TOPIC 1

TOPIC 2
GLOBALIZATION
KINDS OF GLOBALISM
 The World Health Organization (WHO) defined  Market globalism advocates a consumerist, neoliberal,
globalization as “the increased interconnectedness and free-market world. This ideology is held by many powerful
interdependence of peoples and countries. It is generally individuals, who claim it transmits democracy and benefits
understood to include two inter-related elements: the opening everyone. However, it also reinforces inequality, and can be
of international borders to increasingly fast flows of goods, politically motivated.
services, finance, people and ideas; and the changes in  Justice globalism envisions a global civil society with
institutions and policies at national and international levels fairer relationships and environmental safeguards. They
that facilitate or promote such flows.” disagree with market globalists who view neoliberalism as
the only way.
 Giddens (1990) points out that globalization is the  Religious globalism strives for a global religious
intensification of worldwide social relations which link community with superiority over secular structures.
DIMENSIONS OF GLOBALIZATION
distant localities in such a way that local happenings are
 Economic: ‘The economic dimension of globalization’
shaped by events occurring many miles and away.
explores how the way people have undertaken economic
production has changed.
 For Mcgrew (1990) globalization is composed of multiple  Political: The political dimension of globalization’ looks at
sameness and interconnectedness that go beyond nation political arrangements beyond the nation-state.
states where individuals and organizations in one part of the  Cultural: The cultural dimension of globalization’ explores
world is affected by the activities, affairs, and convictions on the intensification and expansion of cultural flows across
another part of the globe. the globe.
 Ecological: ‘The ecological dimension of globalization’
 Globalization is the spread of products, technology, examines the effects of global alliances on ecological
information, and jobs across national borders and cultures. In issues.
economic terms, it describes an interdependence of nations STRUCTURES OF GLOBALIZATION
around the globe fostered through free trade. It is the spread  Economic Globalization -It is a historical process
of products, technology, information, and jobs across nations. representing the result of human innovation and
(Fernando, 2022) technological progress characterized by the increasing
integration of economies around the world through the
 Steger (2009) defined globalization as a set of social movement of goods, services, and capital across borders.
processes that appear to transform our present social  According to the United Nations (as cited by Shangquan,
condition of weakening nationality into one globality. It is 2000), economic globalization refers to the increasing
about the unprecedented compression of time and space interdependence of world economies because of the
growing scale of cross-border trade of commodities and
because of political, economic, and cultural change, as well
services, flow of international capital and wide and rapid
as powerful technological innovations.
spread of technologies.
GLOBALIZATION  International Trade (IT) is the process and system when
goods, commodities, services cross national economy, and
 It is a process, globality signifies a future social condition
boundaries in exchange for money or goods of another
characterized by thick economic, political, and cultural
country (Balaam and Veseth, 2008).
interconnections and global flows that make currently
There are two types of trade theories explaining international trade, namely:
existing political borders and economic barriers irrelevant.
 Descriptive Theory. It deals with the natural order and
 It is the spread of technology, products, information, and
movement of trade. It refers to the notion that individuals
jobs across nations.
are the best economic agents to solve the problems through
 NATURE It involves increasing interconnection between
invisible hand rather than the government ‘policies.
people and regions throughout the world.
Descriptive theory addresses the questions of which product
GLOBALISM
to trade, how much product to offer and produce, and which
 It is an ideology based on the belief that people, country to trade in the absence of government restrictions.
information, and goods should be able to cross national
 Prescriptive Theory. This prescribes whether government,
borders unrestricted.
an important economic institution, should interfere and
 NATURE- It is the ideological component of globalization restrict with the movement of goods and services. This
theory views government to have participation in deciding
which countries to alter the amount, composition, and
direction of goods. The pressing question describing
descriptive theory is “Should the government control
trade?”
PERSPECTIVES OF INTERNATIONAL TRADE
 Economic Liberals. The advantage of this theory in
international trade is deriving from the principle of
specialization and division of labor (Nau, 2009).
 Mercantilism. An economic theory emerged from about
1500-1800. This period was the emerging eras of nations-
states and the formation of more central governments. This
system flourished due to the following reasons: (1) Higher
export than import, (2) Export less high valued product and
import less high valued product and (3) The benefits of
colonial powers.
TOPIC 3 TOPC 5

