TCW

Question 1

What is the economic dimension of globalization?

Answer 1

The phenomenon involves the increasing linkage of national economies

This dimension emphasizes economic interdependence and integration among countries.

Question 2

What does the political process of globalization involve?

Answer 2

Issues pertaining to state sovereignty, intergovernmental organizations, and global governance prospects

This reflects how globalization challenges traditional notions of state power.

Question 3

Define the cultural process of globalization.

Answer 3

A growing network of complex cultural interconnections and interdependencies that characterize modern social life

This includes the exchange and adoption of cultural practices across borders.

Question 4

What does globalization mean from an economic perspective?

Answer 4

Fast speed of trade, global economic organizations, multinational and transnational corporations, trade blocs, free trade, privatization, less tariffs

These aspects highlight the economic drivers and effects of globalization.

Question 5

How do political experts define globalization?

Answer 5

A challenge to the nation state, strength of regional blocs, emergence of global political norms, multilateral and bilateral relations among nation-states, emergence of corporations, international laws, world governance

This perspective focuses on the political implications and transformations due to globalization.

Question 6

What does the cultural view of globalization encompass?

Answer 6

Establishment of a ‘global village’, ‘shrinking world’, cultural imperialism, borderless world, adoption of other cultures

This highlights the cultural integration and exchanges facilitated by globalization.

Question 7

List three attributes of globalization.

Answer 7

• Various forms of connectivity (economic, political, cultural, etc.)
• Expansion & stretching of social relations
• Intensification & acceleration of social exchanges and activities

These attributes illustrate how globalization manifests across different dimensions.

Question 8

True or False: Globalization is considered inevitable and irreversible.

Answer 8

True

This claim suggests that globalization is a fundamental aspect of modern society.

Question 9

What are the core claims of globalization?

Answer 9

• Globalization is about liberalization and global integration of markets
• Globalization benefits everyone (in the long run)
• Globalization furthers the spread of democracy in the world
• Globalization requires a global war on terror

These claims reflect the perceived positive outcomes of globalization.

Question 10

What does ‘Globaloney’ refer to?

Answer 10

Claims that accounts on globalization are incorrect, imprecise, or exaggerated

This term critiques the narratives surrounding globalization.

Question 11

What is the rejectionist argument regarding globalization?

Answer 11

Disputes the usefulness of globalization as a precise analytical concept, suggesting it is a vacuous term

This perspective questions the clarity and applicability of globalization in academic discourse.

Question 12

Fill in the blank: Economic globalization derives partly from its historical development and the evolution of _______.

Answer 12

[international markets and corporations]

This highlights the historical context of economic globalization.

Question 13

What is the role of the World Trade Organization?

Answer 13

Sets and enforces the rules of international trade between nations

The WTO plays a crucial role in facilitating global trade.

Question 14

What is the definition of Foreign Direct Investment?

Answer 14

An investment to a business in a given nation state in the form of controlling its ownership

This type of investment is crucial for economic globalization.

Question 15

What does the International Monetary Fund (IMF) aim to do?

Answer 15

Facilitate international trades, assist global monetary cooperation, and reduce poverty in borrowing nations

The IMF plays a critical role in economic stability worldwide.

Question 16

What does the World Business Council for Sustainable Development focus on?

Answer 16

Advancing a vision of capitalist social and moral progress, anchored by eco-efficiency

This group aims to bridge the gap between business and environmental concerns.

Question 17

Describe the World System Theory.

Answer 17

Argues that today’s modern world system is unique due to its reliance on total global economic control and consists of core, semi-periphery, and periphery economies

This theory emphasizes interconnectedness and dependency among different economies.

Question 18

What is a crisis of overproduction?

Answer 18

An overcapacity in production that exceeds actual demand

This situation can lead to significant economic downturns.

Question 19

List the three processes complicating the crisis of legitimacy.

Answer 19

• Crises of ideological legitimacy
• Crises of liberal democracy
• Crises of overextension

These crises challenge the stability of global capitalism.

Question 20

What is the rise of the anti-corporate globalization movement?

Answer 20

Resistance to neoliberalism and corporate policies, gaining critical mass globally

This movement reflects widespread discontent with the effects of globalization.

Question 21

What does the inability of a system to deliver its promises reveal?

Answer 21

Opposing interests between the elites and the vast majority.

Question 22

What is manifested by the growing perception of a community of interests among the peoples of the world?

Answer 22

A distinct interest from that of the global corporate elites.

Question 23

What is the goal of macroeconomic and microeconomic policies in the context of market confidence?

Answer 23

To restore market confidence.

Question 24

What can make exporting more attractive during a crisis?

Answer 24

Exchange rate devaluation.

Question 25

What is as important as exchange rate in determining macro exports?

Answer 25

Addressing problems in the financial sector.

Question 26

What are the challenges of restructuring the banking system?

Answer 26

* Less technical, legal, and institutional capacity * Fewer healthy banks to take over weak banks * More complex banking systems with state and private banks.

Question 27

What is a key issue in strengthening the financial sector?

Answer 27

Enabling it to more effectively fulfill its role in promoting economic growth.

Question 28

What should governments correct to strengthen corporate governance?

Answer 28

Tax, regulatory, and banking practices that encouraged high debt-equity ratios.

Question 29

What is the goal of creating a robust policy regime in controlling capital flows?

Answer 29

To minimize long-term consequences of economic fluctuations.

Question 30

True or False: The World Bank is primarily a crisis fighter.

