Contemporary World Flashcards
the changes in societies and the world economy that the result of increased trade and cultural exchange.
Globalization
Sign of globalization
- 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
activist were constricting the freedoms of individuals
Anti-globalization
Supporters of free trade, specifically leads to lower prices and more employments
Pro - globalization
The Philippines joined WTO in 1995
- Filipino and foreign companies has emerged in the nation in order to help the country’s developing economy.
-Globalization in the Philippines
ADVANTAGE OF GLOBALIZATION
Peaceful Relation
Employment
Education
Product Quality
Cheaper Price
Communication
Transportation
GDP increase
Free Trade
Travel and Tourism
External borrowing
building a relationship with other country
Peaceful Relation
Companies are moving towards the developing countries to
acquire labor force.
Employment
for better opportunities
Education
Enhanced product quality to retain costumers
Product Quality
brought competition to the market
Cheaper Price
internet connects and provide us information
Communication
transportation vehicle or delivery vehicle that imports & export
Transportation
money value that produce from domestic territory
GDP increase (gross domestic product)
no import/export taxes, to lower the price cost
Free Trade
to attracts tourist to the country
Travel and Tourism
corporate’s borrower will have a better access in loans etc
External borrowing
DISAVANTAGES OF GLOBALIZATION
Health Issues
Loss of Culture
Uneven wealth Distribution
Environmental Degradation
Disparity
Conflict
Cut-throat competition
rises the health risk and epidemics like HIV/AIDS
Health Issues
tend to adapt other countries culture and forgetting our own
Loss of Culture
not able to reduce poverty
Uneven wealth Distribution
industrial revolution in which they using the natural resources
Environmental Degradation
factories moved to another country where cheaper labor
Disparity
terrorism and violence like ISIS
Conflict
intense competition among countries where other don’t have the potential to export
Cut-throat competition
THE (3) COMPONENTS OF GLOBALIZATION
-ECONOMIC GLOBALIZATION
-CULTURAL / SOCIAL GLOBALIZATION
-POLITICAL GLOBALIZATION
e** G
It refers to the widespread of international movements of goods, capital, services, technology and information.
ECONOMIC GLOBALIZATION
These (9) primarily comprises the economic globalization
PFMORCLTI
- Production
- Finance
- Markets
- Organizational
- Regimes
- Corporations
- Labor
- Technology
- Institutions
INSTITUTION OF GLOBALIZATION
-WORLD BANK
-INTERNATIONAL MONETARY FUND (IMF)
-WORLD TRADE ORGANIZATION (WTO)
also called International Bank for Reconstruction and Development (IBRD)
Increases in economic growth and decreases poverty in developing countries
THE WORLD BANK
IBRD
International Bank for Reconstruction and Development
An international organization dedicated to providing financing, advice and research to developing nations to aid their economic advancement.
THE WORLD BANK
Why WORLD BANK came into existence?
To fund reconstruction efforts to countries has been destroyed.
What was the first “Multilateral Development Bank. “Before World War II had ended
The International Bank for Reconstruction and Development
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.
Harry Dexter White and John Maynard Keynes
The world bank quote
“Working for a World Free of Poverty”
-To provide loans, long-run capital to member countries for economic reconstruction and development and to assuring Balance of Payments (BOP) equilibrium
OBJECTIVES OF THE WORLD BANK
➤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
FUNCTION OF THE WORLD BANK
WORLD BANK’S TOP BORROWERS
© 2017 The World Bank Group
- PERU
- INDIA
- CHINA
- INDONESIA
- UKRAINE
What top are the philippines in terms of barrowers?
Top 13
General Agreement on Tariffs and Trade (GATT) is also known as?
WORLD TRADE ORGANIZATION (WTO)
Deals with the rules of trade between nations, settles trades disputes and conduct straight negotiations
WORLD TRADE ORGANIZATION (WTO)
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.
The six key objectives of WTO
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.
INTERNATIONAL MONETARY FUND (IMF)
TheIMF’smain goal is to ensure the?
the stability of theinternational monetaryand financial system.
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
CULTURAL GLOBALIZATION
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.
