Globalization SOC-101-PRELIM-REVIEWER PDF

GLOBALIZATION ⚫ Is the process of interaction and integration among people, companies, and governments worldwide. ⚫ the study of multifaceted phenomenon using the various disciplines of social sciences. ⚫ Studying globalization help our country compete with the different countries acr...

GLOBALIZATION ⚫ Is the process of interaction and integration among people, companies, and governments worldwide. ⚫ the study of multifaceted phenomenon using the various disciplines of social sciences. ⚫ Studying globalization help our country compete with the different countries across the globe. Perspective of Globalization ⚫ Pro-Globalization: Supports the removal of trade barriers and increased international economic integration. ⚫ Anti-Globalization: Opposes the removal of trade barriers and increased international economic integration, often due to concerns about job losses and negative environmental impacts. ⚫ Approve-Globalization: This phrasing is not commonly used. It's more likely someone would simply "approve" of globalization ⚫ Liberal-Globalization: While "liberal" can be associated with free trade, "Liberal-Globalization" isn't a standard term. It's more likely proponents would identify as simply "pro-globalization." CHARACTERISTICS OF GLOBALIZATION ⚫ Expansion of social relations ⚫ Integration of economic systems ⚫ Interaction among people of different nations Priority of Globalization Employment - considered as one of the most crucial advantages of globalization that leads to the generation of numerous jobs offers. Communication - to link with other country needs Education - people is the man oiwer Transportation - make far away land connected to the main cities 3 Components of globalization 1. Cultural/Social globalization Social globalization - focuses on the interconnectedness of societies and cultures. Cultural globalization - emphasizes the spread of ideas, values, and customs across borders. basta kapag nabanggit yung culture or religion, cultural globalization sya 2. Political globalization - refers to the increasing interdependence of governments and the creation of international institutions like the UN. or anything na government related decisions (like yung sa vaccine sa covid) 3. Economical globalization - pertains to the integration of economies worldwide through trade and financial flows. ECONOMIC GLOBALIZATION INSTITUTION 1. International Monetary Fund (IMF) the primary institution responsible for overseeing the international monetary system. - able to lend to its member countries with an ending capacity estimated to be around $1 trillion. - It was established on July 22, 1944. Functions of IMF 1. Promoting international monetary cooperation 2. Providing financial assistance to countries in need 3. Offering policy advice on economic matters IMF Address the following 1. Global trade disputes 2. Health pandemics  3. Military defense alliances 2. World Bank(WB) - a global financial institution that provides loans, grants, and technical assistance to developing countries. Its priority mission is to end extreme poverty and boost shared prosperity in a sustainable way. to help the poor 3. World Trade Organization - deals with the rules of trade between nations. Its main function is to ensure that trade flows as smoothly as possible. - Ngozi Okonjo-Iweala - the seventh Director-General of the WTO - administers global trade rules and facilitates trade agreements. - Established January 1, 1995. Functions of WTO 1. Promote education and science 2. Set global trade standards 3. Foster cross-cultural understanding Detraditionalization refers to the decline or weakening of traditional practices, beliefs, and values in a society. It often occurs due to factors such as globalization, urbanization, and technological advancements. Other Agencies for Globalization ⚫ The founding of the European Union was primarily motivated by economic concerns. United Nations (UN) - peace and security Established on October 24, 1994, after the effects of word ward II possible na October 24, 1995 din since after WWII Antonio Guterres - Present Secretary-General of the United Nations New York Cit y, USA- Main headquearterts of UN WWorld Health Organization (WHO) - ensuring global public health WHO Primary function is to: - Setting international health standards - Conducting research - Responding to health emergencies UNESCO (United Nations Educational, Scientific and Cultural Organization) Responsible for promoting international collaboration in education, science, culture, and communication. UNICEF (United Nations Children's Fund) Primarily focuses on promoting children's rights and well-being globally. NATO (North Atlantic Treaty Organization) NATO is a military alliance focused on ensuring the security and defense of its member states through collective defense. G7 (Group of Seven) is an informal forum of major industrialized democracies that discuss global economic issues. parang blog type yata 'to?? sabi ni sir ASEAN (Association of Southeast Asian Nations) Promote economic and cultural exchange among its member countries, maintain peace and stability in Southeast Asia, and establish relationships with foreign powers with similar aims. ASEAN consists of 10 member states in Southeast Asia Foreign direct investment (FDI) occurs when a company in one country establishes a business in another country for the purpose of production or management. same daw 'to dun sa POGO since bawal yung sugal sa China - Investment where a company establishes a business in another country for production and manages that business. Business Sector Of Globalization Global Economy: This term itself refers to the interconnectedness of national economies across the world. It encompasses the entire system of trade, investment, and financial flows that integrate countries. - focuses on the process of making the world economy an integral element of a whole and elaborates on the important players of economic globalization China is often cited as a major example of a global economic powerhouse due to its rapid industrialization and significant role in manufacturing and trade. It has become a major exporter of goods worldwide, contributing substantially to the global economy. Multinational corporation (MNC): This refers to a company that operates in more than one country. Example McDonald's has a vast network of restaurants across the globe. Market Integration: This term directly addresses the merging of national markets into a single global market. - The process by which separate markets in different geographic locations become interconnected, interdependent, and more unified. - covers the position of international financial institutions. Bencrzes (2014) identified four interconnected dimensions of economy, which are: 1. Globalization of trade of goods and services: This refers to the increasing flow of goods and services across national borders. 2. Globalization of technology and communication: This refers to the rapid spread of technology and communication systems around the world. 3. Globalization of production: This refers to the increasing fragmentation of the production process across different countries. 4. Globalization of financial markets: This refers to the increasing integration of financial markets around the world. Facts about globalization ⚫ The Global North is often associated with developed, industrialized countries, including the G8 nations. ⚫ The terms Global South and Third World are similar, referring to developing countries facing economic challenges. ⚫ The Global North/South divide is a helpful concept but has limitations, not fully capturing all complexities. ⚫ Globalization facilitates interactions between countries, businesses, and people. ⚫ Globalization can lead to cultural homogenization, raising concerns about preserving unique identities. ⚫ The UN's primary function is to maintain international peace and security. ⚫ Globalization can benefit firms by opening new markets and expanding opportunities. ⚫ The Third World was often associated with communist-bloc countries. ⚫ The UN's Millennium Development Goals aimed to address global inequalities and promote sustainable developmen Wrong information about Globalization ⚫ The Global South is not limited to the Northern Hemisphere; it includes developing countries worldwide. ⚫ Global South countries are generally developing, not rich. ⚫ The Global North/South divide is not just geographic; it considers economic development, political systems, and social factors. ⚫ The Cold War division separated the First World (Western capitalist democracies), Second World (Soviet bloc), and Third World (non-aligned). ⚫ Within developing countries (Global South), there can be pockets of wealth and development (e.g., special economic zones). ⚫ Non-aligned states were not First World. They avoided aligning with either Cold War bloc. Underdeveloped nations are not synonymous with First World.