GLOBALIZATION Flashcards
What is globalization?
Globalization is the process of interaction and integration between people, business entities, governments, and cultures from other nations, driven by international trade and investment and supported by information technology.
How can globalization be illustrated?
An example is a Korean student who, after befriending a Filipino in college, adopts some Filipino cultural practices upon returning to Korea, while the Filipino also incorporates aspects of Korean culture into her life.
What are the effects of globalization?
The effects of globalization are multi-dimensional, ranging from economic to cultural impacts on both national and individual levels.
What are the four summarized effects of globalization according to Meyer (2000)?
- Economic, political, and military dependence and interdependence between nations. 2. Expanded flow of individual people among societies. 3. Interdependence of expressive culture among nations. 4. Expanded flow of instrumental culture around the world.
What was the initial perception of globalization in the Philippines?
In the early 90s, globalization was understood as a mainly economic phenomenon and viewed negatively, as it was thought to threaten local industries.
What positive impacts has globalization brought to the Philippines?
Globalization has attracted Foreign Direct Investment (FDI), bringing new technologies, employment opportunities, and economic development.
What negative effects can arise from foreign capital dependence?
- Creation of a small, highly paid elite class. 2. Repatriation of profits inhibiting domestic capital formation. 3. Concentration of land ownership among the rich. 4. Limitation of domestic labor’s ability to obtain better wages.
How does international dependence affect wages?
International dependence tends to suppress adult wages, which perpetuates the role of children as economic necessities, leading to explosive population growth.
What is the relationship between political and economic dependence?
Political dependence/interdependence often follows economic dependence/interdependence as nations strive to protect their investments and interests.
What is expressive culture?
Expressive culture refers to how a culture expresses itself through language, music, arts, etc., and globalization encourages the monetization and consumption of these cultural artifacts.
What is instrumental culture?
Instrumental culture refers to common models of social order, including national identity, socio-economic development, and education systems.
What is the Overseas Filipino Workers (OFW) phenomenon?
The OFW phenomenon refers to Filipinos traveling abroad for better economic opportunities, with 2.3 million OFWs responsible for significant remittances.
What are the three reasons for the movement of people among societies according to Meyer (2000)?
- Socio-economic migration. 2. Political expulsion. 3. Travel/tourism.
