Chapter 1

• Globalization is the expansion and intensification of social relations and consciousness across world-time and across world-space
• Expansion refers to both the creation of new social networks and the multiplication of existing connections that cut across traditional political, economic, cultural, and geographic boundaries
• Intensification refers to the expansion, stretching, and acceleration of these networks
• Free Trade Agreements removed trade barriers such as tariffs and import quotas among member-states of regional blocks.
• Global Economic Organizations played an important role on the spread and influence of globalization in the economic arena.
• General Agreement on Tariffs and Trade serve as a forum for negotiations on trading rules as well as mechanisms for dispute settlements in trade issues
• Globalism is the widespread belief among powerful people that the global integration of economic markets is beneficial for everyone, since it spreads freedom and democracy across the world.
• Cultural Imperialism refers to the imposition by one usually politically or economically dominant community of various aspects of its own culture onto another, non-dominant community.
• Global Village where time and space see to become increasingly irrelevant
• Treaty of Amity and Cooperation signed at the ASEAN Summit on February 24, 1976, declared that in their relations with one another.
• The World Trade Organization promotes free trade among its members through dispute resolution mechanisms and negotiating agreements on issues such as intellectual property protection and agricultural subsidies.
• Fidel Ramos administration dismantled monopolies, privatized basic utility and liberalized trade