PRELIMINARY EXAM Flashcards
To journalists, it refers to the integration of national markets into global markets, often associated with increased free trade.
Globalization
An agreement between two or more nations to reduce barriers to imports and exports among them.
Free Trade
Whose perspective that used as an interdisciplinary approach to define Globalization process as the expansion and intensification of social relations.
Manfred Steger
Refers to both the creation of new social networks & the multiplication of existing connections that cut across traditional borders.
Expansion
Refers to the expansion, stretching, and acceleration of these networks.
Intensification
Globalization occur on multiple and interesting dimensions of integrations called what?
Scapes (Flow)
Who posits that Globalization occur on intersecting dimensions called “scapes”?
Arjun Apparudai
Refers to the global movement of people
Ethnoscape
about the flow of culture or media
Mediascape
Refers to the circulation of mechanical goods and software.
Technoscape
Denotes the global circulation of money.
Financescape
Realm where political ideas move around.
Ideoscape
According to Steger, it is an ideology, a widespread belief among powerful people that the global integration of economic markets is beneficial for everyone.
Globalism
A complicated, intersecting, confusing process.
Globalization
Criticisms are geared towards the manifestation of what?
Globalism
According to IMF, a historical process representing the result of human innovation and technological progress.
Economic Globalization
The first indicator of economic globalization.
Increase of GDP
2nd indicator of Economic Globalization
Investments are moving all around the World
3rd indicator of Economic Globalization
speed and frequency of trading
When did full economic globalization begin?
Galleon Trade, 1571
It connected Manila to Acapulco, Mexico. The first time the Americas were connected to Asian trading routes.
Galleon Trade
System of global trade with multiple restrictions (such as imposition of high tariffs and etc.)
Age of Mercantilism
It seeks to create a global economic system that would ensure a longer-lasting global peace.
Bretton Wood System
Who influenced the creation of Bretton Wood System?
Maynard Keynes
He believes that economic crises occur not when a country does not have enough money, but when money is not being spent.
John Maynard Keynes
Two financial systems created by The Bretton Wood Sytems:
International Bank for Reconstruction and Development (World Bank) & International Monetary Fund (IMF)
Shortly after Bretton, countries commit to ______, which aims to reduce tariffs and other hindrances to free trade.
General Agreement on Tariffs and Trade