Globalization and Global Development Flashcards
What is globalization ?
Globalization is the movement towards the expansion of economic and social ties between countries through the spread of corporate institutions and the capitalist philosophy that leads to the shrinking of the world
What are the features of Globalization ?
- Integration of world
economy
Free trade
Culture
Monopoly power
Environment
Brands
Exploitation
Poverty
Capitalism
how does someone ‘mark’ globalization by emergence ?
- increased world trade
- development of world finance structure
- importance of TNC
- linked internalization of production and services
What are the core forces of modern life in regards to Globalization ?
- rationalists knowledge
-capitalist production and innovation - automated technology
- beaurcatic governance
- new actors, new roles, new markets
What is the Realist approach to globalization ?
states hold sovereignty and globalization does not cause the struggles for political power between states. globalization does not weaken the importance of the threat of use of force
What is the Marxist Approach to Globalization ?
Globalization is a negative process. Globalization further deepens the existing divide between rich and poor countries
What is the Liberal approach to globalization ?
positive and transformative process that promotes interconnectedness and cooperation across nations. Liberals see globalization as a means to achieve global progress, peace, and prosperity by emphasizing market forces, technology, and institutional frameworks.
What is social globalization ?
Processes whereby many social relations become relatively delinked from territorial geography, so that human lives are increasingly played out int the world as a single place
What is cultural globalization ?
Emerging “global culture” in which people more often consume similar goods and services across countries and use of common language
Stereotypes of cultural globalization suggests that as Western forms of consumption and lifestyles spread across the globe
Historical Globalization : Archaic
- Period: Pre-industrialization (before 1600).
- Characteristics: Centered around empires, cities, and trade networks. Activities like exploration, migration, and religious missions drove global interactions.
- Key Actors: Kings, warriors, priests, and traders.
Historical Globalization : Proto
- Period: 1600–1800.
- Characteristics: Marked by the expansion of state power, colonialism, and early forms of global trade.
Seaborne commerce and transatlantic trade gained prominence. - Key Actors: Explorers, slave traders, merchants, and pilgrims.
Historical Globalization : Modern
Period: Post-1800 (Industrial Revolution onwards).
- Characteristics: Dominated by industrialization, the rise of nation-states, imperial expansion, and advancements in military, manufacturing, and communication technologies.
- Key Actors: Industrialists, scientists, and imperial colonizers.
Historical Globalization : Post Colonial
period : post 1950 with emergence of a decolonized world, with new types of supra territorial organizations and regional integration
Key Actors : business and political elites, migrants, asylum seekers, global and civil servants
What are the dilemmas associated with globalization ?
economic : absense of a lender of last resort not only to discipline but also to give confidence to banks and financial markets (laissez faire)
environmental : motivations of corporate players in the world market economy lead most of them to destroy, pollute the planet while the necessary counter-veiling power of states is handicapped by principles of international sovereignty
Political : the challenge of ensuring accountability and democratic governance in a globalized world where power is concentrated in institutions and corporations that operate beyond the reach of traditional state control.
What is the interconnection between globalization and marginalization ?
globalization has widened gaps between developing nations, with some leveraging opportunities effectively while others remain marginalized.
- poorest nations see little benefit from international trade and financial flows but face reduced aid and increased economic challenges.
- countries that gain access to international financial resources often lose autonomy and have an increased risk in financial shocks
example : Countries like Japan and the “Asian Tigers” succeeded by:
Building a skilled labor force.
Increasing domestic savings.
Adopting export-oriented policies with selective government intervention.
What is Globalization from above ?
represents major transformation beyond institutions like WTO, IMF, WB.
1. global economic changes : expansion of production, markets, and finance along with corporate and labor restructuring
2. technological advancements
3. neoliberal dominance : promotion of free market policies, large scale tourism, and poverty driven immigration
What is Globalization from below ?
globalization sparked by various groups :
- environmentalists : globalization is responsible fro acid rain, global warming, and destruction driven by corporations
- poor peoples movements : criticized imperialism, international financial systems, SAP for causing poverty
- labour movements : how international capital mobility leads to wage cuts rather than benefits workers
what is the world economic forum ?
WEF serves as a platform for influential leaders to discuss and collaborate on solutions for global challenges, but it often faces scrutiny over its effectiveness and inclusivity.
- champion of free trade
- large corporations and world leaders along with elites
What is the world social forum ?
a counter-narrative to the WEF, representing the voices of those often excluded from mainstream globalization discussions. It is a key platform for advocating alternative models of development and fostering international solidarity among social movements.
Differences between WEF and WSF ?
- Purpose: While the WEF focuses on public-private partnerships to solve global challenges, the WSF critiques the systems that create these challenges, such as corporate capitalism and neoliberal policies.
- Participants: WSF involves grassroots activists, NGOs, and marginalized communities, whereas WEF is dominated by political and corporate elites.
- Approach: WSF emphasizes participatory democracy, inclusivity, and resistance to top-down global governance.
What is a multinational corporation ?
Businesses that have operations, investments, or assets in multiple countries but maintain a clear national identity with headquarters in a specific country.
MNCs are heavily influenced by the laws and policies of their home nation and focus on maintaining a single national identity despite operating in multiple countries.
What is a transnational corporation ?
Businesses that operate across national borders with no single, dominant national base. They often organize their operations in a decentralized manner to integrate into local economies and respond flexibly to global markets.
TNCs lack a strong national identity and operate globally with decentralized management structures, blending into the political and economic systems of multiple nations.
What is a supranational corporation ?
These are entities that operate above the authority of individual nation-states and are governed by international agreements or laws. The term is more commonly applied to organizations with corporate-like functions rather than traditional businesses.
These entities are not profit-driven businesses but rather organizations or institutions that have authority over multiple nations.
