Professional Documents
Culture Documents
Contemporary World Reviewer
Contemporary World Reviewer
Contemporary World Reviewer
Globalization
Defining Globalization
• The intensification of worldwide
social relations which link distant
localities in such a way that local
happenings are shaped by events
occurring many miles away and vice
versa. (Giddens)
• Internationalization and multi-
nationalization are phases that
precede globalization because the
latter herald the end of the state
system as the nucleus of human
activity. (Grupo de Lisboa)
Defining Globalization
• Refers both to the compression of
the world and the intensification
of consciousness of the world as a
whole.(Robertson, 1992)
• The 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 technologies (Sunny
Levin Institute)
Defining Globalization
• The history of globalization is driven by
technology, transportation, and
international cooperation (PIIE, 2019)
• The expansion and intensification of
social relations and consciousness
across the world time and across
world space” (Steger)
- Relates to the way people perceive
time and space. (both objective and
subjective)
- Must be differentiated with an
ideology called GLOBALISM (belief)
Globalization and the Elephant Model
Globality
• A social condition characterized by tight economic, political,
cultural and environmental interconnections and flows,
making currently existing borders and boundaries irrelevant.
Global Imagery
• A concept referring to people’s growing consciousness of belonging to a global
community
• Destabilizes and unsettles the conventional parameters of understanding within
which people imagine their communal existence
Glocalization
• The creation of products/services/communications for the global market that are adaptable
to local cultures (Jankowski, 2019)
• The term was based around the Japanese word dochakuka, which means adapting farming
techniques to one's own local condition. Products should be suited to local taste and
interests but should be global in application and reach (Mukhopadhyay, 2021)
McDonaldization of Society (Ritzer 1993)
- the increasing presence of the fast-food
business model in common social
institutions.
Cultural Adaptability
• Globalization of markets involves
the growing interdependency
among the economies of the
world; multinational nature of
sourcing, manufacturing, trading,
and investment activities;
increasing frequency of cross-
border transactions and financing;
and heightened intensity of
competition (Cavisgil, 1993).
• The multinational and the
global corporation are not
the same thing. The
multinational corporation
operates in a number of
countries, and adjusts its
products and practices in
each—at high relative costs.
The global corporation
operates with resolute
constancy—at low relative
cost—as if the entire world
(or major regions of it) were a
single entity; it sells the same
things in the same way
everywhere (Levitt, 1983)
https://www.visualcapitalist.com/the-biggest-companies-in-the-world-in-2021/
The Lexus and the Olive Tree
***Olive Tree - provides a feeling of self-esteem
and belonging that are essential for human
survival as food in the belly.
- One reason that the nation-state will never
disappear, even if it does weaken, is because it
is the ultimate olive tree - the ultimate
expression of whom we belong to - linguistically,
geographically and historically
- But an attachment to one's olive trees, when
taken to excess, can lead us into forging
identities, bonds and communities based on the
exclusion of others.
EX. Nazi, Serbs, and to some extent Trump’s
“America First” policy
The Lexus and the Olive Tree
***Lexus - it represents an equally fundamental, age-
old human driver - the drive for sustenance,
improvement, prosperity and modernization - as it is
played out in today's globalization system. The lexus
represents all the burgeoning global markets, financial
institutions, and computer technologies with which we
pursue higher living standards today.
• Clockwise movement or
• Straight ahead?
• How to beat the “tyranny of
distance, time and space”
Types of Globalization
• Political Globalization - refers to the
diplomatic negotiations between
nation-states. It includes the
standardization of global rules around
trade, criminality, and the rule of law.
One of the biggest positives of political
globalization is that it creates
international rule of law. An argument
against political globalization is that it
involves countries meddling in each
other’s business.
• Social Globalization - Also known as
sociological globalization, it refers to the
integration of our societies. It is the idea
that we now live in a shared society.
(There are many
different cultures within a society. But a
society is a group of people who all live
together).
https://helpfulprofessor.com/types-of-globalization/
Types of Globalization
• Economic Globalization - refers to the
ways corporations do business as
multinational organizations
nowadays. This can help developing
nations increase overall employment
but can be considered exploitation of
nations with poor working conditions.
It also takes good paying jobs away
from developed nations.
• Technological Globalization - refers to
the spread of technology around the
world. The spread of technologies can
be interpreted as the ‘rising tide lifts
all boats’ argument. Globalization
means we can make the most of the
best technologies from all around the
world to make everyone’s lives better
and improve everyone’s economies.
https://helpfulprofessor.com/types-of-globalization/
Types of Globalization
• Financial Globalization - refers to
the ease at which money can be
spread around the world. It’s now
easy and cheap to invest for new
business ventures. But many nations
also face backlash because overseas
companies buy out too much of their
businesses which could be a threat
to a nation’s sovereignty.
