Contep. Units 1-3 Flashcards
According to him, Globalization is not a single concept that can be defined and encompassed within a set time frame, nor is it a process that can be defined clearly with a beginning and an end.
Al-Rodhan (2006)
It is a universal process, a concept, a revolution, and “an establishment of the worldwide market free from sociopolitical control.
Globalization
According to him, Globalization is the process of world shrinkage, distances getting shorter, and things moving closer.
Larsson (2001)
He supported the belief that globalization brought regression, colonialism, and destabilization
Martin Kohr
He is the president of the third world network in Malaysia, who stated that Globalization is a form of colonization.
Martin Kohr
According to him, Globalization means the onset of the borderless world.
Ohmae (1992)
According to them, Globalization is a situation wherein societies, cultures, politics, and economics have, in some sense, come closer together.
Ray Kiely and Phil Marfleet (1998)
He stated that “Globalization refers to processes whereby social relations acquire relatively distance less and borderless qualities so that human lives are increasingly played out in the world as a single place.”
Jan Aart Scholte (1999)
It can be seen that there are common themes from these definitions, such as the elimination of borders among different countries and that the definition is somehow vague and does not clearly define the implication of Globalization in a particular area.
Globalization as Broad and Inclusive
According to him, Globalization is characterized by the internationalizing of production, the new international division of labor, migration from south and north, and a competitive environment, which increases processes such as manufacturing of goods and commodities.
Robert Cox (1999)
According to them, Globalization is a process in which the production and financial structures of countries are becoming interlinked by an increasing number of cross-border transactions.
Bairoch & Kozul-Wright (1996)
He explains that Globalization is the latest stage in a long accumulation of technological advance, which has given human beings the ability to conduct their affairs across the world without reference to nationality, government authority, time of day or physical environment.
Langhone (2001)
This kind of meaning can be limiting in terms of application.
Globalization as Narrow and Exclusive
This can only be applied with a particular scope of activity.
Globalization as Narrow and Exclusive
What are the three metaphors of Globalization?
Solid, Liquidity, and Flows
This refers to the barriers that may prevent free movement and it can be natural or man-made.
Solid
This hardens over time and therefore have limited mobility.
Solid
This refers to increasing ease of movement of people, things, information, and places in the global age.
Liquidity
What are the characteristics of Liquidity?
- Forever ready to change
- Difficult to stop once it is on the move
- Tend to melt whatever stands in its path
This refers to the movement of people, things, ideas, and culture across the globe due to the advances in technology, economic and political integration, and establishment of global policies that lessens and eliminates the existing borders.
Flows
What are the five perspectives on the origin of globalization?
Hardwired, Cycles, Epochs, Events, and Broad, more recent Changes.
This proposes that globalization originated from the basic motivation of human beings to seek a better life (Chanda, 2007).
Hardwired
This explains that there is no single point of origin in globalization but it is a long-term cyclical process wherein the current global age today is only a modification of the global age in the past.
Cycles
This explain that there are waves of globalization that took place in the past and each of them has its own origin.
Epochs
this perspective is different from cycles and epochs as it specifies the event that is somehow responsible for the origin of globalization.
Events
this perspective views that the origin of globalization has taken place during the recent changes that happened in the 2nd half of the 20th century.
Broader, more recent Changes
What are the three Criticism on the Existing Evidences of Globalization
Rejectionist, Sceptics, and Modifiers
These are People who are against the utility of globalization as an incorrect analytical concept.
Rejectionist
They emphasizes the limited nature of the globalizing process and that the world is not as integrated as it is.
Sceptics
This disputes the novelty of the process, implying that the label ‘globalization’ has often been applied in a historically imprecise manner
Modifiers
What are the three theories of globalization?
World System Theory, World Polity Theory, and World Culture Theory
this theory believes that capitalism has spread around the world for the last five centuries from 1500 to the present.
World System Theory
In world Capitalism, what are the three major division of labor of each country?
Core, Peripheral, and Semi-Peripheral
These are powerful, wealthy, and industrialized countries that usually control and benefit from the global market.
Core
These countries own most of the world’s capital and technology and have great control over world trade and economic agreements.
Core
These are the countries that are dependent on core countries for capital and have an underdeveloped industry.
Peripheral
These countries generally provide labor and materials to core countries.
Peripheral
Countries that share characteristics of both core and periphery countries.
Semi-Peripheral
they also exploit peripheral countries just as core exploits the natural resources of peripheral countries.
Semi-Peripheral
It was developed as an analytical frame for interpreting global relations, structures, and practices.
World Polity Theory
It views the world system as a social system with a cultural framework called ______ ________.
