Contemporary World Flashcards
Word used to describe the growing interdependence
of the world’s economies, cultures, and populations,
brought about by cross-border trade in goods and
services, technology, and flows of investment, people,
and information.
Globalization
Term used to describe the changes in societies and
the world economy that are the result of dramatically
increased trade and cultural exchange. In specifically
economic contexts, it refers almost exclusively to the
effects of trade, particularly trade liberalization or
“free trade”
.
Globalization
A common belief that globalization plays a role just at
international levels of trade and commerce, but the
fact is that it has played an important role in making
our lives much more comfortable too.
Globalization
The phones, apparels, gadgets or accessories that we
use in our day-to-day life are be available to us
through globalization. Knowingly or unknowingly, we
are all under the impact of globalization, and more
importantly it has helped in bringing international
peace and justice to mankind.
Globalization
closer contact between different parts of the world, with increasing possibilities of personal exchange, mutual
understanding and friendship between “world citizens”
The formation of a Global Village
“free trade” and increasing
relations among members of an industry in different
parts of the world (globalization of an industry), with
a corresponding erosion of National Sovereignty in
the economic sphere.
Economic globalization
Signs Of Globalization
- Increase in international
trade at a faster rate than
the growth in the world
economy - Increase in international
flow of capital including
foreign direct investment - Greater transborder data
flow, using such technologies such as the Internet, communication satellites and telephones - Greater international cultural exchange, for example through the export of Hollywood and Bollywood movies.
- Some argue that even
terrorism has undergone
globalization. Terrorists
now have attacked places
all over the world. - Spreading of multiculturalism and better individual access to cultural diversity, with on the other hand, some reduction in diversity.
- Erosion of nationalsovereignty and national borders through international agreements leading to organizations like the WTO, UN and IMF
- Greater international travel and tourism
- Greater immigration, including illegal immigration
- Development of global telecommunications infrastructure
- Increase in the number of standards applied globally (copyright laws)
Many anti-globalism activists see globalization as the
promotion of a Corporatist agenda, which is intent on
constricting the freedoms of individuals in the name
of profit.
Anti-Globalization
They also claim that increasing autonomy and
strength of corporate entities increasingly shape the
political policy of nation-states.
Anti-Globalization
Globalization imposes credit based economics,
resulting in unsustainable growth of debt and debt
crises.
Anti-Globalization
Supporters of free trade point out that economic theories such as comparative advantage suggests that free trade leads to a more efficient allocation of resources, with all thoseinvolved in the trade benefitting.
Pro-Globalization
In general, they claim that this leads to lower prices,
more employment and better allocation of resources.
Pro-Globalization
The country is taking part in the process of
globalization ever since the country signed
agreements with World Trade Organization in 1995.
Globalization of the Philippines
Now, globalization is very effective in the Philippines,
it has allowed major changes in the nation like more
labor, and more Filipino and foreign companies has
emerged in the nation in order to help the country’s
developing economy.
Globalization of the Philippines
Globalization can make the Philippines into a better nation if the Philippine leaders to make their economy more advance through global trading and allowing more foreign investors to the help boost the economy.
Globalization of the Philippines
By accomplishing those goals, the Philippines should
be able to reduce the poverty level as well as increase
labor force for job opportunities for those that are in
need for a living.
Globalization of the Philippines
The most effective factor in the Philippines is
education.
Globalization of the Philippines
The society’s mentality is to be educated and it’s with
education that people in the nation see their
opportunity for a better life in the future.
Globalization of the Philippines
However, since the poverty level is still increasing,
most Filipinos has managed to find work overseas
and they have managed to seek better living than in
the Philippines.
Globalization of the Philippines
Advantages of Globalization
- Peaceful Relations
- Employment
- Education
- Product Quality
- Cheaper Price
- Communication
- Transportation
- GDP (Gross Domestic Product) Increase
- Free Trade
- Travel and Tourism
Disadvantages of Globalization
- Health Issues
- Loss of Culture
- Uneven wealth distribution
- Environment Degradation
- Disparity
- Conflicts
Refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies.
Economic Globalization
The fast globalization of the world’s economies in recent years is largely based on the rapid development of science and technologies.
Economic Globalization
-The advancement of science and technologies has greatly reduced the cost of transportation and communication, making economic globalization possible.
Economic Globalization
Shipping cost (2000)
- Ocean-half of that in the year 1930
- Airfrieght-1/6
- Telecommunications- 1%
(as of 2022, the cost increased 8-9x)
-the way the acceleration of economic
activities leads to the destruction of spatial
barriers and distances
Time and Space Compression Effect
-(Ford’s car is designed in Germany, its
gearing system produced in Korea, pump in
USA, and engine in Australia.)
