Globalization (conte-2.pdf PDF)

1. globalization The process in which people, ideas and goods spread throughout the world 2. First world war 1914 3. IMF International Monetary Fund 4. Steger...

1. globalization The process in which people, ideas and goods spread throughout the world 2. First world war 1914 3. IMF International Monetary Fund 4. Steger According to him, globalization is an expansion and intensification of social relations and consciousness 5. The prehistoric period The earliest phase of globalization 6. The pre-modern period The invention of writing and the wheel. 7. The early modern period Period between the enlightenment and the renaissance. 8. The modern period Innovations in transportation and communication technology, population, explosion and increase in migration 9. The contemporary period The creation, expansion and acceleration of worldwide interdependencies 10. Economic dimension Refers to the extensive development of economic relations across the globe 11. Major sources of economic Property rights growth across countries Regulatory institutions Institutions for macro-economics Stabilization Institutions for social influence Institutions for conflict management 12. Political dimension Refers to enlargement and strengthening of political interrelations across the globe 13. Political issues that surface The principle of state sovereignty in political dimension Increasing impact of various intergovernmental organizations Future shapes of regional and global governance 14. Cultural dimension Refers to the increase in the amount of cultural flows across the globe 15. Cultural interconnections The foundation of contemporary globalization 16. Religious dimension Religion s a personal or institutionalized set of attitudes, beliefs and practices relating to or manifesting faithful devotion to an acknowledge ultimate reality or deity 17. Jihadist globalism A religious response to the materialist assault by the ungodly west in the rest of the world 18. Ideological dimension Ideology is a system of widely shared ideas, beliefs norms and values among a group of people 19. Technology One principal driver of globalization 20. Economic globalization Refers to the increasing interdependence of world economies 21. Marketization A restructuring process 22. Dimensions of economic The globalization of trade goods and services globalization The globalization of financial and capital markets The globalization of technology ang communication The globalization of production 23. International monetary Refers to the system that forms rules and standards for system facilitating trade among nations 24. European monetary Refers to a 30 year old long process that began in the bend of integration 1960 25. European monetary system A 1979 arrangement between several European countries 26. The European financial Permanent fund created by the european stability mechanism 27. International trade The exchange of goods, services and capital across national borders 28. Trade policies Refer to regulations and agreement of foreign countries 29. tariffs Taxes or duties paid 30. Trade barriers Measures that governments or public authorities introduced 31. safety Ensures that imported products in the country are of high quality 32. National trade policy Safeguards the best interest of its trade and citizen 33. Bilateral trade policy To regulate the trade and business relations between two nations 34. International trade policy The best interest of both developed and developing nations are upheld by the policies 35. The world trade Deals with global rules of trade between nations organization CHAPTER 3 36. GLOBAL SOUTH Interconnected histories of colonialism Neo-imperialism Differential economic and social change 37. North Less population High wealth High standard of Living High industrial development industry 38. South High population Low wealth Low standard of living Low industrial development industry 39. Second World Former communist-socialist Russia Eastern Europe Turk states China 40. Third world Africa Asia Latin America 41. Regionalism Decentralization of political powers or competencies 42. Globalization An external phenomenon being pushed in to the region of united states and europe 43. The asia pacific and south Refers together to the regions of east asia, south asia, the asia pacific islands and south asia Japan South korea Singapore Taiwan 44. japan Embarked on procuring raw materials like coal and iron 45. india Opened up and emphasized an export-oriented strategy Textiles and other low wage sectors 46. China World’s largest importer of basic raw materials such as iron and surpassed Japan, the us 47. India and china Become a major source of international migrant labor 48. Asia Has been a source of a wide variety of cultural phenomena CONTEMPORARY GLOBAL GOVERNANCE 49. Global Governance or A product of neo-liberal paradigm shifts in international World Governance political and economic relations A movement towards political integration of transnational actors aimed at negotiating responses to problems 50. International organization Used to refer international intergovernmental organization made up of member-states 51. Powers of international Power of classification organization Power to fix meanings Power to diffuse norms 52. United Nation Tasked to promote international cooperation and to create and maintain international order 53. Four main purpose of the4 Maintaining world peace and security UN charter Developing relations among nations Fostering cooperation between nations Providing a forum for bringing countries together 54. Basic elements of a state Territory People Sovereign power 55. Sovereign power The