat=2&subcat=3&select=1# – summarise these. Who are the other players in World Trade?: Who are the other players in World Trade? WTO – a major player trying to promote free trade. What criticisms are there of it. OECD OPEC G8+5 G20 World Bank IMF – What role does this have in the direction that poor countries go… To summarise: To summarise What effect might some of these different groups and blocs have on Mamadou or any other African farmer you have seen. Draw a spider diagram to explain.