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CONTEMPORARY WORLD > INTRODUCTION OF GLOBALIZATION > Flashcards

INTRODUCTION OF GLOBALIZATION Flashcards

1
Q

If this were a country, its revenues would place it on par with the GDP of the world’s 25th largest economy, surpassing 157 smaller countries. In 2010, major American corporations had revenues exceeding the GDP of entire countries, including Norway and Thailand.

A

Walmart’s Revenue

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2
Q

Its revenue of $6.32 billion is larger than Mongolia’s GDP of $6.13 billion. If this were a country, it would rank as the world’s 138th biggest country.

A

Yahoo’s Revenue

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3
Q

It’s revenue of $8.07 billion is larger than Zimbabwe’s GDP of $7.47 billion. If this were a country, it would rank as the world’s 133rd biggest country.

A

Visa’s revenue

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4
Q

Its revenue of $19.16 billion is larger than Paraguay’s GDP of $18.48 billion. If this were a country, it would rank as the world’s 102nd biggest country.

A

Nike’s Revenue

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5
Q

Its revenue of $24.07 billion branch would rank as the world 92nd biggest country. It is bigger than Latvia’s GDP of $24.05 billion

A

McDonald’s

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6
Q
  • Increased free trade
  • Speed of trade (milliseconds to trade shares)
  • Global economic organizations
  • Regional trade blocks
A

For the economist

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7
Q

A policy followed by some international markets in which countries’ governments do not restrict imports from, or exports to, other countries. This is exemplified by the European Economic Area and the Mercosur, which have established open markets.

A

Free Trade

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8
Q

Focuses on global monetary cooperation and financial stability.

A

International Monetary Fund (IMF)

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9
Q

Deals with the rules of trade between nations.

A

World Trade Organization (WTO)

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10
Q

Provides financial and technical assistance to developing countries.

A

World Bank

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11
Q

Promotes policies to improve the economic and social well-being of people around the world.

A

Organisation for Economic Co-operation and Development (OECD)

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12
Q

Engages political, business, and other leaders to shape global, regional, and industry agendas.

A

World Economic Forum

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13
Q

An international forum for governments and central bank governors from 19 countries and the European Union.

A

G20

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14
Q

Sets international labor standards and promotes social protection and work opportunities for all.

A

International Labour Organization (ILO)

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15
Q

Supports developing countries to access the benefits of a globalized economy more fairly and effectively.

A

United Nations Conference on Trade and Development (UNCTAD)

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16
Q

Promotes free trade and economic cooperation throughout the Asia-Pacific region.

A

APEC (Asia-Pacific Economic Cooperation)

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17
Q

An intergovernmental organization consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, focusing on economic policy.

A

G7 (Group of Seven)

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18
Q

A group of emerging economies working together on issues of mutual interest.

A

BRICS (Brazil, Russia, India, China, and South Africa)

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19
Q

One of the six principal organs of the United Nations, responsible for coordinating the economic, social, and related work of 15 UN specialized agencies.

A

ECOSOC (United Nations Economic and Social Council)

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20
Q

Similar to the G7 but includes Russia; however, Russia’s participation has been suspended since 2014.

A

G8 (Group of Eight)

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21
Q

A European research organization that operates the largest particle physics laboratory in the world.

A

CERN (European Organization for Nuclear Research)

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22
Q

Coordinates and unifies petroleum policies among member countries to ensure the stabilization of oil markets.

A

OPEC (Organization of the Petroleum Exporting Countries)

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23
Q

An international financial institution that fosters international monetary and financial cooperation and serves as a bank for central banks.

A

BIS (Bank for International Settlements)

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24
Q

Works in nearly 170 countries and territories to eradicate poverty and reduce inequalities through sustainable development.

A

UNDP (United Nations Development Programme)

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25
Q

A customs union, a single market, and now with a single currency.

A

European Union (EU)

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26
Q

Regional trade organization and free trade area consisting of four European states: Iceland, Liechtenstein, Norway and Switzerland.

A

European Free Trade Area (EFTA)

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27
Q

Between the USA, Canada, and Mexico.

A

North American Free Trade Agreement (NAFTA)

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28
Q

A customs union between Brazil, Argentina, Uruguay, Paraguay, and Venezuela.

A

Mercosur

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29
Q

trade bloc agreement among the Association of Southeast Asian Nations (ASEAN) members.

A

Association of Southeast Asian Nations (ASEAN) Free Trade Area (AFTA)

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30
Q

regional economic community comprising 21 African member states. Established in December 1994, It aims to promote regional integration through trade and the development of natural and human resources.

