Reviewer For TCW

Globalization Parent Enterprise
- the widening, deepening and speeding up of -an enterprise that controls assets of other entities in
worldwide interconnectedness in all aspects of countries
contemporary social life Foreign Affiliate
- a multidimensional phenomenon -incorporated enterprise in another country
Multinational Corporation
United Nations
-international identity belonging to a particular home
- an international organization formed in 1945 to
country
increase political and economic cooperation among its Transnational Corporation
member countries
-borderless company, no particular home country
- formed in the wake of World War II as a way to
Global Commodity Chain
reduce international tensions, promote human rights
-an idea that reflects upon the increasing importance
and reduce the possibility of other large-scale conflicts
of global buyers in a world of dispersed production
World Trade Organization Issues About Globalization
- a mediation entity that upholds the international rules -Capitalism
of trade between nations -Income Inequality
-help producers of goods and services, exporters, and -Environmental Problems
importers protect and manage their businesses International Monetary System
-refers to the rules, customs, instruments, facilities,
Economic Globalization and organizations for effecting international payments
-refers to the increasing integration of economies Gold Standard
around the world -functioned as a fixed exchange rate regime, with gold
-is a spread of trade, transportation, and as the only international reserve
communication systems on a global scale in the International Banks for Reconstruction and
interest of promoting international commerce Development (IBRD)
1. Protectionism -responsible for post-war reconstruction
 protecting one’s economy from foreign International Monetary Fund (IMF)
competition by creating trade barriers -promotes international financial cooperation and
2. Trade Liberalization buttress international trade
 reducing trade barriers to make international European Monetary Integration
trade easier between countries -aimed at the creation of a common market, where
Silk Road goods, services, capital and labor moved freely.
 best known example of old-fashioned globalization EU Three-Pillar Rescue Program
 ancient network of trade routes, formally establishes 1. European Financial Stability Mechanism;
during the Han Dynasty connecting Asia, Africa, and 2. European Financial Stability Facility; and
Europe 3. the financial assistance of the IMF.
Adam Smith Comparative Advantage Theory
-magnum opus, An inquiry into the nature and causes -causes free-trade
of the wealth of nations (1776) -when a country produces a good or service for a lower
The British and the Dutch East India Companies opportunity cost than other countries
-established in 1600 and 1602, respectively -became the rationale for free-trade agreements
-first multinational corporations Absolute Advantage Theory
Gross Domestic Product -anything that a country does more efficiently than
-monetary value of all the finished goods and services other countries
produced within a country's borders Competitive Advantage Theory
-indicator of the economic health of a country -provide a better value to consumers than its
-gauge of a country’s standard of living competitors
1870-1913 Core
-golden age of globalization -best in consumers of primary commodities and
Transnational Corporations (TNCs) producers of manufactured articles
-major players of present-day global economy
-main driving forces of economic globalization
Periphery
-worst of both worlds, as consumers of manufactures
and as producers of raw materials
General Agreement on Tariffs and Trade (GATT)
-first worldwide multilateral free trade agreement
World Trade Organization (WTO)
-its goal is to ensure that trade flows as smoothly and
predictably as possible
United Nations Conference on Trade and
Development (UNCTAD)
-promote trade and cooperation between the
developing and the developed nations
World-economy
-a large geographic zone within which there is a
division of labor and hence significant internal
exchange of basic or essential goods as well as flows
of capital and labor
Capitalist World-Economy
-collection of many institutions, the combination of
which accounts for its processes, and all of which are
intertwined with each other
Market Integration
- a situation in which separate markets for the same
product become one single market, for example when
an import tax in one of the market is removed
Free Trade
- wherein international trade (the importation and
exportation) left to its natural course without tariffs and
non-tariff trade barriers such as quotas, embargoes,
sanctions or other restrictions
MAJOR FREE-TRADE AREAS
1. North American Free Trade Agreement (NAFTA)
2. Association of Southeast Asian Nations Free Trade
Area (AFTA)
3. Southern Common Market (MERCOSUR)
4. Common Market of Eastern and Southern Africa
(COMESA)

Reviewer For TCW

Uploaded by

Copyright:

Available Formats

Reviewer For TCW

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Reviewer For TCW

Uploaded by

Copyright:

Available Formats

Globalization Parent Enterprise

You might also like