CONTEMPO MIDTERMS CHAP 1

Globalization

The process in which people, ideas, and goods spread throughout the world, increasing interaction and integration between cultures, governments, and economies.

International Trade and Investment

Driver of globalization and is aided by information technology

Information Technology

Aids international trade and investment in driving globalization

IMF

Stated that globalization is the growing economic interdependence of countries worldwide through increasing cross-border transactions and rapid diffusion of technology

International Monetary Fund

Meaning of IMF

Steger

Stated that globalization is an expansion and intensification of social relations and consciousness across world time and space.

Multi-dimensional

A definition of globalization that means the involvement of economic, political, technological, cultural, religious, and ecological dimensions.

• Creation of new social networks and the multiplication of existing connections that cut across traditional political, economic, cultural, and geographical boundaries.

• Expansion or stretching of social relations, activities, and interdependencies.

• Intensification and acceleration of social exchanges and activities.

• It occurs at both the material and subjective levels of human consciousness.

Attributes/Qualities/Characteristics of Globalization

Prehistoric, Pre-modern, Early modern, Modern, Contemporary

Historical Periods of Globalization

10000 BCE to 3500 BCE

Prehistoric Period

Prehistoric Period

Hunters and gatherers; limited technology and contact.

3500 BCE to 1500 CE

Pre-modern Period

Pre-modern Period

Invention of writing and the wheel; improved communication and transport

1500 to 1750

Early Modern Period

Early Modern Period

Enlightenment and Renaissance; emergence of modern states and capitalism.

1750 to 1970

Modern Period

Modern Period

Industrialization, migration, technological innovation.

1970 to present

Contemporary Period

Contemporary Period

Acceleration of worldwide interdependencies.

Economic, Political, Cultural, Religious, Ideological

Dimensions of Globalization

Economic

Dimension of Globalization showing the development of worldwide economic relations; transnational corporations, IMF, World Bank, WTO.

Political

Dimension of Globalization showing the widening and strengthening of political interrelations.

Cultural

Dimension of globalization showing the movement and exchange of cultural ideas and practices.

Religion

A defining element of civilizations

Regligious

Dimension of globalization that shows a defining element of civilizations and concerns about spirituality and faith

Ideological

Dimension of globalization the shows a system of shared ideas, beliefs, and values that justify political, moral, and social interests.

Globalism

ideology giving neoliberal meaning to globalization.