points out that globalization is the intensitification of worldwide social relations which link distant localities in such a way that local happening are shaped by events occurring many miles and away

globalization is composed of multiple sameness and interconnection that go beyond nation dtated where individuals and organization in one part of the world is affected by the activities, affairs, and convictions on another part of the globe

describe globalization as the intensitification of economic social relations across borders

it is the processes by which the people of the world are incorporated into a single world society, global society

said that it is condition where the world is becoming a global shopping mall in which ideas and products are available everywhere at the same time

defined globalization as a set of social processes that appear to transform our present social contribution of weakening nationality into one globality

further differentiated globalization, globality, and globalism

The economic dimension of globalization explores how the way people have undertaken economic production has changed

The political dimension of globalization looks at political arrangements beyond the nation state

The cultural dimension of globalization exploees the intensitification and expansion of cultural flows across the globe

Refers to the sharing of ideas and information between and through different countries

-Refers to barriers that prevent or make difficult the movement of things -can either be natural man made

Refers to the increasing ease of movement of people, things, information and places in the contemporary world

refers to the increasing sameness in the world as cultural, economic factors and political orientations of societies expand to creat common practices, same economies, and similar forms of government

Pertains to the creation of various cultural practices, new economies and political groups because of the interaction of elements from different societies in the world

Theories of Globalization

-Also Called to as "world economy" -Refers to the international exchanges good and services

WTO stands for?

Refers to the process of creating a unified marketplace where goods, services, and capital can flow freely between countries or regions. It is also a central aspect of economic globalization which refers to the increasing interconnectedness of economies and societies around the world

IFI stands for?

- are charted by more than one country and therefore are subjects to international law - the owners if shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholder

The International Financial Institutions (IFI) are:

IMF stands for?

MDBs stand for?

Multilateral Development Banks (MDBs) which includes:

Is the whole system of human interactions. The modern world system is a structured politically as an interstate system - a system of competing and allying states

Devision Of Labor

high income nations in the world economy. The manufacturing base of the planet where resources funnel in to become the technology and wealth enjoyed by the Western World Today

Are the middle income countries, such as India and Brazil. These are considered _ die to ther closer ties to the global economic core

Called as the low income countries whise natural resources or labor support the wealthier countries. They are dependent on core countries for capital and have a underdeveloped industry

Represent the short term fluctuation of economy, while secular trends mean deeper long run tendencies such as general economic growth or decline

is sometimes referred to as "world governance" Global is movement towards political corporation among transnational actors, negotiating responses to problems that affect more than one state or region

is an independent multilateral organization that became responsible for trade in services, non related barriers to trade, and other broader areas of trade liberalization