L2: Interrogating Globalization Flashcards
An idea of prescribed path to attain development through certain set of activities, acc to a defined vision
Development Paradigms
Mainly conceptualized as ontensified transference or exchange of things across existing boundaries
Globalization
How is the integratoom of economies throughout the world achieved?
Through trading and financial flows across borders
What does GDP mean?
Gross Domestic Product
Complex global process of expanding the market economic system all throughout the world
Economic Globalization
Economic system that gives freedom to entreps to control productive process to pursue profit
Market Economy
What are the important aspects of glibalization?
Global trading, Capital Flows, Movement of People
What is enabled by intl fiscal payments where private banks and central banks of particular nation play impt roles?
Intl Trading
Concernes importation and exportsation
Global trading
The world saw an increase in world trade from ______
1971 to 1999
One manifestation of capital movement is
Foreign investment
What are the three categories of foreign investment
1) Commercial loans
2) Official flows
3) Foreign direct investment
Money lent to foreign businesses or govs
Commercial Loans
Refer to development aid or money granted by rich countries to developing nation
Official Flows
Refers to buying or putting up a firm in a foreign country or contributing to the enhancement of an existing firm
Foreign direct investment
Businesses that operate in more than one country
Transnational corporsations
The number of OFW during April to Sept 2018
2.3M
Refers to the increasing contact between people and their cultures, ideas, values, ways of life
Cultural Goonalization
The enlargment of the itl political system and its establishments
Political Globalization
Facilitate investment of capital for member countries
World Bank
Programs imposed on poor countries that require their governments to prioritize repaying debts
SAP (Structural Adjustment Policies)
Provide short-term emergency loans
International Moneyary Fund IMF
Create rules for global trade and invstmnt; aim to reduce tariffs
WTO
What are the objectives of global financial and trading instituitions
1) Enforce common trading and financial flow standards and policies to all countries
2) Deregulate firms
Outcomes of lessening gov control over businesses
Neglect of environment, low wage, unstable employment, etc
