chapter 23 section 4 an interdependent world. globalism the idea that the world is becoming more...
TRANSCRIPT
Chapter 23 Section 4
An Interdependent World
Globalism • The idea that the world is
becoming more linked and interdependent is called globalism.
• Americans who support international trade believe it helps U.S. businesses sell goods abroad.
• They also think importing low-cost goods keeps inflation and interest rates low.
• Opponents of a global economy warned that participation by the United States would cause manufacturing jobs to move to nations where wages were low.
NAFTA
• One means of increasing international trade was to create regional trade pacts.
• In the 1990s, trade pacts increased international trade.
• The North American Free Trade Agreement (NAFTA) joined Canada, the United States, and Mexico in a free-trade zone.
European Union (EU)
• In 1993 the European Union (EU) was created to promote economic and political cooperation among the many European nations.
• The EU set up the euro, common money used by member nations.
APEC
• The Asia Pacific Economic Cooperation (APEC) set up a Pacific trade community.
WTO• The World Trade Organization
(WTO) promoted world trade and involves some 120 countries.
• It helped form trade agreements and settled trade disputes.
• American supporters of the WTO cited benefits for U.S. consumers, including cheaper imports, new markets, and copyright protection for the American entertainment industry.
China and U.S. Market
• China, with its huge population, offered vast potential as a market for American goods and today China plays a big part in world trade.
• In 2000 a U.S. bill gave China permanent normal trade relation status, despite union concerns that inexpensive Chinese goods would flood the U.S. market.
Environment
• The rise of a global economy also increased awareness of global environmental issues.
• In the 1980s, scientists found out that chemicals called chlorofluorocarbons (CFCs) could break down ozone in Earth’s atmosphere.
Ozone
• Ozone is a gas that protects life on Earth from the ultraviolet rays of the sun.
• CFCs were used in air conditioners and refrigerators.
• In the late 1980s, scientists found a large hole in the ozone layer above Antarctica.
• Many people wanted to stop the manufacture of CFCs.
Phasing out CFCs
• In 1987, 23 nations agreed to phase out the production of chlorofluorocarbons (CFCs) and other chemicals that could weaken the ozone layer.
Global Warming • In the early 1990s, scientists
found evidence of global warming.
• This is an increase in average world temperatures over time.
• This rise in temperature could lead to more droughts and other types of extreme weather.
• Many experts believe that carbon dioxide emissions from factories and power plants cause global warming.
Other side of global warming
• The global warming issue is controversial because the cost of controlling emissions would fall on industries.
• These costs would eventually be passed on to consumers.
• Developing nations that are beginning to industrialize would be hurt the most.
Kyoto Protocol
• In 1997 thirty-eight nations and the EU signed the Kyoto Protocol.
• The nations promised to reduce emissions, though very few nations put this into effect.
U.S. opposed to Kyoto Protocol
• President Clinton did not present the Kyoto Protocol to the Senate because most senators opposed it.
• In 2001 President George W. Bush withdrew the United States from the treaty. He believed that it had flaws.