Contemporary World Flashcards
(98 cards)
1
Q
the changes in societies and the world economy that the result of increased trade and cultural exchange.
A
Globalization
2
Q
Sign of globalization
A
- International agreements like WTO & OPEC
- increase in international trade
- increase in international flow of capital
- greater transborder data flow in technology
- greater international travel and tourism
- greater international cultural exchange ex. Hollywood
- Development of global telecommunications infrastructure
- Development of global financial system
- terrorism
- spreading multicultural
3
Q
activist were constricting the freedoms of individuals
A
Anti-globalization
4
Q
Supporters of free trade, specifically leads to lower prices and more employments
A
Pro - globalization
5
Q
The Philippines joined WTO in 1995
- Filipino and foreign companies has emerged in the nation in order to help the country’s developing economy.
A
-Globalization in the Philippines
6
Q
ADVANTAGE OF GLOBALIZATION
A
Peaceful Relation
Employment
Education
Product Quality
Cheaper Price
Communication
Transportation
GDP increase
Free Trade
Travel and Tourism
External borrowing
7
Q
building a relationship with other country
A
Peaceful Relation
8
Q
Companies are moving towards the developing countries to
acquire labor force.
A
Employment
9
Q
for better opportunities
A
Education
10
Q
Enhanced product quality to retain costumers
A
Product Quality
11
Q
brought competition to the market
A
Cheaper Price
12
Q
internet connects and provide us information
A
Communication
13
Q
transportation vehicle or delivery vehicle that imports & export
A
Transportation
14
Q
money value that produce from domestic territory
A
GDP increase (gross domestic product)
15
Q
no import/export taxes, to lower the price cost
A
Free Trade
16
Q
to attracts tourist to the country
A
Travel and Tourism
17
Q
corporate’s borrower will have a better access in loans etc
A
External borrowing
18
Q
DISAVANTAGES OF GLOBALIZATION
A
Health Issues
Loss of Culture
Uneven wealth Distribution
Environmental Degradation
Disparity
Conflict
Cut-throat competition
19
Q
rises the health risk and epidemics like HIV/AIDS
A
Health Issues
20
Q
tend to adapt other countries culture and forgetting our own
A
Loss of Culture
21
Q
not able to reduce poverty
A
Uneven wealth Distribution
22
Q
industrial revolution in which they using the natural resources
A
Environmental Degradation
23
Q
factories moved to another country where cheaper labor
A
Disparity
24
Q
terrorism and violence like ISIS
A
Conflict
25
intense competition among countries where other don’t have the potential to export
Cut-throat competition
26
THE (3) COMPONENTS OF GLOBALIZATION
-ECONOMIC GLOBALIZATION
-CULTURAL / SOCIAL GLOBALIZATION
-POLITICAL GLOBALIZATION
27
# e****** G****
It refers to the widespread of international movements of goods, capital, services, technology and information.
ECONOMIC GLOBALIZATION
28
These (9) primarily comprises the economic globalization
## Footnote
PFMORCLTI
1. Production
2. Finance
3. Markets
4. Organizational
5. Regimes
6. Corporations
7. Labor
8. Technology
9. Institutions
29
INSTITUTION OF GLOBALIZATION
-WORLD BANK
-INTERNATIONAL MONETARY FUND (IMF)
-WORLD TRADE ORGANIZATION (WTO)
30
also called International Bank for Reconstruction and Development (IBRD)
Increases in economic growth and decreases poverty in developing countries
THE WORLD BANK
31
IBRD
International Bank for Reconstruction and Development
32
An international organization dedicated to providing financing, advice and research to developing nations to aid their economic advancement.
THE WORLD BANK
33
Why WORLD BANK came into existence?
To fund reconstruction efforts to countries has been destroyed.
34
What was the first "Multilateral Development Bank. "Before World War II had ended
The International Bank for Reconstruction and Development
35
Who are the two conceptualized an international institution to stabilize exchange rates and provide a source of financing for reconstruction and development among countries ravaged by the war.
