TCW Flashcards
A process that connects
different parts of the world through economic,
political, and cultural exchanges.
Globalization
Triumph of a capitalist
world economy, who is this?
Immanuel Wallerstein
It affects national economies, international
relations, and cultural interactions.
Globalization
Increasing linkage of national economies
Economic globalization
What are the key elements of ECONOMIC GLOBALIZATION
-FAST SPEED OF TRADE
■ GLOBAL ECONOMIC ORGANIZATIONS (IMF,
WTO, World Bank)
■ Multinational and transnational
corporations
■ Trade blocs (EU, ASEAN, NAFTA)
■ Free trade, privatization, and reduced
tariffs.
- Compression of time and space, who?
David Harvey
Accelerated growth of economic
activity across political boundaries, who?
Charles Oman
Intensification of worldwide
social relations.
Anthony Giddens
Varied phenomena under
globalization.
James H. Mittleman
Process by which people are
incorporated into a single world society.
Martin Albrow
Financial interlinking through cross-border
transactions
Paul Bairoch & Richard Kozul-Wrigh
Integration of economic activities
across international borders.
Peter Dicken
Internationalizing of production,
migration, and competition.
Robert Cox
- Global cultural process
Arjun Appadurai
Challenges the sovereignty of nation-states.
Strength of regional blocs (EU, ASEAN)
■ Emergence of global political norms
■ Multilateral and bilateral relations among
nations
■ Development of international laws and
global governance.
Political Globalization
The world becoming a “global village.”
Elements:
■ Cultural exchange and influence
■ Spread of cultural imperialism
■ Borderless communication (internet,
social media, live broadcasts)
■ Adoption of different cultures.
Cultural Globalization
The spread of technological advancement and innovations across countries driven by the need to stay competitive in a global market this includes advancements in communication transportation and production technologies.
Technology and innovation
It is a multiphasted phenomenon that is influenced by economic political and cultural processes or shaping how individuals communities and nations interact globally
Globalization
It operates multiple countries seeking to maximize profits through global production networks and supply chains. This corporations often invest in various countries bringing capital technology and employment
Multinational corporations (MNCs)
The expansion of international trade and establishment of global markets for goods and services
This includes the reduction of trade barriers tariffs and import quotas leading to freer flow of goods and services across borders
Trade and investment
This process highlights the dynamic and adaptive nature of cultures in a globalized world
Cultural hybridation
The tendency towards a uniform global culture often driven by the dominance of western cultural products and media this can lead to the erosion of local cultures and identities
Cultural homogenization
The increase insurrection and exchange of cultural practices ideas and values between different societies this includes the spread of languages food music fashion and traditions
Cultural exchange
The role of global media networks and the internet
Media and communication
Refers to the spread and interaction of cultural elements across the globe
Cultural process
Encourages countries to harmonize their trade policies by reducing tariffs subsidies and other barriers to international trade leading to a more open and predictable global trading system
World trade organization agreements
A convergence of environmental policies where countries commit to limiting global warming to below 2° c above pre-industrial levels
Paris agreement on climate change
It is a specialized agency of the united nation responsible for international public health
World health organization
It is an independent international tribunal that prosecutes individuals for genocide crimes against humanity war crimes and crimes of aggression
Establish and international law and justice to hold perpetrators of serious crimes
International criminal court or icc
Who argues that capitalism has a predominantly negative impact particularly on certain groups and regions
Wallerstein
Increase movement of capital across borders including foreign direct investment portfolio investment and international banking. It also involves the integration of financial markets allowing for more rapid and extensive capital flows
Financial flows
It involves how political relationships and structures adapt to the globalized world
Political process
