SS 23 CW Quiz 2 review set

• State: a political entity viewed as a group of people permanently occupying a territory, having their own government, and enjoying freedom from external control
• Nation: an organized society of people with a shared language, customs, and history, living under the same government and sovereignty
• Nation-state: a system where people with a common identity live in a country with firm borders and a single government, held together by physical boundaries, government, and shared identity
• The Westphalian System principles:

  • Each state enjoys inherent full sovereignty
  • Each state must respect the personality of other states
  • Territorial integrity and political independence of the state are inviolable
  • Each state has the right to choose and develop its systems
  • Each state must comply with international obligations and live in peace with other states
• Global governance: efforts towards socio-economic and political cooperation among transnational actors to address issues concerning more than one state or region
• International law: a set of rules accepted in relations among international subjects, promoting global peace and prosperity
• Doctrine of Transformation: international law must be transformed into municipal law through constitutional machinery
• Issues resolved through global governance include human rights, protection during conflicts, fight against terrorism, environmental concerns, trade, development, telecommunications, and transport
• Globalization: an extension of capitalism integrating local and national economies into a global economy
• Doctrine of Incorporation: international law is automatically part of municipal law without the need for constitutional ratification
• North-South divide: a socio-economic and political grouping of states, with the North being developed and the South developing
• Causes of inequalities in the North-South divide:

  • Availability of natural resources
  • Different levels of health and education
  • Economic nature and industrial sectors
  • International trading policies
  • Governance and international relations
  • Conflict and vulnerability to natural hazards
• Producer-driven commodity chains are dominated by lead firms that control the chain and coordinate the activities of suppliers and distributors

  
• Trade-based Globalization (1970-95) saw a shift to export-oriented industrialization and a transition from producer-driven to buyer-driven commodity chains
• Digital Globalization (1995 onwards) is characterized by the increasing interconnectedness of economies driven by advancements in digital technology, such as the internet revolutionizing communication, information access, and consumer behavior
• Economic Globalization:

  • International exchange of goods and services expressed through monetary units of money
• According to the International Monetary Fund (2008), for the world to integrate, countries need the movement of goods, services, and capital across borders
• Sometimes, to achieve "country goals," there must be movement among people in terms of labor and knowledge, and in terms of technology
• Example: In the 1960s, America had a shortage of nurses and funds, resulting in the immigration of Filipino nurses abroad
• Economic Globalization:

  • Trade of goods and services
  • Trade means the exchange of goods, currency, knowledge, or anything capable of being received and given
  • Barter: international exchanges of commodities and services among nations as a result of increasing external demand
• Dimensions of economic globalization:

  • Trade of goods and services
• An increase in intensity, intensity, and velocity of intercontinental exchanges with a clear economic impact (Held, D. et. al., 1999)
• Barter: International exchanges of commodities and services among nations as a result of increasing external demand
• Dimensions of economic globalization:

  • Trade of goods and services
  • In globalization, when a country exports more than it imports, it runs a trade surplus
  • When a country imports more than it exports, it runs a trade deficit
• Example of trade surplus:

  • Pag sinabi na ting trade surplus, mas maraming pinapalabas ng isang bansa kesa sa hinihingi neto sa kanyang mga kalapit bansa
  • Let’s take Russia as an example. Russia is a major contributor of petroleum worldwide. Noong pumutok ang digmaan, natigil ang produksyon neto, ang resulta, mabilisang pagmahal ng diesel at gas sa ating bansa. (Russia - 1, Philippines - 0)
• Example of trade deficit:

  • Kapag trade deficit naman, pwede nating gamitin ang example ang pagtaas ng presyo ng sibuyas sa Pilipinas
• Dimensions of economic globalization:

  • Trade of goods and services
  • Example: when there is a trade deficit, the price of imported goods in the Philippines increases due to the lack of local production, leading consumers to buy from China to reduce the price in our country

  
• Globalization of financial and capital markets:

  • Capital flows across national boundaries involving commercial banks, large corporations, non-bank financial institutions, central banks, and other entities
• Globalization of technology and communication (media globalization) aims to define cross-cultural development and exchange of technology worldwide
• The battle of Waterloo:

  • 18 June 1815
  • Opposed the French army of Napoleon Bonaparte to a coalition of European armies led by the Duke of Wellington and Marshal Blücher
  • Took place near Waterloo, Belgium
  • Won by the allied forces
• Globalization of technology and communication involves:

  • Globalization of production
  • Knowledge
  • Intellectual property rights
  • Instruments
  • Change
• Intellectual property rights refer to the legal rights given to the inventor or creator to protect his invention or creation for a certain period of time
• Globalization of production has flourished with the gradual dismantling of trade barriers
• The gradual dismantling of trade barriers has led to the globalization of production
• Globalization of production flourished, allowing products to have components from different locations
• Even though a product may bear the mark of being produced in a particular country, its components may come from different locations
• This explains why a product like ketchup may be made in China
• Economic globalization is a historical process resulting from human innovation and technological progress, involving the increasing integration of economies worldwide through the movement of goods, services, capital, labor, and technology across borders
• Globalization of trade of goods and services involves international exchanges of commodities and services among nations due to increasing external demands, leading to a more efficient flow of goods and services across borders
• Globalization of financial and capital markets refers to capital flows across national boundaries, integrating world financial markets through banks, non-bank financial intermediaries, and the surge in the use of new financial instruments