Time and Space Compression Effect
(GATT)
General Agreement on Tariffs and Trade
a legal agreement minimizing barriers to international trade by eliminating or reducing quotas, tariffs, and subsidies while preserving significant regulations.
GATT
(WTO)
World Trade Organization
deals with the global rules of trade
between nations.
WTO
Its main function is to ensure that global
trade flows smoothly, predictably and
freely as possible.
WTO
(MNCs)
Multinational corporations
the main carriers of economic
globalization.
(MNCs)
-They are globally organizing production and
allocating resources according to the principle
of profit maximization
(MNCs)
Multinational Corporations (MNCs) numbers
throughout the years
- 1996-44,000
- 2018-60,000 (controlling more than
500,000 subsidiaries)
The process of economy globalization is also the
process of global industrial restructuring and
readjustment.
Economic Globalization
-With the development of
science and technology and increase of income level, industrial structures of all the countries have been also undergoing readjustment and upgrading.
Economic Globalization
- RELATINGTO
- EMBRACING THE WHOLE OF SOMETHING
- A GROUP OF THINGS
Global
- THE MAIN MEANSOF MASS
COMMUNICATION. - THE OUTLETS AND TOOLS USED TO RESTORE AND DELIVER INFORMATION AND DATA
Media
THE CHARACTERISTICS AND
KNOWLEDGE OF A PARTICULAR
GROUP OF PEOPLE, ENCOMPASSING LANGUAGE, RELIGION, CUISINE, SOCIAL
HABIT, MUSIC, ART, ETC.
Culture
THE TRANSMISSION OF IDEAS,
MEANING AND CHARACTERISTICS OF A GROUP THROUGH SOCIAL MEDIA
Global Media Culture
EXPLORES THE RELATIONSHIP
BETWEENTHE MEDIA, CULTURE AND
GLOBALIZATION.
Global Media Culture
GLOBALIZATION COULD NOT OCCUR
WITHOUT MEDIA.
Global Media Culture
MEDIA HAVE MADE GLOBALIZATION
POSSIBLE
Global Media Culture
5 Stages of Development of Media
- Oral Communication
- Script
- Printing Press
- Electronic Media
- Digital Media
Language allowed humans to communicate and share information
Oral Communication
Language became the most important tool for exploring the world and the different cultures.
Oral Communication
Language help people move and settle down.
Oral communication
It allowed humans to communicate over a larger space and for a much longer duration.
Script
It allowed the permanent codification of economic, cultural, and political practice.
Script
It allowed the continuous production, reproduction, and circulation of print materials.
Printing Press
It includes the telegraph, telephone, radio, film and television.
Electronic Media
The wide range of these media continue to open up new perspective in economic. political, and cultural processes of globalization.
Electronic Media
It allows the adverstisement of products and online business transactions.
Electronic Media
Various Media are used for globalization to work all over the world
Digital Media
Various Media drive various forms of global integration the media plays a major role in globalization
Digital Media
Media components such as television, internet, computers etc. are considered to ahve a significant influence on globalization
Digital Media
The Process with which the local market opens up to the global economy.
Global Integration
refers to the process of increasing the degree of economic and political integration among countries around the world
Global integration
This can be done through a variety of means, including treaties, trade agreements, and infrastructure projects.
Global integration
can involve the processes of product standardization and technology development centralization
Global integration
THOSE PRODUCTS THAT ARE
MARKETED INTERNATIONALLY UNDER THE SAME BRAND NAME, FEATURES
AND SPECIFICATIONS ACROSS
COUNTRIES.
Ex: Apple Products that imported in the Philippines
Global Product
THOSE PRODUCTS THAT ARE
MANUFACTURED AND ONLY
AVAILABLE INSIDE THE COUNTRY.
In the Philippines, Ex. products are Myphone and Cherry Mobile
Local Product
when two cultures are different from each other and dont have much in common
Ex: American and Japanese
Cultural Differentialism
also called Cultural Divergence
when two or more cultures influence each other and become similar with increased contact.
Ex: Musical Preferences, Standardization of sports rules for internation
Cultural Convergence
The blending of elements from different cultures
Ex: Taglish
Cultural Hybridity
Coined from Globalization and Localization
Glocalization
used to describe a product or service that is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market.
Ex: UK-car producers must build vehicles with steering wheel on the righ
Glocalization
