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BLOCK 4 > Contemporary World > Flashcards

Contemporary World Flashcards

1
Q

the changes in societies and the world economy that the result of increased trade and cultural exchange.

A

Globalization

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2
Q

Sign of globalization

A
  • International agreements like WTO & OPEC
    • increase in international trade
    • increase in international flow of capital
    • greater transborder data flow in technology
    • greater international travel and tourism
    • greater international cultural exchange ex. Hollywood
    • Development of global telecommunications infrastructure
    • Development of global financial system
    • terrorism
    • spreading multicultural
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3
Q

activist were constricting the freedoms of individuals

A

Anti-globalization

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4
Q

Supporters of free trade, specifically leads to lower prices and more employments

A

Pro - globalization

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5
Q

The Philippines joined WTO in 1995
- Filipino and foreign companies has emerged in the nation in order to help the country’s developing economy.

A

-Globalization in the Philippines

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6
Q

ADVANTAGE OF GLOBALIZATION

A

Peaceful Relation
Employment
Education
Product Quality
Cheaper Price
Communication
Transportation
GDP increase
Free Trade
Travel and Tourism
External borrowing

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7
Q

building a relationship with other country

A

Peaceful Relation

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8
Q

Companies are moving towards the developing countries to
acquire labor force.

A

Employment

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9
Q

for better opportunities

A

Education

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10
Q

Enhanced product quality to retain costumers

A

Product Quality

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11
Q

brought competition to the market

A

Cheaper Price

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12
Q

internet connects and provide us information

A

Communication

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13
Q

transportation vehicle or delivery vehicle that imports & export

A

Transportation

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14
Q

money value that produce from domestic territory

A

GDP increase (gross domestic product)

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15
Q

no import/export taxes, to lower the price cost

A

Free Trade

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16
Q

to attracts tourist to the country

A

Travel and Tourism

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17
Q

corporate’s borrower will have a better access in loans etc

A

External borrowing

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18
Q

DISAVANTAGES OF GLOBALIZATION

A

Health Issues
Loss of Culture
Uneven wealth Distribution
Environmental Degradation
Disparity
Conflict
Cut-throat competition

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19
Q

rises the health risk and epidemics like HIV/AIDS

A

Health Issues

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20
Q

tend to adapt other countries culture and forgetting our own

A

Loss of Culture

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21
Q

not able to reduce poverty

A

Uneven wealth Distribution

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22
Q

industrial revolution in which they using the natural resources

A

Environmental Degradation

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23
Q

factories moved to another country where cheaper labor

A

Disparity

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24
Q

terrorism and violence like ISIS

A

Conflict

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25
Q

intense competition among countries where other don’t have the potential to export

A

Cut-throat competition

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26
Q

THE (3) COMPONENTS OF GLOBALIZATION

A

-ECONOMIC GLOBALIZATION
-CULTURAL / SOCIAL GLOBALIZATION
-POLITICAL GLOBALIZATION

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27
Q

e** G

It refers to the widespread of international movements of goods, capital, services, technology and information.

A

ECONOMIC GLOBALIZATION

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28
Q

These (9) primarily comprises the economic globalization

PFMORCLTI

A
  1. Production
  2. Finance
  3. Markets
  4. Organizational
  5. Regimes
  6. Corporations
  7. Labor
  8. Technology
  9. Institutions
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29
Q

INSTITUTION OF GLOBALIZATION

A

-WORLD BANK
-INTERNATIONAL MONETARY FUND (IMF)
-WORLD TRADE ORGANIZATION (WTO)

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30
Q

also called International Bank for Reconstruction and Development (IBRD)
Increases in economic growth and decreases poverty in developing countries

A

THE WORLD BANK

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31
Q

IBRD

A

International Bank for Reconstruction and Development

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32
Q

An international organization dedicated to providing financing, advice and research to developing nations to aid their economic advancement.

A

THE WORLD BANK

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33
Q

Why WORLD BANK came into existence?

A

To fund reconstruction efforts to countries has been destroyed.

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34
Q

What was the first “Multilateral Development Bank. “Before World War II had ended

A

The International Bank for Reconstruction and Development

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35
Q

Who are the two conceptualized an international institution to stabilize exchange rates and provide a source of financing for reconstruction and development among countries ravaged by the war.

