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    The Structures of Globalization

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    Saige Kleine
    Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology and capital. There are three main components of globalization - economic, cultural/social and political. Economic globalization involves the worldwide movement of goods, capital, services and technology. It has led to the establishment of international institutions like the IMF, World Bank and WTO to facilitate and monitor global economic activity. Political globalization involves reducing the sovereignty of nation states and increasing global governance. Examples include the European Union and NATO. While it can increase trade and movement, it may also decrease political accountability. Factors that affect the global economy include natural resources, infrastructure, population, technology and international laws and agreements.

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    The Structures of Globalization

    Uploaded by

    Saige Kleine
    49 views28 pages
    Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology and capital. There are three main components of globalization - economic, cultural/social and political. Economic globalization involves the worldwide movement of goods, capital, services and technology. It has led to the establishment of international institutions like the IMF, World Bank and WTO to facilitate and monitor global economic activity. Political globalization involves reducing the sovereignty of nation states and increasing global governance. Examples include the European Union and NATO. While it can increase trade and movement, it may also decrease political accountability. Factors that affect the global economy include natural resources, infrastructure, population, technology and international laws and agreements.

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    Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology and capital. There are three main components of globalization - economic, cultural/social and political. Economic globalization involves the worldwide movement of goods, capital, services and technology. It has led to the establishment of international institutions like the IMF, World Bank and WTO to facilitate and monitor global economic activity. Political globalization involves reducing the sovereignty of nation states and increasing global governance. Examples include the European Union and NATO. While it can increase trade and movement, it may also decrease political accountability. Factors that affect the global economy include natural resources, infrastructure, population, technology and international laws and agreements.

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    49 views28 pages

    The Structures of Globalization

    Uploaded by

    Saige Kleine
    Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology and capital. There are three main components of globalization - economic, cultural/social and political. Economic globalization involves the worldwide movement of goods, capital, services and technology. It has led to the establishment of international institutions like the IMF, World Bank and WTO to facilitate and monitor global economic activity. Political globalization involves reducing the sovereignty of nation states and increasing global governance. Examples include the European Union and NATO. While it can increase trade and movement, it may also decrease political accountability. Factors that affect the global economy include natural resources, infrastructure, population, technology and international laws and agreements.

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    The Structures of

    Globalization
    What is Globalization?

     Globalization is the process by which ideas, knowledge, information, goods, and services
    spread around the world. In business, the term is used in an economic context to describe
    the integrated economies marked by free trade, the free of flow of capital among
    countries, and easy access to foreign resources. Including labor markets, to maximize
    returns and benefit for the common good.
    3 Components of Economic Globalization

     Economic Globalization
     Cultural/Social Globalization
     Political Globalization
    Economic Globalization

     It refers to the widespread international movements of goods, capital, services,


    technology, and information.
     Economic Globalization primarily comprises the globalization of:
    1.) Production 6.) Regimes
    2.) Finance 7.) Institutions
    3.) Markets 8.) Corporations
    4.) Technology 9.) Labor
    5.) Organizational
     Is one most often mentioned in the media.
     It is associated with massive amounts of financially traded daily on the different stock
    markets around the label “NEW ECONOMY”
    Economic Globalization

     In order to monitor the economy, 3 economic institutions were created.

    1.) The International Monetary Fund (IMF) would oversee the international monetary system.
    2.) The International Bank for Reconstruction and Development (IBRD) later named World
    Bank (WB) would provides loan for European reconstruction but later expanded its activities
    to the developing world.
    3.) The General Agreement on Tariffs and Trade renamed of the world Organization in 1992
    would oversee multilateral trade agreements.
    Cultural Globalization

     Migration this process has been going on for several centuries, with languages,
    religious beliefs, and values being spread by military conquest, missionary work and
    trade.
     Food is an important aspect of culture and most societies around the world. The cultural
    globalization of food has been promoted by fast-food giants such as McDonald’s, Coca-
    Cola and Starbucks.
     Sport all the international sporting events- most notably the World Cup and the Olympics
    which binds millions together, truly global, “leisure experience”
    Converging Global Consumption Patterns

     More and more in Asia and South America are coming to enjoy a high-consumption
    lifestyle’
     Central to this is a growth of similar styles of shopping malls and leisure parks which
    provide a homogenous cultural experience in different regions across the world.
    Homogeneity

     Comes into society in several ways-ethnically (Japanese), religiously (many Arabs),


    culturally (Indians), politically (communism).
     The study has shown that the most prominent type of homogeneity is ethnicity, where
    everybody shares similar physiological characteristics and cultural behavior.
    Financial Homogeneity

     It exists in many countries.


