Lesson 5

    Cards (20)

    • Global Network
      Dynamic and flexible types of connection between individuals, groups, or organizations that crisscross the world
    • Global Network
      • A set of units manifesting certain ties or relationships that exist and operate beyond territorial borders
      • Capable of crossing "borders" and connecting to more than one country
      • Long-term movements across a boundary
      • Not confined within a particular country
    • Types of Global Networks
      • Technical Global Networks (adopted from telecommunications systems that utilize a variety of satellite, cable, and wireless technology)
      • Interpersonal Global Networks (cross-border groups such as migrants, aid, social workers, advocacy groups)
    • Globalization
      It goes "across political and cultural boundaries which creates intensive as well as spatially extensive interconnections between a range of institution and actors; and develops transnational processes, institutions, and ways of interpreting the word as a single space"
    • Economies of different countries around the world become increasingly assimilated over time
    • Globalization is hastened by technological advancements
    • Globalization leads to greater access to different varieties of goods and services
    • Globalization affects politics, economics, environment, culture
    • Elements of Globalization
      • Privatization
      • Deregulation
      • Liberalization
    • Privatization
      Policies of the government to transfer government-owned corporations and sell them to the private sector, profit-driven, making services more expensive
    • Deregulation
      Streamlining government's control over the industry for basic supplies, less government intervention with certain companies as long as they provide valid reasons for their actions
    • Liberalization
      Laws restrictive of importation of products are modified or totally abolished, products of developed countries can now penetrate the markets of developing countries and the least developed nations
    • Types of Globalization
      • Economic Globalization
      • Cultural Globalization
      • Political Globalization
    • Economic Globalization
      Economic process that involves the movement of economic resources from one country to another, investment of capital-rich countries in poorer countries, natural resources of developing countries are sold to developed countries
    • Cultural Globalization
      The selling of books, films, and music to the international market, internationalization of Western media and entertainment, Asian entertainment industry also keeps up with this
    • Political Globalization

      Establishment of union of nations such as the EU, ASEAN, APEC, and the UN, placing universal standards for all governments, binding member-states to perform obligations and commitments of the organizations
    • Effects of Globalization
      • Provides an increase in global output
      • Brings the best technology and other forms of intellectual capital to countries that cannot produce it
      • International capital flows can transfer saving from countries where the marginal product of capital is low to those where it is high
      • Influences the distribution and levels of income
    • Oppositions to Globalization
      • Erosion of cultural diversity, produced a unified global system of culture and economic values
      • Unrestricted global trade yield increasing inequality between developed and developing countries
      • Globalization reduces the sovereignty of nations in economic policy creation
      • Leads to the erosion and decay of cultures and traditions of countries
    • Technical Global Networks
      Adopted from telecommunications systems that utilize a variety of satellite, cable, and wireless technology
    • Interpersonal Global Networks
      Cross-border groups such as migrants, aid, social workers, advocacy groups
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