Think of vocabulary words that can be connected to the given word.

Using this Concept Cluster, give

your own definition of
Globalization.

GLOBALIZATION
“Globalization” is a catchphrase familiar to
anyone tuned in to social media. Every day we
hear the term globalization on the news, read
it in the papers, and overhear people talking
about it.
Defining GLOBALIZATION

“Globalization”- complex process that

involves many aspects of life that can be
seen in every corner of society starting
from the basic unit of the society to the
nations of the world.
Defining GLOBALIZATION nowadays

“Globalization”- primarily an economic process that

affects the integration of national products to the
world markets.

- continuing integration of technological processes to

many countries and the uprising of business from the
developed, developing and under develop countries.
Defining GLOBALIZATION generally

“Globalization”- refers to the development of global or worldwide business

activities, competition and markets and the increasing global
interdependence of national economies.

Explained as, the increase in interaction between peoples around the world
that involves the sharing of:
• ideas,
• cultures,
• goods,
• services and
• investment.
Best definition of GLOBALIZATION

Manfred Steger - a professor at the University of Hawaii and a Professor of Global Studies

and Director of the Globalism Research Centre in Australia,
best defined globalization as:

“the expansion and intensification of social relations and consciousness across world-
time and across world-space”

Expansion – is both the creation of new social networks and the multiplication of existing
connections that cut across traditional political, economic, cultural, and geographic
boundaries.

Intensification – refers to the expansion, stretching and acceleration of these networks.

 PHILOSOPHIES OF THE VARYING DEFINITIONS OF GLOBALIZATION by Steger

1. Globalization is about the Liberation and Global Integration of Markets.

- This is anchored in the neo-liberal ideal of self-regulating market as the normative basis for a future
global order.

2. Globalization is Inevitable and Irreversible.

- As said by a market-globalist, globalization reflects the spread of irreversible market forces driven by
technological innovations that make the global integration of national economies inevitable.

3. Nobody is in Charge of Globalism.

- Globalization is not controlled by any individual, any government, any institution.

4. Globalization benefits everyone in the long run.

- This lies at the heart of market globalism which is unpacked on in material terms such as
economic growth and prosperity.

“Economic paradise on earth.” – Steger

5. Globalization Furthers the Spread of Democracy in the World.

- Globalists tend to treat freedom, free markets, free trade and democracy as synonymous terms.

According to Fukuyaman, the “level of economic development resulting from globalization is

conducive to the creation of complex civil societies with a powerful middle class which facilitates
democracy”.
Globalization
– is the process by which the world previously isolated through physical
and technological distance becomes increasingly connected.

- Speed of movement or exchanges not only for humans but also with
the goods, services, capital, technologies, cultural practices all over the
planet.

- Increased interaction between people around the world

 “Humans or People”
- biggest factor in globalization

What are the other factors that paved the way

to connect internationally?
• Free Trade
• Social Movement
• Deregulation
• Liberalization
• Privatization
 When did Globalization start?
International Trading System

• Silk Road (130BC) China to Middle East and Europe

- It is also known as the “economic belt” that traded fruits, vegetables, livestock, grains, leather,
tools, religious objects, precious stones, metals

- Most importantly the trade of culture, language, religious beliefs, philosophy and science

Globalization started the Trade in Asia

• Galleon Trade (1571) Manila to Acapulco

- It brought about economic and cultural exchange and integration of financial markets between
Asia and America
• Gold Standard (1867) UK and USA
- It is a monetary system wherein the value of domestic currencies restricts to a certain amount
of gold
 Competing Conceptions of Globalization

Globalization – “a contested concept” according to Mark Steger

Since its earliest appearance in the 1960s, the term globalization has
been used in both popular and academic literature to describe:
• A progress
• A condition
• A system
• A force
• An age
Such definition covers what the Europe calls as the “four freedoms”:
• Free movement of goods or products
• Services
• Capital or investment
• Persons

European Union – is an agreement in which countries voluntarily decide to

build common governmental institutions to which they delegate some
individual sovereignty so that decisions can be made democratically on a
higher level of common interest for Europe as a whole.
The free movement of goods or products – is facilitated by liberalization or
the abolition of tax on imported goods or what is called “tariff”.

The free movement of capital or investment – is implemented through

deregulation, or the lifting of strict banking and financial regulations aimed
at encouraging investors to invest more and retain their ability to pull out
their investments any time with ease.

The free movement of persons – is achieved through loosening or

abolition of visa restrictions to migration.
Liberalization and Deregulation – economic processes that typically require
special laws and/or policies.

- “Economic rule” – used to help monitor, restrict, check all the transactions
that enters and exits the country.
 Is Globalization a New Phenomenon?

- The early modern period saw the birth of capitalism and regional markets.

Industrial Revolution – massive advances in the technology at the expense of the environment.

Artificial intelligence, robots can affect the environment and a product of this are polluted air and rivers.

Issues on the idea of Globalization

• Migration and Outsourcing of jobs – looking for better job opportunities outside your own country
• Wage Hikes – increase in salaries is minimal to no movement at all, other countries offer high paying jobs
• Privatization of industries and services – there’s no control in the decision of the prices