S3. Espace Mondial shaped by Globalization: turbulence and governance Flashcards
How is globalization discussed in this session?
Globalization is discussed as not a new phenomenon. In fact, we have had many waves of globalization in history. Among the waves of globalization include colonial expansion.
What century does the first globalization happens because there is a reduction of transport costs? With the development of railroads, technological changes that which made it easier for people to trade goods.
Globalization in the end of the 19th century
What other events marked the globalization in the end of the 19th century
Financial integration started to accelerate because we have established the gold standard, this contributed to explosion of trade. Exchange rate was therefore stabilized, and it became easier for people to trade.
Another event is the interconnectedness between societies and not just economies. This is largely because the emergence of mass media (newspaper, radios). Society then started to know more about each other.
What are the two kinds of globalization that this session introduced to us?
- Globalization Modality (Capitalism)
- Globalization Principle (Communication)
What kind of globalization that has two waves. The first wave was industrialization and came to end in WWI. The second wave was protectionism where trade was more regionalize and after the WWII it was supported by the Bretenwood agreement.
Globalization Modality (Capitalism)
What kind of globalization talks about the increased communication and the increase in mass media.
Globalization principle (Communication)
Was coined by the Canadian media theorist Marshall McLuhan in the 1960s. It describes the phenomenon of the entire world becoming more interconnected as a result of the propagation of media technologies.
Global village
A term that describes the slowing down of globalization. It refers to the reduction in the pace of global integration, which includes trade, capital flows, and international cooperation.
Slowbalization
When did the trend of slowbalization started happened?
Slowbalization started to happen since the global financial crisis of 2008 and it has been further influenced by factors such as geopolitical tensions, the COVID-19 pandemic, and a growing emphasis on sustainability.
Who is the prominent economist that discuss the concept of four kinds of globalizations?
Dani Rodrik
What concept talks about the political trilemma of the global economy? According to this concept, it is impossible to achieve full economic integration, national sovereignty, and democratic politics simultaneously.
Feasible Globalizations
What are the four kinds of globalization that Dani Rodrik talked about?
- Globalization à la Washington Consensus
- Globalization à la Bretton Woods
- Globalization à la European Union
- Globalization à la Feasible Globalizations
This model emphasizes full economic integration with minimal government intervention, prioritizing global markets over national policies
Globalization à la Washington Consensus
This approach involves a balance between economic integration and national sovereignty, with some global rules and institutions to manage economic interactions.
Globalization à la Bretton Woods
This model combines economic integration with supranational governance, where member states cede some sovereignty to a higher authority for collective decision-making.
Globalization à la European Union