The Contemporary World Flashcards
Friday
refers to our world with the circumstances and ideas of the present age, as in the phrase “in modern times like these”.
The contemporary world
an umbrella term denoting the growing modern interconnectedness of nations, people, and markets. It also refers to the process of interaction and integration among companies, and governments worldwide.
Globalization
an international trade left to its natural course, that is, without tariffs, quota, or other restrictions.
free trade
the strongest indirect agent of socialization in the contemporary globalized world. They influence our lives to a great extent as we tend to learn a lot from international newspapers, magazines, radio, internet, and television.
Mass media
has enabled globalization. Since the turn of the 20th century, there have been international market integration and widespread cultural exchange. Much of what is distinct about present-day globalization can be traced to technological innovations.
Technology and Internet
computer-and-Internet-mediated tools that allow people to generate, share and exchange information,
Social media
“the use of dedicated websites and applications to interact with other users, or to find people with similar interests to oneself”
Social networking
refers to the phenomenon in which people migrate from one country to another for the purpose of temporary labor, in which they simultaneously participate in social connections in multiple nations.
Transnational migration
an economic and political system in which the industry and trade are controlled not by the state but by private
owners for profit.
Capitalism
politically oriented violence or threat of violence it undoubtedly causes change in society as it involves the purposeful creation and exploitation of fear for bringing about socio-political change.
Terrorism
refers to membership group that function across national borders for well-defined purposes.
International organization
2 categories of international organization
- The intergovernmental organizations
- The international non-governmental organizations
refers to the full power and right of the government body over itself, without any intrusion from outside bodies or sources.
Sovereignty
a branch of philosophy that studies, morality, or the rightness, or wrongness of human conduct.
Ethics
it refers to the system of trade and industry around the globe that has developed as the outcome of globalization, that is, the manner in which economies have been developing to function together as seemingly one system.
Global Economy
“a historical process, the result of human innovation and technological process.”
economic
globalization
is said to be functional integration among globally distributed activities. a qualitative transformation
economic
globalization
the extension of economic activities of nation states across borders, a quantitative change
internationalization
Comprise national governments as members (e.g., UN, World Bank, IMF, WTO, NATO).
Formed by treaty to address common concerns like security, peace, and economic issues.
International Governmental Organizations (IGOs)
Non-state institutions with global missions (e.g., Greenpeace, Red Cross, International
Olympic Committee).
Focus on human rights, social services, community development, and
environmental protection.
International Non-Governmental
Organizations (INGOs)
Companies operating in multiple countries with headquarters in one “home” country.
Multinational Corporations (MNCs)
borderless, with no
specific home country.
Decentralized operations with significant influence over global trade and economic
policies.
Transnational Corporations (TNCs)
the removal or reduction of restrictions or barriers, such as tariffs, on the free exchange of goods between nations.
Trade liberalization
what are the theories of globalization
World-systems theory, modernization theory, and dependency theory
