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What comes next? Human Geography B Economics How were goods made: Pre-Industrial Revolution • Before the Industrial Revolution, goods were made by hand by one or a few people. The process was long and finished goods were expensive. How were goods made: Post-Industrial Revolution • After the Industrial Revolution, many goods were made in factories. The assembly line made it possible for people to produce more goods and they became less expensive. Today products are made all over the world. • Terms to know: Free trade - the flow of goods and services across borders, with little or no government control. Fair trade - goods produced by workers at a liveable or “fair” wage and in good working conditions. More terms to know: • Gross Domestic Product (GDP) - amount of goods and services produced in a nation during the year. • Multinational Corporation - a large company that has operations in more than one country. 10 Ten Multinational Corporations • • • • • • • • • • 1 Wal-Mart Stores 2 Exxon Mobil 3 Royal Dutch Shell 4 BP 5 Toyota Motor 6 Chevron 7 ING Group 8 Total 9 General Motors 10 ConocoPhillips Headquarters of Top 50 Multinational Corperations The Global Sneaker: Design • Most sneakers are designed in the United States, Germany, Japan, and Italy at company headquarters. Major companies: Nike (US), Adidas (Germany), Asics (Japan), Puma (Germany), Reebok (founded in UK, now in US), K*Swiss (Switzerland), Sketchers (US), New Balance (US), Converse (US), The Global Sneaker: Natural Resources • Today, different parts of a sneaker can come from multiple countries. • Fabric, Leather, Mesh, etc.: Leather from US or Venezuela sent to South Korea for processing. • Mid-sole, padding: Made from plastic or foam from oil from Saudi Arabia • Outer Sole: Made from rubber grown in tropical countries such as Brazil, Thailand, Malaysia, or Indonesia The Global Sneaker: Manufacturing • During the 1970’s, many manufacturing jobs went to South Korea. • Since the 1990’s, most production has shifted to China, Indonesia, and Vietnam. • Advantages? Large pools of low wage workers, ports for easy shipping. Is this a good thing? • Read page 4623 with your partner and make a list of advantages and disadvantages of globalization.