CULTURAL GLOBALIZATION
ASPECTS OF CULTURAL GLOBALIZATION
1.MIGRATION
2.THE GLOBALIZATION OF FOOD
3. THE GLOBALIZATION OF SPORT
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.
MIGRATION
The spread of these GLOBAL FOOD corporations has arguably led to the decline of local diets and eating traditions
THE GLOBALIZATION OF FOOD
most notably the World Cup and The Olympics, which bind millions together in a shared, truly global, leisure experience.
THE GLOBALIZATION OF SPORT
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
POLITICAL GLOBALIZATION
The creation and existence of the United Nations (UN) has been called one of the classic examples of
Political globalization
To maintain international peace and security and Promoting human right and global development
UNITED NATIONS AND ITS ROLE IN GLOBALIZATION
When was the international organization created?
October 24,1945
How many member does the United Nation (UN) have?
193 sovereign states
the world’s largest intergovernmental organization which is based in New York (Headquarter)
The United Nations (UN)
The free movement of goods, capital, services, technology, and information?
GLOBAL ECONOMY
APEC
Asia-Pacific Economic Cooperation
ASEAN
Association of Southeast Asian Nations
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,
34th
6th richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia
The Philippines
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.
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PHILIPPINES: NEW INDUSTRIALIZED COUNTRY
Branches of Global Economy
Production
Finance
Markets
Regimes
Corporation
Labor
Technology
(Off-shoring- the work done overseas)
(Outsourcing- SOMEONE else does the work for us)
Globalization of Labor
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
Globalization of Production
obtain(goods or a service) from an outside or foreign supplier, especially in place of an internal source
Outsourcing
BPOs (Call Center Agencies)
Business Process Outsourcings
Increase job opportunities
Upgrade education system and leads to more training
Increase labor standard
Increase labor productivity
Pressure firms to correct labor abuses
Effect of Globalization on Labor Conditions
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
Globalization of Technology
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
Financial Globalization
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
Globalization of Corporation
(as mentioned by MICHAEL PORTER) refers to BUSINESS that maintains a strong headquarters in one country, but has investments in multiple foreign location.
Global business
Coca Cola/ Pepsi/ Samsung/ Apple/ Nestle/ Lacoste/ Penguins/ Guess/ Nike/ Gap called as?
Multinational Company
A standardized vs. adapted to the local tasters & customs.
The whole process of planning, producing, placing, and promoting a company’s product globally
Global marketing
refers to the process of integrating and merging of the distinct markets into a single market
Globalization of Markets
-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
Impact of Globalization on Consumers
They are chartered by more than one country, and they are subjects to international law
The owners or shareholders are generally national governments
International Financial Institutions (IFIs)
When was the firs International Financial Institution (IFIs) established?
after the WWII
refers to:
*Prices among different location or related goods follow the same patterns over a long period of time
Market Integration
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
Between 1882 and 1936
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)
Late 19th century
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)
1880s
The time when global migration movement/ European immigration.
Late 19th century (early 20th century)
- Multi-state political structure and
- the international or global division of labor of the core, semi-periphery, and periphery countries
Global Interstate System
Body of people politically organized under a government within a definite territory.
STATE
A system that refers to existence of the division of labor
World System
It deals with inter-regional and transnational division of labor, which divides the world into (3):
➤Core countries
➤Semi-periphery countries
➤Periphery countries
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
World System Theory
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
Modern world
- Low Skills
- Labor Intensive Production
- Extraction of Raw Materials
SEMI-PERIPHERY/ PERIPHERY COUNTRIES
- Higher Skills
- Capital Intensive Production
CORE COUNTRIES
World Governance Movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region
CGG
Contemporary Global Governance
Institution of Global Governance
- United Nations
- International Criminal Court
- World Bank
the function is to maintain peace and security for all of its member-states.
Functions of United Nations
Climate Change, Poverty, Violent Conflict, Intolerance, and Extremism present direct threats to the unity and well-being are the challenges of?
Challenges of Global Government in the 21st Century
refers to the increasing importance of INTERNATIONAL trade, INTERNATIONAL relations, treaties, alliances and others
Internalization
