Contemporary World PDF

The Contemporary World 3. CULTURAL DIMENSION - This refers to the increase in the amount of cultural flows across the globe. UNIT...

The Contemporary World 3. CULTURAL DIMENSION - This refers to the increase in the amount of cultural flows across the globe. UNIT I: INTRODUCTION TO GLOBALIZATION HYBRIDIZATION- a constructive interaction process between global and local characteristics which is often visible in food, music, dance, film, fashion, and language. Globalization - is the process in which people, ideas and goods spread throughout the world, 4. RELIGIOUS DIMENSION - Religion is a personal or institutionalized set of attitudes, beliefs, and practices spurring more interaction and integration between the world's cultures, governments and economies. - it is about growing worldwide connectivity. Justice is divided in three (3) categories: Globalization - is a process of interaction and integration among the people, companies, and 1. COMMUTATIVE JUSTICE - This aims at fulfilling the terms of contracts and other promises governments of different nations, a process driven by international trade and investment and on both personal and social level. aided by information technology. 2. DISTRIBUTIVE JUSTICE - This ensures a basic equity in how both the burden and the goods - multi-dimensional process involving economic, political, technological, cultural, religious of society are distributed and that ensures that every person enjoys a basically equal moral and ecological dimensions. and legal standing apart from differences in wealth, privilege, talent and achievements 3. SOCIAL JUSTICE - This refers to the creation of the conditions in which the first two categories of justice can be realized and the common good identified and defended. HISTORICAL PERIODS OF GLOBALIZATION 1. The Prehistoric Period (10000 BCE-3500 BCE) - earliest phase/time ng mga hunters and gatherers. 5. IDEOLOGICAL DIMENSIONS - Ideology is a system of widely shared ideas, beliefs, norms 2. The Pre-modern Period (3500 BCE- 1500 CE) - invention ng writing and wheels. and values among a group of people. 3. The Early Modern Period (1500-1750) - the period between enlightenment and renaissance/ universal form of morality and law. 4. The Modern Period (1750-1970) - Innovation of transportation and communication technology. 5. The Contemporary Period (from 1970 to present) - The creation, expansion, and acceleration of worldwide interdependencies 6 DIMENSIONS OF GLOBALIZATION 1. ECONOMIC DIMENSION - This refers to the extensive development of economic relations across the globe as a result of technology and the enormous flow of capital that has stimulated trade i 2. POLITICAL DIMENSION - This refers to an enlargement and strengthening of political interrelations across the globe. UNIT II: THE STRUCTURES OF GLOBALIZATION ECONOMIC GLOBALIZATION - refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies. Two Major Driving Forces for Economic Globalization The European Financial Stability Mechanism (EFSM) - s a permanent fund created by the European Union (EU) to provide emergency assistance to member states within the Union. 1. The rapid growing of information in all types of productive activities 2. MARKETIZATION (A restructuring process that enables state enterprises to operate as market-oriented firms by changing the legal environment in which they operate and can be GOLD STANDARD - is a system of backing a country’s currency with its gold reserves. Such achieved through reduction of state subsidies, organizational restructuring of management currencies are freely convertible into gold at a fixed price, and the country settles all its such as corporatization, decentralization, and privatization. international trade transactions in gold. DIMENSIONS OF ECONOMIC GLOBALIZATION INTERNATIONAL TRADE - is the exchange of goods, services and capital across national borders. It is a multi-million-dollar activity, central to the Gross Domestic Product (GDP) of 1. The globalization of trade of goods and services many countries, and it is the only way for many people in many countries to acquire 2. The globalization of financial and capital markets resources. 3. The globalization of technology and communication TRADE POLICIES - on the other hand refer to the regulations and agreement of foreign 4. The globalization of production countries. TARIFFS - These are taxes or duties paid for a particular class of imports or exports. Imposing DIFFERENCE BETWEEN ECONOMIC GLOBALIZATION FROM INTERNATIONALIZATION taxes on imported and exported goods is a right of every country. Economic globalization is a functional integration between internationally dispersed activities which means that it is a qualitative transformation rather than a quantitative TRADE BARRIERS - These are measures that governments or public authorities introduce to change while internationalization is an extension of economic activities between make imported goods or services less competitive than locally produced goods and services. internationally dispersed activities. SAFETY - This ensures that imported products in the country are of high quality. Inspection INTERNATIONALIZATION is an extension of economic activities between internationally regulations laid down by public officials ensure the safety and quality standards of imported dispersed activities. products. ORIGIN OF ECONOMIC GLOBALIZATION 3 TYPES OF TRADE POLICIES 16th Century - Long distance trade NATIONAL TRADE POLICY - This safeguards the best interest of its trade and citizen. 