Globalization: Contemporary World PDF

**Globalization** intensification of all interactions (economic, political, social) among the different actors in the international system. **EXISTENCE OF GLOBAL INSTITUTION** \- multilateral entities that perform humanitarian operations such as education and health initiatives on a universal s...

**Globalization** intensification of all interactions (economic, political, social) among the different actors in the international system. **EXISTENCE OF GLOBAL INSTITUTION** \- multilateral entities that perform humanitarian operations such as education and health initiatives on a universal scale. **[Internationalization ]** \- any relationship across borders between nations, or between single institutions situated within different national systems **[McDonaldization]** \- the way in which the principles that fast-food chains use to succeed are applied to the world at large **[Interdependence]** \- two or more countries that impact and rely on each other **PERSPECTIVE ON GLOBALIZATION** **[Hyper Globalist]** \- globalization has fundamentally altered the economic landscape, making the concept of a self-contained national economy obsolete **[Skeptics]** \- doubtful, reject the idea of global governance. \- stuck to Western **[Transformationalist]** \- argues that globalization causes new patterns of interdependent interactions, but the outcomes cannot be predicted with any certainty **MEANS TO ACHIEVE GLOBALIZATION** 1\. Liberalization of Trading Policies 2\. Foreign Direct Investment 3\. Privatization 4\. Presence of Multinational Companies 5\. Contractualization **WORLD ECONOMY IN THE POST WAR ERA** **[Historical Background ]** War between the allied powers of (USA , Britain, France and USSR) and the axis powers (Germany, Italy and Japan) Reason: Political and Economy (World Domination) and Economic (resources) Allied powers won in 1945 Devastation after the war - development problems The need for global cooperation for development Establishment of international institutions due to the intensified relationships among the different members of the community (Globalization) Focus on economic globalization Establishment of the Holy Trinity, for the critiques they inholy trinity **[Bretton Wood Conference ]** 1994 -- bretton woods conference, new Hampshire with 44 delegates Gold standard based on us dollars Adjustable -- peg exchange rate system **Foundation of Global Financial Institution** Created the Intentional Bank or Reconstruction and Development (IBRD) -- now known as the world bank and the international monetary fund (IMF) 1947 -- attempt to create an international trade organization US congress vetoed the ITO. Alternatively, the General Agreement on tarrifs and trade was created. This would later become the world trade organization. **Problems encountered after the Bretton Wood Conference** Cold war 1971- Abandonment of the Gold standard Triffin Dillema -- intentional liquidity US provides more dollars risk in converting dollars into gold Vietnam War, Korean War, US Deficits, Oil crisis **The Washington Consensus** The \"experts\" in washington decided to implement radical policy reforms to address the problems they are experiencing. **Recommendations of Washington Consensus** Macroeconomic stability (controlling inflation and reducing fiscal deficits ) Opening the economy (trade) Regulation domestic product markets (privatization and deregulation) Increased role of international organization - particularly the world bank and the IMF **The Current Global Economy** Dominated by the principles of neoliberalism 1\. Less state intervention 2\. Free market economy 3\. Full integration to the world economy 4\. Removal of trade barriers **THE GLOBAL FINANCIAL INSTITUTION** **[The World Bank]** Five institutions under the world bank (world bank.org) 1\. International bank of reconstruction and development (IBRD) \- loan for middle income and deserving low income countries 2\. International finance corporation (IFC) \- loan for the private sector 3\. International development association (IDA) \- interest free loans (credits) to poorest countries 4\. Multilateral investment guarantee agency (MIGA) \- encourage foreign direct investments 5\. International center for for settlements of investment disputes (ICSID) \- consolation and arbitration of investment disputes **[International monetary fund ]** Functions - Foster global monetary cooperation - Secure financial stability - Facilitate international trade - Promote higher employment - Reduce poverty **International monetary fund:** Membership: 189 countries Managing director: crystalina georgiva (Bulgarian) Headquarters: Washington **[World Trade Organization ]** Formerly the General Agreement on Tariffs and Trade (GATT) Become the wto in 1995 Facilitation of international trade is the main goal of the wto Rules-based system was established Trade negotiations Dispute settlement Implementation and monitoring Building trade capacity Membership: 164 members and 24 observers Director general: Ngozi Okonjo Iweala Headquarters: Geneva Switzerland **Post world war 2** Economic and domestic focus 1970 Dependency theory 1980 Washington consensus Neoliberal ang business and global market integration **CONFIGURATION OF WORLD POWER** **[Bipolarity ]** Two dominant powers in the world USA and USSR emerge as world powers after world war ii Engage in the cold war **[Unipolarity ]** A single world power exist (hegemon) USA became the soul power after the disintegration of USSR **[Multipolarity ]** There are multiple world powers Our situation today can be described as such Unlike before power is measured by economic prosperity **THE INTERNATIONAL LAW** Usually these are refers to treaties and agreements among the different actors Not the same as domestic laws Due to the sovereignty of