Module 4: The Economics of Globalization
Module 4 Lessons and Assignments.Â
Economic and political barriers
What economic and political barriers exist?
Canadians generally describe their ways of life as prosperous. This prosperity is strongly tied to the economic prosperity enjoyed because of Canada’s ability to participate in the international economy. Are there barriers placed on less-developed countries that would benefit from the opportunities of economic globalization?
Over the decades, media has captured scenes of protests against globalization, international trade organizations, and meetings of the most powerful economies of the world. Organizers of the World Trade Organization and the G8 meetings defend these organizations and conferences as key to addressing global issues, and they often focus on gathering international support for least developed countries. Why are there protests?

World Trade Organization: an international organization of 152 members that works to improve trade relations between its members and to remove tariffs and trade barriers; formerly the General Agreement on Tariffs and Trade page 229 has more info as well. G8 (Group of 8): a group of eight highly industrialized and democratic nations that agree to regularly meet and discuss economic and foreign policies. Check out page 231. |
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Internet
This is a required activity to support the Explore but will not be graded.
Go to the Internet to examine Protest G8 – 2007, a viral video independently produced as a call for a protest at the June 2007 meeting of the G8. It presents contrasting images of quality of life and industrialization.
A key criticism by protesters is the political barrier created by the monopoly of decision making by a handful of economically powerful countries and multinational corporations. In the view of many protesters, international trade agreements and organizations are exclusive. They bar small businesses and least developing countries from participating in meaningful ways to benefit from the opportunities of economic globalization.
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There are economic barriers that a country may face such as a lack of financial capacity to create industries, a skilled work force, and the infrastructure for production.
There may be technological barriers such as access to technology and the Digital Divide.
Digital Divide:Â refers to the gap between citizens of countries in the access to digital and information technologies
This gap may be a factor in the country’s ability to participate in the global economy.
Reflection
Complete this activity. Political, Economic, and Technological Barriers
To improve the prosperity of its citizens, least developed countries must be able to realize the opportunities of economic globalization. Based on the briefings, to what extent do barriers continue to prevent these countries from fully participating in the global economy?