Understanding Globalization Concepts

The process of producing goods quickly and in large quantities, often leading to lower costs.

The interconnectedness of economies worldwide through trade, investment, and information flow.

The impact of one economic activity on other sectors, creating a ripple effect.

The expansion of global trade and economic activity, often accompanied by environmental concerns.

The difference in income distribution between individuals or nations on a global scale.

The destruction of coral reefs and marine biodiversity due to pollution and other human activities.

The process of companies seeking the cheapest locations to produce goods.

The belief that free markets and minimal government intervention lead to economic prosperity.

The process of spreading and influencing religious beliefs across geographical boundaries, often through missionary work or cultural exchange.

A period in history marked by wars between European nations, contributing to the growth of national identities and the development of modern nation-states.

The era when European powers colonized and controlled vast territories around the globe, leading to global trade, cultural exchange, and the spread of European influence.

The period following World War II, characterized by the rise of the United States as a superpower and the emergence of international organizations like the UN.

The period after the Cold War, marked by the collapse of the Soviet Union, the globalization of technology, and the rise of new challenges like terrorism.

The conquests by the Roman Empire, expanding its influence and bringing together various cultures and territories, laying the foundation for future globalization.

The military campaigns led by Genghis Khan, connecting continents through trade and cultural exchange, and expanding the Mongol Empire across vast territories.

A policy where a government actively intervenes in foreign trade to promote domestic production by favoring local businesses and restricting imports.

The removal or reduction of barriers to free trade between countries. This involves things like lowering tariffs and quotas, and relaxing trade regulations.

A period of significant change in a population's birth and death rates, where both decline from high levels to low levels. This process can affect population growth and the age structure of a society.

The idea that developing countries can adopt newer, more advanced technologies directly, skipping older versions that developed countries used in the past. This can lead to rapid economic growth and modernization.

A set of principles and practices focused on ensuring fair wages, ethical working conditions, and sustainable practices in international trade.

Large companies that operate in multiple countries, often playing a significant role in globalization by spreading their operations and products globally.

A period of geopolitical tension between the United States and the Soviet Union, characterized by ideological competition and proxy wars.

The emergence of the United States as a dominant global power, influencing international politics and economics, particularly after World War II.

The first stage of Walt Rostow's modernization theory, characterized by traditional societies focused on subsistence farming and limited technology.

The second stage of modernization theory, where innovation and trade emerge, leading to increased individualism and wealth.

The third stage of modernization theory, where technological advancements, population growth, and improved living standards are seen.

A term used to describe countries that were not aligned with either the Soviet Union or the United States during the Cold War. They were often less developed and economically weaker.

A collective term for wealthy, developed countries like the United States, Western Europe, and parts of Asia. This term is often used in contrast to Global South.

A collective term for developing countries in the southern hemisphere, including Latin America, Africa, and parts of Asia.

A term used to describe large, globally connected cities that serve as centers for finance, trade, and innovation.

The difference between rural and urban areas, often influenced by globalization.

The theory that richer nations have negatively impacted poorer countries due to unequal power dynamics in the global economic system.

A country that is less developed and receives an unequal share of global wealth.

A country that is more industrialized and receives the majority of global wealth.

A shift in global agriculture where the South produces non-traditional crops for export, leading to dependence on industrialized food imports from the North.

The situation where a country's consumption is driven by wants rather than needs, often with social support systems to ensure basic necessities.

Global problems, especially in cities, become more complex due to globalization, leading to challenges in local governance.

The displacement of local farmers and replacement of traditional diets in developing countries due to globalized food production.

The interconnected relationship between the wealthy and poor nations, where their economic prospects are intertwined.

A theory suggesting that developed countries were once underdeveloped but not underdeveloped, implying that the path taken by developed countries cannot be replicated by currently underdeveloped nations. The theory emphasizes the unique historical trajectory of each nation.

This approach emphasizes the negative impact of a strong reliance on exporting raw materials on poor countries. It argues that poor countries are subjected to fluctuating prices and a decline in the value of their exports over time, leading to a dependence on wealthy nations.

Corporations in wealthy countries buy cheaply-sourced raw materials from poor nations, process them, and sell them at much higher prices back to those countries. The profits generated from this process largely bypass the poor nations, contributing to their continued economic dependence.

Developing countries often lack the industrial capacity to produce manufactured goods internally, forcing them to import expensive manufactured goods from wealthier nations. This creates a dependency on richer countries and hinders their own economic growth.

Dependency theory criticizes the capitalist market system, arguing it's the primary driver of global inequality. However, it overlooks the role of cultural factors and political regimes in contributing to poverty within underdeveloped countries.

Dependency theory offers limited practical solutions for addressing global poverty. It often promotes unrealistic ideas like seizing all contracts with rich nations or implementing global socialism, which fail to acknowledge the complexities of modern global economies.

Dependency theorists often advocate for poor nations to break free from dependence on wealthy nations by diversifying exports and promoting industrialization through import substitution. This approach aims to create self-sufficient economies.

Dependency theory highlights the unequal power dynamics and economic exploitation that exist between developed and developing countries. This theory underscores the need for structural changes in the global economic system to address persistent poverty and promote sustainable development.