Umangay, Alexander John N.

BSEE 1C CONTEWORLD

1. Market Integration- a situation in which separate markets for the same product become one
single market, for example when an import tax in one of the markets is removed: It has long
been recognized that market integration is far more efficient than firm integration.
2. Internal Financial Institution- is a financial institution that has been established (or
chartered) by more than one country, and hence is subject to international law. Its owners or
shareholders are generally national governments, although other international institutions and
other organizations occasionally figure as shareholders.
3. History of Global Market Integration- Global market integration means that price
differences between countries are eliminated. as all markets become one. One way to the
progress of globalization is to look at trends how. prices converge or become similar across
countries.
4. The Global Interstate System- It is the whole system of human interactions. The modern
world-system is structured politically. as an interstate system – a system of competing and allying
states. Political Scientists commonly. call this the international system, and it is the main focus of
the field of International Relations.
5. Global Governance- Global governance refers to institutions that coordinate the behavior of
transnational actors, facilitate cooperation, resolve disputes, and alleviate collective action
problems. Global governance broadly entails making, monitoring, and enforcing rules.
6. Effects of Globalization to Governments- Globalization changes the way nations,
businesses and people interact. Specifically, it changes the nature of economic activity among
nations, expanding trade, opening global supply chains and providing access to natural
resources and labor markets. According to the disciplining hypothesis, globalization restrains
governments by inducing increased budgetary pressure. As a consequence, governments shift
their expenditures in favor of transfers and subsidies and away from capital expenditures.
7. Global Economics- The study of the way in which economies in all parts of the world operate
together: World leaders met to discuss global economics at the G20 Summit in Toronto. The
University global economics course is designed for students in economics, business, and
international relations.
8. Global Social Movement- Refer to those collective actions that bring the people together
from around world to advance their shared agendas and consolidate their efforts.
9. The Relevance of the state amid Globalization- The role of the nation-state in a global
world is largely a regulatory one as the chief factor in global interdependence. While the
domestic role of the nation-state remains largely unchanged, states that were previously isolated
are now forced to engage with one another to set international commerce policies.
10. Institution that Govern International Relations- The foreign relations of the Philippines
are administered by the President of the Philippines and the Department of Foreign Affairs.
Philippine international affairs are influenced by ties to its Southeast Asian neighbors, China, the
United States, and the Middle East.
11. Globalization and Globalism- Globalization involves increasing interconnection between
people and regions throughout the world, while globalism is the ideological component of
globalization. shrinking of distance on a large scale.
12. Global Citizenship- Global citizenship is the umbrella term for social, political, environmental,
and economic actions of globally minded individuals and communities on a worldwide scale.