Chapter 1:
a. Regional and international
Definition of Globalization
- Globalization is comprised of
multiple sameness and interconnected
that go beyond the nation-states.
(McGrew 1990)
- Globalization means the onset of the
borderless world. (Ohmae 1992)
- Globalization is a world in which
societies, cultures, politics and
economics have, in some sense, come
closer together.
- Globalization is the intensification of
economic, political, social and
cultural relations across borders.
GLOBALIZATION IS ALSO DEFINED
DIFFERENTLY DEPENDING ON
SOMEONE ELSE’S EXPERTISE,
EXPERIENCE, AND PERSPECTIVE.
Four Attributes of Globalization
1. Globalization occurs worldwide.
a. Every person is a global
citizen because he/she thinks
about the issues of the world.
b. Think about the world.
c. Associate ourselves with
global trends.
d. Sense of responsibility
2. Intensification and acceleration of
social exchanges and activities.
a. Door-to-door mail delivery to
FB messages – IG, Snapchat,
Twitter
b. Live TV telecast
c. Travel capacities brought
about by low airfares.
3. Expansion and stretching of social
relations.
GLOBALIZATION
non-governmental organizations
(NGOs)
b. Government associations
c. Multinational companies
4. Various forms of connectivity
a. They are diverse (economic,
political, cultural, etc)
The Globalization of World Economics
DEFINITION OF TERMS:
a. Economic globalization – expanding
interdependence of world economies.
b. Global corporations – companies
which has expanded outside their
home countries
c. Global governance – the totality of
norms, laws, policies and bodies that
defines, comprise, and facilitate
transnational relations between
citizens, states, cultures,
intergovernmental, non-governmental
organizations.
d. Globalism – an attitude that seeks to
understand all the interconnections of
the modern world and to highlight the
patterns that underlie them.
e. Global interstate system – seeks to
form collaboration among nation-
states through the establishment of
intergovernmental organizations.
f. Globalization – the expansion and
intensification of social relations and
consciousness across world time and
world space.
g. Intergovernmental organizations
(IGOs) – facilitators of connections
among nation-states
h. Internationalism – a practice of
interdependent collaboration
i. Nation-state – a political community
that emanates from civic society to
legitimately execute peace.
 Chapter 1:
GLOBALIZATION IS A
MULTIDIMENSIONAL PHENOMENON,
CREATING ECONOMIC, POLITICAL,
CULTURAL, AND EVEN
TECHNOLOGICAL FORMS OF
CONNECTIVITY.
Economic Globalization refers to
the expanding interdependence of world
economies. Attributes this to the growing
scale of cross -border trade commodities and
services, flow of international capital, and
wide and rapid spread of technology.
In the Philippines, cross-border
trading can be best illustrated by the country’s
trading partnership with China, the United
States, and Australia. Moreover, the flow of
international capital can be observed in
foreign direct Investments (fdi), a type of
investment in which a company establishes a
business in another country for production of
goods or services and still takes part in the
management of that business.
A good example of this is Toyota
Motor Philippines corporation which is a
subsidiary of Toyota Motor Philippines
corporation based in Toyota, Japan. This flow
of international capital can also be observed
in foreign portfolio investments, trade flows,
external assistance and external commercial
borrowings, and private loan flows.
International monetary fund – it is an
organization of 190 countries, working to
foster global monetary cooperation, secure
financial stability, facilitate international
trade, promote high employment and
sustainable economic growth, and reduce
poverty around the world. Imf has three
critical mission:
1. Furthering international monetary
cooperation.
GLOBALIZATION
2. Encouraging the expansion of trade
and economic Growth, and
3. Discouraging policies that would
harm prosperity.
IMF defined economic globalization as a
Historical process representing the result of
Human innovation and technological
progress. “it refers to the services increasing
integration of economies around the world,
particularly through the movement of goods,
and capital across borders.” (IMF. 2008)
Economic globalization can be traced
from the time when there was economic
movement in Asia, Africa, and Europe
through the silk road – “The oldest known
International trade route” “ A network of
pathways in the ancient world that spanned
from China to what is now the middle east
and to Europe.
It was called silk road because one of
the most profitable products traded through
this network was silk. Traders used the silk
road regularly from 130 BCE when the
Chinese han dynasty opened trade to the west
until 1453 BCE when the ottoman empire
closed it.
According to historians Dennis o.
Flynn and Arturo Giraldez, the age of
globalization began when “all important
populated continents began to exchange
products continuously – both with each other
directly and indirectly via other continents –
and in values sufficient to generate crucial
impacts on all trading partners.”
Flynn and Giraldez trace this back to
1571 with the establishment of the Galleon
trade that connected that manila in the
Philippines and Acapulco, Mexico. This was
the first —time that the Americas were
directly connected to Asian trading routes.