Tuesday, May 5, 2015
Globalization and Key Vocabulary
In class today, we saw globalization with shoes. We saw international trade because the shoes came from places all over the world to Colombia and bought by the students. As shown in the chart the most common places where the shoes came from are Indonesia and China. This is because of effective labor. It is cheaper to afford labor in these countries than it is in the United States or even in Colombia. In these countries it is also cheaper to produce shoes because of the natural resources found in that country so they don't have to import so many materials. All of these are examples of international market because it shows the amount of products one country can provide to another.