     North Korea is a great example of financial homogeneity, at an extreme level another
    good example is Scandinavian countries where the government makes sure that every
    citizen of the country enjoys high-level living standards.
    The Global Village

     Individuals and families are now more directly plugged into the news from the outside
    world- some of the most gripping events of the past decade have unfolded in real-time in
    front of global audience.
    Political Globalization

     The Globalization of Political refers to the absence of the absolute sovereignty of a state’s
    political boarders over a certain area as well as increased interaction between systems of
    government and increased external intervention and interaction on the basis of democracy,
    non-government organizations and freedoms.
    Advantages of Political Globalization

     Establishment of International Norms when nation-states sign treaties with


    international bodies it’s an agreement to operate within a set of norms and standards that
    all signatories will adhere to.
     Ease of movement often political agreements between nations lead to the relaxing of the
    movement of labor across boundaries. This can lead to immigration and emigration
    opportunities for millions of people.
     Easy trade one of the key goals of political globalization is to create better trade routes
    around the world in effect, to support and promotes economic globalization.
    Disadvantages of Political Globalization

     Loss of Power at the Nation-State level when nation-states make multinational


    agreements, they often make concessions on order to reach a middle ground that
    satisfactorily to all parties.
     Levels of Bureaucracy multinational political agreements can add extra layers of
    bureaucracy to the everyday activities of businesses and citizens. For example, many
    global political agreements put in place standards that you need to “tick off” before
    sending a product to market.
     Decreased political Accountability one of the biggest critiques of bodies like World
    Trade Organization, EU, United Nations is that the they are full unelected bureaucrats.
    Examples of Political Globalization

     European Union is a trade and treaty bloc comprising 27 nation-states on the continent of
    Europe. It is the successor of several other political agreements established after World
    War II to help integrate the European continent after the war.
     NATO the Northern American Treaty Organization is another multi-national political
    treaty established after World War II. NATO’s primary goal is to contain Russian
    aggression by creating a military pact. If one NATO nation is attacked then the rest will
    supposedly come to their defense.
     Belt and Road Initiative is a trade initiative established by China designed to spread
    China’s sphere of influence across Asia and Middle East
    Global Economy

     refers to the interconnected worldwide economic activities that place between multiple
    countries. These economic activities can have either a positive or negative impact on the
    countries involved.
    Characteristics of Global economy
     Globalization describes a process by which national and regional economies, societies,
    and cultures have become integrated through the global network or trade, communication,
    immigration and transportation. These developments led to the advent of the global
    economy.
     International trade is considered to be an impact of globalization. It refers to the exchange
    of goods and services between different countries.
     International Finance money can be transferred at a faster rate between countries. It
    consists of topics like currency exchange rates and monetary policy.
     Global investment an investment mainly takes place via Foreign Direct Investment (FDI).
    Who controls of Global Economy?

     Although governments do hold power over countries. It is the big banks and large
    corporations that control and essentially fund these governments. This means that the
    global economy is dominated by large financial institutions.
    Factors affecting the Economy

     Natural resources
     Infrastructure
     Population
     Labor
     Human capital
     Technology
     Law
    Market Integration

     Integration shows the relationship of the firm in a market.


     Example: establishment of wholesaling facilities by food retailers and the setting up of
    another plant by milk processor.
    Reasons for Market Integration

     To remove transaction costs


     Foster competition
     Provide better signals for optimal generation and consumption decisions
     Improve security of supply
    The Global Interstate System

     It is the whole system of human interaction. The modern world-system structured


    politically as an interstate system a system of competing and allying states. A political
    scientist commonly calls this the international systems and it is the main focus of the field
    of International Relations.
    International Financial Institutions:
     World Bank
     International Monetary Fund
     Asian Development Bank
     African Development Bank
    Trade Agreement

     It is when two or more nations agree on the terms of trade between them.
     They determine the tariffs and duties that countries impose on imports and exports. All
    trade agreements affect international trade.
     Imports are goods and services produced in a foreign country and bought by domestic
    residents that includes anything thar shipped into a country even if it’s by the foreign
    subsidiary of a domestic firm.
     Exports are goods and services that are made in a country and sold outside its borders.
    That includes anything shipped from a domestic company to its foreign affiliate or
    branch.
    Contemporary Global Governance

     Encompasses activities that transcend national boundaries at the international,


    transnational, and regional levels and is based on rights and rules that are enforced
    through a combination of economic and moral incentives.
    Why we need Global Governance

     National policies has ad direct effects on a country good or bad.


     Its global effects on countries cannot be ignored.
     It helps nations to develop their capacity to deal with the challenges of globalization.
     Global governance includes citizen’s participation in the global decision making.
    END
    1.) Factors affecting Economy
    2.) Structures of Globalization
    3.) what are the components of Economic globalization?
    4.)What is Globalization?
    5.) what are the advantages and disadvantages give at least one.
    6.) Examples of political globalization

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