Introduction to Globalization

Question 1

The expansion and intensification and social relations and consciousness across world-time and across world space (Manfred Steger)

Answer 1

Globalization

Question 2

The Core Aspects of Globalization

Answer 2

• Globalization as economic process
• Globalization as a political process
• Globalization as a cultural process

Question 3

The increasing linkage of national economies through trade, financial flows and foreign direct investment by international firms (Gilpin 2000)

Answer 3

Globalization as economic process

Question 4

Two Types of Economy

Answer 4

Protectionism
Trade Liberalization

Question 5

Protecting one’s economy from foreign competition by creating trade barriers
Examples:
Egypt
India
Canada

Answer 5

Protectionism

Question 6

Reducing trade barriers to make international trade easier between countries
Example:
Philippines

Answer 6

Trade Liberalization

Question 7

When a business pays outside supplier to provide goods and services rather than doing the work in house

Answer 7

Product Outsourcing

Question 8

Development of forms of governance that operate at the global scale, whose policies and rules cooperative nations are expected to abide

Answer 8

Globalization as Political Process

Question 9

As a densely growing network of complex cultural interconnections and interdependencies that characterize modern social life

Answer 9

Globalization as Cultural Process