state actors they are based upon CONSENT No assurance of COMPLIANCE especially from powerful states **TYPES OF INTERACTION AMONG STATES** **[Unilateralism ]** Between two states or more However only one state benefits Example: US military action against Afghanistan in 2001 **[Bilateralism ]** Between two states Both states must benefit Example: Philippine Japanese agreement on economic interaction. **[Multiteralism]** Interaction among multiple states Should be open to everyone All stakeholders involved must benefit Example: The establishment of the united nations. **[Regionalism : An Emerging Trend ]** Refers the establishment of exclusive relations among multiple states Either based on common area or common interest Example: The establishment of the ASEAN UNITED NATIONS Predecessor league of nations (after WW1) in 1920 Established after WW2 in 1945 (san francisco charter in 1945) Headquarters: New York Membership: 193 states Leadership: Antonio Guterres Mandate to end international war and promote social and economic development **MAIN ORGANS OF UN** **[General Assembly ]** Meeting of all member states Recommendatory function only Appointing the secretary general on all recommendation of the security council Electing the non-permanent members of the Security Council Approving the UN budget **[Security Council]** Composed pf 5 permanent members (USA, Russia, France, UK, China) 10 elected members - 2 year term Intervention arm (international security) Legitimate use of force **[International Court Of Justice]** To decide legal disputes among states Recommend sanctions The seat of the court is at the peace palace in the Hague (Netherlands) The court is composed of 15 judges who are elected for terms of office of 9 years by the united nations general assembly and the security council. It is assisted by a registry its administrative organ. It\'s official languages are english and french. **[Secretariat]** Composed of the secretary general (precise the general assembly meeting) and staff Manages the general assembly Record keeper of the sessions The secretariat is organized along departmental lines with each department or office having a distinct area of action and responsibility office and departments coordinate with each other to ensure cohesion in the un\'s program of work. **[Trusteeship council ]** The main goals of the international justice ship system where to promote the advancement of the inhabitants of trust territories and their progressive development towards self government or independence The trusteeship council is made up of the five permanent members of the security council --- China, France and Russian Federation the United Kingdom and the United States. **ASEAN** ESTABLISHMENT AUGUST 8 1967 (Bangkok declaration or asean declaration) Founding members indonesia, malaysia, singapore, thailand, and philippines **ASEAN\'s five main goals are:** 1\. Accelerate economic growth and cultural development through cooperation in trade, investment, and education. 2\. Promote regional peace and stability by resolving conflicts peacefully. 3\. Foster closer cooperation among member states in various sectors. 4\. Enhance ASEAN\'s role internationally on issues like climate change and human rights. 5\. Strengthen the ASEAN community to build a shared identity and promote regional integration. **EU (European Union)** The common principles and values that underly life in the EU: freedom, democracy, equality, and the rule of law promoting peace and stability. European Parliament President:ROBERTA METSOLA European Council President: CHARLES MICHEL European Commission President: URSULA VON DE LEYEN Austria belgium bulgaria croatia republic of cyprus czech republic denmark estonia finland friends germany greece hungary ireland italy latvia lithuania luxembourg malta netherlands poland portugal romania slovakia slovenia **APEC (Asia-Pacific Economic Cooperation)** Director: Dr Rebecca Fatima Santa Maria United in our drive to build a dynamic and harmonious asia pacific community by championing fee and open trade investment. **NATO (North Atlantic Treaty Organization)** Director: Jens Stoltenberg Nato promotes democratic values and enables members to consult and cooperate on defense and security related issues to solve problems, build trust, and in the long run, prevent conflict. **OPEC (Organization of the Petroleum Exporting Countries)** Director: He Ai Ghais To coordinate and unify the petroleum policy of its member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers a steady encounter producers and a fairy turn on capital for those investing in the petroleum industry. *Republic of Iraq, Iran, Kuwait, Saudi Arabia and Venezuela are the Founder Members of the Organization.* **WORLD DIVISION** **[COLD WAR (1945-1989)]** Capitalism, democracy (USA) vs. communism authoritarianism Divisions: first world (NATO), second world (warsaw pact),third world (non-aligned) The East And West dichotomy was created Western countries are considered to be more advanced as compared to Eastern counterparts The West promoting their VALUES as UNIVERSAL; the East trying to adopt this values or trying to resist (to find own identity) Samuel Huntington believe that the conflicts after the Cold War are not IDEOLOGICAL but, CULTURAL Particularly, it will be based on religious beliefs The September 11 attack on the world trade center give this theory more credence. The world is divided by an imaginary line called Brandt Line. Incidentally, most of the countries North of the line are developed ones. Meanwhile those south of this line are developing ones. There is a strong anti-globalization (homogenizing) movement from the Global South. **Global Issues** The climate crisis Marine ecosystem deterioration The hunger crisis and water scarcity The hunger crisis and covid-19 Health issues