According to (a)   globalization is the expansion and intensification of social relations and consciousness across world-time and across world-space

What are the Core Aspects of globalization?

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The increasing linkage of national economies through trade, financial flows, and foreign direct investment… by multinational firms

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Two types of economy

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protecting one’s economy from foreign competition by creating trade barriers

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reducing trade barriers to make international trade easier between countries

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Development of forms of governance that operate at the global scale, whose policies and rules cooperative nations are expected to abide

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-          State sovereignty is reduced

-          Countries veto decisions and slow down decision making processes

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As a ‘densely growing network of complex cultural interconnections and interdependencies that characterize modern social life’

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-          The rise of an increasingly homogenized global culture

-          ‘americanization’

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It is the increasing integration of economies around the world through the movement of goods, services, and capital across borders

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a type of investment in which a company established a business in another country for the production of goods and services and still takes part of managing of that business

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a network of trade routes connecting China and the Far East with the Middle East and Europe

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connected Manila and Mexico; the first time that Americas were directly connected to Asian trading routes

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The Actors that facilitate Economic Globalization

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works to achieve sustainable growth and prosperity for all of its 190 member countries.

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European nations and US shifted to gold at the international monetary conference in Paris

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it was believed to guarantee a non-inflationary, stable economic environment, a means for accelerating international trade

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agreement of 1944 established a new global monetary system

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Countries promised that their central banks would maintain fixed exchange rates between their currencies and the dolla

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Two Financial Institutions

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International Bank for Reconstruction and Development (IBRD) is also known as

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Acts as a mediator between the effects of globalization and the national economy

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These companies work to have a foothold in a large number of countries

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it is generally referred to as a multinational corporation

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Place where two parties can gather to facilitate the exchange of goods and services

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The action or progress of successful joining or mixing with a different group of people

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is the phenomenon by which price interdependence takes place

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is assumed to mean that price change in one market affects the prices in other markets

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According to (a)   market integration is assumed to mean that price change in one market affects the prices in other markets

fusing of markets into one

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history of global market integration

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Founded by groups of countries to promote public and private investment to foster economic and social development in developing and transitioning countries.

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Owned and managed by national governments acting as borrowers, lenders or donors.

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-          Provided loans, credits, and grants to finance projects run by governments or the private sector

-          Focus areas are in fragile states and those most affected by poverty

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it is known as global companies

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They typically market their products and services to each individual local market

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the interactions between sovereign states

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to explore the deepening of interactions between states

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a compulsory political organization with a centralized government that maintains the legitimate used of force within a certain territory

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According to (a)   state is a compulsory political organization with a centralized government that maintains the legitimate used of force within a certain territory

emphasizes on the organic ties that hold groups of people together and inspire a sense of loyalty and belonging

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imagined community

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established in 1993 with a 28 state members

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has 164 member states

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the sole IGO that caters to rules of trade on a global scale

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A system of heightened interaction between various sovereign states, particularly the desire for greater cooperation and unity among states and people

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 the idea of internationalism which proposes that nations must give up their freedom and submit to a larger system of laws that is embodied by common international principles

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According to (a)   liberal internationalism is the idea of internationalism which proposes that nations must give up their freedom and submit to a larger system of laws that is embodied by common international principles

Who assumed that nationalism and international cooperation complemented each other

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Cooperation among nation-state is essential

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based on the view that capitalism is a global system and that the working class must unite as a global class to forward the struggle against capitalism

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According to (a)   socialist internationalism is based on the view that capitalism is a global system and that the working class must unite as a global class to forward the struggle against capitalism

Who is one of the biggest critic of Mazzini?

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-          a union of European socialist and labor parties established in Paris in 1899

-          creation of May 1 as Labor Day and March 8 as International Women’s Day

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a facet of contemporary political globalization that seeks to form collaboration among nation-states through the establishment of intergovernmental organizations

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rooted on the idea of internationalism

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Refers to international intergovernmental organizations or groups that are primarily made up of member-states

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An international organization established on October 24, 1945

Its membership has grown from the original 51 Member States in 1945 to the current 193 Member States

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Committed to maintaining international peace and security; developing friendly relations among nations; promoting social progress,  better living standards and human rights

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Main deliberative organ of the UN

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the first diplomat elected as a GA president from 1949-1950

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The maintenance of international peace and security

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holds a veto power over the council’s decisions. It only requires one (1) veto vote to stop an SC action

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-          Established by the UN charter in 1946

-          Empowered to recommend international action on economic and social issues;…, and cultural and related areas

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Established to provide international supervision for 11 trust territories… prepare the territories for self-government or interdependence

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Commonly known as the World Court

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The principal judicial organ of the UN

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Setting legal disputes between states and giving advisory opinions

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Consisting of staff representing all nationalities working in duty stations all over the world

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-          Carries out the day-to-day work of the Organization

-          Services the other principal organs of the UN

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the ninth Secretary General of the UN took office on 1^st January 2017

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