Contempo (1-3) 1st Sem 2nd yr

• What is globalization?


  The process in which people, ideas, and goods spread throughout the world.
• What drives the process of globalization?


  People, companies, and governments through international trade and investment.
• What are the effects of globalization on societies?


  It affects the environment, culture, political systems, economic development, and human well-being.
• What is an example of historical globalization?

  The Silk Road connecting China and Europe during the Middle Ages.
• How has today's globalization changed compared to earlier waves?


  It is farther, faster, cheaper, and deeper.
• How quickly can a smartphone be designed and sold globally today?


  Within a matter of days.
• What economic systems have many governments adopted since World War II?


  Free-market economic systems.
• What has been the impact of free-market systems on international trade?


  They have created new opportunities for trade and investment.
• What do governments do to facilitate globalization?


  They reduce obstacles to trade and create agreements.
• What is a key part of globalization regarding businesses?


  Businesses and financial systems are now connected across many countries.
• According to the IMF, what does globalization involve?


  Countries becoming more economically connected through trade, money movement, and technology sharing.
• How has information technology transformed economic life?


  It provides powerful tools for consumers, investors, and businesses to seize opportunities.
• What is one principal driver of globalization?


  Technology.
• How does Steger define globalization?


  As an expansion and intensification of social relations and consciousness across world time and space.
• What does globalization create in terms of connections and activities?


  It increases the number of connections and activities between people and places.
• What are the four characteristics of globalization?


  • Creation of new social networks
  • Multiplication of existing connections
  • Faster and more frequent social interactions
  • Expansion and stretching of social relations
• What is an example of globalization in social media?


  Platforms like Instagram connecting people globally.
• How do video calls exemplify globalization?


  They allow instant face-to-face conversations worldwide.
• How do online shopping platforms reflect globalization?


  They expand shopping options beyond local stores.
• How does globalization influence personal perspectives?


  It fosters a global mindset while valuing local cultures.
• What is the time frame of the Prehistoric Period of globalization?

  10000 BCE to 3500 BCE.
• What limited globalization during the Prehistoric Period?


  The absence of advanced forms of technology.
• What technological advancements helped move globalization forward in the Early Modern Period?


  The invention of writing and the wheel.
• What characterizes the Modern Period of globalization?


  Increased connectivity and dependence among countries.
• What led to cultural exchanges in the Contemporary Period of globalization?

  Innovations in transportation and communication technology.
• What are the six dimensions of globalization?


  1. Economic Dimension
  2. Political Dimension
  3. Cultural Dimension
  4. Religious Dimension
  5. Ideological Dimension
  6. Technological Dimension
• What does the Economic Dimension of globalization refer to?


  The extensive development of economic relations across the globe.
• How has technology impacted global trade?


  It has greatly increased trade in resources and products.
• What is an example of the Economic Dimension in globalization?


  The rise of global financial markets.
• What role do economic institutions play in globalization?


  They decide how money is invested and how resources are shared.
• What does the Political Dimension of globalization involve?


  The enlargement and strengthening of political interrelations across the globe.
• What does economic globalization refer to?


  It refers to the increasing interdependence of world economies.
• How does economic globalization affect market frontiers?


  It reflects the continuing expansion and mutual integration of market frontiers.
• What is the significance of economic globalization at the turn of the millennium?


  It is an irreversible trend for economic development worldwide.
• What was happening to markets around the year 2000?


  Markets around the world were increasingly connecting and growing together.
• What drives the process of economic globalization?


  It is driven by human creativity and advances in technology.
• What does the movement of knowledge (technology) across borders entail?


  It means the sharing and spread of information, skills, and technology between countries.
• What is the purpose of the International Monetary Fund (IMF)?


  To provide financial assistance, advice, and support to countries facing economic problems.
• What functions does the IMF perform?


  It offers loans and monitors global economic trends to promote stability and growth.
• Who are the members of the IMF?


  Most countries in the world are members of the IMF.