Globalism and Globalization Concepts
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Questions and Answers

What is the primary focus of Justice Globalism?

  • Promotion of social justice and equity (correct)
  • Elimination of trade barriers
  • Emphasis on privatization of state-owned enterprises
  • Support for financial market liberalization
  • Which of the following concepts is NOT a key feature of Market Globalism?

  • Deregulation of markets
  • Advocacy for environmental sustainability (correct)
  • Privatization of state-owned enterprises
  • Financial market liberalization
  • What does economic globalization primarily involve?

  • Isolated national economies
  • Interconnectedness and interdependence of global economies (correct)
  • Strict national policies
  • Self-sustaining local economies
  • What does Economic Globalization primarily result from?

    <p>Growing scale of cross-border trade</p> Signup and view all the answers

    Which historical trading route connected Asia to Europe and the Middle East?

    <p>Silk Road</p> Signup and view all the answers

    Which principle does Justice Globalism advocate for besides social equity?

    <p>Protection of human rights and labor standards</p> Signup and view all the answers

    Which is NOT a component of economic globalization according to the content?

    <p>Welfare systems</p> Signup and view all the answers

    What was the objective of European countries during the Age of Mercantilism?

    <p>To sell more goods and boost national economies</p> Signup and view all the answers

    What aspect of International Trade involves agreements and institutions governing trade activities?

    <p>Trade systems</p> Signup and view all the answers

    What is protectionism?

    <p>Systematic government intervention in foreign trade</p> Signup and view all the answers

    What is the purpose of import licenses in trade regulations?

    <p>They require permission for businesses to import certain goods.</p> Signup and view all the answers

    What is one of the core principles of Economic Globalization?

    <p>Rapid spread of technologies</p> Signup and view all the answers

    How does the Gold Standard function?

    <p>Directly linking a country's currency value to gold</p> Signup and view all the answers

    What is the purpose of tariffs in protectionism?

    <p>To raise prices on imported goods</p> Signup and view all the answers

    Which feature is associated with Market Globalism in relation to trade?

    <p>Elimination of trade barriers</p> Signup and view all the answers

    Which of the following best describes the Galleon Trade?

    <p>Trade linking the Philippines and the Americas</p> Signup and view all the answers

    Which of the following is a feature of Religious Globalism?

    <p>Examining religious movements’ interactions with global processes</p> Signup and view all the answers

    Which of the following barriers is not considered a tariff?

    <p>Licensing rules for goods.</p> Signup and view all the answers

    What defines a trade embargo?

    <p>A government restriction on trading certain products.</p> Signup and view all the answers

    Which type of currency is characterized by its value being determined by market forces?

    <p>Floating currency</p> Signup and view all the answers

    Which of the following represents an international governmental organization?

    <p>NATO</p> Signup and view all the answers

    What is the primary focus of an international non-governmental organization (NGO)?

    <p>To solve problems benefiting undeveloped countries.</p> Signup and view all the answers

    What does trade liberalization refer to?

    <p>The removal or reduction of restrictions on the exchange of goods.</p> Signup and view all the answers

    What distinguishes fixed exchange rate currency from floating currency?

    <p>Its value is tied to a specific asset or basket of currencies.</p> Signup and view all the answers

    What defines a multinational corporation?

    <p>A corporation with operations in at least two countries.</p> Signup and view all the answers

    Which type of multinational corporation maintains autonomous offices globally?

    <p>Decentralized Corporation</p> Signup and view all the answers

    What is a key characteristic of a centralized multinational corporation?

    <p>The central headquarters manages all operations.</p> Signup and view all the answers

    What does automation refer to in the context of business operations?

    <p>Using technology to perform tasks with little human intervention.</p> Signup and view all the answers

    What are the shareholders of a corporation responsible for?

    <p>Electing the board of directors.</p> Signup and view all the answers

    What is the primary function of the board of directors in a corporation?

    <p>Make high-level strategic decisions.</p> Signup and view all the answers

    What leads to backlash against economic globalization?

    <p>Resistance to the concept of MNCs.</p> Signup and view all the answers

    What do knowledge gaps in governance primarily refer to?

    <p>Absence of empirical information</p> Signup and view all the answers

    Which type of gap is characterized by a lack of political will to enforce agreements?

    <p>Compliance Gaps</p> Signup and view all the answers

    Normative gaps often lead to what outcome in governance?

    <p>Disputed knowledge about norms</p> Signup and view all the answers

    What can policy gaps cause in the context of governance?

    <p>Inaction and crises</p> Signup and view all the answers

    Which of the following is NOT one of Arjun Appadurai's 'scapes' related to globalization?

    <p>Agroscape</p> Signup and view all the answers

    What does the term 'Ethnoscape' refer to in Appadurai's framework?

    <p>Movement of people</p> Signup and view all the answers

    What type of gap arises when there is insufficient information about emerging issues?

