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(3Wednesday) TCWD > Week 2 & 3 The Global Economy > Flashcards

Week 2 & 3 The Global Economy Flashcards

1
Q 
DEFINING \_\_\_\_\_\_\_
Over the years:
Progress
Development
Integration
A 
DEFINING GLOBALIZATION
Over the years:
Progress
Development
Integration
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2
Q

Thomas Larsson

The process of world _______, of distances getting _______, things moving _______.

A

Thomas Larsson

The process of world shrinkage, of distances getting shorter, things moving closer.

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3
Q

It pertains to the increasing _______ with which somebody on one side of the world can interact with _______ _______ with somebody on the other side of the world

A

It pertains to the increasing ease with which somebody on one side of the world can interact with mutual benefit with somebody on the other side of the world

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4
Q

MARTIN KHOR
Occurring through and with regression, _______, and _______
Globalizaton as _______

A

MARTIN KHOR
Occurring through and with regression, colonialism, and destabilization
Globalizaton as colonialism

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5
Q

_______ and _______- can include variety of issues but does not shed light on the implications due to its vagueness

A

Broad and Inclusive- can include variety of issues but does not shed light on the implications due to its vagueness

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6
Q

_______ and _______- better justified but can be limiting due to their application adhere to only particular definitions

A

Narrow and Exclusive- better justified but can be limiting due to their application adhere to only particular definitions

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7
Q

Ohmae (1992)

_______ means the onset of borderless world (_______ and _______)

A

Ohmae (1992)

Globalization means the onset of borderless world (broad and inclusive)

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8
Q

_______ (2015):
Globalization is a _______ process or a set of processes involving increasing _______ and the growing multidirectional _______ of people

A

Ritzer (2015)
Globalization is a transplanetary process or a set of processes involving increasing liquidity and the growing multidirectional flows of people

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9
Q

_______ (1992), in his article, Globalization: Social Theory and Global Culture,
defined globalization as the “understanding of the world and the increased perception of the world as a whole.”

A

Robertson (1992), in his article, Globalization: Social Theory and Global Culture,
defined globalization as the “understanding of the world and the increased perception of the world as a whole.”

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10
Q

_______ (1990)
defined globalization as “all those processes by which the people of the world are incorporated into a single world society. This means that peoples around the globe live in a borderless community.

A

Albrow and King (1990)
defined globalization as “all those processes by which the people of the world are incorporated into a single world society. This means that peoples around the globe live in a borderless community.

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11
Q

_______

Refers to barriers that prevent or make difficult the movement of things

A

SOLIDITY

Refers to barriers that prevent or make difficult the movement of things

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12
Q

_______

Refers to the increasing ease of movement of people, things, information, and places in the contemporary world

A

LIQUIDITY

Refers to the increasing ease of movement of people, things, information, and places in the contemporary world

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13
Q

_______
Are movement of people, things, places, and information brought by the growing “ porosity” of global limitations (Ritzer, 2015)

A

FLOWS
Are movement of people, things, places, and information brought by the growing “ porosity” of global limitations (Ritzer, 2015)

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14
Q

Refers to the increasing sameness in the world as cultural inputs, economic factors, and political orientations of societies expand to create common practices, same economies, and similar forms of government.

A

HOMOGENEITY

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15
Q

_______ in culture is linked to cultural imperialism

A

Homogeneity

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16
Q 
Christianity  brought by Spaniards
Americanization
One size fits all by IMF
McWorld- one political orientation
Global Flow of Media- imposed by West
McDonaldization
A

Homogeneity

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17
Q

Creation of various cultural practices, new economies, and political groups because of the interaction of elements from different societies in the world.

A

HETEROGENEITY

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18
Q

Cultural Hybridization

A

HETEROGENEITY

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19
Q

THE _______ CORE CLAIMS OF MARKET GLOBALISM

A

THE FIVE CORE CLAIMS OF MARKET GLOBALISM

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20
Q

The Five Core Claims of Market Globalism:

1.Globalization is about the _______ and global _______ of market.

A

1.Globalization is about the liberalization and global integration of market.

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21
Q

The Five Core Claims of Market Globalism:
This perspective explains the relevant functions of free market-its rationality and efficiency, as well as its alleged ability to bring about greater social integration and material progress-can only be realized in a democratic society that values and protects individual freedom.

A

1.Globalization is about the liberalization and global integration of market.

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22
Q

The Five Core Claims of Market Globalism:

anchored in the neo—liberal ideal of self-regulating market as the normative basis for a future global order.

A

1.Globalization is about the liberalization and global integration of market.

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23
Q

The Five Core Claims of Market Globalism:

2. Globalization is in_______ and irr_______.

A
  1. Globalization is inevitable and irreversible.
24
Q

The Five Core Claims of Market Globalism:
The market-globalist perspective sees globalization as the spread of irreversible market forces driven by technological innovations that make the global integration of national economies inevitable. As a matter of fact, market globalism is always interlaced with a belief that markets have the capacity to use new technologies to solve social problems.

A

2.Globalization is inevitable and irreversible.