17th And 18th Century - lobal economy exists only in trade and exchange rather than BILATERAL TRADE POLICY - To regulate the trade and business relations between two production as the world export to World GDP did not reach 1 to 2 percent. nations, this 19th Century - Golden Age of Globalization/ modern form being witnessed. MULTILATERAL TRADE POLICY - this policy is an agreement between multiple countries to reduce trade barriers and promote international commerce. INTERNATIONAL TRADE POLICY - This defines the international trade policy under their INTERNATIONAL MONETARY SYSTEMS AND GOLD STANDARD charter like the International economic organizations, such as Organization for Economic Co- International monetary system (IMS) - refers to a system that forms rules and standards for operation and Development (OECD), World Trade Organization (WTO) and International facilitating international trade among the nations. Monetary Fund (IMF). The European Monetary System (EMS) - on the other hand is a 1979 arrangement between WORLD TRADE ORGANIZATION (WTO) - It deals with the global rules of trade between several European countries which links their currencies in an attempt to stabilize the nations with the main function of ensuring that trade flows smoothly, predictably and freely. exchange rate. OUTSOURCING - is an activity that requires search for a partner and relation-specific investments. UNIT III: THE GLOBAL INTERSTATE SYSTEM Max Weber - a German social theorist define state as a compulsory political organization with a centralized government that maintains a monopoly of the legitimate use of force within a certain territory. UNIT II: Market Integration Hedley Bull - a 20th century international philosopher stated that states are independent political communities. MARKET INTEGRATION - describes the simplicity with which two or more markets can transact with one another. The Golden Straitjacket - the belief that globalization imposes a forced choice upon states either to conform to free market principles or run the risk of being left behind. It was coined - it happens when pricing for similar products or goods from various regions follow similar by Thomas Friedman, a journalist and advocate for neoliberalism, to describe the pressure on patterns over an extended period of time. states to adopt policies that suit the interests of investment houses and corporate - occurs when influences are applied that cause comparable adjustments or movements in executives. The term is from Friedman's book "The Lexus and the Olive Tree" (1999). other markets. Neoliberalism - the process of increasing the power and influence of capitalism over society, TYPES OR RELATED MARKETS WHERE MARKET INTEGRATION OCCURS making it not just an economic system but also a guiding principle and a way of life. 1. Stock Market Integration - International stock market shows similar trends and predicted Economic Sovereignty - refers to the ability of a national government to make decisions risk adjusted returns. about its economy without being influenced by other governments. 2. Financial Market Integration - an international open market economy made possible by the Four Different Concepts of Sovereignty: removal of technical, legal and the tax differences as well as the use of single currency. THE GLOBAL INTERSTATE SYSTEM - refers to the acceptance of a given state as a member of HISTORICAL GLOBALIZATION - study of globalization the roots the concern in historical trade the international community. and exchange pattern. WESTPHALIAN SOVEREIGNTY - It is based on the principle that one sovereign state should THE INANCE FUNCTION OF A GLOBAL CORPORATION not interfere in the domestic arrangements of another. Financing INTERDEPENDENCE SOVEREIGNTY - It is the capacity and willingness to control flows of Risk Management people, goods and capital into and out of the country. Capital Budgeting DOMESTIC SOVEREIGNTY - It is the capacity of a state to choose and implement policies within the territory. The ability of a state to make decisions and implement policies within its FOREIGN DIRECT INVESTMENT (FDI) - an ownership share contributed by a foreign investor, own territory, without external interference or constraint. business, or government to a foreign initiative or firm. Usually involves not only a financial investment but also the supply of technology or management. Economic and Political Integration (European Integration) BRICS ECONOMIES - BRAZIL, RUSSIA, INDIA, CHINA, SOUTH AFRICA EUROPEAN INTEGRATION - is the process of industrial, political, legal, economic, social and cultural integration of states wholly or partially in Europe. GENERAL AGREEMENT ON TRADE AND SERVICES (GATS) - the initial multilateral agreement pertaining to services trade. Establishes a set of guidelines for the exchange of services; a EUROPEAN UNION(EU) - is an international organization comprising 28 European countries process by which nations might pledge to liberalize trade in services and offers a process for and governing common economic, social, and security policies. settling international conflicts. ECONOMIC INTEGRATION - can be described as a process and a means by which a group of New Institutionalism - This theory emphasized the importance of institutions in the process countries strives to increase their level of welfare. of European integration. Its three key strands are: rational choice, sociological and historical. HOW BEHAVIORS OF PEOPLE PROGRESS WITH LAWA OR REGULATIONS. Seven Stages of Economic Integration: Multi-level Governance (MLG) - a system of continuous negotiation among nested Preferential Trade Areas (PTAs) - happens when there’ s an agreement on reducing or governments at several territorial tiers. eliminating tariff (tax or duty to be paid on a particular class of imports or exports) barriers on selected goods imported from other members of countries within the geographical region Transnational Activism - people or groups from different countries come together to push or areas. for changes or make demands that involve multiple countries or international organizations. Free Trade Agreements (FTAs) - It entails the partial or complete elimination of trade tariffs Social movement - It refers to the organizational structures and strategies that may empower on goods and services between member countries. oppressed populations to mount effective challenges and resist the more powerful and