Globalization.pdf

GLOBALIZATION OBJECTIVES Define globalization and articulate its significance in today's interconnected world. Identify and analyze the driving forces behind globalization, including technological advancements, economic policies, political decisions, and cultural exchanges. Distinguis...

GLOBALIZATION OBJECTIVES Define globalization and articulate its significance in today's interconnected world. Identify and analyze the driving forces behind globalization, including technological advancements, economic policies, political decisions, and cultural exchanges. Distinguish and explain the different types of globalization, such as economic, political, cultural, and technological globalization, highlighting their unique characteristics and impacts. Image Snap & Speak  WHAT IS GLOBALIZATION? ·The speedup of ·It promotes and ·Increase of free trade, movements and exchanges increases interactions global economic (of human beings, goods, between different organization, and and services, capital, regions and regional trade blocks. technologies or cultural practices) all over the populations around planet. the globe.  WHAT IS GLOBALIZATION? Globalization is the process by which ideas, knowledge, information, goods and services spread around the world. In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources, including labor markets, to maximize returns and benefit for the common good. Globalization is driven by the convergence of cultural and economic systems. This convergence promotes -- and in some cases necessitates -- increased interaction, integration and interdependence among nations. The more countries and regions of the world become intertwined politically, culturally and economically, the more globalized the world becomes. A BRIEF HISTORY OF GLOBALIZATION Globalization is a complex concept that goes beyond international trade. It is an interconnectedness that spans continents, allowing each country to specialize in what it does best and rely on imports for products and services that would be less efficient to produce within their own borders. In theory, this global system ensures that resources, both natural and manmade, are used to their fullest potential. The term ‘globalization’ has received much attention over the past century, though the concept is much older. Learning how globalization has evolved over the centuries can help leaders forecast the ways in which this interconnectedness could shape the future of business. A BRIEF HISTORY OF GLOBALIZATION  4 Major Periods of Globalization 1st period: 16th Century- Age of Exploration When European Nations began to establish trade routes and colonies in other parts of the world 2nd Period: 19th Century-Industrial Revolution Transportation and Communication Technologies; Steam Engine, telegraph and railroads Rise of CAPITALISM and Modern Economic System 3rd Period: After World War II Establishment of International Organizations; United Nations, World Bank and International Monetary Fund -Multinational Corporations and Growth of Global Trade 4th Period: The Spread of Technology and the Internet -Present CRITICS OF GLOBALIZATION -Income Inequality, Exploitation of Workers and Environmental Degradation CHARACTERISTICS OF GLOBALIZATION There is social mobility of movement of people regardless of reasons There is an intensification of interactions It’s an active process Borderless interaction Spread of ideas, knowledge, technology, culture, religion, etc. MARSHALL MCLUHAN Marshall McLuhan was the first theorist who in 1964 spoke of the idea of the Global Village in his essay “Understanding Media: The Extensions of Man” Through globalization the world has become a borderless world. GLOBAL VILLAGE Media has connected the world in ways that created a global village. MANFRED STEGER Manfred B. Steger (born 1961) is Professor at the University of Hawaii at Manoa. He was also Professor of Global Studies and Director of the Globalism Research Centre at RMIT University in Australia until 2013. Steger's research and teaching spans globalization, ideology, and non-violence.  INTENSIFICATION Expansion, Stretching, and Acceleration of ×Globalization refers to the expansion and intensification of networks. social relations and consciousness across world-time and world place. GLOBALISM × A widespread belief among GLOBALIZATION powerful people that the global integration of EXPANSION economic markets is beneficial for everyone as it Refers to both the spreads freedom and creation of new social democracy across the world. networks and multiplication of existing connections. GLOBALISM ARJUN APPADURAI Globalization ×He proposed 5 dimensions of global cultural flow, namely Ethnoscapes, Technoscapes, Mediascapes, Financescapes, and ideoscapes.  3. TECHNOSCAPE - refers to the circulation of mechanical goods and ETHNOSCAPE - refers software. to global movement of people. 