CONWOR Review PDF

leading to a global social condition. CONWOR DIMENSIONS OF GLOBALIZATION PAROCHIALISM...

leading to a global social condition. CONWOR DIMENSIONS OF GLOBALIZATION PAROCHIALISM 1. Economic: Changes in economic Parochialism occurs when production methods. management is sent to a new country 2. Political: Political arrangements that extend beyond nation-states. to oversee the firm, bringing their 3. Cultural: Expansion of cultural preconceptions and assumptions about flows globally. the new culture. Managers who have a 4. Ecological: Impact of global tendency towards narrow-mindedness alliances on ecological issues. are putting their companies at risk. GLOBALIZATION Key Concepts: Globalization is a multifaceted Globalization: A process of integration. process that integrates national markets into a global market. Globality: Perspectives on globalization vary: A future state characterized by interconnectedness that Some view it positively, diminishes the relevance of emphasizing free trade and borders. economic growth. Simplification of Globalization Others highlight its negative impacts, including cultural Globalism: An ideology reflecting shared imperialism and social issues. norms and values. Types of Globalism Definition by Manfred Steger 1. Market Globalism: Advocates for a neoliberal, consumerist world. Globalization: Expansion and 2. Justice Globalism: Focuses on intensification of social relations and equity and social justice. consciousness worldwide. 3. Religious Globalism: Examines the Expansion: Creation of social influence of religious ideologies on networks (e.g., social media, global processes. NGOs) that transcend traditional Market Globalism boundaries. Intensification: Acceleration and Key Features: stretching of these networks,  communities (e.g., Islam, Free Trade: Advocates for the Christianity). elimination of trade barriers. Discusses conflicts between secular Deregulation: Supports reducing policies and religious beliefs in government regulations on diverse societies. markets. Privatization: Emphasizes privatizing state-owned GLOBALIZATION OF WORLD enterprises for efficiency. ECONOMIES Financial Market Liberalization: Encourages opening financial Definition of Economic Globalization: markets to foreign investors. Economic Growth: Promotes Increasing interdependence of competition, innovation, and world economies. access to global resources. Result of: Justice Globalism 1. Growing scale of cross-border trade of commodities and services. Core Principles: Social Justice and Equity: 2. Flow of international capital. Advocates for wealth 3. Rapid spread of technologies. redistribution to address global inequalities. Environmental Sustainability: TRADE SYSTEM Focuses on sustainable development and ecological Framework regulating exchange of health. goods and services. Human Rights and Labor Standards: Supports the protection Involves: of human rights and labor rights 1. Rules, agreements, and institutions globally. governing trade activities. Democratic Governance: Calls for accountability in global governance and challenges Aspects of International Trade and corporate dominance. Economic Globalization: Religious Globalism INTERNATIONAL TRADE Examines the interaction of religious movements with global Focuses on exchange of goods and processes. services between countries. Highlights the establishment of Economic Globalization: transnational religious  Involves interconnectedness and Galleon Trade (1571): interdependence of global First connection between Asia economies. (Philippines) and Americas Scope includes: (Acapulco, Mexico). 1. Trade. 3. The Gold Standard 2. Capital flows. Adopted by the US, UK, and other european nations in 1865 3. Labor movement. is a monetary system in which the 4. Technology transfer. value of a country's currency is directly linked to gold INTERNATIONAL TRADING SYSTEM Types of Economies Associated with Definition: Process where goods, Economic Globalization: commodities, and services cross national boundaries in exchange for money or PROTECTIONISM goods. Systematic government Historical Context: intervention in foreign trade. 1. Silk Road: Aims to encourage domestic production. Ancient trade network from China Involves restricting imports and to the Middle East and Europe. foreign competition. Operated from 130 BCE until 1453 BCE. Protectionism Measures: Not global as it did not reach the Tariffs: Americas. Taxes on imported goods, 2. Age of Mercantilism (16th to 18th increasing their prices. Century): Quotas: European countries competed for colonial benefits. Limits on the quantity of specific Objective: Sell more goods to boost goods that can be imported. national economies. Globalization began with Subsidies: continuous product exchange Financial support to domestic among populated continents. industries to lower production costs.  4. Fiat Money Additional Protectionism Measures: Import Licenses: Permission required for businesses to import KEYNESIAN theory certain goods. Regulations and Standards: Strict product standards imposed on foreign goods, creating barriers to NEOLIBERALISM entry. ACTORS OF GLOBALIZATION TRADE LIBERALIZATION: refers to various entities and group that actively participate in and Removal or reduction of influence the process of restrictions on the free exchange globalization of goods. Barriers include: 1. INTERNATIONAL 1. Tariffs (duties and surcharges). GOVERNMENTAL 2. Non Tariff barriers (licensing rules and ORGANIZATION quotas). - it refers to an entity created by treaty, involving two or more nations to work on issues of common interest. TRADE EMBARGO Example: - A trade embargo is a government-imposed restriction UNITED NATIONS on the trading of certain products, goods or services. It restricts people and companies from buying 2. INTERNATIONAL and selling with the affected NON-GOVERNMENTAL country or entity, potentially ORGANIZATION (NGO) interrupting international - works towards solutions commerce between two entities. that can benefit undeveloped countries that face backlash of economic TYPES OF CURRENCY globalization. - Non-profit, voluntary 1. Representative Currency citizens group which is 2. Floating Currency organized on a local, 3. Fixed Exchange Rate/Pegged national, or international Currency level.  0PERATION - MNCs typically consist of a parent company headquartered in one Backlash of Economic Globalization country with subsidiaries and - refers to the negative reactions or branches. resistance to the increased global integration of economies. TYPE OF MULTINATIONAL CORPORATION CORPORATION 1. Decentralized A type of business owned by - maintains a presence in its shareholders and overseen by an home country and has elected board of directors. autonomous offices and The law treats them like a single other facilities globally. person. Can do things like buy a Each office manages the car, sign a deal with a supplier, or local business itself. borrow money. Transnational Corporation - parent-subsidiary structure in 3. MULTINATIONAL which the parent company CORPORATION oversees the operations of - Corporation that have subsidiaries in foreign countries overseas branches and home countries. - Has a business operation in at least two countries, often with headquarters in one 2. Centralized country and subsidiaries, - The central headquarters is manufacturing plants, and located in the home offices in other nations. country. Executive officers (Investopedia) and management manage the overseas offices and Automation operations, as well as - Refers to the technology and domestic operations. processes used to perform tasks or operations with minimal human intervention. GAPS OF GLOBAL d. Institutional Gaps - If it is not housed GOVERNANCE within an According to Thomas Weiss and institution with the Ramesh Thakur, governance gaps necessary resources can be divided into five and autonomy subcategories: a. Knowledge Gaps - Refers to the lack of e. Compliance Gaps empirical - The political will to information or implement an theoretical agreement or explanations about provide resources the nature causes for establishing gravity and institutions may be magnitude of a absent problem that could inform policy making. Arjun Appadurai's Scapes Globalization occurs across multiple dimensions or "scapes": b. Normative Gaps - Are common and 1. Ethnoscape: Movement of people. result in disputed 2. Mediascape: Flow of culture. knowledge that may 3. Technoscape: Circulation of steamy consensus technology and software. about universally 4. Financescape: Movement of accepted norms capital. 5. Ideoscape: Flow of political ideas. c. Policy Gaps - On an emerging issue can lead to inaction and pave the way for a crisis.