Podcast Beta
Questions and Answers
What is globalization primarily described as?
According to George Ritzer, globalization involves the movement of what?
What does Aton Kay Macromer Luis emphasize about globalization?
What is described as a defining characteristic of globalization?
Signup and view all the answers
Which perspective posits that globalization has 6 waves or periods?
Signup and view all the answers
What is the primary focus of economic globalisation?
Signup and view all the answers
What distinguishes transnational companies from multinational companies?
Signup and view all the answers
Which term refers to hiring a foreign company to perform services for cost reduction?
Signup and view all the answers
Which type of outsourcing involves hiring a neighboring country's company?
Signup and view all the answers
What is a common purpose of outsourcing for companies?
Signup and view all the answers
What does domestic outsourcing refer to?
Signup and view all the answers
What is a primary goal of guarded globalization?
Signup and view all the answers
According to fair trade principles, what is a key focus?
Signup and view all the answers
Who emphasized the need to assist the 'Bottom Billion'?
Signup and view all the answers
What does technological and socio-cultural globalization involve?
Signup and view all the answers
What event is associated with the late 15th century?
Signup and view all the answers
Which period is known for the peak of Western imperialism?
Signup and view all the answers
What significant ideological division occurred after World War II?
Signup and view all the answers
What was a key factor in the emergence of globalization during the mid-20th century?
Signup and view all the answers
Which of the following was NOT a precursor to globalization?
Signup and view all the answers
Study Notes
Globalization
- Describes the expansion of global trade.
- Considered an economic issue that alters people's lives.
- Globalization is a process of interaction and integration between people, companies, countries, or international organizations.
- It has been sped up by foreign trade and investment with the help of technology and information.
Globalization According to George Ritzer
- Globalization is the fast movement or flow of people, things, information, and products in different directions experienced in different parts of the world.
Globalization According to Aton Kay Macromer Luis
- Globalization is how local products and services became global.
Perennial Institutions
- Considered to be 'old' institutions.
5 Perspectives on the History and Origins of Globalization
First Perspective
- Globalization's roots are in each individual.
- People's desire for a better life drove trade, conquest, and exploration, according to Nayan Chanda.
Second Perspective
- Globalization is a long cycle of changes.
- This perspective is based on Scholte (2005).
Third Perspective
- Globalization has 6 waves or periods.
- This perspective is based on Therborn (2005).
Globalisation and the Fall of the Soviet Union
- The core of globalization is the economy, which revolves around trade in goods and services.
- The way countries exchange goods and services has rapidly changed over the past century.
Transnational Companies
- These companies establish facilities in other countries.
- Their services are often tailored to local needs.
Multinational Companies
- A general term for companies investing abroad.
- Their products and services are not always based on local market demands.
- Examples include Unilever, Procter & Gamble, McDonald's, Coca-Cola, Google, Uber, Starbucks, Seven-Eleven, and Toyota Motor.
Outsourcing
- A company hires another company to perform services for a fee.
- The main purpose is to reduce workload and focus on essential tasks.
- An example is a financial institution outsourcing debt collection from credit card holders. Instead of directly collecting, the institution hires another company.
Types of Outsourcing
- Offshoring: Hiring a company from another country to perform services at a lower cost.
- Nearshoring: Hiring a company from a neighboring country to provide services.
- Onshoring: Engaging a company in the same country to provide services.
Globalisation: Domestic Outsourcing
- Refers to the hiring of services from a local company to reduce operational costs.
Globalisation: Technological and Socio-Cultural Globalization
- Involves the rapid spread of information, culture, and traditions.
- Includes how the interaction between people is affected.
Globalisation: Political Globalization
- Involves rapid relationships and interactions between countries, regional organizations, and international organizations.
Addressing the Challenges of Globalization
Guarded Globalization
- Government intervention in international trade, aiming to promote local businesses and protect them from foreign competition.
- Imposing tariffs or taxes on imported goods.
- Providing subsidies to locally owned businesses.
Fair Trade
- The International Fair Trade Association (IFTA) defines fair trade as the protection of economic, social, and political aspects of small businesses.
Assisting the "Bottom Billion"
- Paul Collier (2007) emphasized the need to address the economic challenges faced by the one billion poorest people in the world, particularly in Asia and Africa.
Panahon (Period)
- 4th-5th Century: Globalization of Religion (Spread of Islam and Christianity)
- Late 15th Century: European Conquest
- Late 18th-early 19th Century: Wars between European countries led to globalization
- Mid-19th Century to 1918: Peak of Western Imperialism
- Post-World War II: The world was divided into two ideological forces: communism and capitalism.
- Post-Cold War: Capitalism prevails as the economic system, allowing for rapid flow of products, services, ideas, technology, etc., led by the United States.
Hawig ng Ikaapat na Pananaw (Similarities to the Fourth View)
- The beginning of globalization can be traced back to specific historical events.
- It's likely that globalization has multiple origins.
- Some of these origins include:
- Roman conquests before the birth of Christ (Gibbon 1998)
- The rise and spread of Christianity after the fall of the Roman Empire
- The spread of Islam in the 7th century
- Viking voyages from Europe to Iceland, Greenland, and North America
- Trade in the Mediterranean during the Middle Ages
- The beginning of banking in Italian city-states in the 12th century
Ang Huling Pananaw (The Final View)
- Globalization is a phenomenon that began in the mid-20th century.
- Three transformations during this period are believed to be directly related to the emergence of globalization:
- The rise of the United States as a global power after World War II.
- The emergence of multinational and transnational corporations (MNCs and TNCs).
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Explore the multifaceted concept of globalization through various definitions and perspectives. This quiz delves into the economic, social, and historical aspects, examining how globalization has transformed local products into global commodities. Engage with insights from notable scholars to enhance your understanding.
