Global Village Flashcards
What does global Village mean?
The history of the term
A Canadian, Marshal McLuhan, coined the term “global Village (before internet took off) to describe the shrinking boundaries of countries
- info at our fingertips
- world seems smaller
- can receive news from across the globe in minutes
- easy trade and transportation allows us to enjoy foods from all over the world
Interconnectedness?
An event/ decision in one county can effect lives of people in another country
Ex. Oil
If they’re having a bad day with oil (in the African/Asian countries), our prices will increase or decrease
The north south gap
Is the divide in wealth Throughout the world
-Northern Hemisphere/wealthier/The have countries
- Southern Hemisphere/poorer/ the have-nots
- from pre-industrial era
Globalization argument
- one view is gap is widening bc of globalization, allowing for freer movement of ppl, trade & capital, increasing inequalities due to industrialization, new technologies & higher demand for goods
- more competition = companies must keep wages/benefits low to maintain profit.
Due to colonization, southern countries don’t have infrastructure to improve economy/technology
; poor get poorer; rich get richer
1994: world bank said gap is closing due to industrialization and that LDC and LLDC are growing faster than industrialized countries
Therefore more capital is flowing to the south.
Define: Classification of countries
Countries organized by level of economic development
Cold war classification:
What was the problem
First world: capitalist countries
Second world: communist countries
Third world: poorer countries
The problem? Countries were categorized according to ideology and capitalism ( how they use their money, & their policies )
Post cold was classification system:
The problem?
DC- developed countries
UDC- underdeveloped countries
some countries didn’t fit in the categories
Today’s classifaction system
LLDC -least developed countries
LDC- less developed countries
MDC- more developed countries
One reason for economic disparity for north/south is due to ___________. Explain why.
Debt
Owing money
Former colonies were left in an unstable position when they were granted their independence, bc of this, they borrowed money from northern countries.
Present repercussions:
The debt increased due to interest and this is a new form of colonialism bc it prevents independence
-money was not always used for good, sometimes disappeared into potentially corrupt governments.
SOURHERN COUNTRIES are in debt to northern countries (foreign debt) and International organizations like IMF
What are the lasting effects of colonization?
article Q 9
- Many politic and economic relations that were established during colonialism continue.
- many still rely on one or two main crops
- never fully develop an industrial base
- in debt to wealthy nations
