Contemporary World Reviewer
Contemporary World Reviewer
Contemporary World Reviewer
- People, things, information, places, and objects Different Definitions of Globalization from
tended to harden over time before the global age. Different Authors
4. Mittelman, 2000
“Manifestation of globalization includes the Global Issues
spatial reorganization of production, the 1. Population
interpenetration of industries across borders, the
spread of financial markets, the diffusion of 2. Food Production
identical consumer goods to distant countries, and 3. The Energy
massive transfers of population.
4. Military Issues
5. Economics
6 CORE CLAIMS OF GLOBALISM (Steger, 2005)
6. Environmental
1. Globalization is about the liberalization and
global integration of markets. 7. Poverty
a. Globalization in Economics – refers to the - for people in richer countries – helps to forge a
prevalent international movement of goods, capital sense of global community and transnational
services, technology, and information. solidarity.
b. Globalization in Politics – can take place above - for unskilled and indigenous people – high rising
the state through political integration patterns. building and increase mobility of economic
enterprise lead them to be displaced
Economic Relationship was established when: International Trade – exchange of goods and
- The Philippines bartered goods with China services between different countries.
(i.e porcelain, silk and other goods) International Finance – transfer of money between
- The Galleon Trade which is implemented by countries.
Spaniards in the Philippines - one of the primary features of a global economy.
- The Silk Road was introduced by China as the Global Investment – an investment strategy that is
oldest international trade route. not constrained by geographical boundaries.
- Bretton Woods System in 1944 was an attempt
to create institutional structures which would foster
international economic cooperation and
encourage the free flow of
World Bank
- an agreement made by the member states to - officially the International Bank for
eliminate restrictions on the use of currency for Reconstruction and Development
international trade.
- the most important element of the World Bank
Trade-Related Aspect of Intellectual Property Group
Rights (TRIPS)
- was established in 1944 at Bretton Woods and
- involves intangible ideas and knowledge, and began operations in 1946
expressions that require their users to be approved
by their owner.
- range of operating or performance measures that - it is the one that has significant investments and
the host country governments impose on foreign facilities in multiple countries and lack dominant
firms to keep them from having a distorting effect headquarters
on trade in goods and services.
Global Business – connects its talent, resources, and
World Trade Organization (WTO) opportunities across political boundaries.
- focus on trade places at the heart of economic Global Companies or MNCs operate on a global
globalization and has made it a magnet for those scale which means they have huge assets in almost
opposed either to the broader process of trade all countries they operate.
liberalization and promotion or to some specific
aspect of WTO operations management of offices in other countries is
controlled by one head office located in the home
GATT vs WTO country.
INSTITUTIONS GOVERNING
INTERNATIONAL RELATIONS
NATION-STATES
- richer and more economically developed region - became a quick-and-easy referent for the “poor
world” because it has been underdeveloped by the
- accounts for over 90% of all manufacturing rich or first world, through processes of
industries globalization and capitalist expansion.
- about 95% of the population have enough basic
needs and have access to functioning education
systems. The “Three Worlds Theory”
- economies of most countries in the South rely on The “three world theory” made no longer sense in
imports from the North and have low technological 1989-1991 – second world ceased to exist as the
penetration Soviet Union collapsed.
Socioeconomic benefits are expected from the - Low Literacy and School Enrollment Rates
development of new markets to promote regional
- Unskilled Labor Force
economic structures to provide alternative sources
of employment in rural - Poorly Developed Institutions
Asian Regionalism
Difference between Regionalization and
- is the product of economic interaction, not
Globalization
political planning.
REGIONALIZATION GLOBALIZATION
NATURE divides and area promotes
- it does not only make Asian economies richer but into smaller integration of
also make Asian countries closer together. segments called economies
regions across state
borders around
the world
MARKET monopolies are allows many
Asia was colonized by variety of major powers that more likely to corporations to
had left behind specific social, political, and develop – one trade on
economic legacies. producer control international
supply of good or level; allows
The multiplicity of colonial experiences served to services, and entry free market
emphasize differences among countries and of new producer is
societies of Asia. prevented of highly
restricted.
Cold War also divided the Asian Region. does not support Acceleration to
CULTURAL multiculturalism multiculturalism
ASEAN – the first major regional player to emerge AND through free and
SOCIETAL
and has been the center of regional developments, inexpensive
RELATIONS
including: APEC, ARF, ASEAN Plus Three, and
move of people
the East Asian Summit. regionalized area globalized
does not get international
involved in the communities
AID affairs of other are more willing
Regionalization vs. Globalization
areas. to aid countries
Processes of globalization and regionalization stricken by
disasters
reemerge during the 1980s and heightened after the
advance globalization
end of Cold War in the 1990s. TECHNOLOGICAL technology is has driven
ADVANCEMENT rarely available in great advances
Globalization – global. The increased flows of one country or in technology
goods, services, capita, people, and region
information across borders. (Jacoby and
Meunier, 2010)
Integration of Asia
Regionalization – regional. The societal
integration and often undirected process of societal Regional Integration – process by which two or
economic interaction. (Hurrell, 2007) more nation-states agree to co-operate and work
closely together to achieve peace, stability, and
- is the formal process of intergovernmental wealth.
collaboration between two or more states
(Ravenhill, 2008) In Asia, Southeast Asian countries have already
formed: