CONTEMPORARY WORLD

SOC. SCIE 222

CONTEMPORARY WORLD - THE CIRCUMSTANCES AND IDEAS OF THE
PRESENT AGE
GLOBALIZATION

1. IS DEFINED AS AN INCREASING INTERDEPENDENCE OF NATIONAL ECONOMIES

IN TRADE, FINANCE, AND MACROECONOMIC POLICY.
2. DIFFUSION OF PRACTICES, VALUES AND TECHNOLOGY THAT HAVE AN
INFLUENCE ON PEOPLES LIVES WORLDWIDE.
3. A RECONFIGURATION OF SOCIAL GEOGRAPHY MARKED BY THE GROWTH OF
TRANSPLANETARY AND SUPRTERRETORIAL CONNECTIONS BETWEEN PEOPLE.
4. TIME AND SPACE IS SQUEEZED TOGETHER BY MEANS OF DIGITAL TECHNOLOGY
AND QUICK TRANSPORTATION.
STRUCTURE OF GLOBALIZATION

 1. SOCIAL- A MEASURE OF HOW EASILY INFORMATION AND IDEAS PASS BETWEEN

PEOPLE IN THEIR OWN COUNTRIES IT INCLUDES ACCESS TO INTERNET AND
SOCIAL MEDIA NETWORKS.

 2. POLITICAL – THE AMOUNT OF POLITICAL CO-OPERATION THERE BETWEEN

COUNTRIES.

 3.ECONOMICS - COUNTRIES THAT TRADE WITH MANY OTHERS AND FEW TRADE
BARRIERS ARE ECONOMICALLY GLOBALIZED.
GLOBAL AND WORLD ECONOMY

 THIS TERM REFERS TO THE INTERNATIONAL EXCHANGE OF GOODS AND

SERVICES THAT IS EXPRESSED IN MONETARY UNITS OF MONEY. IT MAY ALSO MEN
AS THE FREE MOVEMENT OF GOODS , CAPITAL, SERVICES, TECHNOLOGY AND
INFORMATION.
MARKET INTEGRATION

 WHEN PRICES AMONG DIFFERENT LOCATION OR RELATED GOODS FOLLOW THE

SAME PATTERNS OVER A LONG PERIOD OF TIME. SIMILARLY WHEN GROUPS OF
PRICES OF PRICES OFTEN MORE PROPORTIONALLY TO EACH OTHER AND WHEN
THIS RELATION IS VERY CLEAR AMONG DIFFERENT MARKETS IT IS SAID THAT THE
MARKETS ARE INTEGRATED.
THE INTERNATIONAL FINANCIAL INSTITUTION (IFI)

1. INTERNATIONAL MONETARY FUND (IMF)

2. MULTILATERAL DEVELOPMENT BANK (MDBS)
A. WORLD BANK GROUP
B. AFRICAN DEVELOPMENT BANK
C.ASIAN DEVELOPMENT BANK
D. INTER-AMERICAN DEVELOPMENT BANK
E. EUROPIAN BANK
MEMBERSHIP COMPOSITION OF IFI

1. ONLY SOVEREIGN COUNTRIES ARE ADMITTED AS MEMBER OWNER

2.BROAD COUNTRY MEMBERSHIP TO INCLUDE BORROWING DEVELOPING COUNTRIES AND DEVELOP DONOR COUNTRIES.
3.MEMBERSHIP IN REGIONAL DEVELOPMENT BANKS INCLUDE COUNTRIES AROUND THE WORLD AS MEMBER
MAIN OBJECTIVE:

1. PROVIDES TEMPORARY FINANCIAL ASSISTANCE TO MEMBER COUNTRIES TO HELP EASE BALANCE OF PAYMENTS ADJUSTMENTS.
2. PROVIDE FINANCING FOR DEVELOPMENT TO DEVELOPING COUNTRIES THROUGH THE FOLLOWING:
 A. LONG TERM LOANS – WITH MATURITY UP TO 20 YEARS WITH INTEREST RATES WAY BELOW MARKET RATES . FUNDING COMES FROM INTERNATIONAL CAPITAL
MARKET.
B. VERY LONG TERM – WITH MATURITYB OF 30-40 YEARS WITH INTEREST RATES WAY BELOW MARKET RATES. FUNDING COMES FROM DIRECT CONTRIBUTION
BY GOVERNMENT IN THE DONOR COUNTRY.
THANK YOU!!!!!