GLOBAL ECONOMY INTERSTATE SYSTEM

 Economy-process or system by which goods and services are • It is a whole system of human interactions. The modern world-
produced, sold, and bought in a country or region system is structured politically as an interstate system
 Global economy-economies of countries are more connected from • A system competing and allying states political scientist
extraction, production, distribution, consumption and disposal of commonly call this the international system, and it is the main
goods and services focus of the field of international relations.
 Most of the definitions of globalization centers on economic STATES
dimensions. • Independently political communities each of which possesses a
ECONOMIC GLOBALIZATION (UN) government and asserts sovereignty in relation to a particular
 refers to the increasing interdependence of world economies as a portion of the earth’s surface and a particular segment of the
result of the growing scale of cross-border trade of commodities human population.
and services, flow of international capital and wide and rapid NEOLIBERALISM
spread of technologies. • The intensification of the influence and dominance of capital
TYPES OF ECONOMIES UNDER ECONOMIC GLOBALIZATION • Values market exchange capable of acting as a guide to all human
PROTECTIONISM action
 a policy of systematic government intervention in foreign trade • Emphasize the significance of contractual relations in the
with the objective of encouraging domestic production. This marketplace
encouragement involves giving preferential treatment to domestic • Social good will be maximized by maximizing the reach and
producers and discriminating against foreign competitors frequency market transactions
 comes in the form of tariffs and quota ECONOMIC SOVEREIGNITY
TRADE LIBERALIZATION (CHARACTERISTICS) • The power or national governments to market decisions
independently of those made by other governments.
 free trade
EFFECTS OF GLOBALIZATION IN LOCAL GOVERNMENTS
 countries sign free trade agreements
Community impact
 transportation and communication advancements facilitate • Property Values
movement of goods and services around the world • Jobs and opportunities
 "When you find an idea that you can’t stop thinking about, that’s • Community exposure
probably a good one to pursue." – Josh James How does globalization negatively affects local governments and local
communities?
• Yes, there is a negative side of globalization
TOPIC 4 DILEMMA FOR LOCAL GOVERNMENTS
• A local government would like to attract major global investors in
MARKET INTEGRATION their community by setting up for instance their manufacturing
• It is the fusion of multiple market in marketplaces into one firm in their areas. This could generate jobs for local people and
• Advantage Easy Selling of products and engaging in a lot of generate income for local businesses.
businesses. • Global corporation is also demanding lower taxes and lower
• Disadvantage There is a price discrepancy. income wage in order to finalize their investment in the area. They
• Global Market started before the 20th Century argue that they will create more jobs and more income from the
3 TYPES OF ECONOMIC REVOLUTION local community and government.
• AGRICULTURAL REVOLUTION INSTITUTIONS THAT GOVERN GLOBALIZATION
• INDUSTRIAL REVOLUTION A Global network
• INFORMATION REVOLUTION • With the growing globalization the governance of global relations
goes beyond the national government. One country’s scale and
scope are limited in addressing regional and global issues like
climate change, cybercrimes, global financial crises, and territorial
TOPIC 6 disputes. Aside from the governments, non-state actors continue to
increase their roles in global governance.
GLOBAL GOVERNANCE NON-STATE ACTORS
GLOBAL Non-government organizations, volunteer’s organizations, and interest groups.
• relating to the whole world; worldwide • The increase of the numbers of international organizations and the
GOVERNANCE expansion of their functions have undeniably restricted an
• making and enforcing policies within a community or organization individual country’s sovereignty to certain extent. These are
is known as governance. several institutions that govern international relations and affairs.
Global Governance INTERNATIONAL ORGANIZATIONS
• refers to the various intersecting processes that create world order. • United Nations
• Encompasses the institutions, policies, norms, procedures, and • World bank
initiatives through which states and their citizens try to bring • International monetary fund
predictability, stability, and order to their responses to • World trade organizations
transnational challenges (United Nations, 2014). UNITED NATIONS
• 192 members
• Seen as facilities of global governance
• Has regional commission which is composed of officials from
different countries that is in charge of making certain laws
promulgated certain rights for economics and social development.
WORLD BANK
• Is an international development organization owned by 187
countries. Its role is to reduce poverty by ending money to the
governments of its poorer members to improve their economies
and to improve of living their people.