CONTEMPORARY WORLD MIDTERM

• Globalization


  • It is a process of interaction and integration among the people, companies and governments of different nations,
  • a process driven by international trade and investments and aided by information technology.
• 4 types of globalization

  1. Economic Globalization
  2. Cultural Globalization
  3. Social Globalization
  4. Political Globalization
• economic globalization


  • interconnectedness of economies through trade and exchange of resources
• 4 drivers of economic globalization

  1. Technological Advancements
  2. Economic Policies
  3. Global Institutions
  4. Market Forces
• 3 impacts of economic globalization

  1. Economic Growth
  2. Innovation and Efficiency
  3. Cultural Exchange
• cultural globalization


  • process by which cultural practices, ideas, values, and products

  spread and interact across national and regional boundaries
• 5 key components of cultural globalization

  1. Media and Entertainment
  2. Communication Technology
  3. Cultural Exchange
  4. Global Brands and Products
  5. Educations
• social globalization


  • human interaction within cultural communities, encompassing topics like family, religion, work, and education
  • interconnectedness between people
• political globalization


  • the amount of political cooperation that exist between different countries
• 4 impacts of political globalization

  1. Increased cooperation

  2. policy convergence

  3. influence of international organizations

  4. enhanced global communication
• PROS of globalization

  1. Encourages free trade
  2. Potential for more jobs
  3. Eliminates currency manipulation
  4. More opportunities to develop poor areas
  5. Open lines of communication
  6. Pooling resources to do great things
• CONS of globalization

  1. Rich become rich , poor become poor
  2. Job transfers to lower-cost areas
  3. Creates a culture of fear
  4. Political system where richest have influence
  5. Disease travel faster
  6. Negative impact on environment
• 9 aspects of the global economy

  1. Globalization
  2. International Trade
  3. Global Financial Markets
  4. Economic Development and Growth
  5. Global Supply Chains
  6. Technology and Innovation
  7. Economic Policies
  8. Environmental and Social Issues
  9. Crisis and Risk Management
• market integration


  • process of connecting separate markets into a unified system
• International Financial Institutions (IFIs)


  • Institutions chartered by more than one country subject to international law
• 3 Main objectives of IFIs

  • Poverty reduction
  • economic growth
  • financial stability
• global corporation


  • business that operates in more than one country other than its home base
• International corporation


  • Operates in multiple countries but keeps core operations and decision-making centralized in its home country
• 7 aspects of a global corporation

  1. Geographic Expansion
  2. New Customer Segments
  3. Product Line Expansion
  4. Market Penetration
  5. Partnership and Alliances
  6. Online and Digital Channels
  7. Franchising and Licensing
• global interstate system

  • existence of division of labor
• global governance


  process of designating rules, norms, and procedures that facilitate cooperation between countries

  • movement towards political cooperation among transnational actors
• World System 


  Inter-regional and transnational division of labor
• Core Countries


  • Focus on high-skill, capital-intensive production
  • Export product to periphery countries
• Semi-Periphery Countries


  • High-skill and low-skill production
• Periphery Countries

  • Dependent in core countries
  • Low-skill, labor-intensive production and extraction of raw materials
• United Nations


  • 1945 , maintain peace and security of member-states
• UN General Assembly


  • Established in 1945 under the UN CHARTER
• Nation


   a group of people bound together by a common culture, history, and tradition that usually live within a concentrated geographic region
• Bokova Address Challenges of Global Government

  1. openness of mind and out of the box thinking

  2. build resilient societies

  3. new thinking about peacebuilding
• Cold War


  ongoing political rivalry between the United States and the Soviet Union and their respective allies that developed after World War II
• North-South divide


  socio-economic and political distinction between developed (North) and developing (South) countries
• Global North


  • Post-Cold War (economic divide)
  • higher living standards
• Global South


  • less develop countries
  • Political instability
• Third World 


  • Non-aligned world
  • low income
• Asian regionalism


  • product of economic interaction, not political planning
• regionalism


  Dividing an area into smaller segments known as regions
• Tariffs 


  taxes imposed by a government on imported or exported goods
• ASEAN


  Association of Southeast Asian Nations
• Southeast Asian Countries

  • Brunei
  • Cambodia
  • Indonesia
  • Laos
  • Malaysia
  • Myanmar
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
• 8 role of United Nation

  1. Peace and security
  2. Human Rights Promotion
  3. Technical Assistance
  4. Humanitarian Aid
  5. International Law
  6. Global Health
  7. Social and Economic Growth
  8. Climate Action