REVIEWER IN CONTEMPORARY WORLD - Lesson 1: Globalization

Globalization primarily refers to the integration of the national market to a wider global market signified by increased free trade.

Viewing the process through various lenses that consider multiple theories and perspectives.

Globalism refers to the widespread belief among powerful people that global integration of the economic market is beneficial to everyone, spreading freedom and democracy.

<ol> <li>Ethnoscapes - global movement of people. 2. Mediascapes - flow of culture. 3. Technoscapes - circulation of mechanical goods and softwares. 4. Financescapes - global circulation of money. 5. Ideoscapes - circulation of ideas and ideologies.</li> </ol> Signup and view all the answers

<p>Expansion refers to the creation of new social networks and multiplication of existing connections across traditional boundaries. Intensification refers to the acceleration and stretching of these networks.</p> Signup and view all the answers

<p>Ideoscapes refer to the realm where political ideas move around, such as fake news.</p> Signup and view all the answers

<p>Globalization is a complex phenomenon that occurs in various dimensions, impacting different aspects of societies worldwide.</p> Signup and view all the answers

<p>The Galleon Trade in 1571 marked the first direct connection between the Americas and Asian trade routes, linking Manila in the Philippines to Acapulco in Mexico.</p> Signup and view all the answers

<p>Dennis O. Flynn and Arturo Giraldez suggested that globalization began when all important continents started exchanging products continuously, either directly or indirectly via other continents, with significant economic impacts on trading partners.</p> Signup and view all the answers

<p>The Gold Standard, by limiting the amount of money in circulation, reduced demand and consumption, contributing to the severity and duration of the Great Depression.</p> Signup and view all the answers