A

Common Market of Eastern and Southern Africa (COMESA)

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31
Q

Created in 2006 with countries such as India and Pakistan.

A

South Asian Free Trade Area (SAFTA)

32
Q

Established in 2013, a regional trade agreement between Chile, Colombia, Mexico, and Peru.

A

Pacific Alliance

33
Q

A proposed free trade agreement being negotiated during 2013 between Australia, Brunei, Chile, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.

A

Trans-Pacific Partnership (TPP)

34
Q

*“Global village”
*Communications technology
as “shrinking” our world
*“Cultural imperialism”

A

Scholar of Culture and Communication

35
Q

Media has connected the world in ways that created a ______ (McLuhan, 1964)

A

Global Village

36
Q

Who said that “Media has connected the world in ways
that created a global village”?

A

McLuhan, 1964

37
Q

This refers to the dominance of one culture over others, often as a result of colonization, globalization, or other forms of political or economic power

A

Cultural Imperialism

38
Q

Refers to the expansion
and intensification of
social relations and
consciousness across
world time and world
space (Steger,2013)

A

Globalization

39
Q

who said that “It refers to the expansion and intensification of
social relations and consciousness across
world time and world
space”?

A

(Steger,2013)

40
Q

Various forms of connectivity

A

Attributes of Globalization

41
Q

Expansion and stretching of
social relations

A

Attributes of Globalization

42
Q

Intensification and acceleration
of social exchanges and activities

A

Attributes of Globalization

43
Q

Occurs subjectively

A

Attributes of Globalization

44
Q

Diverse (can be economic, political, cultural, etc.)

A

Various forms of connectivity

45
Q

Enabled by various factors, pressures, media, etc.

A

Various forms of connectivity

46
Q

Uneven (different degrees of
interconnection)

A

Various forms of connectivity

47
Q

A. From snail mail to
Facebook
B. Live television
C. Increased travel (cheap
flights)

A

Intensification and Acceleration of Social Exchanges and Activities

48
Q
  • We think about the world
  • We associate ourselves with
    global trends (fan of K-Pop)
  • Hopefully, we feel some sense
    of responsibility (climate
    change)
A

Occurs Subjectively

49
Q

The different forms of connectivity and flows are different facets of globalization

A

being globalized

50
Q

Different “globalities” represent
different forms of globalization - Flusty (2004)

A

being globalized

51
Q

Depending on the globality, you
see a different dynamic

A

being globalized

52
Q

Liberation and integration of market

A

Globalization

53
Q

Inevitable and irreversible

A

Globalization

54
Q

Nobody is in charge.

A

Globalization

55
Q

Benefits everyone… in the long run!

A

Globalization

56
Q

Furthers the spread of Democracy

A

Globalization

57
Q

Nearly 23 trillion dollars accounts for the total
value of imports/exports that cross national
borders each year

A

Globalization Involving Us All

58
Q

Singapore
Ireland
Switzerland
United Kingdom
Netherlands
Canada
Denmark
Sweden
Austria
Finland

A

Top Ten Globalized Countries

59
Q

The process of integrating economies, cultures, and societies across the world

A

globalization

60
Q

Technological advancements

A

major driver of globalization

61
Q

The intensification of worldwide social relations linking distant locations

A

According to Steger, Manfred

62
Q

complex phenomenon that occurs at multiple levels. It is uneven process that affects people differently

A

globalization

63
Q

nationalist are resisting globalization, pertains to the integration of national market to a wider global market by an increase in free trade.

A

Newspaper Reports

64
Q

anti-globalization” movement in 1990’s, act of opposing trade deals among countries facilitated and promoted by international organization such as word trade org. (WTO)

65
Q

the expansion and intensification of social relations and consciousness across world-time and across world-space.

A

Manfred Steger

66
Q

creation of new social networks and multiplication of existing connections that cut across traditional political, economic, cultural, and geographic boundaries

67
Q

expansion, stretching, and acceleration of these networks

A

intensification

68
Q

globalization processes do not occur merely at an objective material level but they also involve in a subjective plane of human conciousness.

A

Steger notes

69
Q

different kinds of globalization occur on multiple and intersecting dimensions of integration that he calls “scapes”

A

Arjun Appadurai

70
Q

refers to the global movement of people

A

Ethnoscape

71
Q

flow of culture

A

Mediascapes

72
Q

circulation of mechanical goods and software

A

Technoscapes

73
Q

global circulation of money

A

Financescapes

74
Q

realm where political ideas move around

A

Ideoscapes

75
Q

between 1870 and 1914

A

First globalization

CONTEMPORARY WORLD (3 decks)

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