Answer 30

False.

Question 31

What does the World Bank focus on?

Answer 31

Project lending and structural reforms for long-run development and poverty alleviation.

Question 32

What is the period of trade and exchanges represented by?

Answer 32

East India Company (1600–1708).

Question 33

What terminology was used for the period of U.S. and Spanish war (1898)?

Answer 33

Imperialism.

Question 34

What development led to the birth of international companies around 1900?

Answer 34

The founding of the Security and Exchange Organization (SEC) in 1933.

Question 35

What are the four types of corporations?

Answer 35

* International companies * Global companies * Multinational companies * Transnational companies.

Question 36

What is the role of IGOs?

Answer 36

To facilitate international connections and create strong relationships.

Question 37

True or False: IGOs govern countries.

Answer 37

False.

Question 38

What is the difference between internationalism and globalism?

Answer 38

* Internationalism: Intensification of relations among nation-states. * Globalism: Understanding interconnections of the modern world.

Question 39

What are the main organs of the United Nations?

Answer 39

* General Assembly * Security Council * Economic and Social Council * International Court of Justice * Secretariat * Trusteeship Council.

Question 40

What is the main deliberative body of the UN?

Answer 40

General Assembly.

Question 41

What is the responsibility of the Security Council?

Answer 41

Maintenance of peace and security.

Question 42

What does the Economic and Social Council focus on?

Answer 42

Sustainable development and policy recommendations.

Question 43

What is the primary role of the International Court of Justice?

Answer 43

To settle legal disputes and give advisory opinions.

Question 44

What does the Trusteeship Council provide?

Answer 44

International supervision for Trust Territories.

Question 45

What is the relevance of the state amid globalization?

Answer 45

States are essential for IGOs and international agreements.

Question 46

What does the global divide refer to?

Answer 46

Socio-economic and political divides between the North and South.

Question 47

Which countries are included in the Global North?

Answer 47

* United States * Canada * Western Europe * Australia * New Zealand.

Question 48

What characterizes the Global South?

Answer 48

Made up of Africa, Latin America, and developing Asia.

Question 49

What are three factors that direct the economic development of states?

Answer 49

* Behavior within and between nation-states * Position in the global market * Immigration patterns.

Question 50

What is the difference between globalization and regionalization?

Answer 50

* Globalization: Borderless integration. * Regionalization: Societal integration within a specific region.

Question 51

What is globalization?

Answer 51

Integration of social relations and consciousness across world-space.

Question 52

What is regionalization?

Answer 52

Societal integration within a region, often an undirected process of social and economic integration.

Question 53

How does globalization differ from regionalization in terms of scope?

Answer 53

Globalization is borderless, whereas regionalization occurs within a specific geographical portion of the world.

Question 54

What does regionalism refer to?

Answer 54

A political process involving economic policy of cooperation and coordination among countries.

Question 55

What are some factors driving greater Asian integration?

Answer 55

* Market-driven interactions * Establishment of formal institutions * Production networks * The Asian bond

Question 56

What is the role of the Asian Development Bank?

Answer 56

Facilitates economic grants and overseas development assistance programs.

Question 57

Which countries are involved in specialized production?

Answer 57

* Philippines – electronics and copper * Indonesia – palm oil, rubber, and natural gas * South Korea – machinery products and motor vehicles.

Question 58

What are the two economic structures established by ASEAN + 3 Financial Ministers’ Process?

Answer 58

* Chang Mai Initiative * Asian Bond Market

Question 59

How does ASEAN decision-making differ from the European Union?

Answer 59

ASEAN decides based on consensus or general agreement.

Question 60

What are the collective responses of Asia to globalization and regionalization?

Answer 60

* Establishing the Asian Development Bank * Working on loans and grants * Sharing security information * Achieving ASEAN Declaration.

Question 61

What are some individual responses of countries in Asia to globalization?

Answer 61

* Bilateral and multilateral agreements * Dialogues among China, India, and Japan * Resource utilization to combat civilian displacement * Creation of local currencies.

Question 62

What does Japan's security policy emphasize?

Answer 62

Continuity and broad protection of a society accustomed to domestic safety and order.

Question 63

What factors are leading to political stasis in Japan?

Answer 63

* Corporate restructurings * Financial big bang * Generational change in political class * Social changes undermining family foundation.

Question 64

What is a significant trend in Japanese corporate capital?

Answer 64

Restructuring and expanding Asian production networks while maintaining operations in Southeast Asia.

Question 65

What are the two salient points of East Asian middle class?

Answer 65

* Driven by global and regional transnational capitalism * New urban middle classes with jobs, education, and income status.

Question 66

What characterizes the 386 generation in South Korea?

Answer 66

Combination of economic development, social transformation, and political change with no direct experience of Japanese colonial rule.

Question 67

How is Taiwan's middle class defined politically?

Answer 67

A politics of ethnicity against the economic power of mainlander Taiwanese and mainland China.

Question 68

What challenges did Bangkok's middle classes face?

Answer 68

Financial crises leading to job losses and the closing of banking institutions.

Question 69

What distinguishes the middle classes in Malaysia and Indonesia?

Answer 69

They remain divided ethnically, dependent on the state, and unable to reshape politics fundamentally.

Question 70

What is a notable characteristic of the Filipino middle class?

Answer 70

They have been around for at least two generations due to earlier industrialization.

Question 71

What has shaped the new urban middle classes in East Asia?

Answer 71

Complex historical forces from regional and economic development under the US informal empire.