Globalization Midterm Reviewer PDF

**Globalization** - - - Competing Definitions of Globalization 1. 2. 3. 4. **Globalization: Process, Condition, and Ideology** **Globalization as a Process** - - **Globalization as a Condition** - - - - **Globalization as an Ideology** - - **1. World Sys...

**Globalization** - - - Competing Definitions of Globalization 1. 2. 3. 4. **Globalization: Process, Condition, and Ideology** **Globalization as a Process** - - **Globalization as a Condition** - - - - **Globalization as an Ideology** - - **1. World Systems Paradigm (Immanuel Wallerstein)** - - - - - - **2. Global Capitalism Paradigm** - - - - - - **3. Network Society School of Thought (Manuel Castells)** - - - - - - **4. Space, Time, and Globalization (Anthony Giddens & Saskia Sassen)** - - - - - - - - - **5. Transnationality and Transnationalism** - - - **6. Global Culture Paradigm** - - - **Globalization as Internationalization**: The common confusion between these two terms lies in treating globalization as synonymous with cross-border activities. While internationalization refers to interactions across national borders involving states, corporations, or individuals, globalization transcends borders entirely, including cultural and social exchanges, like interactions on social media platforms such as Facebook, where no state boundaries are necessary. **Globalization as Liberalization**: This misconception aligns globalization with the removal of barriers to create an open global economy, as seen in the liberalization of trade policies in countries like the Philippines. Scholte critiques this view, arguing that equating globalization with neoliberal economic policies is limited and overlooks other dimensions, such as social and political globalization. **Globalization as Universalization or Westernization**: This view sees globalization as the spread of Western or modern values and practices globally, leading to homogenization. Scholte points out that universalization is not new, with historical examples like the spread of religions and cultural influences. However, the modern version often refers to Western or American cultural dominance, which can overshadow local cultures, a process sometimes called \"McDonaldization.\" **1. Globalization as Interdependence** - - - - - - **2. Globalization as Internationalization** - - - - - **3. Globalization as Liberalization** - - - - - **4. Globalization as Universalization** - - - - - **Global Economy**: - - - **Division of Labor and Specialization**: - - - **Why Countries Trade**: - - - **Benefits of Trade**: - - **Absolute Advantage** - - - - **Comparative Advantage** - - - - **Free Trade** - - - - **Protectionism** - - - - **Market Integration** - - **Post-World War II Economic System & Bretton Woods Institutions** **1. Bretton Woods Conference (July 1944)** - - - - - - **2. Purpose of Bretton Woods Institutions** - **3. International Monetary Fund (IMF)** - - - - - **4. World Bank (IBRD)** - - - - **5. General Agreement on Tariffs and Trade (GATT)** - - - **6. Other Economic Organizations** - - - **7. North American Free Trade Agreement (NAFTA)** - - - - - **8. International Monetary System** - - - **History of Market Integration: From Unilateral to Multilateral Trade Order** **1. Mercantilist Period (17th-18th Centuries)** - - - **2. Industrialization (19th Century)** - - - **3. Impact of World War I** - - - **4. Post-World War II Trade Regime** - - - - **5. World Trade Organization (WTO)** - - - **Shift from Keynesianism to Neoliberalism** - - - - - - - - **Global Interstate** - - **Global Governance** - - In summary, globalization connects us all, market integration makes trade easier, global interstate describes how countries interact, and global governance helps us work together on big challenges. Understanding these concepts helps us see how our world operates and the importance of cooperation among nations. **Liberal internationalists** advocate for a system of global governance that is based on the rule of law, with democratic participation and respect for human rights at its core. In contrast, socialist internationalism emphasizes the importance of economic equality and social justice. **International agreements** are formal understandings or commitments between two or more countries. An agreement between two countries is called "bilateral," while an agreement between several countries is "multilateral." The countries bound by an international agreement are generally referred to as "States Parties." **Horizontal** -- a merger between companies with similar products. **Vertical** -- a merger that consolidates the supply line of a product. **Concentric** -- a merger between companies that have similar audiences with different products. **Conglomerate** -- a merger between companies that offer diverse products/services. **Liberal Internationalism vs. Socialist Internationalism** - - **International Agreements** - - - - Types of Mergers - - - - **The Bretton Woods System** - - - **Economic Dynamics** - - - - - - **Challenges Faced** - - **Interventions and Changes** - - - - **Collapse of the System** - - - **Understanding Key Organizations and Economic Systems** - - - - - - - - - - - - - - - - **United Nations (UN) Reviewer** **Overview:** - - - - **Principal Organs of the UN (Established 1945):** 1. - - - - 2. - - 3. - - - - 4. - 5. - 6. - **Additional Info:** - **Security Council (SC) Reviewer** **Overview:** - - **Permanent Members (P-5):** 1. 2. 3. 4. 5. - **Non-Permanent Members (NPM):** - - - - - - **Mandate and Functions:** - - - - - **Responsibility to Protect (R2P):** - - - **Veto Power:** - - **Challenges to Action:** - - - **Instruments for Peacekeeping:** 1. - - 2. - - - - - **Concerns and Current State:** - - **UN General Assembly (GA) Overview** - - - - - - **Functions of the General Assembly** - - - **Relationship with Other UN Organs** - - - - - **Reforming the United Nations** - - - - - - - - - **Alternative Solutions** - - **Formation of an Asian Interstate System** - - - - - - - - - - - - - **Association of Southeast Asian Nations (ASEAN)** - - - - - - - - - - - - - - **Understanding International Trade Agreements and Their Importance** **International trade agreements** are important because they help countries work together to make trade easier and fairer. Here's a detailed breakdown of some key concepts and events related to international trade negotiations. **Bretton Woods System** - - - **IMF/WB** - - - **The Uruguay Round** - - - **The Geneva Round** - - - **The Tokyo Round** - - **The Kennedy Round** - - - **Capitalism** - - - - **Communism** - - - - **Socialism** - - - - **Marxism** - - - - The **Kyoto Protocol** is an important agreement that countries made to help protect our planet. Here's a detailed explanation of what it is and why it matters: - - - - - 1. 2. 3. 4. 5. 6. - - - - - - - - In summary, the Kyoto Protocol is a significant agreement aimed at fighting global warming by reducing harmful greenhouse gases. By working together, countries can help create a healthier planet for everyone.