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Globalization: Lesson 1 Mr. Jherome Sarona, LPT
Globalization: Lesson 1 Mr. Jherome Sarona, LPT
LESSON 1
Mr. Jherome Sarona, LPT
WHAT IS GLOBALIZATION???
Greater economic, cultural, political, and technological interdependence
among national institutions and economies. (Wild\Wil\Han).
It is the process of trade, communication, and cultural exchange in which it
promotes wealth of all nations that increase growth in the economy.
A term used to describe the changes in societies and the world economy that
are the result of dramatically increased trade and cultural exchange.
Globalization is a word used to describe the growing interdependence of the
world’s economies, cultures, and populations, brought about by cross border
trade in goods and services, technology, and flows of investment, people, and
information.
GLOBALIZATION HAS VARIOUS ASPECTS
WHICH AFFECT THE WORLD IN
SEVERAL DIFFERENT WAYS. THESE
ASPECTS INCLUDE:
Industrial globalization – development of worldwide production markets and
broader access to a range of foreign products for consumers and companies
involving particularly movement of material and goods between and within
national boundaries.
Financial globalization – development of worldwide financial markets and
better economy
Economic globalization – establishment of a global common market, based on
the freedom of exchange of goods and capital.
Political globalization - creation of international organizations to regulate the
relationships among governments and to guarantee the rights arising from
social and economic globalization.
GLOBALIZATION HAS VARIOUS ASPECTS
WHICH AFFECT THE WORLD IN
SEVERAL DIFFERENT WAYS. THESE
ASPECTS INCLUDE:
Informational globalization – increase in information flows
between geographically remote locations. (This can also be seen as
a technological change related to the advent of fibre optic
communications, satellites, and increased availability of telephone
and Internet.)
Cultural globalization - sharing of ideas, attitudes and values
across national borders. This sharing generally leads to an
interconnectedness and interaction between peoples of diverse
cultures and ways of life. Mass media and communication
technologies are the primary instruments for cultural globalization.
ELEMENTS OF
GLOBALIZATION
Anderson and VAN Wincoop (2002) enumerated the different elements of globalization:
1. Trade Agreements- bilateral, regional or multilateral economic arrangements designed to
reduce or eliminate trade barriers.
2. Capital Flow- measurement of increase or decrease in a nation’s domestic or foreign assets.
3. Migration Patterns- impact of labor market fluidity on production costs through the loss
(emigration) or gain (immigration) of potential workers especially those with particular
skills.
4. Information Transfer- communication trend that helps mitigate the asymmetric
functioning of markets and economies.
5. Spread Technology- rapid diversion of the means and methods of producing goods and
services.
TRENDS IN GLOBALIZATION
ECONOMIC GLOBALIZATION
• It is a historical process, a result of human innovation and
technological process. It refers to the increasing integration of
economies around the world, particularly through the movement of
goods, services, and capital across borders. It may also refer to the
movement of people (labor) and knowledge (technology) across
international borders (IMF, 2008).
THE STRUCTURES OF GLOBALIZATION
THE GLOBAL ECONOMY
GLOBAL
STRATIFICATION
• It refers to the hierarchical
arrangements of
individuals and groups in
societies around the
world.
THE STRUCTURES OF GLOBALIZATION
THE GLOBAL ECONOMY
Mode of Submission:
• PDF format
• Cite your references
LESSON 4
Intended Learning Outcomes (ILOs):
1. Economic Interdependence
A relationship between countries in which each
country is dependent on another for necessary
goods or services (Surugui and Surugui, 2015).
GLOBAL INTERSTATE SYSTEM
2. Economic Integration
A process whereby countries cooperate with one
another to reduce or eliminate barriers to the
international flow of products, people and
capital.
GLOBAL INTERSTATE SYSTEM
3. Political Integration
Itrefers to the integration of components within
political system.
The integration of political system with economic,
social, and other human system; the political
process by which social, economic and political
become integrated.
GLOBAL INTERSTATE
SYSTEM