Harry Dexter White and John Maynard Keynes
36
The world bank quote
"Working for a World Free of Poverty"
37
-To provide loans, long-run capital to member countries for economic reconstruction and development and to assuring Balance of Payments (BOP) equilibrium
OBJECTIVES OF THE WORLD BANK
38
➤Granting reconstruction loans to war devastated countries.
➤Granting developmental loans to underdeveloped countries.
➤Providing loans to governments for agriculture, irrigation, power, transport, water supply, educations, health, etc
FUNCTION OF THE WORLD BANK
39
WORLD BANK’S TOP BORROWERS
© 2017 The World Bank Group
1. PERU
2. INDIA
3. CHINA
4. INDONESIA
5. UKRAINE
40
What top are the philippines in terms of barrowers?
Top 13
41
General Agreement on Tariffs and Trade (GATT) is also known as?
WORLD TRADE ORGANIZATION (WTO)
42
Deals with the rules of trade between nations, settles trades disputes and conduct straight negotiations
WORLD TRADE ORGANIZATION (WTO)
43
1.to set and enforce rules for international trade,
2.to provide a forum for negotiating and monitoring further trade liberalization,
3.to resolve trade disputes,
4.to increase the transparency of decision-making processes,
5.to cooperate with other major international economic institutions involved in global economic management, and
6.to help developing countries benefit fully from the global trading system.
The six key objectives of WTO
44
organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
INTERNATIONAL MONETARY FUND (IMF)
45
The IMF's main goal is to ensure the?
the stability of the international monetary and financial system.
46
refers to the transmission of ideas, meanings, and values and cultural products across around the world in such a way to extend and intensify social relations
CULTURAL GLOBALIZATION
47
This process is marked by the common consumption of mono-cultures that have been diffused by the internet, popular culture media, and international travel, entertainment transnational marketing of particular brands and international tourism – that transcends local cultural traditions and lifestyles, and that shapes the perceptions, aspirations, tastes and everyday activities of people wherever they may live in the world.
CULTURAL GLOBALIZATION
48
ASPECTS OF CULTURAL GLOBALIZATION
1.MIGRATION
2.THE GLOBALIZATION OF FOOD
3. THE GLOBALIZATION OF SPORT
49
This is an important aspect of cultural globalization and This process has been going on for several centuries, with languages, religious beliefs, and values being spread by military conquest, missionary work, and trade.
MIGRATION
50
The spread of these GLOBAL FOOD corporations has arguably led to the decline of local diets and eating traditions
THE GLOBALIZATION OF FOOD
51
52
most notably the World Cup and The Olympics, which bind millions together in a shared, truly global, leisure experience.
THE GLOBALIZATION OF SPORT
53
It refers to the growth of the worldwide political system that includes:
1. National governments
2. Their governments
3. Intergovernmental organizations
4. Government-independent of elements of global civil society
POLITICAL GLOBALIZATION
54
The creation and existence of the United Nations (UN) has been called one of the classic examples of
Political globalization
55
To maintain international peace and security and Promoting human right and global development
UNITED NATIONS AND ITS ROLE IN GLOBALIZATION
56
When was the international organization created?
October 24,1945
57
How many member does the United Nation (UN) have?
193 sovereign states
58
the world’s largest intergovernmental organization which is based in New York (Headquarter)
The United Nations (UN)
59
The free movement of goods, capital, services, technology, and information?
GLOBAL ECONOMY
60
APEC
Asia-Pacific Economic Cooperation
61
ASEAN
Association of Southeast Asian Nations
62
The economy of the Philippines is the world’s___largest economy by nominal GDP according to the 2017 estimate of the International Monetary Fund’s statistics,
34th
63
6th richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia
The Philippines
64
primarily considered a newly industrialized country, which has an economy in transition from one based on agriculture to one based more on services and manufacturing.
