Lesson 1-2 Flashcards
According to him, globalization is the spread of products, investment, and technology acros national borders and countries
Minnesota
Globalization comes from the word ___, which means the emergence of countries and rations across the world
Globe or globalize
With this, the barter or exchange of goods and products between countries are made possible so the world gets closer together
Globalization
(true or false) like goods and products, some individual elements like traditions, languages, cultural beliefs, norms, or values also influence each other
True
What are the 6 aspects of globalization? (Chronological order)
Industrial globalization (transnational globalization), financial globalization, political globalization, globalism, informational globalization, cultural globalization
Process linked by interconnected cross-border production and it enables firmness to enter into new markets, to capitalize on technological organizational advantages, and to reduce cost
Industrial globalization (transnational globalization)
Refers to international lending institutions for capital outlay to developing countries like IMF (International Monetary Fund) and World Bank.
Financial globalization
Refers to the growth of the worldwide political system both in size and complexity like civil society, international non-governmental organizations, social movements, or the United Nations
Political globalization
The operation or planning of economic and foreign policy on a global basis
Globalism
According to Joseph Nye, this is refers to descriibe attempts to understand the interconnectedness of the world in terms of transportation and communication
Globalism
Process of interaction and integration among people, companies, and government, of different nations; a process driven by international trade and aided by informational technology
Informational globalization
Refers to the transmission of ideas, meanings, and values around the world in a way as to expand and intensify social relations
Cultural globalization
Globalization started as early as
15th century
Favoured more the exchange of knowledge than the exchange of goods
First phase of globalization
What are the significant event happened in the first phase of globalization?
The Spanish and Portuguese discovery of America, introduction of Gregorian calendar, and the heliocentric view of solar system
Generally linked with the events of democracy, industrialization, and scientific progress
18th and 19th century
When did American Declaration of Independence occur?
1776
Industrialization took place
19th century
Gave the world an opportunity to a prominent technological progress that allowed countries to experience a faster exchange between goods, products, and information
Industrialization
What four advancing technologies planted entirety of the world in the 2nd half of 19th century?
Trains, steamships, telegraph, and postal system
an oppulent and affluent inhabitant in London has access to products or foreign origins before the events of August 1914 that disturbed the world of global connectivity
20th century
Third phase of globalization took place
end of second world war (1945)
When does Golden Age of Capitalism occur?
late 1940s to early 1970s
new international financial agreements and institutions, provided a new kind of global financial stability
IMF (International Monetary Fund) and World Bank