GLOBALIZATION OF WORLD ECONOMICS

Oldest form of international trade route is the SILK ROAD from China. (130 BC; Han Dynasty)

According to Dennis O. Flynn and Arturo Giraldez, the age of globalization began when all important
populated continents began to exchange products continuously--- both with each other directly and
indirectly via other continents--- ang in value sufficient to generate crucial impacts on all trading partners.

Ex: Galleon trade of Acapulco, Mexico and Manila, Philippines

MERCANTILISM (16TH - 18TH CENTURY)

Sell more goods as a means to boost their country’s income. (monetary reserves)

To defend their products from competitors who sold goods more cheaply, the monarchs imposes high
tariffs, forbade other colonies to trade with other nations, restricted trade routes and subsidized its
exports.

Gold Standards

A more open trade system in 1867, following the UK, the US and other European Nations adopted this as
an international monetary conference in Paris

Its goal was to create a common system that would allow for more efficient trade and prevent
ISOLATIONISM of the mercantalinist era.

A common basis for currency prices and a fixed exchange rate system. But still it was restrictive once one
country ran out of gold reserves and adopted floating currencies that were no longer redeemable in gold.

Great Depression: The worst and longest recession ever experienced by the western world. Argued by
some economists that it was largely caused by the Gold Standard, since it limited the amount of circulating
money and therefore reduced demand and consumption.

FIAT CURRENCIES

Today, the world economy operates based on this. Currencies that are not backed by precious metals and
whose value is determined by their cost relative to other currencies.

It allows governments to freely and actively manage their economies by increasing and decreasing the
amount of money in circulation as they see fit
BRETTON WOODS SYSTEM

After the World Wars, world leaders sought to create a global economic system that would ensure longer
lasting world peace by means of setting up a network of Global Financial Institutions that would promote
economic interdependence and prosperity.

Inaugurated in 1944 during the United Nations Monetary and Financial Conference.

Largely influenced by the ideals of a British economist, John Meynard Keynes who believe that economic
crises occur not when a country does not have enough money, but when money is not being spend and
therefore, thereby not moving.

Keynesianism – an active role of government in managing spending by reinvigorating markets with

infusions of capital.

TWO FINANCIAL INSTITUTUONS

WORLD BANK

Once known as the International Bank for Reconstruction and Development (IBRD)
Responsible for funding post war reconstruction projects.
INTERNATIONAL MONETARY FUND (IMF)
Global lender of last resort to prevent individual countries from spiraling into credit crises.

GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)

Started in 1947, its main purpose was to reduce tariffs and other hindrances for free trade.

RISE OF NEOLIBERALISM
When oil prices rose sharply in the 1970’s as a result of the Organization of Arab Petroleum Exporting
Countries (OAPEC), the Arab member-countries of the Organization of Petroleum Exporting Countries
(OPEC) imposition of an embargo in response to the decision of the US and other countries to re-supply
the Israeli military with the needed arms during the YUM KIPPUR WAR.

Arab countries also used the embargo to stabilize their economies and growth. The “OIL EMBARGO”
affected the western economies that were reliant on oil.

The Stock Market crashed in 1973-1974 after the US stopped linking the dollar to gold. (ending the Bretton
Woods System)
Resulted to Stagflation – decline in economic growth and employment along side sharp increase in prices.

Economists Friedrich Hayek and Milton Friedman argued that the government’s practice on pouring
money into their economies had caused inflation by increasing their demand for goods without necessarily
increasing supply.

They argued that government intervention in economies distort the proper functioning of markets.

WASHINGTON CONSENSUS

Dominated in the 1980s – early 2000s

Pushed for minimal government spending to reduce government debt.

Called for privatization of government controlled services (water, power, communications and transport)
believing that the free market can produce the best results.

Pressured governments to reduce tariffs and open up their economies.

Along the way there are certain industries would be affected but advocates of this consensus says that it is
a “shock therapy” necessary for long term economic growth.

DEFECTS OF WASHINGTON CONSENSUS

POST COMMUNIST RUSSIA

After communism collapsed in the 1990s, the IMF called for the immediate privatization of all government
industries.

However, the previous communist regime has the money and the capability to purchase such industries.
The economic elites relied on easy access to government funds to take over the industry.

It entrenched an oligarchy that still dominates the Russian economy to this very day.
In their attempt to promote the free market, US government authorities failed to regulate bad
investments occurring in the US housing market.

Cheap Housing loans; Americans began building houses that were beyond their financial capabilities.

Mortgage backed Securities (MBS) to avoid the risk of these loans.

Economic Globalization Today

After all the progress that free market had brought to every countries in the world, IT STILL REMAINS AN
UNEVEN PROCESS.

Due to some countries, corporations, and individuals benefiting a lot more than others.
Developed countries are often protectionists as they repeatedly refuse to lift policies that safeguard their
primary products that could otherwise overwhelmed by imports from the developing world.

🞄 Example:
Japan on Rice Imports to protect their farmers.

US in their sugar industry: forcing consumers and sugar dependent industries to pay a high price instead of
getting cheaper sugar from plantations in Central America.
Therefore:

International policy makers should strive to think of ways to make trading deals fairer.

