Globalization Flashcards

1
Q

Define “globalization”

A

The processes that are increasing the interconnectedness of the world

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Describe economic globalization

A

The integration of globalization in production, trade, and finance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Describe the risks of economic globalization

A
  • lack of control on the flow of capital can lead to a financial crisis
  • tends to reduce the ability of national governments to manage their own economies
  • tends to cause increased inequalities in income, wealth, and power in many countries
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Describe “cultural globalization”

A

involves the spreading of cultural products and values across the globe

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Describe “political globalization”

A

involves the coordination of separate states to solve global problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is an example of political globalization

A

formation of institutions such as the UN, or The World Trade Organization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly