CONTEMPORARY WORLD NOTES

II. Enumeration

1-6 Core Claims of Market Globalism

1. Globalization is about the liberation and Global integration of markets
2. Globalization is inevitable and irreversible
3. Nobody is in charge of globalization.
4. Globalization benefits everyone in the long run.
5. Globalization furthers the spread of democracy in the world.
6. Globalization requires a war on terror.

7-9 The 3 Division of the Different Regions in the Globe

7. Functioning Core
8. Non-integrating Gap
9. Seam States

10-15 Identify 6 Advantages and Benefits of Globalization

10. Expansion of investment and world trade,
11. Opportunities for more developing countries to improve their standards of living,
12. Rapid dissemination of information increases,
13. Technological innovation,
14. Proliferation of skilled jobs, and
15. Opens up to international trade of the world’s most populous regions.

16-20 Identify 5 Disadvantages of Globalization

16. Wealth inequality because only big corporations benefit from unbridled free trade.
17. Racism and anti-migrant sentiment
18. Predatory Capitalism
19. Tax injustice
20. Exploits cheaper labor market

III. ESSAY
1. Explain the meaning of trade liberalization.
Trade liberalization is a process where the government restrictions ad barrier
with regards to trading are eased or loosened. This makes foreign trade and
investment faster and accessible. It also allows local businesses to grow freely and
earn as much profit as they want, thus promoting economic growth and reduction of
poverty.
2. Make a graphic organizer or any creative illustration of your own definition of
Globalization.

This illustrates my understanding of the definition of globalization.

3. Differentiate Free trade from Protectionism.

Protectionism is a system of trade that favors domestic goods and services
over foreign products while free trade refers to the system of trade between two or
more nations where there is a reduce restrictions or loosened barriers in terms of
importing and exporting goods and services