authority of a state to govern itself 56. Nation-State Divided by physical and economic boundaries, reduced barriers in international commerce and communication are considered their potential threat 57. Globalization’s impact on Poverty the state Environmental pollution Economic crisis Organized crime and terrorism THE GLOBAL INTERSTATE SYSTEM 58. Interstate A system of unequally powerful and competing states in which no single state is capable of imposing control on all others 59. State An independent political communities each of which possesses a government and assert sovereignty 60. Nation Emphasizes organic ties that hold groups of people together and inspire a sense of loyalty and belonging 61. State A legal and political entity Linked to a territory Exist with sovereignty Established consciously United by law 62. Nation A socio cultural entity Linked to a group of people May exist with or without sovereignty Can be created unconsciously  United by bond and shared history 63. Nation-State Refers to modern countries and their political apparatuses rules over a single nation 64. Golden Straitjacket The belief that globalization imposes forced choice upon states either to conform to free market principles or run the risk of being left behind 65. Neoliberalism The intensification of the influence and dominance of capital 66. Economic Sovereignty The power of national governments to make decisions independently 67. Four different concepts of International legal sovereignty sovereignty Westphalian sovereignty Interdependence sovereignty Domestic sovereignty 68. World Bank The international financial institutions that provides loans to countries of the world capital projects 69. International monetary fund Keep track of the global economy and the economies of member countries 70. World trade organization Regulates international trades deals with the rule of trade between nations Ensure the trade will flow smoothly and freely as possible 71. European integration The process of industrial, political, legal economic, social and cultural integration of states wholly or partially European 72. European union International organization comprising 28 european countries 73. Economic integration Can be described as a process and a means by which a group of countries strives to increase their level of welfare An arrangement between different regions the often includes the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies 74. Seven stages of economic Preferential Trading Area integration Free trade area Customs union Common market Economic union Economic and monetary union Complete economic integration 75. Preferential trade areas an agreement on reducing or eliminating tariff barriers on selected goods imported from other members of countries 76. Free trade agreements Eliminate import tariffs as well as import quotas 77. Custom union Removal of tariff barriers between members, together with the acceptance of a common unified external tariff against non- members 78. Common market All barriers to the mobility of people, capital and other resources within the area in question 79. Economic union The trading bloc that has both a common market between members and a common trade policy towards non-members 80. Economic and monetary Involves a single economic market, a common trade policy, a union single currency and a common monetary policy 81. Complete economic The final stage of economic integration integration  THEORIES OF EUROPEAN INTEGRATION 82. Neo functionalism This theory focuses on the supranational institutions of the Eu A theory of regional integration, building on the work of Ernst B. Haas 83. Intergovernmentalism Provides a conceptual explanation for the European integration process 84. Liberal Application of rational institutionalism to the field of European intergovernmentalism integration 85. Multi-level governance Dispersion of authority across multiple levels of political governance 86. Transnational activism The mobilization of collective claims by actors located in more than one country 87. Social movement A type of group action. The organizational structures and strategies that may empower oppressed populations 88. Global justice movement Movement of movements 89. New transnational activism Is as Multifaceted as the internationalism 90. Social media A computer-based technology that facilitates the sharing of ideas and information MARKET INTEGRATION 91. Market integration Occurs when prices among different locations or related goods follow similar patterns over a long period of time 92. Global Market integration Did not happen overnight. It was the result of the establishment of global economy that involved the homogenization of trade and commerce 93. Colonization and Rose as the new ways of putting order to the economic imperialism interrelationships among countries 94. Stock market integration A condition in which stock markets in different countries trend together and depict same expected risk adjusted returns 95. Financial market integration An open market economy between countries facilitated by a common currency and the elimination of technical, regulatory and tax difference 96. Global corporation A business that operates in two or more countries 97. Foreign direct investment A major driver of extended global corporate development 98. BRICS The combined economies of Brazil, Russia, india, china and south africa 99. The general agreement on The first multilateral agreement covering trade in services trade in services called the Uruguay Round 100. General agreement on Deals with trade in goods tariffs and trade Ensure that all signatories are treated equitably Promote progressive liberation of trade