25
Q

The Five Core Claims of Market Globalism:

This claim highlights the semantic link between ‘globalization-market’ and the adjacent idea of ‘leaderlessness’.

A
  1. Nobody is in charge of globalization
26
Q 
The Five Core Claims of Market Globalism:
Robert Hormats (1998) opined that ‘The great beauty of globalization is that no one is in control.’ This only means that no individual, no government or no institution has the control over globalization.
A
  1. Nobody is in charge of globalization
27
Q 
The Five Core Claims of Market Globalism:
Thomas Friedman (1999:112-3) emphasized that the most basic truth about globalization is this: ‘No one is in charge…But the global marketplace today is an Electronic Herd of often anonymous stock, bond, and currency traders and multinational investors, connected by screens and networks.’
A
  1. Nobody is in charge of globalization
28
Q

The Five Core Claims of Market Globalism:

3. _______ is in charge of globalization

A
  1. Nobody is in charge of globalization
29
Q

The Five Core Claims of Market Globalism:

4. Globalization _______ everyone.

A
  1. Globalization benefits everyone.
30
Q

The Five Core Claims of Market Globalism:

This lies at the heart of market globalism and represents a ‘good’ phenomenon.

A
  1. Globalization benefits everyone.
31
Q

The Five Core Claims of Market Globalism:

Globalization provides great opportunities for the future, not only for our countries, but for all others, too.

A
  1. Globalization benefits everyone.
32
Q

The Five Core Claims of Market Globalism:
Its many positive aspects include an unprecedented expansion of investment and trade; the opening up to international trade of the world’s most populous regions and opportunities for more developing countries to improve their standards of living; the increasingly rapid dissemination of information, technological innovation, and the proliferation of skilled jobs.

A
  1. Globalization benefits everyone.
33
Q

The Five Core Claims of Market Globalism:

5. Globalization furthers the spread of _______ in the world.

A
  1. Globalization furthers the spread of democracy in the world.
34
Q 
The Five Core Claims of Market Globalism:
Francis Fukuyama (2000) stressed that there exists a ‘clear correlation’ between the country’s level of economic development and successful democracy. While globalization and capital development do not automatically produce democracies, ‘the level of economic development resulting from globalization is conducive to the creation of complex civil societies with a powerful middle class. It is this class and societal structure that facilitates democracy’.
A
  1. Globalization furthers the spread of democracy in the world.
35
Q

The Five Core Claims of Market Globalism:
The former First Lady Hillary Rodham Clinton (1999) praised the Eastern Europe’s economic transition towards capitalism by saying, “The emergence of new businesses and shopping centers in former communist countries should be seen as the ‘backbone of democracy.’

A
  1. Globalization furthers the spread of democracy in the world.
36
Q

_______ OF LOCAL AND GLOBAL CULTURE

A

DYNAMICS OF LOCAL AND GLOBAL CULTURE

37
Q

Emphasizes that cultures are essentially different and are superficially affected by global flows

A

CULTURAL DIFFERENTIALISM

Emphasizes that cultures are essentially different and are superficially affected by global flows

38
Q

Emphasizes the integration of local and global cultures

_______ global and local) - creating a unique outcomes in different geographic areas

A

CULTURAL HYBRIDIZATION
Emphasizes the integration of local and global cultures
Glocalization ( global and local) - creating a unique outcomes in different geographic areas

39
Q

Stresses on homogeneity introduced by globalization
Cultures are deemed to be radically altered by strong flows
deterritorialization

A

CULTURAL CONVERGENCE
Stresses on homogeneity introduced by globalization
Cultures are deemed to be radically altered by strong flows
deterritorialization

40
Q

For the past centuries, the global economy has _______ changed.
In the 11th century, the long distance _______ flourished between Venice and the Netherlands.
The woolen industry in the 13th century in Flanders
14th century in Florence
Those global changes have contributed much to the economy of the world. There was the birth of _______

A

For the past centuries, the global economy has significantly changed.
In the 11th century, the long distance trading flourished between Venice and the Netherlands.
The woolen industry in the 13th century in Flanders
14th century in Florence
Those global changes have contributed much to the economy of the world. There was the birth of CAPITALISM

41
Q

In _______ _______ journal:
The Global Economy: Organization, Governance, and Development
> he mentioned that the _______ changes are attributed to how the global economy is _______and governed. He furthered that these changes give impact not only to the flow of goods and services _______ national borders, but also the implications of these processes for how a particular _______ move up or down in the international scene.

A

In Gary Gereffi’s journal:
The Global Economy: Organization, Governance, and Development
> he mentioned that the global changes are attributed to how the global economy is organized and governed. He furthered that these changes give impact not only to the flow of goods and services across national borders, but also the implications of these processes for how a particular country move up or down in the international scene.

42
Q

According to _______, the global economy can be studied at different levels of analysis.

A

According to Gereffi, the global economy can be studied at different levels of analysis.

43
Q

(Macro/Meso/Micro)

this includes the international organizations and regimes that establish rules and norms for the global community.

