GE 7: The Contemporary World Midterm Coverage PDF

GE 7: THE CONTEMPORARY WORLD MIDTERM COVERAGE Approaches to the Study of Globalization Even after more than two decades of intense scholarly scrutiny, ‘globalization’ has remained a contested and slippery concept. In spite of the...

GE 7: THE CONTEMPORARY WORLD MIDTERM COVERAGE Approaches to the Study of Globalization Even after more than two decades of intense scholarly scrutiny, ‘globalization’ has remained a contested and slippery concept. In spite of the remarkable proliferation of research programs for the study of globalization, there are many different approaches to the study of globalization. Fredric Jameson (1998) astutely points out, there seems to be little utility in forcing such a complex set of social forces as globalization into a single analytic framework. Rosenau (2003) has defined globalization in terms of what he calls ‘fragmegrative dynamics’ to underscore the contradictions, ambiguities, complexities, and uncertainties that have replaced the regularities of prior epochs. Academics often respond to the analytical challenge by trying to take conceptual possession of globalization – as though it were something ‘out there’ to be captured by the ‘correct’ analytical framework. Rosow (2000) has pointed out, many researchers approach globalization as if they were dealing with a process or an object without a meaning of its own prior to its constitution as a conceptual ‘territory’. Globalization as ‘Globaloney’ contend that existing accounts of globalization are incorrect, imprecise, or exaggerated. Rejectionists- Scholars who dismiss the utility of globalization as an analytical concept typically advance. their arguments from within a larger criticism of similarly vague words employed in academic discourse. Sceptics- emphasizes the limited nature of current globalizing processes. Modifiers- critics disputes the novelty of the process, implying that the label ‘globalization’ has often been applied in a historically imprecise manner. Structures of Globalization Globalization as the expansion and intensification of social relations and consciousness across world time and space implies that there are various forms of connectivity. Globalization is a multidimensional phenomenon, creating economic, political, cultural, and even technological forms of connectivity. This section focuses on the economic dimension. Economic Globalization -the expanding interdependence of world economies. It refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders. (IMF, 2008) Economic globalization can be traced from the time when there was economic movement in Asia, Africa, and Europe through the Silk Road, a network of trade routes that connected the East, particularly China, and the West. Four Interconnected Dimensions of Economy 1.Globalization of trade of goods and services 2. Globalization of financial and capital markets 3. Globalization of technology and communication 4. Globalization of production Actors of Economic Globalization NATION- STATE GLOBAL CORPORATIONS INTERNATIONAL MONETARY SYSTEM Whether Economic Globalization Unites or Divides the World UNITES: Benczes (2014) believes that economic globalization fosters universal economic growth and development. Globalization allows a worldwide distribution of income. Economic globalization reduces poverty (World Bank, 2002). Globalization creates mutual dependence between developing and developed countries (Arrighi, 2005) DIVIDES: First, one might observe that the sources of goods and services are exploited. Second, economic globalization does not benefit all nations (World Bank, 2002). Third, Wallerstien (2005) claims that capitalism created the different levels of wages in the economic arena of world systems. Globalization affects all nations and citizens through the increasing integration of economies around the borderless world. Its important players are the nation- states, global corporations, and the international monetary systems. Though some people believe that economic globalization brings unity of all economic movements, others believe that globalization furthers the separation among nation-states around the world. MARKET INTEGRATION Global market integration did not happen overnight. It was the result of the establishment of a global economy that involved the homogenization of trade and commerce. Prior to the trends in globalization of the 20th century, international trade and exchange of goods and services were already practiced. The integration of the global market started when big American corporations began to emerge after the Second World War with the rise of new conglomerates. The rise of American, Japanese, and European global corporations paved the way for the further development of international trade. Iwan (2012) identifies the differences among international, multinational, transnational, and global companies: International Companies- importers and exporters with no investments outside their home countries. Multinational Companies- have investments in other countries, but do not have a coordinated product offering in each country. They are more focused on adapting their products and services to each individual local market. Global Companies- have investments and are present in many countries. They typically market their products and services to each individual local market. Transnational Companies- organizations that have investments in foreign operations, have a central corporate facility but give decision-making, research, and development, and marketing powers to each individual foreign market. Global Corporations Common Attributes An agent of desired economic development An economic prominence A very powerful entity that can create a crisis International financial institutions play an important role in the social and economic development programs of developing and transitional nations. They are instrumental in the functionality of the global economy which is reliant on global corporations. Global Interstate System Weber (1997) describes the state as a compulsory political organization with a centralized government that maintains the legitimate use of force within a certain territory. Nation-state can then be defined as a political community that emanates from civic society to legitimately execute peace. Thus, the civic society is the basis of the people's oneness. EFEFCTS OF GLOBALIZATION TO NATION-STATES 1. Globalization is seen to impose a forced choice upon nation- states. 2. Globalization on nation-states is the establishment of economic and political integrations. 3. Globalization is the establishment of international laws and principles. 