GLOBALIZATION Flashcards
100 years ago, Latin term GLOBUS (GLOBE)
spherical representation of the earth
19th century GLOBAL
world scale
1940s
Globalise (v)
Globalism (n)
Political connectedness of different countries
GLOBALISM
1959
GLOBALISATION = process
1980s
GLOBALITY = output/condition
4 sation that differs to GLOBALISATION
Internationalisation
Universalisation
Westernisation
Liberalisation
growth of transactions and interdependence between countries
Internationalisation
removing regionalists, indigenous people, cosmopolitan
Internationalisation
citizen of the world
cosmopolitan
more intense form of internationalisation
GLOBALISATION
denotes a process of removing officially imposed restrictions
LIBERALISATION
free market
laissez-faire
process of dispersing various products and experiences
Universalisation
sacrificing culture
Universalisation
Werstern modernity
Westernisation
spread of transparency connections between people
GLOBALISATION
Americanisation/colonisation
Westernisation
says “WESTOXICATION”
Ali Ahmad
5 connections
physically
legally
linguistically
culturally
psychologically
a historical process representing the result of human innovation and technological process
ECONOMIC GLOBALIZATION (IMF definition)
It signaled the coming of full economic globalization.
GALLEON TRADE
It is the exchange of capital, goods, and services across international borders or territories.
Example: SILK ROAD
INTERNATIONAL TRADING
SYSTEMS
1571
GALLEON TRADE
The first time that the Americas were directly connected to Asian trading
routes.
GALLEON TRADE
Galleon Trade was part of this system
AGE OF MERCANTILISM
MANILA to ACAPULCO
GALLEON TRADE
system of global trade with multiple restrictions:
AGE OF MERCANTILISM
1867
GOLD STANDARD
a more open trade system
GOLD STANDARD
adopted at an international conference in PARIS
GOLD STANDARD
fixed exchange rate system all based on the value of gold
GOLD STANDARD
was still a very restrictive system
GOLD STANDARD
The worst economic downturn in the history of the industrialized
world, lasting from the stock market crash of 1929 to 1939.
GREAT DEPRESSION
Wall Street went into panic and millions of investors were wiped
out
GREAT DEPRESSION
It made returning to pure standard more difficult.
GREAT DEPRESSION
Worst and longest recession experienced by the Western world.
GREAT DEPRESSION
Some economists blame this to the gold standard.
GREAT DEPRESSION
HOW DID US RECOVER FROM
THE GREAT DEPRESSION?
abandonment of the gold standard
free up money to spend on reviving the economy
Barry Eichengreen
Currencies that are not backed by precious metals and whose value is determined by their cost
relative to other currencies
FIAT CURRENCY
It is how the world economy operates today.
FIAT CURRENCY
Was inaugurated in 1944 during the United Nations Monetary and Financial Conference
THE BRETTON WOODS
SYSTEM
To prevent the catastrophes brought mostly about by the Great Depression
THE BRETTON WOODS
SYSTEM
English economist
- he largely influenced the Bretton Woods System
- he believes that economy crisis occur when money is not being spent and thereby not moving; it does not occur because a country does not have money
John Maynard Keynes
Two financial institutions were created:
International Bank of Reconstruction (World Bank)
International Monetary Fund (IMF)
- for funding postwar reconstruction projects
International Bank of Reconstruction (World Bank)
the global lender of last resort to prevent individual countries from spiraling into credit crises
International Monetary Fund (IMF)
happened after Bretton Woods
GENERAL AGREEMENT ON
TARIFFS & TRADE (GATT)
1947
GENERAL AGREEMENT ON
TARIFFS & TRADE (GATT)
Its main purpose was to reduce tariffs and other hindrances to free trade.
GENERAL AGREEMENT ON
TARIFFS & TRADE (GATT)
hindrance to free trade
smuggling
1940s – 1970s
KEYNESIAN ECONOMY
Government poured money into their economies, allowing people to purchase more goods and in the process, increase demand for these products.
KEYNESIAN ECONOMY
Law of supply and demand – as demands of these goods increase, so is their price.
KEYNESIAN ECONOMY
During the Yum Kuppur war, the US and other countries decided to resupply the Israeli Army with arms so OAPEC imposed an embargo causing the sharp rise of oil prices.
ORGANIZATION OF ARAB
PETROLEUM EXPORTING
COUNTRIES
founded in 1955
Its main goal is to continue the tariff reduction under the GATT
WORLD TRADE
ORGANIZATION (WTO)
a strategy of the US Treasury Department, World Bank, IMF, and WTO to observe the
Washington Consensus –
Privatization of Government –
NEOLIBERALISM
minimal government spending to reduce government debts
Washington Consensus
controlled services like water, power, communication and transport
Privatization of Government
2007-2008
The world experienced the greatest economic downturn since the Great Depression.
THE GLOBAL FINANCIAL
CRISIS
US removed banking and investments restrictions.
In attempt to promote the free market, government authorities failed to regulate bad investments occurring in the US housing markets.
THE GLOBAL FINANCIAL
CRISIS
(TNCs)
transnational corporations
refers to countries lowering their labor standards, including the protection of the
workers’ interest, to lure in foreign investors seeking high profit margins at the lowest cost possible.
RACE TO THE BOTTOM
governments weaken environmental laws to attract investors, creating fatal
consequences on their ecological balance and depleting them of finite resources
RACE TO THE BOTTOM
Russia is authoritarian TRUE or FALSE
TRUE
Russia is the largest country TRUE or FALSE
TRUE
Russia use bear TRUE or FALSE
TRUE
is the core of the Russian le
National Interest
What country serve as corridor
Poland
Is Poland now a member of NATO?
YES
Why is Napoleon and Hitler did not succeed in invading Russia?
(STRATEGIC DEPTH) unsustainability long supply lines
line that supports army for foods, armor,bullet, & other military equipment
long supply lines
Russia has been invaded 500 years ago in the West
5x
Who tries to invade Russia?
Poles, Swedes, French, Germany 2x
Why was NATO created?
defense against the danger pf Soviet aggression
Counterpart of Russia
Warsaw Pact in 1955
Military organization
NATO
What does Putin blame for undermining Russian security?
MAJOR GEOPOLITICAL DISASTER OF THE COUNTRY
Putin blamed the last President_________?
MIKHAIL GORBACHEV
Russian agreed with other countries not to join NATO or European UNION because it is their strategy in protecting their territory. TRUE / FALSE
TRUE
What do you call the ancestor of Russian?
KIEVAN RUS
Russian first territory
KIEV UKRAINE
First expand Russia and states “attack as defense”
IVAN THE TERRIBLE 1533
Russian need to move to ______
MOSCOW
IVAN THE TERRIBLE was followed by?
IVAN THE GREAT
EMPRESS CATHERINE THE GREAT
What kind of place is MOSCOW?
THEY HAVE NO DEFENSE
Is Moscow purely flatland, with no mountains, seas, and hills?
yes
Who founded the Russian empire?
Peter the Great
How many countries does USSR have?
15
Rivsl of USSR
US
Russia is 5x of INDIA. TRUE/FALSE
TRUE
Russia is 70x of UK. TRUE/FALSE
TRUE
Russia is 1.75x of PHIL. TRUE/FALSE
TRUE
Russia has 11 time zones
TRUE
Russia’s problem is very short agricultural calendar
yes
what do you call the side of Russia
URAL
Are RUSSIAN asian or european?
neither, they are RUSSIANS
Which “treasure chest?”
Siberia
Is Russian an asian power?
NO
Central Asian countries
Uzbekistan, Tajikistan, Kyrgyzstan, Turkmenistan
