Globalization Flashcards
is the process of interaction and integration among people, companies, and governments worldwide.
Globalization
The term globalization first appeared in the
early 20th century
Large-scale globalization began in the
1820s
Globalization came into popular use in the
1990s
Globalization developed its current meaning some time in
the second half of the 20th century
Types of globalization
Political Globalization
Cultural Globalization
Economic Globalization
is the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, services, technology, and capital.
Economic Globalization
refers to the transmission of ideas, meanings, and values around the world in such a way as to extend and intensify social relations.
Cultural globalization
the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market.
Economic globalization
This process is marked by the common consumption of cultures that have been diffused by the Internet, popular culture media, and international travel.
Cultural globalization
refers to the growth of the worldwide political system, both in size and complexity.
Political globalization
One of the key aspects of the political globalization is
the declining importance of the nation-state and the rise of other actors on the political scene.
_______ has defined it as “the expansion of a global political system, and its institutions, in which inter-regional transactions (including, but certainly not limited to trade) are managed”.
William R. Thompson
one of the three main dimensions of globalization commonly found in academic literature
Political globalization
can be linked with the rise of a global financial system with international financial exchanges and monetary exchanges.
Financial globalization
are a great example of the financially connected global world
Stock markets
information moves almost in real-time, together with the interconnection and interdependence of events and their consequences. People move all the time too, mixing and integrating different societies;
Sociological globalization
the phenomenon by which millions of people are interconnected thanks to the power of the digital world via platforms such as Facebook, Instagram, Skype or Youtube.
Technological globalization
is the new organization and hierarchy of different regions of the world that is constantly changing. Moreover, with transportation and flying made so easy and affordable, apart from a few countries with demanding visas, it is possible to travel the world without barely any restrictions;
Geographic globalization
accounts for the idea of considering planet Earth as a single global entity – a common good all societies should protect since the weather affects everyone and we are all protected by the same atmosphere. To this regard, it is often said that the poorest countries that have been polluting the least will suffer the most from climate change.
Ecological globalization
Positive Aspects of Globalization:
- improved standard of living;
- competition results to low prices and good product quality;
- developing countries reap benefits without going through the growing pains;
- governments cooperate to achieve common goals; and
- greater access to foreign culture creating more choices.
Negative Aspects of Globalization:
- outsourcing take away jobs;
- some cultural beliefs fade or disappear;
- diseases spread;
- lack of regulation lead to environmental degradation;
- poor countries adopt policies not applicable to them.
