Ge8 prelim

• Globalization


  A process of interaction and integration among countries - their people, government, companies
• Globalization


  • Being facilitated by international trade and investment
  • Aided by information technology
• Globalization


  The integration of economies through markets across frontiers
• Globalization


  The "death of distance"
• Globalization


  The international integration of markets for goods, labour and capital
• Aspects of globalization


  • Expanded international trade
  • Monetary coordination
  • Multinational corporations
  • Telecommunications
  • Technical and specific cooperation
  • Cultural exchanges
  • Migration and refugee flows
  • Relations between rich and poor countries
  • Relations between humans and the natural environment
• Globalization


  The inexorable (inevitable) integration of markets, nation-states and technologies to a degree never witnessed before
• Globalization


  A special phase of world history that started in 1989 with the retreat of communism
• Globalization


  The emergence of a complex web of interconnectedness that means our lives are increasingly shaped by distant events and decisions
• Aspects of globalization


  • Economic globalization
  • Cultural globalization
  • Political globalization
• Globalization


  A transplanetary process involving increasing liquidity and growing multidirectional flows of people, objects, places, information, and the structures that expedite or hinder those flows
• Globalization


  The increasingly global relationships of culture, people, and economic activity, particularly the global distribution of production and reduction of trade barriers
• Common themes of globalization

  • Creation and multiplication of social networks and activities
  • Expansion and stretching of social relations, activities and interdependencies
  • Intensification and acceleration of social exchanges and activities
  • Processes involving the subjective plane of human consciousness
• Globalization


  The expansion and intensification of social relations and consciousness across world-time and world-space
• Globalization


  Movement towards greater interdependence and integration
• Alter-globalization


  Changing the current system to make it more humane, more pro-environment, and more grass-roots driven
• Manifestations of globalization in economics

  • Multinational corporations operating globally
  • Outsourcing adding to economic development
  • Cars using parts from multiple countries
  • Shirts made from Chinese cotton by Thai workers and shipped on a French freighter
• Manifestations of globalization in culture

  • Silk Road allowing exchange of goods, culture and knowledge
  • Christian missionaries spreading Christianity
  • Food as a factor of globalization
  • Satellite TV allowing global spread of shows like K-pop
  • Exposure to diverse cultures and lifestyles
  • Homogenization of values
• Manifestations of globalization in technology

  • The internet contributing to globalization
  • Global news networks spreading knowledge
  • Cellphones connecting people globally
  • Increased international travel and tourism
• Manifestations of globalization in politics

  • Role of governments in international affairs and the global economy
  • International relations and inter-state alliances
  • Colonization and great wars
  • Multilateral organizations
  • Global approach to peace-building, environmental protection, human rights, and international law
• Pro-globalization


  • Freeing corporations from government regulation
  • Encouraging capitalist investment
  • Privatizing industries and services
  • Belief that global economic integration benefits everyone by spreading freedom and democracy
• Anti-globalization


  • Seeing globalization as promoting a corporatist agenda that constricts individual freedom for profit
  • Wanting to end an imbalanced system that favors first world countries, corporations, and profit over sustainability and humane conditions
• Advantages of globalization


  • Peaceful economic and political partnerships
  • Employment opportunities
  • Educational benchmarking and exchanges
  • Improved product quality to meet international standards
  • Cheaper prices due to competition
  • Faster and more direct communication and access to information and products
  • Faster, cheaper, and more convenient transportation
  • GDP increase
  • Trade liberalization and free trade
  • Easier and faster travel and tourism
  • Better access to external finance
• Disadvantages of globalization


  • Rise in health risks like HIV/AIDS and COVID-19
  • Preference for foreign culture leading to culture loss
  • Uneven wealth distribution
  • Environmental degradation and lack of sustainable development
  • Economic and technological divide
  • Conflicts like terrorism and violence
  • Cut-throat competition leading to economic loss of local markets
• Scapes of globalization


  • Ethnoscape (global movement of people)
  • Mediascape (flow of culture and information)
  • Technoscape (circulation of mechanical goods and software)
  • Financescape (global circulation of money)
  • Ideoscape (diffusion of political ideologies)
• Globalization involves multiple and intersecting dimensions of integration
• The global economy refers to the international exchange of goods and services, including the free movement of goods, capital, services, technology and information
• Economic globalization


  A situation where countries trade with many other countries and trade barriers are reduced to allow freer flow of goods and services
• Economic integration


  Countries working together to improve and share products, share technologies, and coordinate policies for economic growth, development, poverty reduction, employment, and higher living standards
• Factors driving economic integration

  • Regional integration and organizations
  • Financial assistance and loans
  • Expansion of global corporations
  • Trade liberalization
  • Foreign direct investment
  • Elimination of trade barriers
• The history of economic integration includes the barter system and the technological boom leading to large-scale industry, mechanized manufacturing, and the factory system
• Economic integration


  Countries are working together to improve and share products, encourage to share their technologies with other countries to improve production, countries economically integrated for the benefit of all, toward economic growth and development- poverty reduction, increasing employment and raising the standard of living of the people
• 3 factors towards economic integration

  • Regional Integration
  • Financial assistance and loans
  • Expansions of Global Corporations
  • Trade Liberalization
  • Foreign Direct Investments
  • Elimination of trade barriers to achieve free flow of goods and services
• History of economic integration

  1. Barter system

  2. Mercantilism

  3. Industrial revolution
• Key players of economic globalization

  • International organizations
  • Large manufacturing corporations
• Protectionism


  Protecting one's economy from foreign competition by creating trade barriers
• Trade liberalization


  Reducing trade barriers to make international trade easier between countries
• Protective barriers/measures


  • Tariff
  • Quota
  • Non-tariff barriers
• Market integration


  It occurs when prices among different locations of related goods follow similar patterns over a long period of time. Group of goods often move proportionally to each other and when this relation is very clear among different markets it is said that the markets are integrated
• International Financial Institutions (IFIs)


  Chartered by more than one country and therefore are subjects to international law. Owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders. Established to assist and offer various ways and strategies to countries for economic cooperation particularly for global financial system management