The Contemporary World - Reviewer Midterms PDF

**The Contemporary World** **Global Divides: Global North and Global South** \- Highlighted socio-economic disparities between developed and developing nations. \- Divides are socio-economic and political, not strictly geographical. \- Reflect differences in technological advancement, wealth dis...

**The Contemporary World** **Global Divides: Global North and Global South** \- Highlighted socio-economic disparities between developed and developing nations. \- Divides are socio-economic and political, not strictly geographical. \- Reflect differences in technological advancement, wealth distribution, and governance. \- *Historical colonial practices* contributed to the economic divide between the Global North and South **Willy Brandt** - Brandt Line (Line that divides the world based on economic disparities) \- oversimplifies the complexities of global economic disparities. **Latin America** - Refers to countries in the Americas colonized by Spain. **Treaty of Tordesillas, 1494** - Lands outside Europe were divided between Spain (West) and Portugal (East). **Cold war** \- Rivalry between the United States (Capitalist) and the Soviet Union (Communist) after WWII. No direct military conflict but strong tension between these two superpowers. No direct war, but numerous proxy wars emerged globally. \- Proxy wars and military tension defined the Cold War. **Key Events:** - - - - - **End of the Cold War:** - Political and economic reforms in the USSR (***glasnost and perestroika)*** by [Mikhail Gorbachev.] - **Fall of the Berlin Wall (1989)** - Symbolized ***unity*** and the end of communist dominance in Eastern Europe. ### **First World vs. Second World** - ### **First World -** Industrialized, democratic economies aligned with the US. - ### **Second World -** Industrialized, communist economies under Soviet influence. - ### **Third World** - Non-partisan/non-alignment neither with the US nor USSR ### **Global North and Global South** - **Global North** **-** Industrialized, democratic societies with advanced economies. \- Includes US, Canada, Europe, Japan, South Korea, and Australia. \- Established wealth, Advanced technology, Political stability and Dominance in global trade and politics. - **Global South** \- Developing, agrarian-based economies with socio-political instability. \- Includes Africa, Latin America, the Caribbean, and parts of Asia. \- Predominantly agrarian economies. \- Poverty, conflict, and political instability. \- Limited technological advancement. **Asian Regionalism** \- A political ideology emphasizing a ***specific region*** over a broader area to cope with the challenges of globalization. **Association of Southeast Asian Nations** (ASEAN) is an international organization aims to *promote cultural and economic exchange among member countries* and in *maintaining peace and stability in Southeast Asia*, as well as to *promote regional economic integration and security.* **1997/1998 financial crisis** - Emphasizes the shared weaknesses of the Asian countries. **Flying geese** - similar patterns Regionalism vs Globalism 1\. Trade policies: Regionalism - tailored with regional needs Globalism - Encompasses all goods and services 2\. Historical impact Regionalism - shared historical experiences Globalism - historical contexts is varied and personal to one country, resulting in ignoring its similarities and focusing on economic contributions. 3\. Political Cooperation Regionalism - emphasizing the understanding of regional security and encourage stronger economic ties due to cultural and historical affinities. Globalism - International organizations encourages cooperation with countries outside the region.