advantaged elites. Custom Union - It establishes common external trade tariffs on imports from non-member nations, making external production factors easier to track and tax within the region. Global Justice Movement - It describes the loose collection of individuals and groups often referred to as a “movement of movements". Common Market - It involves the coordination of monetary, fiscal, and taxation policies and government expenditure to promote the free flow of commodities, services, and production Social movement - It refers to the organizational structures and strategies that may empower inputs. oppressed populations to mount effective challenges and resist the more powerful and advantaged elites. Economic Union - it is one major step towards economic integration. Capitalism - it is often thought of as an economic system in which private actors own and Economic and Monetary Union - involves a single economic market, a common trade policy, a control property in accord with their interests. single currency and a common monetary policy. It represents a major step in the integration of EU economies. The New Transnational Activism - a broad-ranging study that follows the paths of transnational activists through a variety of processes between the local and the global. Complete Economic Integration - the final stage of economic integration in which member states completely forego independence of both monetary and fiscal policies. Social media - is a computer-based technology that facilitates the sharing of ideas and information and the building of virtual networks and communities. Political Integration - refers to the integration of components within political systems; the integration of political systems with economic, social, and other human systems; and the political processes by which social, economic, and political systems become integrated. UNIT III: CONTEMPORARY GLOBAL GOVERNANCE Theories of European Integration GLOBAL Neo- Functionalism Developer: Ernst B. Haas - This theory focuses on the supranational institutions of the EU. A theory of regional integration which downplays globalization and GOVERNANCE reintroduces territory into its governance. OVER TIME INTEGRATION BETWEEN COUNTRUES. Intergovernmentalism - is emphasizing on the role of national states in the European Global governance or World governance - It is a product of neo- liberal paradigm shifts in integration: in another words it argues that "European integration is driven by the interest international political and economic relations. A tool to identify solutions to problems and actions of nation states". THEY DISCUSS TOGETHER BUT MOVE INDIVIDUALLY. created by neo-liberal globalization. Viewed as the sum of governance processes operating Liberal Intergovernmentalism Developer: Andrew Moravsik - This theory says that countries in the absence of world government. work together by negotiating deals based on their own interests while keeping control over THE TWO TYPES OF INTERNATIONAL ORGANIZATIONS: their priorities. Universal Membership Limited Membership ideologies, but can also reflect a doctrine, belief system, or movement in itself. UNITED NATIONS - It is the largest, most familiar, most internationally represented and most Regionalization - refers to the spatial organization and ordering of activities within distinct powerful intergovernmental organization in the world. areas, which involves cooperation, integration, and the redefinition of territorial and political spaces. FOUR MAIN PURPOSES OF THE UN CHARACTER Globalization - describes the growing interdependence of the world's economies, cultures, 1.Maintaining Worldwide Peace and Security and populations, brought about by cross-border trade in goods and services, technology, and 2.Developing relations among nations flows of investment, people, and information. 3. Fostering cooperation between nations in order to solve economic, social, cultural, or Cultural Exchange - increase interaction fosters cultural ties and mutual understanding. humanitarian international problems. Cultural Homogenization - the spread of dominant culture may overshadow local traditions 4. Providing a forum for bringing countries together to meet the UN's purposes and goals. and identities. FIVE STAGES OR MAIN GAPS MEET BY UN IN THE 21 ST CENTURY: 1. knowledge UNIT V: ASIAN REGIONALISM 2. norms 3. policy Regions - group of countries located in the same geographical areas. 4. institutions Asia - a region and the largest and most diverse continent in the world. 5. compliance Regionalism - a political ideology that favors a specific region over a greater area. Global governance can be understood as the sum of laws, norms, policies, and institutions which allows interconnectivity across different borders and sovereign territories. POLITICAL SEPERATION BASIC ELEMENTS OF A STATE Legislative Executive Territory Judicial People Sovereign Regionalization - a process of dividing an area into smaller segments called regions. The divisions of states or provinces. Regional Integration - a process in which neighboring states enter into an agreement in order UNIT IV: GLOBAL DIVIDES (THE NORTH AND THE SOUTH) to upgrade cooperation. Global South refers to the regions of Latin America, Asia, Africa, and Oceania mostly low- Intra-Regional Trade - refers to trade which focuses on economic exhange primarily between income and often politically or culturally marginalized. It may also be called the "developing countries of the same region or economic zone. World". It refers to economically disadvantaged nation-states and as a post-cold war alternative to “Third World”. CAPITALISM - an economic and political system in which a country's trade and industry are controlled by private owners for profit. A rare "epochal shift" in how global capitalism operates. Internationalism is a political principle that advocates greater political or economic cooperation among states and nations. It is associated with other political movements and