A

Harry Dexter White and John Maynard Keynes

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36
Q

The world bank quote

A

“Working for a World Free of Poverty”

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37
Q

-To provide loans, long-run capital to member countries for economic reconstruction and development and to assuring Balance of Payments (BOP) equilibrium

A

OBJECTIVES OF THE WORLD BANK

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38
Q

➤Granting reconstruction loans to war devastated countries.
➤Granting developmental loans to underdeveloped countries.
➤Providing loans to governments for agriculture, irrigation, power, transport, water supply, educations, health, etc

A

FUNCTION OF THE WORLD BANK

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39
Q

WORLD BANK’S TOP BORROWERS
© 2017 The World Bank Group

A
  1. PERU
  2. INDIA
  3. CHINA
  4. INDONESIA
  5. UKRAINE
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40
Q

What top are the philippines in terms of barrowers?

A

Top 13

41
Q

General Agreement on Tariffs and Trade (GATT) is also known as?

A

WORLD TRADE ORGANIZATION (WTO)

42
Q

Deals with the rules of trade between nations, settles trades disputes and conduct straight negotiations

A

WORLD TRADE ORGANIZATION (WTO)

43
Q

1.to set and enforce rules for international trade,
2.to provide a forum for negotiating and monitoring further tradeliberalization,
3.to resolve trade disputes,
4.to increase the transparency of decision-making processes,
5.to cooperate with other major international economic institutions involved in global economic management, and
6.to help developing countries benefit fully from the global trading system.

A

The six key objectives of WTO

44
Q

organization of 189 countries, working to foster globalmonetarycooperation, secure financial stability, facilitateinternationaltrade, promote high employment and sustainable economic growth, and reduce poverty around the world.

A

INTERNATIONAL MONETARY FUND (IMF)

45
Q

TheIMF’smain goal is to ensure the?

A

the stability of theinternational monetaryand financial system.

46
Q

refers to the transmission of ideas, meanings, and values and cultural products across around the world in such a way to extend and intensify social relations

A

CULTURAL GLOBALIZATION

47
Q

This process is marked by the common consumption of mono-cultures that have been diffused by the internet, popular culture media, and international travel, entertainment transnational marketing of particular brands and international tourism – that transcends local cultural traditions and lifestyles, and that shapes the perceptions, aspirations, tastes and everyday activities of people wherever they may live in the world.

A

CULTURAL GLOBALIZATION

48
Q

ASPECTS OF CULTURAL GLOBALIZATION

A

1.MIGRATION
2.THE GLOBALIZATION OF FOOD
3. THE GLOBALIZATION OF SPORT

49
Q

This is an important aspect of cultural globalization and This process has been going on for several centuries, with languages, religious beliefs, and values being spread by military conquest, missionary work, and trade.

A

MIGRATION

50
Q

The spread of these GLOBAL FOOD corporations has arguably led to the decline of local diets and eating traditions

A

THE GLOBALIZATION OF FOOD

51
Q
A
52
Q

most notably the World Cup and The Olympics, which bind millions together in a shared, truly global, leisure experience.

A

THE GLOBALIZATION OF SPORT

53
Q

It refers to the growth of the worldwide political system that includes:
1. National governments
2. Their governments
3. Intergovernmental organizations
4. Government-independent of elements of global civil society

A

POLITICAL GLOBALIZATION

54
Q

The creation and existence of the United Nations (UN) has been called one of the classic examples of

A

Political globalization

55
Q

To maintain international peace and security and Promoting human right and global development

A

UNITED NATIONS AND ITS ROLE IN GLOBALIZATION

56
Q

When was the international organization created?

A

October 24,1945

57
Q

How many member does the United Nation (UN) have?

A

193 sovereign states

58
Q

the world’s largest intergovernmental organization which is based in New York (Headquarter)

A

The United Nations (UN)

59
Q

The free movement of goods, capital, services, technology, and information?

A

GLOBAL ECONOMY

60
Q

APEC

A

Asia-Pacific Economic Cooperation

61
Q

ASEAN

A

Association of Southeast Asian Nations

62
Q

The economy of the Philippines is the world’s___largest economy by nominal GDP according to the 2017 estimate of the International Monetary Fund’s statistics,

A

34th

63
Q

6th richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia

A

The Philippines

64
Q

primarily considered a newly industrialized country, which has an economy in transition from one based on agriculture to one based more on services and manufacturing.

