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Contemporary World

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39 views3 pages

Contemporary World

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asjfkd
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Contemporary World

goods & services out of the


Globalization country

Globalization of World IMPORT TRADE - means


Economics goods & services flowing into
the country.
Economic Globalization - is the
process of making the world ENTREРОТ TRADE - means
economy an “organic system” by importing goods from one
extending transnational country & exporting it to
economic processes and another country after adding
economic relations to more and some value to it
more countries and by
deepening the economic
interdependencies among them ADVANTAGES
(as cited by Coronacion, et.al, ● Comparative Advantage
2018:32). ● Economies of Scale,
Competition
● Transfer of Technology
● More job creation
Nowadays, states are no longer
the sole player in international
trade and world economy. Other DISADVANTAGES
non-state actors such as the ● Over-dependence
multinational corporations ● Unfair to new companies
(MNCs), international financial ● A threat to National
institutions, and Security
non-governmental ● Pressure on natural
organizations. resources
NEEDS
Price - If foreign companies can
INTERNATIONAL TRADE produce goods & services more
cheaply, then it may be
-refers to exchange of goods & beneficial.
services between countries. In
simple words, it means the Quality - If the companies
export and import of goods and abroad can offer good and
services services of superior quality

AVAILABILITY - it's impossible


Definition of Terms to produce a product
domestically
Export Trade -means selling

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Contemporary World
caused by the war.
Demand - iif demand for
product/services is more in the
country than what it can The Global Interstate System -
domestically produce, then it The study of the contemporary
goes for import.. world is not just about the
globalization of economy but
also of governance.
International Economic
Organizations
With the emergence of the
study of international relations,
International Monetary Fund
interactions among various
(IMF) - The IMF’s fundamental
actors in the international
mission is to ensure the
stage have become relevant in
stability of the international
the academic realm.
monetary system.
It does so in three ways:
keeping The expanding of these
interactions paved the way to
● track of the global
the phenomenon known as
economy and the
internationalization.
economies of member
countries;
● lending to countries
with balance of
payments difficulties;
What is Internatlization?
● giving practical help to
members.
Internationalization – is the
process of increasing
World Bank - a.k.a the involvement in international
International Bank for operations, both sides of inward
Reconstruction and the and outward should be involved
Development. in a broader concept of
internationalization.
Purpose
Internationalism – it is the
● provide long-term loans system of heightened
for the economic interaction between states with
development of the desire for greater
developing countries cooperation and unity.
● reconstruction of
affected countries Interstate system – interaction

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Contemporary World
of modern states with one formal structure that implements
another on the global system. and enforces these rules.
This led to the shifting from
international politics to “global
politics.” The United Nations (UN)
is the primary international
The occurrence of problems organization responsible to
and issues such as climate maintain international peace,
change, terrorism, and cooperation and security
pandemic has become global in . As of now, it has 193 Member
nature and eventually affect all States which are all members
the states. of the General Assembly.

This has led the states and


other non-state actors to
cooperate and address these
concerns.

What is Global Governance ?

is the sum of laws, norms,


policies, and institutions that
define, constitute and mediate
trans-border relations between
states, cultures, citizens,
intergovernmental and
non-governmental
organizations and the
market-the wielders and the
object of the exercise of
international public order.
International organizations
are institutions with formal
procedure and a membership
comprising three or more
states.
They are characterized by rules
that seek to regulate the relations
amongst member states and by a

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