DAY 2 Flashcards
what is globalization
Globalization involves increasing flows of people, objects, places, and information, encountering structures that either facilitate or impede these flows.
time-space compression
Transportation and communication technologies shrink space and reduce time.
debates on globalization: globalists
Believe globalization is real, affects the entire globe, and may be supplanting nation-states. They point to the rise of global markets, institutions, civil society, and popular culture.
debates on globalization: skeptics
Question the extent of globalization, noting that many are excluded, nation-states still create barriers (physical and regulatory), multinational corporations (MNCs) are often based in specific countries, and nationalist movements are resurging.
what does ferguson say about globalization?
argues that globalization is not a seamless, all-encompassing process, especially as seen from Africa. Instead, it’s characterized by sharp divisions and inequalities, extreme conditions (low life expectencies), unevenness, disconnection and segmentation
James Ferguson’s concept of “globalization hop”
how globalization doesn’t spread evenly across the world but instead moves in a selective, “hopping” pattern.
globalization “hops” from one key global hub to another, bypassing certain areas entirely. This means that some places—especially in parts of Africa and the Global South—are often excluded from the supposed benefits of globalization, such as foreign investment, infrastructure development, or integration into global markets.
the digital divide
the gap between people who have access to modern digital technologies—such as the internet, computers, and smartphones—and those who do not.
globally 49% is connected to internet, but only 16% in low income countries, 45% in middle income countries and 87% in high income countries
Why Does the Digital Divide Matter?
- It affects education (students without internet access fall behind).
- It influences economic opportunities (jobs increasingly require digital skills).
- It can deepen social and political inequalities, as access to information and participation in digital spaces become essential.
what are multinational corporations
businesses that operate in many countries
are multinational corporations new?
no, but the number of MNCs has skyrocketed—from a few hundred in 1945 to around 60,000 in 2024—showing their increasing dominance in the global market.
what do we mean by MNCs take advantage of geographically uneven markets and assets.
Global markets and resources are not evenly distributed—some regions have cheaper labor, while others have advanced technology or high consumer demand.
MNCs exploit these differences by:
Outsourcing production to low-wage countries (e.g., clothing brands manufacturing in Bangladesh).
Selling high-end products in wealthier markets (e.g., luxury brands targeting Western countries).
Extracting natural resources where regulations are weaker (e.g., mining operations in Africa or South America).
what do we mean by MNCs may be more powerful than nation-states, contributing significantly to economic growth.
Some MNCs have revenues larger than entire national economies (e.g., Amazon’s revenue exceeds the GDP of many countries).
Their influence over trade, labor, and policy can sometimes surpass that of governments, allowing them to shape economies, regulations, and even political decisions.
what is the The Transnationality Index (TNI)
a tool used by organizations like UNCTAD (United Nations Conference on Trade and Development) to measure how globalized an MNC is.
what do we mean by MNCs contribute disproportionately to the U.S. economy’s growth and health
Many of the world’s largest MNCs are based in the United States (e.g., Google, Microsoft, McDonald’s).
These corporations bring in massive revenues, create jobs, and influence global trade, making them central to the U.S. economy’s strength.
what does the waning of the nation state refer to?
the idea that traditional nation-states are losing power and influence due to globalization, economic shifts, and technological changes. While states still play a role in governance, their control over economies, borders, and even political decisions is being challenged.
what symptoms did we talk about when we talked about the waning of the nation state
- Refugee crises - 65 million refugees now, the prior emergency level was 40 million
- Rise of global terror Many terrorist organizations (e.g., ISIS, Al-Qaeda) operate across borders, making them difficult for states to control.
- Alt-right populist governments.
These symptoms indicate a world where states are struggling to maintain control, whether through managing borders, fighting terrorism, or responding to political shifts
The pendulum theory of globalization
suggests that globalization moves in cycles—expanding and contracting over time—rather than progressing in a linear fashion. While we experienced hyper-globalization in the 1990s and early 2000s, today we are witnessing a swing back toward deglobalization and the revival of the nation-state.
What is Deglobalization?
Deglobalization refers to the slowdown, reversal, or restructuring of global economic and political integration. This trend is characterized by:
- Weaker global trade growth compared to the 1990s-2000s.
- Supply chain restructuring due to geopolitical tensions (e.g., U.S.-China decoupling- reducing their economic interdependence and creating separate supply chains)
-A return to economic nationalism, with governments prioritizing domestic industries. - More restrictive migration policies and declining labor mobility
what were the expansion phases and the contraction phases of the Pendulum Theory of Globalization
Expansion Phase:
Late 19th to early 20th century – Rapid industrialization, international trade expansion, and early multinational corporations (MNCs).
1990s-2008 (Peak of Hyper-Globalization) Fall of the Soviet Union, rise of free trade agreements (NAFTA, WTO), China’s entry into the global economy, and mass offshoring of production.
Contraction Phase (Deglobalization)
1914-1945 (World Wars & Great Depression) – Countries turned inward, increased tariffs, and embraced economic nationalism.
2008-Present (Post-Financial Crisis Shift) – Global supply chain disruptions, trade wars, populism, and rising geopolitical conflicts have led to a pullback from globalization.
what is the post-WWII multilateral system
refers to the global structure that was established to foster cooperation among countries and prevent the kind of conflicts that led to the Second World War.
what is a key example of the post-WWII multilateral system?
The United Nations (UN) is a key example of this system, designed to coordinate action on global issues such as security, development, human rights, and environmental protection. The aim is to bring together countries to work collaboratively and peacefully on shared challenges.
the limitations of multilateral system
- The post-WWII multilateral system, including organizations like the IMF, still reflects the dominance of the US and Europe, with major powers holding disproportionate influence
- The UN sometimes becomes a stage for political competition among major powers
what id Global civil society
refers to a vast network of organizations, movements, and individuals that operate outside of government control, aiming to address social, environmental, and political issues on a global scale.
an example of global civic society
Amnesty International is a leading human rights organization that works within global civil society to promote and protect the fundamental rights of individuals worldwide.