123

A

PHILIPPINES: NEW INDUSTRIALIZED COUNTRY

65
Q

Branches of Global Economy

A

Production
Finance
Markets
Regimes
Corporation
Labor
Technology

66
Q

(Off-shoring- the work done overseas)
(Outsourcing- SOMEONE else does the work for us)

A

Globalization of Labor

67
Q

refers to the sourcing of goods and services from location around the globe to take advantage of national differences in the cost and quality of factors of production like land, labor and capital

A

Globalization of Production

68
Q

obtain(goods or a service) from an outside or foreign supplier, especially in place of an internal source

A

Outsourcing

69
Q

BPOs (Call Center Agencies)

A

Business Process Outsourcings

70
Q

Increase job opportunities
Upgrade education system and leads to more training
Increase labor standard
Increase labor productivity
Pressure firms to correct labor abuses

A

Effect of Globalization on Labor Conditions

71
Q

refers to the global exploitation of technologies through the patents (agovernmentauthorityor license conferring arightor title for a set period, especially the sole right to exclude others from making, using, or selling an invention) and licenses

A

Globalization of Technology

72
Q

refers to:
*The liberation of trade in financial assets
*It is the flow of capital and corporate investments between various countries
*World allocation of money leading to exchange of services and goods
*International Monetary Funds (IMF)
*World Bank

A

Financial Globalization

73
Q

It refers to a COMPANY or group of people authorized to act as a single entity and recognized as such law that operates globally or internationally

A

Globalization of Corporation

74
Q

(as mentioned by MICHAEL PORTER) refers to BUSINESS that maintains a strong headquarters in one country, but has investments in multiple foreign location.

A

Global business

75
Q

Coca Cola/ Pepsi/ Samsung/ Apple/ Nestle/ Lacoste/ Penguins/ Guess/ Nike/ Gap called as?

A

Multinational Company

76
Q

A standardized vs. adapted to the local tasters & customs.
The whole process of planning, producing, placing, and promoting a company’s product globally

A

Global marketing

77
Q

refers to the process of integrating and merging of the distinct markets into a single market

A

Globalization of Markets

78
Q

-The CONSUMERS have broader access to a wider variety of products and services than the neighborhood offers
-Greater vendor diversity leads to better buying opportunities and lower prices; e.g.. Comparison shopping via the internet
-Lost allegiance to domestic producers
-A more volatile labor market with stronger competition from the global labor supply

Impact

A

Impact of Globalization on Consumers

79
Q

They are chartered by more than one country, and they are subjects to international law
The owners or shareholders are generally national governments

A

International Financial Institutions (IFIs)

80
Q

When was the firs International Financial Institution (IFIs) established?

A

after the WWII

81
Q

refers to:
*Prices among different location or related goods follow the same patterns over a long period of time

A

Market Integration

82
Q

The time when labor market integration occurred in Asia extending from South India to Southeastern China and encompassing the three Southeast Asian countries of Burma, Malaya, and Thailand

A

Between 1882 and 1936

83
Q

The time when mass migration of Indians and Chinese to Southeast Asia gave rise to both integrated Asian labor market and period of real wages convergence (divergent trends in unskilled real wages)

A

Late 19th century

84
Q

The time when steamships had largely replaced sailing vessels for transport within Asia as well as to Western markets (shipping fares had begun to fall)

A

1880s

85
Q

The time when global migration movement/ European immigration.

A

Late 19th century (early 20th century)

86
Q
  • Multi-state political structure and
  • the international or global division of labor of the core, semi-periphery, and periphery countries
A

Global Interstate System

87
Q

Body of people politically organized under a government within a definite territory.

A

STATE

88
Q

A system that refers to existence of the division of labor

A

World System

89
Q

It deals with inter-regional and transnational division of labor, which divides the world into (3):

A

➤Core countries
➤Semi-periphery countries
➤Periphery countries

90
Q

is a multidisciplinary, macro-scale approach to the world history and social change which emphasizes the world-system as the primary unit of social analysis

A

World System Theory

91
Q

a WORLD with a system has a multi-state political structure (interstate system). Thus, the division of labor are considered international/ global division of labor

A

Modern world

92
Q
  • Low Skills
  • Labor Intensive Production
  • Extraction of Raw Materials
A

SEMI-PERIPHERY/ PERIPHERY COUNTRIES

93
Q
  • Higher Skills
  • Capital Intensive Production
A

CORE COUNTRIES

94
Q

World Governance Movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region

CGG

A

Contemporary Global Governance

95
Q

Institution of Global Governance

A
  • United Nations
  • International Criminal Court
  • World Bank
96
Q

the function is to maintain peace and security for all of its member-states.

A

Functions of United Nations

97
Q

Climate Change, Poverty, Violent Conflict, Intolerance, and Extremism present direct threats to the unity and well-being are the challenges of?

A

Challenges of Global Government in the 21st Century

98
Q

refers to the increasing importance of INTERNATIONAL trade, INTERNATIONAL relations, treaties, alliances and others

A

Internalization

BLOCK 4 (45 decks)

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