• Cultural Globalization - refers to the
spread and mixing of cultures
around the world. dominant nations
like the United States spread their
cultures through television and
movies, which leads to the dilution
and loss of local and indigenous
cultures (i.e. cultural appropriation)
https://helpfulprofessor.com/types-of-globalization/
Types of Globalization
• Ecological Globalization - refers to the
idea that the world needs to be
considered one interconnected
ecosystem. People should work
together to address ecological issues
that cross the borders of nation-
states. Climate accords like the Kyoto
Protocol and the Paris Climate
Agreement have been put into place,
where each nation agrees to invest in
lowering its carbon emissions.
• Geographical Globalization - refers to
the idea that the world is no longer
seen as groups of distinct nations as
much as it once was. We now work in
multinational blocs to make decisions,
and nations work together to solve
problems.
https://helpfulprofessor.com/types-of-globalization/
Scapes and Multiple
Globalization
• Arjun Appadurai: Different kinds of globalization
occur on multiple and intersecting dimensions of
integration – “SCAPES”
• “ethnoscapes” – global movement of people
• “mediascapes” – flow of culture
• “technoscapes” – circulation of mechanical
goods and software
• “financescapes” – global circulation of money
• “ideoscapes” – realm where political ideas move
around
Globalization as
Ideology
• Exist in the people’s consciousness – ideas and beliefs
about the global order
• 6 Core Claims
1. Globalization is about the liberalization 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 global war on terror.
Transnationality and
Transnationalism
• Transnationalism – an umbrella concept
encompassing a wide variety of transformative
processes, practices and developments that take
place simultaneously at a local and global level
• Transnational processes and practices – broadly
as the multiple ties and interactions – economic,
political, social and cultural – that link people,
communities and institutions across the borders
of nation-states.
• Transnational links – more intense due to speed
and relatively inexpensive character of travel and
communications and their impacts
The Global
Economy
An overview
As of March 2021
Source: knoema.com
As of March 2021
Source: knoema.com
• Gross domestic product
(GDP) is the total
monetary or market value
of all the finished goods
and services produced
within a country's borders
in a specific time period.
As a broad measure of
overall domestic
production, it functions as
a comprehensive
scorecard of a given
country’s economic
health.
Source: Investopedia.com
• In nominal terms, the U.S. still has the largest
GDP at $25.3 trillion.
• China’s economy is not far behind in nominal
terms at $19.9 trillion.
• Japan is a far third with $4.9 trillion, followed
by Germany with $4.3 trillion.
• The Philippines ranked 38th with $412 billion.
The roots of all
Money Talk in the
world today
• Bretton Woods Conference (July 1944)
marked the birth of the new
international economic framework.
• 44 countries in attendance agreed to
create the International Monetary Fund
and the World Bank.
• The General Agreements on Tariffs and
Trade (GATT) was also created.
International
Monetary Fund
• Its primary purpose is to promote global
monetary cooperation and international
financial stability.
• It monitors the system of pegged or fixed
exchange rates.
• Official exchange rates of currencies were
related to gold and US dollar.
• It provides short-term loans to prevent
devaluation and retain the state’s fixed
exchange rate during balance-of-payment
deficits.
• It is the amount a country owes to foreign lenders like
individuals, businesses, and other governments. It is
also called “public debt” or “sovereign debt.”
• It is the accumulation of annual budget deficits
(spending more than its annual tax
collections/revenues)
What is a • In the short run, public debt is a good way for countries
to get extra funds to invest in their economic growth. It
“National is a safe way for foreigners to invest in a country's
growth by buying government bonds.
Debt”? • It’s bad when governments take on too much debt even
if the benefits make them popular with voters. Investors
usually measure the level of risk by comparing debt to
a country's total economic output or GDP.
• When it appears that the debt is approaching a critical
level, investors usually start demanding a higher interest
rate.
https://www.thebalance.com/what-is-the-public-debt-3306294
Source: statista.com
National debt
• Japan’s ballooning debt is partly
hinged on various infrastructure
projects to stimulate the
economy.
• Government bonds being held
by its citizens with extremely
low interest rates.
• Low interest rates mean Japan is
unlikely to generate enough
funds for debt servicing alone,
other than tax revenues.
https://www.thebalance.com/what-is-balance-of-payments-components-and-deficit-3306278
• A country's balance of payments tells you
whether it saves enough to pay for its imports. It
also reveals whether the country produces
enough economic output to pay for its
growth. The BOP is reported for a quarter or a
Key year.
