Globalization Flashcards
What is Globalization?
Growth of international exchange of goods, services, and capital which increase the levels of integration that characterizes economic activity. Includes the movement of knowledge and information
What is internalization?
Designing products and services by making it adaptable so it can enter different markets
What is Localization?
Adapting a product to suit the specific target market to make it highly relevant. (Cultural Adapatation). Includes consideration on cultural factors on the target market.
What is World Systems Theory?
A world-system is a multicultural territorial division of labor in which the production and exchange of goods and materials is important for surviving everyday life. This division of labor is explained as the forces of production of the world economy and the reason for the existence of the two interdependent regions called core and periphery. A perspective the views globalization as the expansion of capitalist system.
Who is associated with the World Systems Theory?
Associated with Immanuel Wallerstein in 1974
What is a capitalist system?
political and economic system where trade, industries, and economy in general are dominated by private ownership instead of being state owned
What is the core in the world systems theory?
advanced/highly developed countries with higher level of education and more tech generate more wealth in economy
What is the semi-periphery in the world systems theory?
defense zone between the two. May have mix of the two. May be exploited yet will also exploit.
What is the periphery in the world systems theory?
less developed country with lower levels of education and tech, less wealth
Core is ____________ extensive; while Peripheral are ___________.
Core = Capital Extensive
Peripheral = Labor Intensive
What is the world polity theory?
State remains as an important component of world society and societies become more similar in terms of governance and policy. Considered as a response to modernization theory. It is assumed that countries will go on the same stages of development because the governments are quite similar.
What is the world culture theory?
World culture is new and important, but it is less homogenous than world polity scholars imply. World culture is new and important, but it is less homogenous than world polity scholars imply. Makes globalization as both compression of the world and the intensification of consciousness of the world as a whole.
What is relativization?
This means that each unit emerging in the world order takes shape depending on its surroundings. For example, as nation-states become subject to universal standards derived from a common conception of humankind, citizenship in those societies become relativized.
What is emulation?
Although globalization cannot create a common culture, where everyone has the same values and beliefs, it can create a single arena in which all actors pursue their goals with comparison to others, employing at least some common standards as yardsticks.
What is glocalization?
The ideas and processes inside globalization are interpreted differently according to the point of particular groups and their history. In other cases, this is done strategically, for example when global marketers create local traditions on the assumption that difference sells.
Differentiate homogenization to heterogenization
The ideas and processes inside globalization are interpreted differently according to the point of particular groups and their history. In other cases, this is done strategically, for example when global marketers create local traditions on the assumption that difference sells.
Explain inherent dynamics of globalization
The world culture theory shows the process as ongoing and open-ended, this means that all characteristic of world culture, discussed above, entails continual change, where cultural conflict is the common mechanism.
Explain movements of de/reglobalization
Globalization triggers resistance or reaction. For example, the Islamic fundamentalism. While against in the form of globalization that builds equal cultures in the world, fundamentalism replace its own global vision. The fundamentalists define global fundamentals and operate in terms of globally dim ideas.
Explain multiple sources
While world culture theory emphasizes the role of reflexivity and worldviews in globalization, in principle change can originate anywhere. World culture theory is causally agnostic.
What is Neoliberalism?
While world culture theory emphasizes the role of reflexivity and worldviews in globalization, in principle change can originate anywhere. World culture theory is causally agnostic.
Neo means what?
means new or revived
What is the core assumption in Neoliberalism?
Self – regulating market is a core assumption in classic liberalism (Munck, 2005)
What is a free market?
- with little or no government control
- Free to be an investor or entrepreneur
- Price is determined by the seller
- Free to own, buy, and sell
What is protectionism?
refers to actions or policies that allow the government of a country to promote domestic or local producers, and thereby boost its own production of goods and services by imposing tariffs or otherwise limiting foreign goods and services in the marketplace.
