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Contemporary
| Question | Answer |
|---|---|
| Module 1: Definitions & Attributes | |
| What is Globalization? | The process where people, ideas, and goods spread globally, fostering integration among cultures and economies. |
| IMF definition of Globalization (International Monetary Fund) | The growing economic interdependence of countries through increasing volume and variety of cross-border transactions. |
| Creation and Multiplication of Social Networks | A characteristic where globalization creates new connections across traditional boundaries (e.g., Brazilian World Cup media). |
| Expansion and Stretching of Social Relations | Social activities extending globally, transcending national borders (e.g., 24-hour financial markets). |
| Intensification and Acceleration of Social Exchanges | The increased pace and scope of social activities intensified by the internet and social media. |
| Involvement of Human Consciousness | Globalization's subjective impact on shaping individual and collective identities. |
| Module 2: Historical Periods | |
| Prehistoric Period (10000 BCE–3500 BCE) | Limited geographic contact among hunter-gatherers due to a lack of advanced technology. |
| Pre-modern Period (3500 BCE–1500 CE) | The invention of writing and the wheel facilitated the spread of ideas and goods. |
| Early Modern Period (1500–1750) | The Enlightenment and Renaissance periods saw the beginnings of a capitalist world system. |
| Modern Period (1750–1970) | Innovations in transportation and industrialization led to greater cultural exchanges. |
| Contemporary Period (1970–Present) | Rapid expansion of worldwide interdependencies driven by technological advancement. |
| Module 3: Dimensions & Ideologies | |
| Economic Dimension | The development of global economic relations influenced by technology and capital flows (e.g., IMF). |
| Political Dimension | Strengthening global political interrelations that impact state sovereignty (e.g., Global cities like NY and Tokyo). |
| Cultural Dimension | The increase in cultural flows and blending of global/local cultures (e.g., Disney’s influence). |
| Religious Dimension | Religion’s role in globalization, often leading to ideological movements or conflicts (e.g., Jihadist globalism). |
| Market Liberalization and Integration Claim | The globalist argument that globalization is driven by technology and state policies to integrate markets. |
| Inevitability and Irreversibility Claim | The claim that globalization is an unstoppable process that requires adaptation to market disciplines. |
| Decentralized Control Claim | The assertion that no single entity is in charge, used to depoliticize debates and neutralize opposition. |
| Universal Benefits Claim | The argument that globalization benefits everyone through efficiency, despite unequal opportunities. |
| Promotion of Democracy Claim | The globalist link between free markets and democratic governance. |
| Module 4: The Global Economy | |
| Economic Globalization | The increasing interdependence of world economies through the flow of goods, capital, and people. |
| Driving Force: Information and Technology | The rapid dissemination of tech that enables swift global communication and coordination. |
| Driving Force: Marketization | The transformation of state enterprises into market-oriented firms (privatization/decentralization). |
| Trade Globalization | International exchange of goods (e.g., consumer electronics trade between US and China). |
| Financial and Capital Markets Globalization | The integration of international financial hubs like New York, Tokyo, and London. |
| Technology and Communication Globalization | The global spread of innovations, with the internet as a prime example. |
| Production Globalization | The transnational distribution of processes (e.g., Apple designing in the US and manufacturing in China). |
| Globalization vs. Internationalization | Globalization is qualitative functional integration; Internationalization is quantitative extension across borders. |
| General Electric (GE) | A U.S. conglomerate influencing global industries like aviation and healthcare. |
| Coca-Cola | An iconic beverage company with a global footprint, headquartered in Atlanta. |
| Nike | A company that designs in the U.S. but outsources manufacturing to various Asian countries. |
| Module 5: Monetary Systems & European Integration | |
| Silk Road | An ancient trade route connecting China, the Middle East, and Europe; an early example of globalization. |
| Gold Standard (1870–1914) | System where currencies were backed by gold, facilitating stable, non-inflationary trade. |
| Bretton Woods System (1944–1971) | Post-WWII system with the U.S. dollar pegged to gold; collapsed due to inflation and trade deficits. |
| Floating Exchange Rate System (Post-1973) | A market-based system where currency values are determined by market forces. |
| European Monetary System (EMS) 1979 | Aim to stabilize inflation and stop exchange rate fluctuations by linking European currencies. |
| European Economic and Monetary Union (EMU) 1998-1999 | The creation of the ECB and the introduction of the Euro as a unified currency. |
| Benefits of the EMU | Increased trade, integrated economies, and macroeconomic stability/price stability. |
| Challenges of the EMU | Macroeconomic imbalances and banking/sovereign crises caused by imprudent fiscal policies. |
| European Financial Stability Mechanism (EFSM) | Emergency assistance for member states guaranteed by the EU budget. |
| European Financial Stability Facility (EFSF) | A special purpose vehicle that raises money to recapitalize lending institutions. |
| European Stability Mechanism (ESM) 2013 | The permanent fund established to replace temporary mechanisms and ensure Eurozone stability |
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