contem Flashcards
development of worldwide production market. movement of material and goods between and within national boundaries
Industrial Globalization
development of worldwide financial market
Financial Globalization
freedom exchange goods and capital
Economic Globalization
creation of international organizations to regulate the relationship among governments
Political Globalization
sharing of ideas, attitudes and values
Cultural Globalization
increase of information glows between geographically remote locations
Informational Globalization
linking up with local dealers and distributors
first stage
the company/institutions takes over these activities on its own
second stage
begins to carry out its own manufacturing marketing and sales in key foreign markets
third stage
the company/institution moves to a full insider position in these markets
fourth stage
the company/institution serves local customer in markets
fifth stage
historical process representing the result of human innovation and technological progress
Economic Globalization
oldest known international trade route
silk road
establishment of galleon trade that connected to manila and acapulco
1571
system of global trade with multiple restrictions
Mercantilism
an open trade system emerged
1867
worst and longest recession ever experienced by the western world
Great Depression
currencies that are not backed up by precious metals
Fiat currencies
known as the modern capitalist world economy
The modern world system
areas that dominate the capitalist world economy and exploit the rest of the system
core
it is a residual category that encompass a set of regions and somewhere between exploiting and exploited
semi-periphery
relied on coercive labor practices and lacked strong central governments
periphery
established after world war II
Bretton Woods System
a small tourist spot in the mountain of new Hampshire, USA
Bretton Woods