• It's like taking out a school loan to pay for
education. Your expected higher future salary is
points for worth the investment.
• In the long-term, the country becomes a net
https://world101.cfr.org/global-era-issues/monetary-policy-and-currencies/what-central-bank-and-what-does-it-do-you
Fiat Money
• “Fiat” means “It Shall Be”; value is derived from
government and people’s trust
• Not tied to gold or silver anymore (representative
money); cannot be redeemed for gold or silver
• Government-issued currency that is not backed
by a commodity such as gold
• Gives central banks greater control over the
economy because they can control how much
money is printed
• One danger of fiat money is that governments will
print too much of it, resulting in hyperinflation.
https://www.investopedia.com/terms/f/fiatmoney.asp
Currency pegged to US dollar
Currency exchange rates
• Countries usually “peg” their
currencies to maintain stability for
investors, who don’t want to worry
about fluctuations in the currency’s
value. If a currency’s value drops, the
value of the investment would drop as
well.
• Most exchange rates are “floating,” or
dependent on various economic
factors.
• Currencies that depreciate is described
as “getting weaker” because you can
buy less foreign currency with it.
• Supply and demand - currencies increase in value when lots of people want to buy them, and
they decrease in value when fewer people want to buy them.
https://world101.cfr.org/global-era-issues/monetary-policy-and-currencies/understanding-currencies-and-exchange-rates
How the US Dollar
benefits Americans?
1. It makes it cheaper for the United
States to borrow money. With low
interest rates to pay for loans, the US
can have more money to spend in
other programs or projects.
2. It makes life cheaper for average
Americans, therefore increasing their
purchasing power. But the stronger
dollar makes it more expensive for
foreigners to import American goods.
3. It gives the US diplomatic advantage to
pressure countries to yield according to
its demands or risk having limited
trading options.
https://world101.cfr.org/sites/default/files/video-transcripts/2019/05/Transcript%20Global%20Dollar.pdf
The World Bank
• Its role is to grant long-term loans for
the economic development of less
developed countries and the
reconstruction of war-torn countries.
• It seeks to reduce extreme poverty
while addressing the imperfections of
global capital markets (Clemens and
Kremer, 2016).
• Donor countries work with the World
Bank due to the economies of scale
brought by negotiating agreements
with recipient countries that involve
policy changes.
The World Bank
• It is made up of two institutions:
a. International Bank for Reconstruction
and Development, which provides
lending to middle-income and
creditworthy low-income countries.
b. International Development Association,
which grants credits and loans to
lowest-income countries.
• It is only a component of the World Bank
Group composed of International
Finance Corporation (IFC), Multilateral
Investment Guarantee Agency (MIGA),
and International Center for Settlement
of Investment Disputes.
Some criticisms on the IMF-World Bank
• Structural under-representation
of the Global South – power
imbalance
• Undermining democratic
ownership – limiting ability to
make policy decisions and eroding
ownership of national
development strategies
• Biased and inconsistent decision-
making – supporting dictatorship
projects
• Weak ability to learn from past
mistakes
• Effective impunity for harms
caused
https://www.brettonwoodsproject.org/2019/06/what-are-the-main-criticisms-of-the-world-bank-and-the-imf/
• Its purpose is to avoid a trade war by raising protectionist barriers.
General - Protectionism is a government policies that restrict international trade
Agreements to help domestic industries. Its goal is to improve economic activity
within a domestic economy but can also be implemented for safety or
on Tariffs and quality concerns.
• While it succeeded in liberalizing trade, GATT failed to address expansion of
Trade trade in services, investment, and intellectual property.
- Issue with knock-off products with less tariffs and poor quality
(GATT) • It was superseded by the World Trade Organization in 1995.
• It is the only international organization dealing with the global rules of trade. Its
main function is to ensure that trade flows as smoothly, predictably and freely
as possible.
• By lowering trade barriers through negotiations among member governments,
World Trade it also breaks down other barriers between peoples and trading economies.
Organization • Its multilateral trading system are composed of agreements, negotiated and
signed by a large majority of the world’s trading economies, and ratified in their
parliaments.
• The goal is to improve the welfare of the peoples of the WTO’s members.
https://www.wto.org/english/thewto_e/whatis_e/inbrief_e/inbr_e.htm
WTO and the
Philippines
• Before entering the WTO, the Philippines had
import quotas for all agricultural products.
• Upon entering the WTO, the Philippines
abolished all quotas, replacing it with tariffs
that are “among the lowest in the region and
often close to the preferential rates” offered
to members of ASEAN.
• The last import quota restriction on rice was
virtually abolished after the signing of the
Rice Tariffication Law in 2019.
