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Read moreCategory: Geography
workers in the global economy,”Workers in the global economy are oftendependent on circumstances outside oftheir control for their subsistence.Industries, such as tourism, can provide asource of income for locals, but it isdependent on global demand and thebalance sheets of multinationalcorporations.Similarly, workers in the United States areleft unemployed when factories relocateto places with lower labor costs.Finally, illegal migrant workers, who leavetheir homes to look for new jobopportunities in other countries
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Read moreethnic cleansing,”In the 1990s, after the end of the Cold War
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Read morefree trade,”refers to the unrestricted international exchange of goods, services
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Read moreWater,”Water is fast becoming the majorresource issue in the twenty-firstcentury. Water is crucial to the functionof almost all aspects of the economy.• Disputes over water are becominggeopolitical issues. In addition, becauseclean water has become a commodityrather than a free good, (as it wasbefore modern times), prices canincrease so much that the poor loseaccess to water, affecting health andsanitation.• Even though humans only need 5-13gallons of water per day for basic needs(including drinking, cooking, andbathing)
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Read moreWorld Trade Organization (WTO),”is a global institution made up of membercountries whose stated mission is the lowering of trade barriers and the establishment ofground rules for international trade.Two organizations related to free trade and the WTO are the World Bank (theInternational Bank for Reconstruction and Development) and the International MonetaryFund (IMF).• These organizations make loans to countries that need to pay for economic developmentor financial adjustment projects.• Before approving a loan, the IMF or World Bank may require the borrowing country toreduce certain tariffs and import quotas. These are part of structural adjustment policiesthat require austerity measures be taken, reducing or privatizing government services
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Read morevirtual water
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Read moreresistance to free trade and globalization,”Many people all over the world have opposed structural adjustment and freetrade policies
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Read morewater footprint,”is the water used to meet a person’s basic needs fora year
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Read moreliving wages,”Many multinational corporations often work with governments to prevent bargaining for this which is a a minimum scale of pay that supports healthy life.This is in the interest of MNCs
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