World Polity
It is a label for a particular interpretation of globalization that focuses on the way in which participants in the process become conscious of and give meaning to living in the world as a single place.
World Culture Theory
What are the two impacts of Globalization?
Homogeneity and Heterogeneity
An impact of globalization that means an increasing sameness as information and ideas flow across boundaries.
Homogeneity
It is associated with the creation of local inputs leading to a variety of cultural hybrids.
Heterogeneity
it is the growing international influence of a particular culture.
Cultural Imperialism
It is a subcategory under the broader umbrella of cultural imperialism.
Media Imperialism
It is the process wherein the principle of one of the dominant fast-food restaurants in the United States of America is employed and used in almost different societies across the world.
Mcdonaldization
What are the principles that usually revolves around Mcdonaldization?
Efficiency, Predictability, and technological advancement
It is the desires and ambitions of different entities such as organizations, corporations, and other nations to influence others and impose their power throughout the world.
Globalization
Their major goals include expanding their power and seeing that their profits grow across different parts of the world.
Globalization
What are the three perspectives in the global cultural flow?
Cultural Differentialism, Cultural Hybridization, and Cultural Convergence
It states that there is a likelihood that other culture which is significantly different from one culture may clash if they get to interact.
Cultural Differentialism
It refers to a politics of integration without the need to give up cultural identity” (Pieterse, 2003, p. 56).
Cultural Hybridization
It is the process of increasing sameness by adopting global culture, ideas, and practices.
Cultural Convergence
This 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 (Shangquan, 2000).
Economic Globalization
From its viewpoint, Economic Globalization is a historical process that was the outcome of human evolution from traditional and primitive technology to the present technological advancement.
International Monetary Fund
The term sometimes also applies to the change of people (labor) and knowledge (technology) across international borders (Staff, I. M. F., 2008).
Economic Globalization
What are the four Interconnected Dimensions of Economic Globalization?
Goods and Services, Capital, Communication and Technology, and Market Exchange
These are tangible objects that satisfy people’s wants.
Goods
The total assets a company needs to stay solvent.
Capital
This has allowed the integration of economies worldwide through increases in trade, investment flows, and technology transfer.
Communication and Technology
it is an economic system in which goods and services are produced, distributed, and exchanged by the forces of price, supply, and demand.
Market Exchange
This refers to government policies that restrict international trade by imposing tariffs, quotas, product standards, and subsidies.
Protectionism
Reasons for implementing Protectionism
- To improve domestic economy by forcing citizens to purchase local products instead of imported products.
- For safety and quality concerns of both imported and exported products
What are the four primary policy tools of Protectionism?
Tariffs, Import Quotas, Product Standards, and Government Subsidies.
These are charges to importing countries in the form of either money or goods that will serve as a payment for allowing its international products to be sold in the local market.
Tariffs
These are the reasons for the increase of international product prices.
Tariffs
This is a kind of tariffs that lessen the number of products that can be imported for a certain period of time.
Import Quotas
This is a kind of barrier that imposes strict standards in imported products which may make it difficult for different importing countries to bring their goods in the local market.
Product Standards
This is a strategy of the national government by which incentives and cash payments are distributed to domestic businesses to encourage them to expand their market globally.
Government Subsidies
This may strengthen the local market.
Government Subsidies
It is the process of removing or reducing the barriers or restrictions in the exchange for goods between and among nations.
Trade Liberalization
This ultimately lessen consumer costs while increasing efficiency, and fostering the growth of the economy.
Trade Liberalization
Who are the main actors of economic globalization?
Multinational Companies, Consumer, State, Laborers, and Regulatory Institutions
For him, a world-system is a social system that has boundaries, structures, member groups, rules of legitimation, and coherence.
Wallerstein
This is an adaptation of the dependency theory.
World System Theory
This focuses on understanding the “periphery” by looking at core-periphery relations, and it has flourished in peripheral regions like Latin America.
Dependency Theory
What are the different categories that Wallerstein proposed under World-Systems Theory?
Core, Periphery, and Semi-Periphery
These are geographically and culturally different, focusing on labor-intensive
Periphery
These focuses on capital-intensive production.
Core
These act as a buffer zone between core and periphery.
Semi-Peripheral
Composed of wealthy nations, strong and powerful, technological advanced, benefited the most, and exporter and producer of goods.
Core
They retained limited access to international banking.
Semi-Periphery
They lacked strong central governments or were controlled by other states.
Peripheral
They are least industrialized
Peripheral
They exported raw materials to core
Peripheral
They relied on coercive labor practices
Peripheral
He defines the term economic integration as the discriminatory removal of all trade impediments between at least two participating countries and the establishment of certain elements of coordination and cooperation between them.
