GE-WORLD

• Globalization is a term used to describe how trade and technology have made the world into a more connected and interdependent place. Globalization also captures in its scope the economic and social changes that have come about as a result. (Google)
• Reasons to study globalization:

  • Everywhere and impossible to escape
  • Encourages unity and harmony among states and non-state actors
  • Enhances individuals' consciousness about the global community
  • Facilitates linkages of different institutions globally
  • Provides understanding of competition in the global communityBridges the differences among the local communities of the contemporary world.Promotes acceptable social practices or activities among the different local communities.Provides an avenue to appreciate the changes and developments that are sweeping the international community
• Approaches to globalization:

  • World-Systems Model: discusses the growth of capitalism
  • Global Culture Model: focuses on the expansion of culture across national boundaries
  • Global Society Model: believes in the creation of a global society
  • Global Capitalist Model: sees capitalism as the peak of developments among countries
• Dimensions of globalization;

  • Political Dimension: intensification and expansion of political interrelations globally
  • Economic Dimension: increasing integration of economies worldwide
  • Ideological Dimension: system of widely shared ideas and guiding norms
  • Social Dimensions: intensification and expansion of connections of people globally
  • Ecological Dimension: connection between global environment issues and human activities
  • Technological Dimension: spread of technologies around the globe, particularly from developed to developing nations
• Economic globalization, defined by Manfred Steger (2017), refers to the intensification and stretching of economic connections across the globe
• Globalization involves the movement of goods and services across the globe and the removal of trade barriers, deepening economic interactions among states
• The history of economic globalization includes the First Trading Networks during the Age of Exploration, the gold standard in the 1800s, and significant developments after World War II, like the Bretton Woods Conference creating the World Bank and the IMF
• The Bretton Woods Agreement, negotiated in July 1944, pegged currencies to the U.S. dollar's value and established the IMF and World Bank
• The IMF monitors exchange rates and provides global monetary support, while the World Bank offers assistance to countries affected by war, both playing crucial roles in international capital financing and trade activities
• In the 21st century, globalization has led to reduced barriers to the free flow of goods, services, and capital, impacting labor costs and migration patterns
• The global economy has seen increased international economic activity and the rise of countries like the EU, Japan, China, and India as significant economic forces
• What are the Dimensions of globalization?

  Political Dimension, Economic Dimension, Ideological Dimension, Social Dimensions, Ecological Dimension, Technological Dimension
• What are the Dimensions of globalization?

  Political ,Economic , Ideological, Social ,Ecological , and Technological Dimension
• Globalization, as defined by Manfred Steger (2017), refers to the intensification and stretching of economic connection across the globe
• Globalization involves the movement of goods and services across the globe and the removal of trade barriers, deepening the economic interactions of several states in the global community
• The first wave of globalization is believed to have begun with the gold standard in the 1800s, where gold became the international standard currency and could be bought or sold at a fixed price
• After World War II, countries attempted to break down trade barriers, promote free trade, and set up global organizations like the World Bank and the International Monetary Fund (IMF)
• The Bretton Woods Agreement, negotiated in July 1944, established the U.S. dollar as the basis for other currencies and created the IMF and World Bank
• The IMF monitors exchange rates and provides global monetary support, while the World Bank offers assistance to countries devastated by war
• In the 21st century, changes in technology and international economic policies have reduced barriers to the free flow of goods, services, and capital, leading to increased international economic activity
• The importance of international trade in the world economy has increased, with countries like the European Union, Japan, China, and India becoming significant economic forces
• Globalization is a term describing how trade and technology have connected the world, leading to economic and social changes
• Scholarly definitions of globalization:

  • David Held and Anthony McGrew: expanding scale, growing magnitude, speeding up and deepening impact of interregional flows and patterns of social interactions
  • Anthony Giddens: intensification of world-wide social relations connecting distant localities
  • Manfred Steger: multidimensional social relations creating worldwide interdependence and fostering awareness of connections between local and distant
  • Roland Robertson and Kathleen White: composed of two directional tendencies including increasing global consciousness and connectivity
• Globalization encourages unity and harmony among states and non-state actors, enhances individuals' global community consciousness, and facilitates linkages between institutions
• Studying globalization bridges differences among local communities, promotes acceptable social practices, and helps understand changes in the international community
• Approaches to globalization:

  • World-Systems Model: discusses the growth of capitalism
  • Global Culture Model: focuses on the expansion of culture across national boundaries
  • Global Society Model: believes in the creation of a global society
  • Global Capitalist Model: sees capitalism as the peak of developments among countries
• Dimensions of globalization:

  • Ecological Dimension: emphasizes the connection between global environment issues and human activities
  • Technological Dimension: spread of technologies around the globe, particularly from developed to developing nations
• The term refers to the growing scale and impact of interregional flows and social interactions, transforming human organization and power relations across major global regions.

  David Held and Anthony Mcgrew
• Composed of two directional tendencies that include increasing global consciousness. Connectivity implies getting in touch with the outside world while consciousness means awareness and familiarity with the development in the international community.

  Roland Robertson and Kathleen White
• What are the approaches to globalization?

  World-Systems Model, Global Culture Model, Global Society Model, Global Capitalist Model
• It is considered as a starting point of the discussion of globalization in the field of the social sciences. Similar to other approaches, it discusses the growth and progress of capitalism that has engulfed almost all facets of development in the past several decades.

  WORLD – SYSTEMS MODEL
• Globalization, as defined by Manfred Steger (2017), refers to the intensification and stretching of economic connections across the globe
• Globalization involves the movement of goods and services across the globe and the removal of trade barriers, deepening the economic interactions of several states in the global community
• The first wave of globalization is believed to have begun with the gold standard in the 1800s, where gold became the international standard currency and could be bought or sold at a fixed price
• After World War II, efforts were made to break down trade barriers, promote free trade, and establish global organizations like the World Bank and the International Monetary Fund (IMF)
• The Bretton Woods Agreement, negotiated in July 1944, established the U.S. dollar as the basis for other currencies and created the IMF and the World Bank
• The IMF monitors exchange rates and provides global monetary support, while the World Bank offers loans and grants to countries in need
• In the 21st century, changes in technology and international economic policies have reduced barriers to the free flow of goods, services, and capital, leading to increased international economic activity
• The global economy opening up has increased the importance of international trade, with countries like the EU, Japan, China, and India becoming significant economic forces in the international economy
• Approximately 730 delegates from 44 countries met in Bretton Woods in July 1944 with the goals of creating an efficient foreign exchange system, preventing competitive devaluations of currencies, and promoting international economic growth