4. Globalization is the rise of transnational activism(TNA) 5. Globalization is the creation of new communications network. Association of Southeast Asian Nations(ASEAN) 1) to accelerate economic growth, social progress, and cultural development in the region. 2) promote regional progression. 3) advance peace and sustainability. 4) promote active and beneficial cooperation and mutual assistance on matters of common interest in the economic, technical, cultural, administrative, and scientific fields. 5) help each other in the framework of training and research installations in the educational, professional, technical, and administrative spheres. 6) work hand in hand for more effective and greater use of agriculture and industries. 7) advance Southeast Asian research; and 8) preserve close and beneficial collaboration with current international and regional institutions with similar aims and purposes. EUROPEAN UNION 1) to promote peace, its values. And the well-being of its citizens. 2) offer freedom, security, and justice without internal borders. 3) uphold sustainable development based on balanced economic growth and price stability. 4) combat social exclusion and discrimination. 5) promote scientific and technological progress. 6) enhance economic, social, and territorial cohesion and solidarity among member countries. 7) respect cultural and linguistic diversity; and 8) establish an Economic and monetary union WORLD TRADE ORGANIZATION It is the sole IGO that caters to rules of trade on a global scale. Its objective is to ensure that trade runs as smoothly, predictably, and freely as possible. It also encourages trade by lowering trade barriers that may hinder products and services flow from nation to nation. Internationalism is basically anchored on the opinion that nationalism should be outrun because links that bind people of different countries are more powerful than those that disconnect them (Anora, 2014). LIBERAL INTERNATIONALISM Conceptualized by Immanuel Kant (1975) proposes that nations must give up their freedom and submit to a larger system of laws that is embodied by common international principles. SOCIALIST INTERNATIONALISM Contradicts liberal internationalism. This form of internationalism is based on the view that capitalism is a global system and that the working class must unite as a global class to forward the struggle against capitalism. Globalism emerged as an attitude that seeks to understand all the interconnections of the modern world and to highlight patterns that underlie them. It pursues to describe and explain a world that is characterized by a network of connections that span multi- continental distances. Overall, the global interstate system is a facet of contemporary political globalization that seeks to form collaboration among nation-states through the establishment of intergovernmental organizations. It is rooted on the idea of internationalism. Experts on interstate relations cannot discount the numerous effects of neoliberalism on the rise of new communication networks utilized by governments. Contemporary Global Governance As Bertucci & Alberto (2018) affirm, the sovereignty of nation-states amid globalization has not been diminished for the cooperation and converted action among nation- states represent the greater exercise of their sovereignty. Furthermore, the nation-states remain to be active agents of local and transnational realms of concern. Contemporary global governance defines the political scope of globalization. Cooperation among nation-states is the only way to reform and advance the roles and functions of interstate relationships despite real challenges being faced by United Nations. A World of Regions Global North-are considered at the high-income countries such as America, Australia, New Zealand , Belgium , Japan, and Netherlands. Global South- is referring to less developed countries characterized by low level of economic development, large inequalities in living standards and low life expectancy. These third world countries are Asia, Africa , Latin America and Oceania. The global digital describes global disparities, primarily between developed and developing countries, regarding access to computing and information resources such as the internet and the opportunities derived from such access. Major differences in north and south NORTH: SOUTH: Less Population Large Population High Wealth Low Wealth High Standard of Living Low Standard of living High industrial Low Industrial development development Industry Agriculture CAPITALIST Is an economic system in which a country’s trade, industry, and profits are controlled by private companies, instead of by the people whose time and labor powers those companies. COMMUNIST States in the world are in China, Cuba, Laos, and Vietnam These communist states often do not claim to have achieved socialism or communism in their countries- rather, they claim to be building and working toward the establishment of socialism in their countries. REGION A GROUP OF COUNTRIES located in the same geographical specified area" or are "an amalgamation of two regions or a combination of more than two regions" organized to regulate and "Oversee flows and policy choices." REGIONALIZATION- REGIONAL CONCENTRATION of economic flows and it is the PROCESS OF DIVIDING an area into smaller segments called regions. REGIONALISM- A POLITICAL PROCESS characterized by economic policy cooperation and coordination. THE FOUR WORLD MODEL FIRST WORLD Refers to the so called developed, capitalist, industrial countries roughly, a bloc of countries aligns with the United States after World War II, with more or less common political and economic interests: North America, Western Europe, Japan, and Australia. SECOND WORLD Refers to the former communist-socialist, industrial states (formerly the eastern bloc, the territory and sphere of influence of the union of soviet socialist republic) today: Russia, Eastern Europe (e.g. Poland) and some of the Turk states (e.g. Kazakhstan) as well as China. THIRD WORLD Despite ever evolving definitions, the concept of 3rd world serves to identify countries that suffer from high infant mortality, low economic development, high levels of poverty, low utilization of natural resources, and heavy dependence on industrialized nations. These are the developing and technologically less advanced nations of Asia, Africa, Oceania, and Latin America. FOURTH WORLD The term “Fourth World” first came into use in 1974 with the publication of Shuswap Chief George Manuel's: The fourth world : an Indian reality (amazon link to the book), the term refers to nations (cultural entities, ethnic groups) of indigenous peoples living within or across state boundaries (nation states).