MODULE 4 Flashcards
Reviewer (13 cards)
Q: What is Immanuel Wallerstein’s world-system theory?
A: It is a theory that divides the world economy into three areas: core (strong economies), periphery (less developed countries providing raw materials), and semi-periphery (middle-ground processing and distribution).
Q: How does Wallerstein’s theory differ from the traditional view of colonization?
A: Instead of focusing on a single country controlling another, it suggests a global economic system where core countries dominate periphery areas through economic influence.
Q: How do modern transportation and communication systems affect economic globalization?
A: They make it easier for resources, products, and people to move between core and periphery areas, strengthening economic connections.
Q: What is the International Monetary Fund (IMF), and what does it do?
A: The IMF helps countries maintain economic stability by providing loans, advice, and financial support during economic crises.
Q: Give an example of how the IMF assists a country.
A: If Nigeria faces high inflation, the IMF gives a loan and suggests ways to reduce government spending and improve banking systems.
Q: What are International Financial Institutions (IFIs)?
A: IFIs include organizations like the World Bank and Asian Development Bank (ADB) that fund large infrastructure projects and offer economic policy advice.
Q: How do IFIs help developing countries like the Philippines?
A: The World Bank might fund highway construction, while the ADB provides management advice to improve infrastructure and boost economic growth.
Q: What are Transnational Corporations (TNCs)?
A: Large companies that operate in multiple countries, create jobs, and introduce new technologies.
Q: Give an example of how a TNC can impact a country’s economy.
A: A tech company (XYZ Corporation) builds a smartphone factory in the Philippines, creating jobs and boosting local infrastructure.
Q: What must countries ensure when allowing TNCs to operate?
A: They must follow labor laws and environmental regulations to protect workers and the environment.
Q: What is Global Civil Society, and who does it include?
A: It consists of NGOs, social movements, and individuals working across borders to address global issues and advocate for human rights.
Q: How did Global Civil Society help after Typhoon Haiyan in 2013?
A: Organizations like The Red Cross and World Vision provided immediate aid and long-term recovery assistance.
Q: Why is Global Civil Society important in economic globalization?
A: It supports humanitarian efforts, promotes social justice, and helps communities rebuild after crises.
