Chapter 9 Flashcards
(27 cards)
What is globalization?
when countries and economies rely on one another to increase inerdependnce
What are some benefits of globalization?
Rapid telecommunications
Increased travel and migration
Access to diverse commerce and food
What are some downsides of globalization?
Growing global inequality
Economic and cultural imperialism
Environmental degradation
Global financial crises
What is McDonaldization?
The spread of efficiency, predictability, and calculability principles from fast-food chains to other aspects of life.
What is glocalization?
The combination of global influences with local adaptations (e.g., McDonald’s having different menus in different countries).
What is regionalization?
The division of the world into competing economic, political, and cultural areas.
How do some countries resist globalization?
Canada enforces broadcasting laws to preserve national content.
France bans ketchup in school cafeterias to protect its cuisine.
What are examples of anti-globalization movements?
Protests against McDonald’s in multiple countries.
Populist movements opposing elite-driven global policies.
What is modernization theory?
Suggests that economic underdevelopment is due to a lack of Western-style values, investment, and governance.
What is dependency theory?
Argues that rich countries exploit poor countries, maintaining inequality.
What are core, peripheral, and semi-peripheral countries according to Wallerstein’s world systems theory?
Core: Major sources of capital and technology.
Periphery: Provide raw materials and cheap labor.
Semi-periphery: Former colonies making industrial progress.
What are multinational corporations (MNCs)?
Large businesses operating in multiple countries, often independent of national governments.
What are the five key characteristics of MNCs?
Dependence on foreign labor and production.
Focus on skills, technology, and management.
Reliance on world markets.
Use of massive advertising.
Growing autonomy from governments.
What is neoliberal globalization?
Economic policies favoring minimal government intervention, free markets, and foreign investment.
What is democratic globalization?
A model that links democracy with economic growth and reduced inequality.
What are some suggested measures to help poor countries?
Strict oversight of foreign aid.
Debt cancellation.
Tariff reductions.
How does democracy impact economic development?
Limits elite power abuse.
Encourages political stability for investment.
Promotes policies benefiting all social classes.
What is the debate between democracy and development?
Some argue democracy fosters economic growth, while others claim economic development must come first.
What are the three perspectives on the history of globalization?
Short view: Began in the 1980s.
Intermediate view: Result of industrialization and colonialism.
Long view: As old as civilization itself.
How has global inequality changed?
Global poverty has decreased, but individual income inequality has grown.
define imperialism
allows some countries to dominate others economically, politically, and culturally.
supply chain
a network of labour and production in the creation of a product and sale
What are Core Countries?
Core countries are the most developed nations with strong economies, advanced industries, and significant global influence. They exploit peripheral and semiperipheral countries for resources and labor. Examples include the U.S., Germany, and Japan.
What are Peripheral Countries?
Peripheral countries are the least developed, often dependent on exporting raw materials and cheap labor. They have weaker economies, low industrialization, and are exploited by core countries. Examples include many African and Latin American natio
