Introduction Flashcards
The expansion and intensification of social relations and consciousness across world time and across world space
Globalization
Who defined globalization
Manfred Steger
Core Aspects of globalization (3)
Economic
Political
Cultural
Increasing linkage of national economies through trade, financial flows, and foreign direct investment by multinational firms
Globalization as Economic Process
Types of Economy (2)
Protectionism
-Protecting one’s economy from foreign competition through TRADE BARRIERS, includes Tariffs
Trade Liberalization
-Reducing trade barriers to make international trade easier between countries
Examples of countries practicing Protectionism
Egypt
India
Canada
Examples of countries practicing Trade Liberalization
Philippines
Something which can be used to lessen production costs through distribution through an outside supplier
Product outsourcing
Development of forms of governance that operate at the global scale, whose policies and rules cooperative nations are expected to abide
Globalization as Political process
Cons of globalization as a political process (2)
State sovereignity is reduced
Countries veto decisions and slow down decision making processes
A densely growing network of complex cultural interconnections and interdependencies that characterize modern social life
Increasingly homogenized global culture
Also known as ‘americanization’
Globalization as cultural process
