It is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

Globalization

Direction: Multiple Choice - Identify the Authors of the different definitions of Globalization. Globalization as process by which people of the world are incorporated into one single world society.

Martin Albrow and Elizabeth King

Direction: Multiple Choice - Identify the Authors of the different definitions of Globalization. Globalization as the compression of the world and the intensification of the consciousness of the world as a whole.

Prof. Roland Robertson

Direction: Multiple Choice - Identify the Authors of the different definitions of Globalization. He stated that, today globalization is “farther, faster, cheaper, and deeper.”

Thomas Friedman

Direction: Multiple Choice - Identify the Authors of the different definitions of Globalization. Globalization as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occuring many miles away and vice versa.

Anthony Giddens

Globalization is a _________, and it is happening now.

Phenomenon

Globalization is the _______ interaction of people, states or countries through the growth of the international flow of money, ideas, and culture. Thus, globalization is primarily focused on economic process of integration that has social and cultural aspects.

Increasing

It is the Interconnectedness of _____ and ____ across the world that eventually lead to global, political, and economic integration.

People, Businessess

It is the ability to _______ and _________ easily with others all over the world in order to conduct business internationally.

Move, Communicate

It is the free movement of _____, ______, and people the world in order to conduct business internationally

Goods, Services

It is the ______ of countries of their impact protocols and welcome foreign investment into sectors that are the mainstays of it's economy

Liberation

Refers to countries acting like ______ attracting, global capital opening up their economies multinational corporations

Magnets

Direction: Write True if the Statement is True, and False if it is not. There is social Mobility of Movement of people regardless of reason

True

For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed ____ ____ across Central Asia that connected China and Europe during the Middle Ages.

Silk Road

Direction: Write True if the Statement is True, and False if it is not. Globalization allows poor countries and their citizens to develop economically and raise their standards of living,

True

A historical process, the result of Human innovation and technological process

Economic Globalization

The transactions in goods and services between residents and non-residents

Trade of goods and services

Are choices where assets, securities and contracts are exchanged between and organization, often functioning or secondary.

Financial Markets

Are primarily used to raise funds for businesses, supporting their operations and growth

Capital Markets

It has historical roots in ancient trade, exploration, and it continued in the 20th century through international organizations

Economic organizations

Economies becoming more similar overtime, narrowing the gap in terms of growth, income, and development

Convergence

Increasing disparities economies, leading to widening gaps in income living standards and overall development

Divergence

The value if one country's currency in terms of another country

Exchange rate

Is a set of rules, policies, and institutions governing a country's money supply currency value, and breaking the system

Monetary System

The value of a country's currency is not backed by a physical commodity like gold or silver

Fiat System

Created in 1994, rigged major currencies to the US Dollar, tying their value to the American currency

Bretton woods system

European economies come together to create a monetary system and currency, manages the money supply to maintain stability, reducing currency, exchange risk.

European Money Integration

Exchange of goods and services across borders

International trade

To regulate these exchanges, which handle tariffs, quotas, and trade agreements

Trade policies

a commerce treaty that a nation imposes without regard to others

Economic Interdependence

It enables free movement of goods and services, and capital among member states, fostering economic growth

Economic Integration

It establishes common institutions and policies, exemplified by the Euro currency

Political Integration

He astutely points out, there seems to be little utility in forcing such a complex set of social forces as globalization into a single analytic framework. It seems to make more sense to survey various approaches to globalization by linking them to the debates on the subject that have been taking place over the last two decades in two separate but related areas.

Fredrick Jameson

Scholars who dismiss the utility of globalization as an analytical concept typically advance their arguments from within a broader criticism of similarly vague words employed in academic discourse.

Rejectionists

Emphasizes the limited nature of current globalizing processes. They claim that the world economy is not a truly global phenomenon, but one centered on Europe, eastern Asia, and North America

Skeptics

Critics dispute the novelty of the process, implying that the label ‘globalization’ has often been applied in a historically imprecise manner. They confirm the existence of globalizing tendencies, but he also insists that many important aspects of globalization are not novel developments

Modifiers

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

Globalization as a Economic process

Essential subset of issues about the principle of state sovereignty, the growing impact of intergovernmental organizations, and the prospects for global governance.

Globalization as a political process

As a process intrinsically connected to the expansion of markets

Political globalization

Is portrayed as possessing an inner logic form superior to politics`

Economics

Held and McGrew might respond to these criticisms by arguing that one major strength of their approach lies in viewing globalization not as a one-dimensional phenomenon, but as a multidimensional process involving diverse domains

Globalization as a cultural process

just about everything that can be linked to some transnational process, as the general observations

Globaloney

Refers to ‘political, technical and cultural, as well as economic’ features implying that globalization is best thought of as a multidimensional phenomenon.

Contemporary life choices

Such as human rights, environmental protection, and humanitarianism, emphasize shared value across cultures

Universal principles

Includes global collective action and advocacy across borders, addressing shared issues and promoting common causes through international collaboration

Transnational activism

Promoting awareness, shaping international norms, and challenging global injustice

Impact of Trans Act on globalization

Different countries organizations and groups working together to worldwide pandemics

Global Governance

Management of global issues through collaborative networks and non-governmental actors

Governance without government

Emphasize corporate responsibility, aligning businesses with sustainable development goals for global betterment

Global compact

A unified marketplace in order to distribute goods and services seamlessly in different countries

Market Integration

Standardized product and maintain a consistent brand image and strategy world-wide

Global company

primarily operating in their home country but engage in limited international business activities such as exporting and importing

International companies

Primarily operate in different countries and have a significant presence in each. They adapt. Their product or services to local references and needs

Multinational Companies

Aims to achieve balance between global integration and local responsiveness, they seek global efficiencies while adapting to local conditions

Transnational companies

States ceased to exist as primary economic organization units in the wake of a global market.

Hyperglobalist

Was believed to guarantee a non-inflationary, stable economic environment, a means foraccelerating international trade.

The gold standard

Itis the system that gives priority to the endless accumulation of capital.

Capitalism

Is a positive norm, which means that most people assert their belief in it, and almost everyone claims that it is a virtue

Universalism