5 DIMENSIONS OF 4. IDEOSCAPE - refers to the realm where political GLOBAL ideas move around. CULTURAL FLOW 2. MEDIASCAPES - refers to the flow of culture. FINANCESCAPES - denotes the global circulation of money ANTHONY MCGREW Globalization ×Described as something that is comprised of multiple sameness and interconnectedness that go beyond nation-states. MICHAEL FREEDEN ×Denotes not an ideology, but a range of processes nesting under one rather unwieldy epithet. ×In part, its conceptual unwieldiness arises from the fact that global flows occur in different physical and mental dimension. CAUSES OF GLOBALIZATION Trade liberalization -refers to the process of reducing or removing barriers to trade between countries, such as tariffs (taxes on imports), quotas (limits on the amount of goods imported), and other restrictions. The goal is to make it easier and cheaper for countries to trade goods and services with each other. Improvements in technology refer to advancements and innovations in tools, machines, and systems that make processes more efficient, effective, or accessible. Reduced cost/improvement of communication and transportation refers to how advances in technology have made it cheaper and easier to connect and move goods and people around the world. Deregulation of financial markets refers to the process of removing or relaxing government rules and restrictions on financial institutions and activities. AS AN IT STUDENT, WHY STUDY GLOBALIZATION?  TYPES OF GLOBALIZATION Three main types of globalization are distinct yet interconnected. The three types of globalization are: Political globalization Economic globalization Cultural globalization  POLITICAL GLOBALIZATION Political globalization is a type of globalization that involves countries’ policies that promote the globalization of governments, economies, and cultures. Political globalization has resulted in what we now know as the worldwide political system, in which certain nations' politics, laws, and governments directly affect other countries.  ECONOMIC GLOBALIZATION Economic globalization defines the internationally connected free markets and trade, as well as the global movement of capital, business, goods, and people. Essentially, this term refers to integrating national economies to create a unified global economy.  CULTURAL GLOBALIZATION Cultural globalization is another form of globalization marked by the spread and merging of individual cultures on a global scale. Cultural globalization is made possible by technological evolution like the Internet, social media, and advances in transportation.  ADVANTAGES OF GLOBALIZATION 1.An open economy spur fast innovation with fresh ideas from abroad 2.Exports jobs often pay more than other jobs 3. Productivity grows more quickly when countries produce goods and services in which they are comparative advantageous DISADVANTAGES OF GLOBALIZATION 1.Exploitation of Underdeveloped countries 2. Widening of Rich-poor Gap 3. Harmful Effects on small Industries and small business  EFFECTS OF GLOBALIZATION Increase in competition Causes exchange of technology Helps in knowledge and information transfer across the globe Increase in investment level and rise opportunities Has led to vast multinational and multicultural management CHECK UP TIME! 1.It refers to the expansion, stretching, and acceleration of networks INTENSIFICATIO N 2. He proposed the 5 dimensions of global cultural flow ARJUN APPADURAI 3. It refers to the flow of culture MEDIASCAPE S 4. Denotes the circulation of money FINANCESCAPES  5. He defined globalization as the expansion and intensification of social relations and consciousness across world-time and world space. MANFRED STEGER A period when European Nations began to establish trade routes and colonies in other parts of the world 1st period: 16th Century- Age of Exploration  A type of globalization that involves countries’ policies that promote the globalization of governments, economies, and cultures. Political globalization has resulted in what we now know as the worldwide political system, in which certain nations' politics, laws, and governments directly affect other countries. Political Globalization  The 4th Period of Globalization The Spread of Technology and the Internet Types of Free Trade Agreement Unilateral Bilateral Multilateral  It refers to the process of reducing or removing barriers to trade between countries, such as tariffs (taxes on imports), quotas (limits on the amount of goods imported), and other restrictions. The goal is to make it easier and cheaper for countries to trade goods and services with each other. Trade Liberalization References: https://www.skuad.io/blog/an-overview-of-the-types-of-globalization https://www.studysmarter.co.uk/explanations/geography/globalisation/ https://comunicacionyhombre.com/en/article/the-global-village- globalization-rethinking-mcluhan-in-the-21st-century-4/ https://www.economicshelp.org/blog/401/trade/what-caused- globalization/ https://youtu.be/i_veshWY00k?si=5m75WG2Fdt8lfrxu https://www.researchgate.net/publication/248966651_Ideologies_of_globali zation/link/5642570d08aec448fa624500/download?_tp=eyJjb250ZXh0Ijp7I nBhZ2UiOiJwdWJsaWNhdGlvbiIsInByZXZpb3VzUGFnZSI6bnVsbH19