Global Independence
Published on Nov 20, 2015
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PRESENTATION OUTLINE
what is global interdependence?
World-wide, mutual dependence. Perceived as each country depending on, and depended on other countries. Comes from the importing and exporting of goods and services.
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Has been the source that highly contributes to global interdependence. Oil is an example of those countries who generate it having created a global interdependence with those other countries that need it, that depend heavily on it.
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Banking: Industrialized nations make loans to developing nations to help with modernization efforts. As the world economy slowed in the 1980s, many of these nations were unable to keep up with the loan payments. The International Monetary Fund negotiated deals between these countries for repayment. In exchange for lower interest rates, many developing nations were forced to accept free market principles.
Economic Interdependence
The world's economy is linked closely together. Changes in one region of the world now affect all others.
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The Global South consists of developing nations in Asia, Africa, and South America, many of which were former colonies during European Imperialism. The interdependence between the Global North and South is the primary focus of today's economy.
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Economic Independence
Oil: The fluctuation of oil prices have a major impact on the world. While high prices may benefit oil producing countries such as those in the Middle East, they cause inflation in industrialized countries that are dependent on that oil. This also translate to high prices on goods sold to non-industrialized countries.
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Financial Markets: The world's financial markets have also become interdependent. Fluctuations in one market are reflected in another. A prime example of this are the problems many western markets faced when the Asian markets took a downturn in the 1990s.
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Regional Cooperation: Many nations have linked their economies officially by joining cooperatives or through treaties. The European Union is an example of a group of nations working to unify economically. The EU has worked for years to lower tariffs and institute free trade among its member nations. Recently, many of its nations switched to a single currency, the Euro. The North American Free Trade Agreement (NAFTA) is another example of nations attempting to lower trade barriers and link their economies.
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Environmental Interdependence
The rise of industrialization has caused numerous problems with the environment. warming as a result of the depleted ozone layer, and deforestation in developing nations wishing to increase their agricultural output and to profit from lumber sales. These problems pose a threat to all nations, and as a result, many nations are working together to solve these problems. The challenge is protecting the environment without destroying the fragile economies of the developing nations.
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