TCWD

• The term globalization is not new in the modern context. Many researches, debates and discussions were made as to the meaning of the word
• Students are expected to

  1. Define globalization

  2. Identify the underlying philosophies of the varied definitions of globalization
• Globalization definitions


  • Overview of the human experience in education
  • Interdependent world in its economical and informational dimensions
  • Development of an increasingly integrated global economy marked by free trade, free flow of capital, and tapping of cheaper foreign labor markets
  • Understanding of the world and the increased perception of the world as a whole
  • Incorporation of people of the world into a single world society
  • Intensifying social relationships among countries around the world connecting separate localities
  • Rapid interconnection worldwide linking people in local, national, and regional contexts
• Globalization


  Is the process of intensifying social relationships among countries around the world connecting separate localities in a manner in which local events are formed as a result of happenings that have occurred from afar
• Globalization has exerted a tremendously serious impact on each sovereign state. The transnational spread of capital and the formation of global markets have replaced the disintegrated economies of various countries
• Core claims of market globalism

  • Globalization is about
  • Globalization is inevitable and irreversible
  • Globalization denotes not an ideology, but a range of processes
• There is a rapid interconnection worldwide that links among people in the local, national and even in regional context. This interconnectedness is created because of social and economic relationships and networks which are relevant in the global interactions
• The five core claims of market globalism

  • Globalization is about
  • Globalization is inevitable and irreversible
  • Globalization denotes not an ideology, but a range of processes nesting under one rather unwieldy epithet
  • Globalization refers to an extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activity
  • Globalization is the spread of irreversible market forces driven by technological innovations that make the global integration of national economies inevitable
• Steger (2014): 'In the mid-1990’s, more population in the global north and south had accepted globalism’s core claims, thus internalizing large parts of its overarching neo-liberal framework that advocated the deregulation of markets, the liberalization of trade, the privatization of state-owned enterprises, and, after 9/11, the qualified support of the global ‘War on Terror’ under US leadership'
• Globalization should be confined to a set of complex sometimes contradictory, social processes that are changing our current social condition based on the modern system of independent nation-states
• The International Monetary Fund (IMF, 2000) identified some overviews of various areas of globalization
• Robert Hormats (1998): '‘The great beauty of globalization is that no one is in control.’'
• Most scholars of globalization have defined their key concept as a multidimensional set of social processes that create, multiply, stretch, and intensify worldwide social interdependencies and exchanges while at the same time fostering in people a growing awareness of deepening connections between the local and the distant
• IMF (2000) noted that globalization refers to an extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activity
• Globalization is anchored in the neo-liberal ideal of self-regulating market as the normative basis for a future global order
• The countries with the most advanced economies are the countries with the most modern technology based on science and knowledge
• Hutton & Giddens emphasized that globalization is the interplay of extraordinary technological innovation mixed with influence of the world that gives today’s changing its complexity
• No one is in control of the global market as it grows fast and is able to integrate markets
• Market globalism is always interlaced with a belief that markets have the capacity to use new technologies to solve social problems
• Francis Fukuyama (2000): '‘there exists a ‘clear correlation’ between the country’s level of economic development and successful democracy. While globalization and capital development do not automatically produce democracies, ‘the level of economic development resulting from globalization is conducive to the creation of complex civil societies with a powerful middle class. It is this class and societal structure that facilitates democracy’.'
• Globalization benefits everyone
• Thomas Friedman (1999:112-3): '‘No one is in charge but the global marketplace today is an Electronic Herd of often anonymous stock, bond, and currency traders and multinational investors, connected by screens and networks.’'
• Globalization furthers the spread of democracy in the world
• Global flows occur in different physical
• The term “globalization” has become a common word manifesting advances in modern technologies that have made international transactions, in both trade and finances, convenient, accessible, and easy


  1980’s
• Former First Lady Hillary Rodham Clinton (1999): '“The emergence of new businesses and shopping centers in former communist countries should be seen as the ‘backbone of democracy.’”'
• In 2018, President Trump may focus his energy on these campaign promises, putting the prosperity at risk
• President Trump intended to either renegotiate or withdraw from most of the United States’ international trade agreements during the 2016 presidential campaign
• President Trump declared the World Trade Organization “a disaster” in interviews
• President Trump announced the U.S. withdrawal from the Trans-Pacific Partnership in early 2017
• The negative impact of the U.S. withdrawal from the Trans-Pacific Partnership is already beginning to be seen, with potential decline in economic and political influence in Asia in 2018 and the years ahead
• President Trump began renegotiating the terms of the North American Free Trade Agreement, with talks likely to accelerate in 2018 and the pact’s unraveling a real possibility
• Since the end of World War II, the U.S. has taken the lead in setting up a multilateral, rules-based system of international trade
• International trade deals are an often-misunderstood part of U.S. economic policy, but they can have a large impact on the economy
• Under this system, world trade has expanded dramatically over the last 7 years
• Today, U.S. exports support over 11 million jobs, while imports of many staples from overseas
• Therborn (2000): '“THE GLOBAL ECONOMY”'
• Experts attribute part of tariff changes to GATT and the WTO
• In 1947, trade accounted for approximately 6 percent of U.S. gross domestic product, whereas it now accounts for approximately 15 percent
• Under this system, world trade has expanded dramatically over the last 70 years