8h 15min, dec 19, 2019 y - Math Class
Description:
Economic Globalization
During math class I use BiC mechanical pencils, and a Staedtler eraser. Both of these products were developed by European companies.
BiC stationary products are manufactured in five continents, making up 14 out of the 26 factories. BiC is a French company that has branched out into other countries showing the need for interdependence in order to be successful. In economic globalization the national market places all blend into one global market which is shown by the varying locations of factories, and availability of products all over the world.
Similarly, Staedtler is a German company with 9 factories. The products are manufactured in Japan, and Germany. By expanding their production sites they are contributing to globalization as this product is no longer confined to one country.
When importing both of these products into Canada they will face a 6.5% tariff rate, which is the standard duty. This shows that this product is not discouraged from entering the country. Overall both of these companies have been part of economic globalization, since they rely on labor from multiple countries, and consumption by people around the world.
Added to timeline:
Factors of globalization timeline
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