A

MACRO LEVEL

44
Q

(Macro/Meso/Micro)
The World Bank, the International Monetary Fund, the World Trade Organization, and the International Labor Organization are the existing international organizations that make impact to the economy of the world.

A

MACRO LEVEL

45
Q

(Macro/Meso/Micro)
The regional integration schemes like the European Union and the North American Free Trade Agreement are also part of these organizations. Since these regimes blend both the rules and resources, they substantiate the widest parameters within which the global economy operates.

A

MACRO LEVEL

46
Q

(Macro/Meso/Micro)

it is believed that the building blocks for the global economy are the countries and firms.

A

MESO LEVEL

47
Q

(Macro/Meso/Micro)

The global economy is seen as the arena in which countries compete in different product markets.

A

MESO LEVEL

48
Q

(Macro/Meso/Micro)
There is a growing literature on the resistance to globalization by consumer groups, activists, and transnational social movements.

A

MICRO LEVEL

49
Q

(Macro/Meso/Micro)
Therborn (2000) expressed, “There are many theories related to economic sociology incorporate the global economy in their frameworks, but they differ in the degree to which it is conceptualized as a system that shapes the behavior and motivation of actors inside it, or as an arena where nationally determined actors meet, interact, and influence each other.”

A

MICRO LEVEL

50
Q

In _______ systems theory, the _______ countries are the industrialized capitalist countries on which periphery countries and semi-periphery countries depend. _______ countries control and benefit from the global market. They are usually recognized as _______ nations with a wide variety of resources and are in a _______ location compared to other states. They have _______ state institutions, a _______ military and _______ global political alliances.

A

In world systems theory, the core countries are the industrialized capitalist countries on which periphery countries and semi-periphery countries depend. Core countries control and benefit from the global market. They are usually recognized as wealthy nations with a wide variety of resources and are in a favorable location compared to other states. They have strong state institutions, a powerful military and powerful global political alliances.

51
Q

(Core, Semi-Periphery, Periphery)
Austria Belgium Canada Denmark Finland France Germany Greece
HongKong Iceland Ireland Israel Italy Japan Luxembourg Netherlands
New Zealand Norway Singapore Spain Sweden Switzerland
United Kingdom United States

A

CORE COUNTRIES

52
Q

In _______-systems theory, the _______-_______countries are the industrializing, mostly _______ countries which are positioned _______ the periphery and core countries. _______-_______ countries have organizational characteristics of both core countries and periphery countries and are often _______ _______ between core and peripheral regions as well as between two or more competing _______ regions. _______-_______ regions play a major role in mediating economic, political, and social activities that link core and peripheral areas.

A

In world-systems theory, the semi-periphery countries (sometimes referred to as just the semi-periphery) are the industrializing, mostly capitalist countries which are positioned between the periphery and core countries. Semi-periphery countries have organizational characteristics of both core countries and periphery countries and are often geographically located between core and peripheral regions as well as between two or more competing core regions.Semi-periphery regions play a major role in mediating economic, political, and social activities that link core and peripheral areas.

53
Q 
(Core, Semi-Periphery, Periphery)
Argentina
Brazil
China
India
Indonesia
Iran
Mexico
South Korea
South Africa
Taiwan
A

Semi-Periphery

54
Q

In _______ systems theory, the _______ countries are those that are _______ developed than the _______-_______ and _______ countries. These countries usually receive a disproportionately _______ share of global wealth. They have weak state institutions and are dependent on – according to some, exploited by – more developed countries. These countries are usually behind because of obstacles such as lack of technology, unstable government, and poor education and health systems.

A

In world systems theory, the periphery countries (sometimes referred to as just the periphery) are those that are less developed than the semi-periphery and core countries. These countries usually receive a disproportionately small share of global wealth. They have weak state institutions and are dependent on – according to some, exploited by – more developed countries. These countries are usually behind because of obstacles such as lack of technology, unstable government, and poor education and health systems.

55
Q

In some instances, the exploitation of periphery countries’ agriculture, cheap labor, and natural resources aid _______ countries in remaining dominant. This is best described by dependency theory, which is one theory on how globalization can affect the world and the countries in it. It is, however, possible for _______ countries to rise out of their status and move into semi-periphery or core status. This can be done by doing things such as _______ , _______ the government and political climate, etc.

A

In some instances, the exploitation of periphery countries’ agriculture, cheap labor, and natural resources aid core countries in remaining dominant. This is best described by dependency theory, which is one theory on how globalization can affect the world and the countries in it. It is, however, possible for periphery countries to rise out of their status and move into semi-periphery or core status. This can be done by doing things such as industrializing, stabilizing the government and political climate, etc.

56
Q

(Core, Semi-Periphery, Periphery)
Afghanistan Albania Algeria Angola Bahrain Bangladesh Barbados Belarus Belize Benin Bolivia Botswana Bulgaria Burkina Faso Burundi Cambodia Cameroon Central African Republic Chad Chile Colombia Congo Costa Rica Cote d’Ivoire Croatia Cuba Cyprus Czech Republic Dominican Republic Ecuador Egypt El

A

Periphery

(3Wednesday) TCWD (5 decks)

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