W1 - CW - GLOBALIZATION Flashcards
(27 cards)
WHY DO YOU NEED TO STUDY THE WORLD? (YTF)
- Your daily experiences are considered interactions with your country.
- The media and the internet are also your windows to the contemporary world.
- Finally, your consumption habits are global.
WHY STUDY THIS COURSE? (SIY)
First, studying the outside world is a cure to a parochialism
or an outlook that is limited to one’ immediate community.
- The parochial person is, thus, close-minded.
Second, it is important to study the world because it can
teach you more about yourself.
Lastly, you need to study the world because you will be
interacting with it.
GLOBALIZATION
The term “globalization” is derived from the word “globalize”
which refers to the emergence of an international network of
economic system.
GLOBALIZE
which refers to the emergence of an international network of
economic system.
In economic terms, GOBALIZATION IS
it usually refers to the integration of the national markets to a wider global signified by the increased
free trade.
GREWAL/LEVY - GLOBALIZATION
It is a process by which goods, services, capital, people,
information and ideas flow across national borders.
MANFRED STEGER
The expansion and intensification of social relations and
consciousness across world-time and across world-space.
ANTHROPOLOGIST
ARJUN APPADURAI
FIVE SCAPES (EMTFI)
An “ethnoscape,” refers to the global movement of people.
- A “mediascape,” is about the flow of culture.
- A “technoscape,” refers to the circulation of mechanical
goods and software;
- a “financescape” denotes the global circulation of money;
- an “ideoscape” is the realm where political ideas move around.
global movement of people
ETHNOSCAPE
about the flow of culture
MEDIASCAPE
circulation of mechanical goods and software
TECHNOSCAPE
denotes the global circulation of money
FINANCESCAPE
realm where political ideas move around
IDEOSCAPE
6 ASPECTS OF GLOBALIZATION THAT AFFECT THE WORLD
(IFE PIC)
- INDUSTRIAL GLOBALIZATION
- FINANCIAL GLOBALIZATION
- ECONOMIC GLOBALIZATION
- POLITICAL GLOBALIZATION
- INFORMATIONAL GLOBALIZATION
- CULTURAL GLOBALIZATION
INDUSTRIAL GLOBALIZATION
development of worldwide production
markets and broader access to a range of foreign products for
consumers and companies involving particularly movement of
material and goods between and within national boundaries.
FINANCIAL GLOBALIZATION
development of worldwide financial
markets and better access to external financing borrowers.
ECONOMIC GLOBALIZATION
establishment of global common
market, based on the freedom of exchange of goods and capital.
POLITICAL GLOBALIZATION
creation of international organizations
to regulate the relationships among governments and to
guarantee the rights arising from social and economic
globalization.
INFORMATIONAL GLOBALIZATION
increase in information flows
between geographically remote locations.
CULTURAL GLOBALIZATION
sharing ideas, attitudes and values
across national borders.
5 ELEMENTS OF GLOBALIZATION
TRADE AGREEMENTS
CAPITAL FLOW
MIGRATION PATTERNS
INFORMATION TRANSFER
SPREAD TECHNOLOGY
TRADE AGREEMENTS
bilateral, regional or multilateral economic
arrangements designed to reduce or eliminate trade barriers.
CAPITAL FLOW
measurement of increase or decrease in a nation’s
domestic or foreign assets.
