Globalization Flashcards
1
Q
Define “globalization”
A
The processes that are increasing the interconnectedness of the world
1
Q
Describe economic globalization
A
The integration of globalization in production, trade, and finance
2
Q
Describe the risks of economic globalization
A
- lack of control on the flow of capital can lead to a financial crisis
- tends to reduce the ability of national governments to manage their own economies
- tends to cause increased inequalities in income, wealth, and power in many countries
3
Q
Describe “cultural globalization”
A
involves the spreading of cultural products and values across the globe
4
Q
Describe “political globalization”
A
involves the coordination of separate states to solve global problems
5
Q
What is an example of political globalization
A
formation of institutions such as the UN, or The World Trade Organization
