Global Economy Flashcards
Who stated that Globalization is about the liberalization and global integration of markets
Manfred Steger: 1st core claim
Who defined globalization as the expansion and intensification of social relations and consciousness across world-time and across world-space/
Manfred Steger
Reason why we establish good rapport with other nations
Economics
was an ancient network of trade paths that stretched from China through Central Asia to Mediterranean.
Silk Road
It facilitated the exchange of commodities, ideas, art, culture, language, and religion across different civilizations during the 2nd century B.C. -14the century A.D.
Silk Road
Who defined economic globalization as a historical process representing the result of human innovation and technological process?
IMF (International Monetary Fund)
is a historical process representing the result of human innovation and technological process
Economic Globalization
It refers to the integration of economies through the movement of goods, services, and capital which are products of people, organizations, institutions, and technologies.
Economic Globalization (IMF, 2008)
When did silk route occur
during the 2nd century B.C.-14th century A.D.
It refers to the expanding interdependence of
world economies
Economic Globalization
Economic Globalization is the International exchange of goods and services that is expressed in monetary units of ?
Money by cardi b
Who is the person who provided attributes in economic globalization?
Shangquan (2000)
What are the 3 attributes of Shangquan in economic globalization?
- Growing scale of CROSS-BORDER TRADE of commodities and services
- flow of INTERNATIONAL CAPITAL
- wide and rapid spread of TECHNOLOGY
When did European Council President Charles Michel has invited Philippines President Ferdinand “Bongbong” Marcos, Jr. to visit Brussels.
June 5, 2022
Who did BBM meet? and when
clue: European Commission President
his father in hell EMI LANG
si Ursula von der Leyen from July 31 to August 12023
Who said this
“The continued exchanges between Her
Excellency and myself which started in Brussels last year, is a testament to join our
desire to bring our bilateral relationship to
Greater Heights. Let this be a new beginning for the strengthening and the
deepening of all our ties with the EU and
the Philippines.”
Marcos Jr. na walang kwenta
a concept under FLOW OF INTERNATIONAL CAPITAL wherein it is a type of investment in which a company establishes a business in another country for production of goods and services and still takes part in the management of
that business (for economic growth).
ex: toyota motor
FDI (Foreign Direct Investments)
Benczres (2014) identifies four interconnected
dimensions of economy namely:
- Globalization of trade of goods and services
- Globalization of financial and capital markets
- Globalization of technology and communication
- Globalization of production
Interconnected Dimensions of Economy:
Establishment of the World Trade Organization ( WTO)
Emergence of China as the major supplier and exporter of goods that affected
the world’s economy
Increasing number of business process outsourcing ( BPO)
Globalization of trade of goods and services
Ensures that trade flows smoothly, predictably , and freely as possible
World Trade Organization (WTO)
has the second-largest population in the world, which provides a huge
potential labor force, market, and consumer base.
China
key driver of china’s economic growth and helped it become the second-largest
economy in the world by nominal GDP.
Chinese Population
What is the reason why the number BPO companies are increasing?
Cheap labor cost, English Proficiency, costumer service skills
Interconnected Dimensions of Economy:
cross-listing of shares on one or more foreign stock exchange
cross-hedging and diversification of portfolio
round -the -clock trading worldwide
Liberalization of financial and capital markets
