According to Mohan (2009), economic globalization refers to the

free movement of goods, capital, service, technology, and

information.
It results too an increasing economic integration and
independence of national, regional, and local economies around
the world by strengthening the cross-border movement of goods,
technologies, and capital.
International Organization

It promotes voluntary cooperation and

coordination between or among its members.
This organization is categorized either an
intergovernmental or supranational
organization (IGO).
Intergovernmental Organization

It is composed of nation-states that promote

voluntary cooperation and coordination
among its members. Members of IGO do not
surrender any sovereignty to it.
Supranational Organization

Supranational Organization
Which is global or regional, surrender their
power in specific areas to the higher
organization. This is an entity where member
states formed for mutual benefit and in pursuit
of shared goals.
International Non-Government Organization
(INGO)

It is not created by an international treaty or

intergovernmental agreement often focus on a
specific issues around the world. It tries to
help in alleviating problems such as hunger,
disease, illiteracy, and inequalities.
It consists of multinational and
transnationals. These corporation
sell goods and manufactured
products.

It is a commerce enterprise that

operates substantial facilities
that does business in more than
one country.

Also known as global corporation,

is an entity that owns and
controls production of goods or
services in one or more countries
aside from their home country.
 Modern World System
According to Immanuel Wallerstein
(1974), the modern world-system,
essentially capitalist in nature, is a
social system that has boundaries,
structures, member groups, rules of
legitimation, and coherence. World-
system is not new.
These are powerful, wealthy, These are areas that lack
and highly independent and strong central governments
outside control regions. controlled by other states.

The nations lie between the These are regions that

two extremes and served as maintained their own economic
buffers. They are either systems. They managed to
exploiting or exploited. remain outside of the modern
world economy.
 Global Economic Integration

As stated by Kahn (2000), global economic integration is thought to

improve the allocation of natural resources, promote technology transfer,
and enhance living standards. However, it has been frequently blamed for
growing trade imbalances, increased financial marker volatility and less
effective domestic macroeconomic policies.
It is the practice of two or more
countries sitting, meeting, and
discussing together, trying to
overcome the economic crisis and
promote development of it.
Example: North American Free takes place when a foreign firm or
Trade Agreement (NAFTA).
individual establishes business
operations or acquires business assets
which include establishing ownership
and controlling interest in a company
Is the free flow of trade between countries
around the world. The removal of trade in another country.
barriers such as tariffs and taxes on goods
and services is being emphasized by this
factor. Example: Philippine Economic Zone
Authority (PEZA) in the Philippines where the
Board of Investments offer tax incentives to
attract foreign investors.
It was in 1944 that the Bretton Woods System was inaugurated
during the United Nations Monetary and Financial Conference.
According to (Claudio, 2018), governments have to revitalize
markets with infusions of capital.
International financial institution (IFI) is a financial institution that has
been established by more than one country, and hence is subject to
international law. The international monetary fund (IMF) was created in
1945 the IMF was based in Washington D.C. and currently consists of 189
member countries. It is an international organization that aims to promote
global economic growth and financial stability to encourage international
trade and reduce poverty. Structural adjustment programs are required
when granting loans. These are known as conditional loans.
•International Bank for Reconstruction and Development (IBRD)
• International Development Association (IDA)
• International Finance Corporation (IFC)
• Multilateral Investment Guarantee Agency (MIGA)
• and International Centre for Settlement of Investment Disputes (ICSID)
It is the largest and well-known bank in the world that is focused on
granting loans and assistance to developing countries. Twenty-three
nations signed with an agreement known as the General Agreement
on Tariffs and Trade (GATT) to further eliminate all restrictions on the
use of its currency for international trade.
The World Trade Organization, which has 164 members and 23 observer
governments, deals with the global rules of trade between states and
nations. Its main function is to ensure smooth, predictable, and free trade
flows as possible. While GATT is focused on trades in goods, WTO is also
responsible for the increasingly important trade in services.
A global corporation, also known as a This is a corporation that has assets

global company, is coined from the and facilities in one or more

base term ‘global’, which means all countries, other than the home

around the world. country, and has a centralized office

where global management is
coordinated.

-These are corporations which operate in other

countries, other than the home country, and do

not have a centralized management system.

Transnational companies are also not loyal to

the operating country’s value system, but are

focused on business expansion.

 -When a person works hard for relatively little money, this is referred
to as cheap labor.

-Is one of the strategies implemented by most countries to attract

more foreign businesses to invest in their countries.
-Is one of the advantages of global corporation, it can operate in
countries where labor is not expensive.
Have a great day ahead.

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