Contemporary World Intro CSB PDF

The world of fading boundaries Prepared by: Ms. Mel Introduction Since globalization is the central topic of Contemporary World, it is vital to have a better understanding of what it is all about. Apart from knowing the some of the definitions provided by scholars, it is equally important to deline...

The world of fading boundaries Prepared by: Ms. Mel Introduction Since globalization is the central topic of Contemporary World, it is vital to have a better understanding of what it is all about. Apart from knowing the some of the definitions provided by scholars, it is equally important to delineate it from other inter-related concepts. Furthermore, it would be best to provide you a glimpse of some of the things that we are going to deal with this term. Globalization versus other related terms Internationalization, Liberalization, Universalization, Westernization, Globalism, and Globality What is Internationalization? “ it involves the growth of transactions and interdependencies between countries” (Martell 2010, 9). “The process whereby nation-states interact with one another economically, politically, socially, and culturally. ” What is Internationalization Also refers to the extension of a nation- state’s economic activities to other nation- states (Istvan Benczes 2014) What is Liberalization? “removal of constraints on movements of resources between countries—an open, borderless world. It involves abolishing regulatory measures such as trade barriers, capital controls and visa requirements, and is linked in part with neoliberalism”(Martell 2010, 9) What is Liberalization “Liberalization, then, is an economic philosophy or a policy which advocates the lifting of trade barriers such as tariffs and quotas imposed on imported products intended to create global market where the prices of commodities are dictated by the invisible hand of global competition and not by state policies adopted by nation-states.” Universalization “[It] involves the dispersion of objects and experiences to all parts of the earth…” (Martell 2010, 9). Universalization is a system of thought where claims to truth, morality, values, and practice by those who are in power are imposed as valid across the world. Westernization “[It] is a particular type of universalization of Western structures such as capitalism, industrialism, rationalism, urbanism, individualism, and democracy, or put more critically, colonization” (Martell 2010, 9-10). In other words, westernization is the imposition of western values to the rest of the world.  What Globalism economic intergration is liberalization is said to be the underlying philosophy behind the prevailing form of economic integration. It is a normative philosophy that tells us the imperatives of globalization. The main objectives or imperatives of globalization are to reduce trade barriers, liberalize investment policies, reduce transport and communication costs, develop skilled manpower, increase global world output, increase international trade, orientate global production, increase international outsourcing and the growing importance of... Six core INTER-Related claims 1. “Globalization is about the liberalization and global integration of markets” (Steger 2005, 16). 2. “Globalization is inevitable and irreversible” (Steger 2005, 18) 3. “Nobody is in charge of globalization” (Steger 2005, 20). Continuation 4. “Globalization benefits everyone” (Steger 2005, 21). 5. “Globalization furthers the spread of democracy in the world (Steger 2005, 22) 6. “Globalization requires a global war on terror” (Steger 2005, 24). What is Globality “If globalism is the philosophy or ideology that seeks to justify the prevailing form of globalization, globality refers to the condition brought about by the process of globalization.” What is Globalization ForAnthony Giddens, “Globalization can […] be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa.” (in Steger 2003, 10; emphasis supplied) What is Globalization Accordingto Fredric Jameson, “The concept of globalization reflects the sense of an immense enlargement of world communication, as well as of the horizon of a world market, both of which seem far more tangible and immediate than in earlier stages of modernity” (in Steger 2003, 10; emphasis supplied). What is Globalization According to David Held , “[g]lobalization may be thought of as a process (or set of processes) which embodies a transformation in the spatial organization of social relations and transactions – assessed in terms of their extensity, intensity, velocity and impact - generating transcontinental or interregional flows and networks of activity, interaction, and the exercise of power.” (David Held in Steger 2003, 10; emphasis supplied). What is Globalization For Roland Robertson “Globalization as a concept refers both to the compression of the world and the intensification of consciousness of the world as a whole.” What is Globalization JamesMittelman offers a similar conception of globalization when he says: “Globalization compresses the time and space aspects of social relations” (in Steger 2003, 10; ). What is Globalization Aar Scholte (in Martell 2010, 10) defines globalization as “supraterritorialization.” emergence of entities or systems that operate beyond traditional territorial boundaries, often exerting significant influence on a global scale. Synthesis of the definitions given “Globalization is a historical process characterized by the compression of the world, enlargement of world communication and world market, intensification of social relations, and intensification of the consciousness of the world. “ What is one of the most notable manifestations of globalization? Trade liberalization An economic policy being applied by different states through which tariffs and non tariff barriers are reduced or eliminated with the goal of attaining freer flow of goods.  Repercussions of trade liberalization Influx of imported goods which may include goods that are also found in the receiving states. Because of their cheaper costs, consumers of the receiving states will patronize imported goods more than the locally produced ones. It becomes a threat to local investors. Other manifestations of globalization Economic Integration Formation of regional blocks The rise of MULTI NATIONAL CORPORATIONS Features of MNCs Huge amount of capital Unparalleled technology Found in different parts of the world With LIMITED LIABILITY (if there is at all) Some implications of globalization RACE TO THE BOTTOM ENVIRONMENTAL DEGRADATION THE WANING POWER OF STATES Thank you God bless!!!