To some, the term "globalization" means ruthless exploitation by corporations; to others, it means bringing economic development to all the peoples of the world. This program explains key principles at the core of global economics and takes a historical look at their effects, focusing on market liberalization and the failed "East Asian miracle"; privatization of basic resources in Bolivia and the severe backlash against it; Russia's rapid transition to capitalism and the oligarchism and kleptocracy that came to characterize it; and China's incremental implementation of capitalism under communism. The video also takes stock of the seismic shift in the U.S. economy and its probable effect on the rest of the world.

Encoded with permission for digital streaming by Infobase on Nov. 17, 2009. Learn360 is distributed by Infobase for Films for the Humanities & Sciences, Cambridge Educational, Meridian Education, and Shopware.

Political Barometer in Latin America (1:42) -- Many Faces of Globalization (1:22) -- Free Trade (0:42) -- Financial Globalization (1:04) -- Near Liberal Policies (1:26) -- East Asian Miracle (1:26) -- Asian Financial Crisis (1:53) -- International Monetary Fund (IMF) (0:57) -- Russia (1:57) -- Russia's Recovery (1:48) -- World Bank in Bolivia (3:27) -- China: Slow Reform (3:41) -- US Economy: Financial Crisis (4:37).