Governments must also continue to devise ways of cushioning the damaging effects of economic
globalization, while ensuring that its benefits accrue to anyone.

HISTORY OF GLOBAL POLITICS: CREATING AN INTERNATIONAL ORDER

WORLD POLITICS OF TODAY

Countries and States are independent and govern themselves.

Countries interact with each other through diplomacy.

International Organizations facilitate these interactions.

International organizations also take on lives of their own (WHO, ILO)

ORIGIN

NATION-STATE CONCEPT

Relatively modern phenomenon of human history.

Two Non-interchangeable terms:

Not all states are nations

Not all nations are states

Difference between Nation and State

NATION

“Imagined Community” (Benedict Anderson)

Limited because it does not go beyond a given “official boundary”.

Rights and Responsibilities are mainly the privilege and concern of the citizens of that nation.

Has its boundaries

Ex. Anyone can become Catholic if one chooses to.

STATE

Refer to a country and its government.

Has four attributes:

Exercise authority over a specific population (Citizen)

Specific Territory

Structure of Government that crafts various rules that the society follows.

Sovereignty over its territory

Internal and External authority

CLOSE RELATIONS OF NATION AND STATE

NATIONALISM facilitates state formation

In the modern and contemporary era, Nationalist movements allowed the creation of nation- states

States become independent and sovereign because of nationalist sentiment that clamors for this
independence.

SOVEREIGNTY

Fundamental principles of modern state politics.

INTERSTATE SYSTEM

INTERNATIONALISM
HISTORY OF INTERSTATE SYSTEM

TREATY OF WESTPHALIA (1648)

Origin of the present day concept of Sovereignty.

This ends the “Thirty Years War”
Exercise complete control over their domestic Affairs and swear not to meddle in each other’s affairs

NAPOLEONIC WARS (1803 - 1815)

Implemented the “Napoleonic Code”

Spreading the principles of the French Revolution (Liberty, Equality and Fraternity)
Defeated in the Battle of Waterloo by the Prussians and Anglo.
HISTORY OF INTERSTATE SYSTEM

INTERNATIONALISM - A system of heightened interaction between various sovereign states; desire for
greater cooperation and unity among states and peoples.

Two forms:

Liberal (Immanuel Kant, Guiseppe Mazzini)

Socialist (Karl Marx, Friedrich Engels,Vlademir Lenin, Joseph Stalin)

SUMMARY

INTERNATIONALISM is but one window into the broader phenomenon of globalization. It is also a very
crucial aspect of globalization since global interactions are heightened by the increase interdependence of
states.

International Relations are facilitated by International Organizations that promotes global norms and
policies. (UNITED NATIONS)
Music in the Contemporary World
What is Music?
Language of the soul
With an aesthetic element
Virtuosity
Reflection of one’s way of living
Sound, voice, instruments
Harmony, Resonance,
Describe one’s spirituality
Breaks down barriers

Music: Social and Cultural

It is the way we express our interaction with other people depending on the existing norms and
mores he/she belongs.

Religion (Gregorian)
Indigenous/Cultural Groups (Ethnic, Traditional)
Old Western (Classical, Romantic)
Contemporary (Blues, Reggae, Jazz, Motown, Pop, ELECTRONIC)

Music: Art

An expression of an individual’s emotions, thoughts, dreams and appreciation of beauty.

Music: Science
There are wealth of studies on the effects of musical training on cognitive and social skills.

Many of them have found significant benefits, especially in areas such as spatio-temporal reasoning,
language skills, self-esteem, and persistence.

How does music affects our modern world?

Physical
Clothing -

Punk Rock performers usually wear spikes, chains, leather the color black and torn jeans.

K-pop fans will most likely wear short pants, colorful dresses and make-up.
Most teens tend to dress like their peers. They pick up styling tips from artist and the trend that
never ends.

Mental

Teenagers see music as their “get away”. They see music has an important role in their life.
They are affected on the music they listen to mentally (violence, being more sexually active, drugs,
use of language.)
Emotional

Teenagers use music to label their emotions.

Struggling with issues dealing with adolescence, loneliness, depression, etc.

Used as a mood identifier (positive or negative)

In the Philippine Context

Spanish Period (1800’s)

Liturgical/Sacred Music
Secular (Kundiman, Harana, Oyayi, Sarswela)
20th Century (1900-1999)
Exposed to different music genres (Neo-classical, Jazz, sentimental songs, Rock and Roll)
Patriotic Songs (Bayan Ko, Handog ng Pilipino sa Mundo)
Original Pinoy Music was born (OPM)
Boy and Girl Band Groups (Backstreet Boys, Spice Girls)
In the Philippine Context

21st Century (2000-present)

Novelty Songs (Pamela One, Otcho-Otcho)

Pinoy Alternative Rock (E-heads, Parokya ni Edgar)
Modern Pop Music
Influence of different cultural music (J-rock/J-pop, K-pop)
Conclusion:

Music can be both an influencer and the one that is influenced.

In this contemporary world, music has a major role in molding of man’s current reality.
No matter what time frame it may be, music is here to stay and continues to adapt to the changes of
our world.