El-Agraa (1998)
This is an arrangement among nations that typically includes the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies.
Economic Integration
This aims to reduce costs for both consumers and producers and to increase trade between the countries involved in the agreement.
Economic Integration
What are the Levels of Economic Integration?
Preferential Trading Area
Free Trade
Custom Union
Common Market
Economic Union
Political Union
This allow member countries to have access to some of their products.
Preferential Trading Area
In here, tariffs are not eliminated but it is lessened as compared to non- participating countries.
Preferential Trading Area
This aimed to reduce the tariff significantly between or among partnered countries.
Free Trade
The general goal of this agreement is to develop economies of scale and comparative advantages, which promotes economic efficiency.
Free Trade
This is almost the same with free trade agreement as it aims to reduce and abolish the tariff but it differs from free trade as the member country has common external tariffs among member countries.
Custom Union
In here, there is a common trade regime achieved.
Custom Union
This is an integration by which member countries are able to move their capital and services within their organization.
Common Market
This leads to the expansion of scale economies and the maximization of comparative advantages.
Common Market
This kind of economic integration is usually called as a single market.
Economic Union
At this level, some policies related to economic and political aspects are also integrated such as the existence of a common currency to be used by each member country.
Economic Union
This is a form of integration wherein member countries abide by the rules presented by a common government in which the member country’s sovereignty is reduced significantly.
Political Union
The history of economic globalization can be traced back to the early years of this as evidenced by their extensive transportation network and the existence of everyday language, the legal system, and currency.
Roman Empire
Different global powers that exist during Roman Period?
Spain, Italy, Portugal, and Britain
During this time, the international trade expanded significantly as did cross-border flows of financial capital and labor.
Napoleonic Wars in 1815 and the Beginning of World War 1
Technological advancement in this year can be seen from the replacement of the sail and railroads by the steam power. The opening of the Suez Canal has helped to reduce travel times between Europe and Asia.
Napoleonic Wars in 1815 and the Beginning of World War 1
The major powers during the Two world wars (I & II) and the Great Depression; Post World Wars and Post Great depression.
United States, Western Europe, and Japan
The heightened economic integration achieved during the early 19th century was ruined by the two world wars and the great depression.
Two world wars (I & II) and the Great Depression; Post World Wars and Post Great depression.
This agreement was enacted during the post-world wars.
The Bretton Wood System
Who was at that time owned the two-third of world’s Gold had led this conference in July 1944 with delegates from 44 countries at Bretton Woods, New Hampshire?
United States of America
The goal of this agreement was to create an efficient foreign exchange system, prevent competitive devaluations of currencies, and promote international economic growth.
The Bretton Wood System
What are the two institutions that were established as part of the Bretton woods agreement in 1945?
International Monetary Fund and World Bank
Both of these two institutions were created to address specific concerns in regard to the economic crisis that the world has experienced.
International Monetary Fund and World Bank
This Institution was created to oversee the world’s monetary system’s stability.
International Monetary Fund (IMF)
What does IMF means?
International Monetary Fund
This was compromised of 189 member countries that cooperate and collaborate towards the goal of fostering global monetary cooperation, establishing financial stability, maintaining international trade, and promoting growth in the economy.
International Monetary Fund
This Institution was established to provide financial assistance and strategic advice to nations profoundly affected by the previous world wars.
World Bank
What are the two main goals of the world bank?
end extreme poverty and increase overall prosperity
What are the five branches/organizations of the World Bank?
International Bank
International Development Association (IDA)
International Finance Corporations
Multilateral Investment Guarantee Agency
International Centre for Settlement of Investment
This branch of World Bank is for reconstruction and development that provides debt financing to government that is considered middle income.
International Bank
This branch of World Bank gives interest-free loans to the government of low-income countries.
International Development Association (IDA)
This branch of World Bank focuses on private sectors and developing countries with investment financing and financial advisory services.
International Finance Corporations
This branch of World Bank promotes investment in developing countries.
Multilateral Investment Guarantee Agency
This branch of World Bank is an institution that provides arbitration on international investment disputes.
International Centre for Settlement of Investment
This agreement was signed into law on January 1, 1948 with 23 countries after the world war to monitor world trade that may lead to economic recovery.
General Agreement on Tariffs and Trade (GATT)
What does GATT means?
General Agreement on Tariffs and Trade
Its main objective was to eliminate barriers in international trade by either reducing or removing tariffs and quotas.
General Agreement on Tariffs and Trade (GATT)
This is a global organization made up of 164 member countries that deals with the rules of trade between nations.
World Trade Organization
Its goal is to ensure that trade flows as smoothly and predictably as possible.
