Unit 1: Globalization and Identity Flashcards
Define globalization.
An accelerated process, in which different societies become more interconnected and dependant on each other. Aided by advances in technology, this act is included by trade and economies.
What is the impact of globalization?
- loss to culture
- loss of language
- clash of societies
What is identity?
Sense of personal continuity over a course of time.
What is personal identity?
Yourself as a unique individual.
What is a collective?
Identity that you share with other people as a member of a larger group.
What are the two theories, regarding identity?
Expands identity and promotes understanding and cooperation.
Or
Decreasing diversity; disappearance of individual/ collective identities.
What happened in 1979/1980 in Canada?
Prime Minister shuts down privatization.
Opens up competition, brings price down.
What does IMF stand for?
International Monetary Fund
What does the IMF do?
Loans to countries in need.
Emergency loans.
Manages/collects data on banks and economies and currencies worldwide.
What is a structural adjustment loan?
A loan from the IMF.
Puts conditions on the money.
Has to make changes to cut costs in their country, and open to free market economies.
Three reasons for the increase in modern globalization.
- Multi- national corporations- global reach and increasing power.
- Travel and shipping - cheap and safe.
- Gov’t decreased tariff and reg. International trade
What role has government played in globalization?
Subsidizing.
Regulates / removes regulations (like tariffs)
Why is manufacturing outsourced?
Less regulations.
Cheaper labour in the developing world.
Cheap shipping.
What is the impact of government regulation?
Diminishes prosperity by limiting growth.
What is free trade?
Exchange of goods/service with elimination of tariffs.
What does free trade call for?
Removal of tariffs and regulations, also for privatizing government owned property.
Define trade.
Movement of goods/services between countries.
Define transport.
Movement of goods between countries.
Define communication.
Movement of info between people.
Define global media.
The organized broadcast of info/culture around the globe.
What is a transnational corporation?
A company that is based in one country while developing/ manufacturing its products, or delivering its goods/ services, in more than one country.
What is media concentration?
The trend that concentrated ownership of newspapers and other media in the hands of a few large corporations.
What is media convergence?
The use of electronic technology to integrate media such as newspaper, books, TV and Internet.
Why has there been a shift in manufacturing since the Industrial Revolution?
Formerly non-industrialized parts of the world have begun manufacturing not only for domestic market but for an international market as well. Previously, the domestic market accounted for a larger percentage of sales/purchases.
What has been the impact of globalization on people?
600 million emerge from poverty, created jobs were there weren’t.
Increased migration:
- easier to communicate
- more economic opportunities
Cultural blending.
Define remittance.
Money sent home from working abroad, driving factor in the first world.
What are some positives of globalization?
- longer life span
- more opportunities
- access to diverse culture
- diminished costs
- increased WW economic output
- first and second world no longer monopolize manufacturing