Globalization Flashcards
Globalization as a concept fundamentally deals with __
Flows
The crucial element of globalisation that is created and sustained as a consequence of these constant flows is
Worldwide interconnectedness
Globalization is a multidimensional concept
It has political economic and cultural manifestation
Globalisation results in an erosion of state capacity that is the ability of government to do what they do
All over the world the old welfare state is now giving way to a more minimalist state that performs certain code function such as the maintenance of law and order and the security of which citizens however it withdraws from many of its earlier welfare functions directed at economic and social well-being
What has become the prime determinant of economic and social priorities due to globalisation
The market has become the prime determinant of economic and social priorities
Globalisation does not always reduce state capacity the primacy of the state continues to be the UN challenged basis of political community
The old jealousys and rivalries between countries have not seized to matter in world politics the state continuous to discharge its essential functions and consciously withdraws from certain domains from which it wishes to but state continues to be important.
The state capacity has received a boost as a consequence of globalisation with—-
Enhance technology
IMF and WTO are
International institutions that play a role in determining eco globalisation