World Trade Organization
This is a term used to identify a phenomenon in which markets of goods and services that are related to one another is experiencing similar patterns of increase or decrease in terms of the prices of those products.
Market Integration
The term can also refer to circumstances in which the prices of related goods and services sold in a defined geographical location also begin to move in some sort of similar pattern to one another.
Market Integration
What are the types of Market Integration?
Positive and Negative Integration
This type of market integration implies eliminating barriers that restrict the movement of goods, services, and factors of production.
Negative Integration
In this type of market integration, the Government plays a minor role in policymaking regarding manufacturing, distribution, and flow of goods.
Negative Integration
In this type of market integration, the Government may adjust domestic policies and institutions through the creation of supranational arrangements.
Positive Integration
This type of market integration is often identified with positive values like social protection and the correction of market failures.
Positive Integration
What are the levels of economic integration?
Preferential Agreement, Free Trade Area, Custom Union, Common Market, and Economic Union
This level of economic integration is considered to be the first stage to which it lessens tariffs and quotas between member countries who have signed the agreement.
Preferential Agreement
This level of economic integration is considered to be the second stage of economic integration for which it reduces barriers to trade among member countries to zero, but each member country has its own decision when it comes to the external rate of tariff to non-member countries
Free Trade Area
This level of economic integration is almost similar to the free trade area but it differs from the former economic integration as it has a common external rate of tariff to non- member countries.
Custom Union
This level of economic integration is second to the highest degree of economic integration by which labor and capital are included in the trade. It is to integrate both product and factor markets of member countries.
Common Market
This level of economic integration is considered to be the final step in complete integration by which the member countries have common policies that involve common currency among member nations, fiscal and political policies.
Economic Union
These were founded by groups of countries to promote public and private investment to foster economic and social development in developing and transitioning countries.
International Financial Institutions
What are the institutions under International Financial Institutions?
World Bank, International Monetary Fund, and World Trade Organization
What are the INTERNATIONAL/REGIONAL ORGANIZATION AND ALLIANCES?
OECD
OPEC
ASEAN
APEC
European Union
NAFTA
What does OECD means?
Organization for Economic Co-operation and Development
This is an international organization that works to build better policies for better lives.
OECD
Their goal is to shape policies that foster prosperity, equality, opportunity and well- being for all.
OECD
This is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
OPEC
What does OPEC means?
Organization of Petroleum Exporting Countries
It was established to monitor and stabilize the price of OIL that is both beneficial and fair with the stakeholders such as the producer and consumer.
OPEC
This was formed in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand to promote political and economic cooperation and regional stability.
ASEAN
What does ASEAN means?
Association of South East Asian Nations
What are the countries who first established ASEAN?
Indonesia, Malaysia, the Philippines, Singapore, and Thailand
What are the three pillars of the ASEAN community?
Economic, Political-Security, and Socio- Cultural Community
This was established in 1989. Currently, it has a twenty-one member over the four continents.
APEC
What does APEC means?
Asia Pacific Economic Cooperation
This adheres to the economic and political union where its member countries have a single currency, Euro.
European Union
This is one of the largest exporters of goods and services and considered to be the biggest import market for over a hundred countries.
European Union
This organization was formed in 1994 by the Canada, Mexico and America for the reason of elimination of barriers when it comes to trade and investment.
NAFTA
What is NAFTA?
North American Free Trade Agreement
This is coined from the base term ‘global’, which means all around the world.
Global Corporation or Company
It is a company that operates beyond its local boundary.
Global Corporation or Company
They are deemed to be one of the major players in economic integration as their goods and commodities allow other countries to engage in foreign trading and exchange.
Global Corporation
Their existence has significant influenced to the consumer behavior such as changes of lifestyles, spending pattern, practices and traditions.
Global Corporation
What are the types of Global Corporations?
International Companies
Multinational Companies
Transnational Companies
Global Companies
This company operates primarily in a single country but has some exposure to foreign markets.
International Companies
This type of global corporations are basically importers and exporters.
International Companies
This Company operates in more than one country and receive substantial income from these foreign operations qualify as multinational in nature.
Multinational Companies
This type of global corporations invests directly in foreign nations, but this is usually limited to a few areas.
Multinational Companies
These are the very largest multinational businesses with separate divisions that operate with a significant independence in their assigned markets.
Transnational Companies
This type of global corporations invests directly in dozens of countries and has a global headquarters that distributes decision-making capabilities to its various local operations.
Transnational Companies
This kind of company would usually operate on a worldwide scale, but it would not be tied legally to any nation.
Global Companies
They have an investment in many countries but maintain a strong headquarters in one country. They typically market their products and services to each individual global market.
Global Companies
