CONTEMPORARY WORLD

It refers to countries’ lowering their labor standards, including the protection of workers’ interests, to lure in foreign investors seeking high profit margins at the lowest cost possible.

• Race to the bottom
• Worker protection increase
• Labor elevation
• Race to the top

What is Globalism?

• Globalism is the belief in isolationism and self-sufficiency within a country.
• It refers to the expansion, stretching and acceleration of these networks.

• It represents the many processes that allow for the expansion and intensification of global connections.

• It is widespread belief among powerful people that global integration of economic markets.

What is Globalization

• It refers to both the creation of new social networks and the multiplication of existing connections that cut across traditions, political, economic, cultural and geographic boundaries.

• It refers to the expansion, stretching and acceleration of these networks.

• It represents the many processes that allow for the expansion and intensification of global connections.
  

• It is widespread belief among powerful people that global integration of economic markets.
  

It is defined as the rules of the political system to solve conflicts between actors and adopt decision.

• Global Governance

• Global Economy

• Global Sustainability

• Political System

This theory stresses the development of a country or region.

(a)  

A process of dividing an area into smaller segments called regions.

(a)  

The adoption of policies by separate countries as if they were a single political unit.

(a)  

A set of processes through which the world is becoming “a single place.”

(a)  

The concept of a gap between the Global North and the Global South in terms of development and wealth.

• Global Divide

• Global City

• Global Identity

• Global Media

The Bretton Woods system was largely influenced by the ideas of British economist who believed that economic crises occur not when country does not have enough money, but when money is not being spent and thereby, not moving.

• Milton Friedman
• John Maynard Keynes
• Karl Marx
• Adam Smith