9.4

Economics in the Global Age

AP World History: Modern

The evolution of the global economy

From colonialism to globalization

The Bretton Woods system (1944-1971)

Free trade and economic integration

The expansion of free trade

Arguments for and against free trade

Multinational corporations and global supply chains

The rise of multinational corporations (MNCs)

Global supply chains

A Foxconn factory in China where electronics are assembled
Caption: A Foxconn factory in Shenzhen, China. Global supply chains concentrate manufacturing in countries with lower labor costs, raising questions about working conditions, wages, and the distribution of profits across the global economy.

Economic development and inequality

Winners and losers of globalization

Measuring inequality

The debt crisis and structural adjustment

Labor in the global economy

The changing nature of work

Labor exploitation and resistance

Financial globalization

The integration of global finance

Financial crises in a global economy

China's economic rise

The most dramatic economic transformation in history

Primary sources

Deng Xiaoping on economic reform (1984)

Joseph Stiglitz, Globalization and Its Discontents (2002)

World Bank, "East Asia: Recovery and Beyond" (2000)

Key figures

Key events summary

Vocabulary