CWORLD

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Cards (138)

  • Globalization - this refers to the increasing global inter-connectedness of different nation states.
  • Rejectionists - scholars who believe that the term "globalization" is a vague, ambiguous, and complex term.
  • Sceptics - globalization is not a global phenomenon because it is only centered on Europe, Eastern Asia and North America
  • Modifiers - they believe that globalization is not a recent phenomenon.
  • The evolution of global markets and international corporations led to global economic interdependence among nation-states.
    •  European Union (EU), the North American Free Trade Association (NAFTA) are examples of economic globalization
  • EU - European Union
  • NAFTA - North American Free Trade Association
  • NAFTA grants the most-favored-nation status to all co-signers
  • NAFTA eliminates tariffs on imports and exports between the three countries 
  • According to NAFTA, exporters must get Certificates of Origin to waive tariffs
  • NAFTA establishes procedures to resolve trade disputes
  • economic globalization increases the linkage of national economies through trade, financial flows, and foreign direct investment (FDI) by multinational or trans-national corporations (MNCs/TNCs)
  • FDI - Foreign Direct Investment
  • MNCs - Multinational Companies
  • TNCs - Trans-national companies
  • Foreign Direct Investment - The purchase of an interest in a company by investors located in another country.
  • Muntinational Countries - Own a home company and its subsidiaries. Centralized management system. Will face a barrier in decision-making due to its centralized management system
  • Transnational Companies - Do not have subsidiaries but just many companies. Do not have a centralized management system. Can gain more interest in the local markets since they maintain their system
  • 1944BrettonWoodsConference - contributed to the formation of the “golden age of controlled capitalism”
  • The emergence and evolution of the post-World War I global economy was attributed to the establishment of 1944BrettonWoodsConference. 
  • Political globalization includes the discussion and analysis of political processes and institutions.
  • the rise of a “borderless world” was the consequence of the irresistible forces of capitalism
  • Heterogeneity – The differences in cultural identity related to class, ethnicity, and traditions.
  • 'Homogeneity – The quality of a culture or state of being is uniform in structure.
  • cultural globalization signifies a growing linkage of intricate cultural interconnections and interdependencies that define our modern social life.
  • USMCA – UnitedStatesMexicoCanadaAgreement
  • BRICS – BrazilRussiaIndiaChinaSouthAfrica
  • ASEAN – AssociationofSoutheastAsianNations
  • WB - WorldBank
  • WTO - World Trade Organization
  • GATT - GeneralAgreementonTariffsandTrade
  • CSO - CivilSocietyOrganization
  • NGO - Non-Governmental Organization
  • LDC - Least Developed Countries
    • TNC Transnational Country
  • NIC - Newly Industrialized Country
  • IMS/IMF - International Monetary System/Fund
  • MNC - Multinational Country
  • G5 Countries – GermanyFranceUSUKJapan