    <p>Knowledge Gaps</p> Signup and view all the answers

    The flow of cultural elements across societies is referred to as what in Appadurai's scapes?

    <p>Mediascape</p> Signup and view all the answers

    Study Notes

    Market Globalism

    • Advocates for free trade, deregulation, privatization, and financial market liberalization
    • Aims to eliminate trade barriers and reduce government regulations on markets
    • Emphasizes privatizing state-owned enterprises for efficiency
    • Encourages opening financial markets to foreign investors

    Justice Globalism

    • Focuses on social justice, equity, environmental sustainability, human rights, labor standards, and democratic governance
    • Advocates for wealth redistribution to address global inequalities
    • Emphasizes sustainable development and ecological health
    • Supports the protection of human rights and labor rights globally
    • Calls for accountability in global governance

    Religious Globalism

    • Examines the interaction of religious movements with global processes
    • Highlights the establishment of transnational religious communities

    Globalization of World Economies

    • Increasing interdependence of world economies
    • Result of growing cross-border trade of commodities and services, flow of international capital, and rapid spread of technologies

    International Trade System

    • Framework regulating exchange of goods and services
    • Involves rules, agreements, and institutions governing trade activities

    International Trade

    • Focuses on the exchange of goods and services between countries

    International Trading System

    • Process where goods, commodities, and services cross national boundaries in exchange for money or goods

    Historical Context of International Trading System

    • Silk Road: Ancient trade network from China to the Middle East and Europe, operated from 130 BCE to 1453 BCE, did not reach the Americas
    • Age of Mercantilism (16th to 18th Century): European countries competed for colonial benefits, aiming to sell more goods to boost national economies

    Galleon Trade (1571)

    • First connection between Asia (Philippines) and the Americas (Acapulco, Mexico)

    The Gold Standard (1865)

    • Monetary system where a country's currency value is directly linked to gold
    • Adopted by the US, UK, and other European nations

    Types of Economies Associated with Economic Globalization

    • Protectionism: Government intervention in foreign trade to encourage domestic production
    • Involves restricting imports and foreign competition
    • Protectionism Measures:
      • Tariffs: Taxes on imported goods, increasing their prices
      • Quotas: Limits on the quantity of specific goods imported
      • Subsidies: Financial support to domestic industries to lower production costs
      • Import Licenses: Permission required to import certain goods
      • Regulations and Standards: Strict product standards imposed on foreign goods

    Trade Liberalization

    • Removal or reduction of restrictions on the free exchange of goods
    • Barriers include tariffs, non-tariff barriers (licensing rules and quotas)

    Trade Embargo

    • Government-imposed restriction on trade of certain products, goods or services
    • Restricts buying and selling with the affected country or entity

    Types of Currency

    • Representative currency: Backed by a commodity like gold
    • Floating currency: Value fluctuates based on market forces
    • Fixed exchange rate/Pegged currency: Value tied to another currency

    Backlash of Economic Globalization

    • Negative reactions or resistance to increased global integration of economies

    Corporation

    • Business owned by shareholders and overseen by an elected board of directors
    • Treated by law like a single person

    Multinational Corporation (MNC)

    • Corporation with overseas branches in at least two countries
    • Often has headquarters in one country and subsidiaries, manufacturing plants, and offices in other nations
    • Types:
      • Decentralized: Each office manages its own local business
      • Centralized: Central headquarters manages overseas and domestic operations
      • Transnational: Parent company oversees subsidiaries in foreign and home countries

    Automation

    • Technology and processes used to perform tasks with minimal human intervention

    Gaps of Global Governance

    • Five categories:
      • Knowledge Gaps: Lack of information or explanations about the nature, causes, and magnitude of a problem
      • Normative Gaps: Disputed knowledge about universally accepted norms
      • Policy Gaps: Inaction on emerging issues, potentially leading to crises
      • Institutional Gaps: Institutions lacking necessary resources and autonomy
      • Compliance Gaps: Lack of political will to implement agreements

    Arjun Appadurai's Scapes

    • Globalization occurs across multiple dimensions:
      • Ethnoscape: Movement of people
      • Mediascape: Flow of culture
      • Technoscape: Circulation of technology and software
      • Financescape: Movement of capital
      • Ideoscape: Flow of political ideas

    Actors of Globalization

    • International Governmental Organizations (IGOs): Entities created by treaty, involving two or more nations to work on common interest issues
      • Example: United Nations
    • International Non-Governmental Organizations (NGOs): Non-profit, voluntary citizen groups organized at local, national, or international levels
      • Work towards benefitting developing countries facing backlash from economic globalization

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    Description

    Explore the various facets of globalism, including market globalism, justice globalism, and religious globalism. This quiz examines the impacts of these ideologies on world economies and their influence on social justice, environmental sustainability, and international relations. Test your understanding of how these concepts shape the interconnectedness of our global society.

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