TCW

Globalization

The process of increasing interaction and integration among people, companies, and governments worldwide.

Global Trade

Countries trade goods and services with one another more easily, allowing products made in one country to be sold worldwide.

Investment Across Borders

Companies from one country invest in businesses or projects in another country to expand their operations globally.

Job Opportunities

Globalization creates jobs in different countries, as companies outsource work or build factories in places where labor is cheaper.

Flow of Money/Financial Flows

Money moves quickly across countries through international banks, stock markets, and financial investments.

Global Competition

Businesses compete internationally, which can lead to better products and lower prices for consumers.

State Sovereignty

The state's ability to govern itself independently without external interference.

Intergovernmental Organizations (IGOs)

Groups formed by multiple countries working together for common goals, like peace, trade, or health.

Nongovernmental Organizations (NGOs)

Private organizations that help with social issues like education, human rights, or disaster relief.

Multinational Corporations (MNCs)

Big companies that do business in many countries, producing goods and creating jobs worldwide.

Collective Goods Problem

The issue that arises when a benefit is available to all, but individuals do not contribute towards its provision.

ACR Approach

Awareness, Choice, and Responsibility - a framework for understanding global interconnectedness.

Economic Globalization

A historical process driven by human innovation that leads to increased integration of economies worldwide.

Net Exports

The difference between a country's total exports and total imports.

McDonaldization

The process by which consumer habits become similar across the globe due to global brands.

World Economic Forum

An organization that highlights trends in economic globalization and international trade.

Technology and Global Integration

The role of technology in facilitating faster economic connections and greater diversity in products.

Migration

The movement of people across countries for work, safety, or better opportunities.

Global Security

The interconnected nature of the world, wherein conflicts in one region affect security in others.

Economic Integration

The process by which countries reduce trade barriers and increase economic cooperation.

Political Globalization

The spread of political ideas and norms across the world, influencing governance and policy.

Cultural Homogenization

The process where local cultures become more similar due to globalization.

Trade Liberalization

The removal or reduction of trade restrictions, allowing for a freer exchange of goods and services.

Regional Trade Agreements

Treaties between countries in a specific region to facilitate trade and economic cooperation.

Global Value Chains

The full range of activities that firms engage in to bring a product from conception to delivery.

Development Assistance

Support provided by governments and organizations to promote economic development in poorer countries.

Impact of Globalization on Local Markets

The influence that global trends and companies impose on local economies and industries.

Global Governance

The way international affairs are managed across countries through institutions and regulations.

Crisis and Economic Globalization

How global crises, such as financial or health crises, can impact economies worldwide.

Access to Technology

Countries share and adopt technologies, improving industries and making production faster and more efficient.

Economic Growth

Globalization can help economies grow by opening up new markets and attracting international investments.

Weaker Government Control

As markets expand globally, national governments have less control over their own economies.

State Sovereignty Concerns

Concerns about maintaining the power of governments to govern effectively amidst globalization.

Kenichi Ohmae’s Perspective

Ohmae argued that we are moving towards a 'borderless world' where national borders no longer define economic and political interactions.

Cultural Globalization

The development of a network of cultural interconnections that influence societies and identities globally.

Migration

The movement of people across countries for work or better opportunities leading to cultural exchanges.

Media Influence

Media spreads cultural ideas and values worldwide, shaping identities and experiences across different cultures.

Cybercrime

Internet-related crimes that cross borders and threaten safety and cultural norms, requiring global cooperation.

Climate Change and Environmental Sustainability

Global environmental issues that require cooperation among different cultures to protect the planet.

Gender Equality

Global advocacy for women's rights and equality, challenging cultural norms and pushing for change worldwide.

International System

The set of relationships among states structured according to certain rules and patterns of interaction.

Essential Elements of a State

People, territory, government, and sovereignty are essential for a state to function and exist.

Recognition by Other States

A state must be accepted by other countries to fully exist in the international system.

Principal Actors in International Relations

States are key actors in making decisions, creating laws, and interacting with others through diplomacy and trade.