• The Philippines have become a “dumping
ground” of rice imports from state-funded
agricultural economies like Thailand and
Vietnam.
The UNITED
NATIONS
An overview
• Realism - all nations are working to increase
their own power and overcome the less
powerful. To achieve self-preservation and
advance the national interest, deceit and
The global system is violence are necessary.
anarchic, which • Liberalism – world peace is attainable
necessitates global through international cooperation. Death
governance to and economic loss would deter nations from
maintain resorting to violence to achieve its interest.
international peace • Constructivism – a nation’s belief system
and security (historical, cultural and social) determines its
foreign policy and international behavior.
Non-state actors are more important than
the state.
https://online.norwich.edu/academic-programs/resources/key-theories-of-international-relations
• Marxism - believes that the capitalist
structure of the international system
should be dismantled. Cooperative
The global system is ownership dictated by the people, and
anarchic, which not the state, should replace private
necessitates global property to satisfy human needs, rather
than private profit.
governance to
maintain • Feminism - seeks to regulate the power
derived from (or denied on the basis of)
international peace an individual’s gender. It focuses on
and security tracking political and social developments
that inhibit success in female
populations.
https://online.norwich.edu/academic-programs/resources/key-theories-of-international-relations
• Founded on October 24, 1945 in San Francisco, USA
Origins of the • UN Charter was ratified by 51 states, including PHL
https://www.icj-cij.org/en/frequently-asked-questions
Engagement vs. Isolationism
• Engagement - participating in global
affairs. It can take the form of a country
participating in global trade, joining
multilateral organizations, shaping
international norms and standards,
entering into military alliances, and
promoting cultural exchange.
• Isolationism – shielding oneself from the
outside world. It believes that countries
can more easily avoid getting dragged
into costly foreign wars. It also protects
the country from negative influences,
such as drugs and crime.
https://world101.cfr.org/foreign-policy/approaches-foreign-policy/isolationism-versus-engagement
Criticisms on the UN
• Western governments see the UN as
bloated and inefficient
• Developing states see it as undemocratic
and dominated by the rich.
• Issue of parity - over and under-
representation (Gould and Rablen, 2017)
• Known for institutional cover-ups of
corruption and the undemocratic politics
of its security council. It goes to war in
the name of peace but has been a
bystander through genocide.
https://www.theguardian.com/world/2015/sep/07/what-has-the-un-achieved-united-nations?fbclid=IwAR2fdy3bHjivuBXkiY69J-
i5Gpib9BmvYW87CinrsW9UejDDqdQvEe9k6W8
Criticisms on the UN
• The Security Council’s job to maintain international peace is
constrained by the bitter divisions between Russia and the
West.
• It has been feckless in the face of major conflicts, particularly
those in which permanent members have a stake.
• Failed to handle the six-year-old conflict in Syria, with Russia
backing the government of President Bashar al-Assad and
the United States, Britain and France supporting some
opposition groups.
• North Korea, as a long an ally of China, repeatedly ignored
the UN prohibitions against conducting nuclear tests.
• The duties of the UN secretary general are vague. He or she
is expected to show no favoritism to any particular country,
but the office is largely dependent on the funding and the
good will of the most powerful nations.
https://www.nytimes.com/2017/09/17/world/americas/united-nations-un-
explainer.html?fbclid=IwAR02q6CqVA6_0GTrkaJLGcPp6Q4mk83-Ta2v3Eg8srIisfBIo1lvRuVGD_o
Some well-known U.N. efforts that
ended in failure or scandal
• The 1994 Rwanda Mission: During this undertaking, the U.N. tried to
stop the Rwanda genocide, but the Hutus slaughtered nearly a million
members of the Tutsi minority.
• Cholera in Haiti: After the 2010 earthquake, U.N.-led Nepali aid
workers were blamed for spreading cholera throughout Haiti. More
than 10,000 people died from the outbreak.
• Oil for Food Program: This initiative was designed to allow Iraq to sell
oil through the U.N. in exchange for food and medicine. But accusations
surfaced that much of the money was funneled to the Iraqi government
and to U.N. officials.
• Sexual abuse allegations: In early 2005, U.N. peacekeepers were
accused of rape or paying for sex in the Republic of Congo. Similar
allegations of sexual misconduct were also reported in Cambodia, Haiti
and other countries.
• Crisis in South Sudan: A U.N. peacekeeping mission, which was
established in 2011, was unsuccessful at protecting civilians from
death, torture or rape in South Sudan.
https://www.history.com/topics/world-war-ii/united-nations?fbclid=IwAR2_2tqvKFKf6Dv674IgJx4eD8Omr92g1tS4MbzezRYb1cPNuN5qdTRipms