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Globalization Reviewer

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BaiArwa Talipasan
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15 views2 pages

Globalization Reviewer

Uploaded by

BaiArwa Talipasan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CHAPTER 1 (READ THE INTRODUCTION TO GLOBALIZATION-OVERVIEW)

 It was all about Gio, Latif and Laksa.

Latif took Gio to Malaysian restau.


 LAKSA- A rice noodle soup in a spicy curry

LESSON 1 DEFINING GLOBALIZATION

 Globalization - the integration of national economies through trade, investment, capital flow, labor migration, and
technology.
 It is the development of an increasingly integrated global economy marked especially by free trade, flree flow of
capital, and the tapping of cheaper foreign labor market (Miriam Webster)
 Other economist annd scholars defined globalization as the spread of products, technology, information, and jobs
across national borders and cultures.
 ECONOMIC TERMS- INTERDEPENDENCE OF NATIONS AROUND THE GLOBE FOSTERED THROUGH
FREE TRADE.
 GLOBALIZATION HAS CREATED NEW JOBS AND ECONOMIC GROWTH THROUGH CROSS-BORDERS
FLOW OF GOODS, CAPITAL, AND LABOR, HOWEVER, THIS GROWTH AND JOB CREATION IS NOT
DISTRIBUTED EVENLY ACROSS INDUSTRIES OR COUNTRIES.

McGrew describe globalization as something that is comprised of multiple sameness and interconnectedness that
go beyond the natio states.
It is a process in which individuals and organizations in one part of the world are affected by the activities, affairs,
and convictions in another part of the globe.

 Globalization primarily focuses on the economic process of interaction and integration that’s associated with
social and cultural aspects.
 The connection of different parts of the world resulting in the expansion of international cultural, economic, and
political activities.

 Early stage of globalization:


1. Gains from trade are small
2. The benefit of creating an economic union does not justify the loss of economies of scope.

 Cerny 1997- defines globalization a cluster of economic and political framework and procedures deriving from the
changing marks of the interest and assets that comprise the foundation of the international political economy.
 Widely accepted great interpretation- globalization is a science of extensive problems, each of which concern
everyone, and humanity in general as well, qualitative, and in their tendencies existential ways

Legitimate fields of Globalization are: e.g issues of ecology, raw materials, migration, the global health problems of the
world, energy, arms trading, drug crisis, or dilemamas of integration and world economy.

Reasons why Globalization are important:

 interconnects people and business across the world---leads to global cultural


 Political and economic integration
 Ability to move and communicate easily with others all over the world in order to conduct business
internationally.

Benefits brought about by Globalization:

 Allows access to new cultures


 Spread of technology and innovation
 Lower costs for products
 Higher standards of living across the globe
 Access to new markets
 Access to new talent
 International recruiting
 Managing employee immigration

Metaphor to best describe Globalization is liquidity which refers to the increasing ease of movement of people, things,
information, and places in the contemporary world.

THREE MAIN FACTORS AFFECT GLOBALIZATION:


1. ECONOMIC
2. SOCIAL
3. POLITICAL GLOBALIZATION

ECONOMIST AND ACADEMICIANS:

Prof. Theodore Levitt:


Globalization refers to the existence of free exchange of goods, services, culture, and even people, between and
among countries.
1. People become more interested to travel
2. People learn new languages IINTEGRATION (JOINING
3. People immerse themselves into new cultures and lifestyles. TOGETHER)

UNCTAD (United Nations Conference on Trade and Development):


Globalization is a closer integration of national economies through trade and financial flows as well as cross-border
migration of people.– globalization brings three freedoms
(Free movement of goods or products, services, capital or investment, and persons.

European Union, globalization is :


1. free movement of goods because of abolition of tariff – tax on imported goods.
2. free movement of capital or investment because of lifting of strict banking and financial regulations that encourage
investors
3. free movement of persons because of abolition of visa restrictions
a. wages hikes
b. privatization - to change from public to private
c. migration and outsourcing of jobs

Thomas Larsson (2001): Globalization is the modern term for colonization.


Martin Khor : Globalization is the onset of the borderless world.
Ohmae (1992) : Globalization’s definition is complex, multifaceted because it deals with either economic, political and
social dimensions. It is not easy to define because it has a shifting nature.

Thomas Friedman:
a. Globalization is about the liberalization and global integration of markets.
b. Globalization is inevitable and irreversible.
c. Nobody is in-charge of globalization.
d. Globalization benefits everyone.
e. Globalization furthers the spread of democracy around the world.
f. Globalization requires war on terror.

Manfred Steger (1960s) -who described globalization as a process, a condition, a system, a force, and age.

 Process- the expansion and intensificataion of social relations and consciousness across-world time and across
world-space.

 Committiee for Development Policy from an economic point of view defined globalization:

-as the increasing interdependence of world economies as a result of the growing scale of cross-border trade
of commodities and services,

GEOGRAPHY describe globalization as the set of processes (economic, social, cultural, technological, institutional)
that contribute to the relationship beetween socities and individuals around the world.

Metaphors used to define globalization:

1. Solidity - people, things, and places. These harden overtime and therefore have limited mobility
2. Liquidity - ideas, information and culture
3. Flows - movement of people, things, information, places, and even diseases spread around the world.

GLOBALIZATION THREE DIMENSIONS:


 ECONOMIC
 POLITICAL
 SECURITY

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