| 123
PHILIPPINES: NEW INDUSTRIALIZED COUNTRY
65
Branches of Global Economy
Production
Finance
Markets
Regimes
Corporation
Labor
Technology
66
(Off-shoring- the work done overseas)
(Outsourcing- SOMEONE else does the work for us)
Globalization of Labor
67
refers to the sourcing of goods and services from location around the globe to take advantage of national differences in the cost and quality of factors of production like land, labor and capital
Globalization of Production
68
obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source
Outsourcing
69
BPOs (Call Center Agencies)
Business Process Outsourcings
70
Increase job opportunities
Upgrade education system and leads to more training
Increase labor standard
Increase labor productivity
Pressure firms to correct labor abuses
Effect of Globalization on Labor Conditions
71
refers to the global exploitation of technologies through the patents (a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention) and licenses
Globalization of Technology
72
refers to:
*The liberation of trade in financial assets
*It is the flow of capital and corporate investments between various countries
*World allocation of money leading to exchange of services and goods
*International Monetary Funds (IMF)
*World Bank
Financial Globalization
73
It refers to a COMPANY or group of people authorized to act as a single entity and recognized as such law that operates globally or internationally
Globalization of Corporation
74
(as mentioned by MICHAEL PORTER) refers to BUSINESS that maintains a strong headquarters in one country, but has investments in multiple foreign location.
Global business
75
Coca Cola/ Pepsi/ Samsung/ Apple/ Nestle/ Lacoste/ Penguins/ Guess/ Nike/ Gap called as?
Multinational Company
76
A standardized vs. adapted to the local tasters & customs.
The whole process of planning, producing, placing, and promoting a company's product globally
Global marketing
77
refers to the process of integrating and merging of the distinct markets into a single market
Globalization of Markets
78
-The CONSUMERS have broader access to a wider variety of products and services than the neighborhood offers
-Greater vendor diversity leads to better buying opportunities and lower prices; e.g.. Comparison shopping via the internet
-Lost allegiance to domestic producers
-A more volatile labor market with stronger competition from the global labor supply
## Footnote
Impact
Impact of Globalization on Consumers
79
They are chartered by more than one country, and they are subjects to international law
The owners or shareholders are generally national governments
International Financial Institutions (IFIs)
80
When was the firs International Financial Institution (IFIs) established?
after the WWII
81
refers to:
*Prices among different location or related goods follow the same patterns over a long period of time
Market Integration
82
The time when labor market integration occurred in Asia extending from South India to Southeastern China and encompassing the three Southeast Asian countries of Burma, Malaya, and Thailand
Between 1882 and 1936
83
The time when mass migration of Indians and Chinese to Southeast Asia gave rise to both integrated Asian labor market and period of real wages convergence (divergent trends in unskilled real wages)
Late 19th century
84
The time when steamships had largely replaced sailing vessels for transport within Asia as well as to Western markets (shipping fares had begun to fall)
1880s
85
The time when global migration movement/ European immigration.
Late 19th century (early 20th century)
86
- Multi-state political structure and
- the international or global division of labor of the core, semi-periphery, and periphery countries
Global Interstate System
87
Body of people politically organized under a government within a definite territory.
STATE
88
A system that refers to existence of the division of labor
World System
89
It deals with inter-regional and transnational division of labor, which divides the world into (3):
➤Core countries
➤Semi-periphery countries
➤Periphery countries
90
is a multidisciplinary, macro-scale approach to the world history and social change which emphasizes the world-system as the primary unit of social analysis
World System Theory
91
a WORLD with a system has a multi-state political structure (interstate system). Thus, the division of labor are considered international/ global division of labor
Modern world
92
- Low Skills
- Labor Intensive Production
- Extraction of Raw Materials
SEMI-PERIPHERY/ PERIPHERY COUNTRIES
93
- Higher Skills
- Capital Intensive Production
CORE COUNTRIES
94
World Governance Movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region
## Footnote
CGG
Contemporary Global Governance
95
Institution of Global Governance
- United Nations
- International Criminal Court
- World Bank
96
the function is to maintain peace and security for all of its member-states.
Functions of United Nations
97
Climate Change, Poverty, Violent Conflict, Intolerance, and Extremism present direct threats to the unity and well-being are the challenges of?
Challenges of Global Government in the 21st Century
98
refers to the increasing importance of INTERNATIONAL trade, INTERNATIONAL relations, treaties, alliances and others
Internalization
