BNF THE CONTEMPORARY WORLD 1ST SEMESTER

Vocabulary flashcards covering key globalization concepts, definitions, and examples from the lecture notes.

Globalization

The intensification and expansion of social relations and consciousness across world-time and world-space, including the integration of markets, politics, values, and the environment across borders.

Globalism

A state of the world involving networks of interdependence at multicontinental distances, linked by flows of capital, goods, information, people, and ideas.

Globality

A social condition with tight economic, political, cultural, and environmental interconnections that makes borders seemingly irrelevant.

Interdependence

Mutual dependence and reciprocity between states or actors, where each relies on the other for well-being.

Global governance

Collective actions and institutions designed to address global issues beyond the capacity of any one state.

International regimes

Patterns of cooperation and norms that regulate the behavior of states across common issues.

Multilateral institutions (IGOs)

Organizations composed of multiple states (e.g., UN, EU, OAS) that pursue common objectives.

Hyperglobalizers

View globalization as profoundly transforming the international system, often eroding sovereignty.

Transformationalists

See globalization as significant and ongoing, but not uniformly revolutionary; patterns are changing.

Weak globalizers

Agree there are changes, but argue globalization is not as sweeping as hyperglobalizers claim.

Skeptics/Rejectionists

Argue globalization is largely a myth; sovereign states remain dominant and differences persist.

Economic globalization

Intercontinental exchange of goods, services, and labor and the organization of related processes.

Financial globalization

Deepening/expansion of global finance, including consolidation of banks, online banking, and cross-border capital flows.

Military globalization

Long-distance networks of force, alliances, and security regimes influencing global power dynamics.

Environmental globalization

Transboundary environmental issues and the global dispersion of ecological effects (e.g., climate change, pollution).

Social and cultural globalism

Movement of ideas, information, and people; diffusion of cultures and practices; isomorphism in some cases.

Political globalization

Spread of international regimes and influence of nonstate political actors; policy interdependence.

Cultural globalization

Exchange of foods, ideas, and practices; impact on identity, nationalism, and societal values.

Thick globalization

Intensive and extensive long-distance interconnections affecting many people’s lives.

Thin globalization

Earlier, lighter linkages with narrower effects; less pervasive cross-border interdependence.

Jus sanguinis

Citizenship determined by one’s parents (law of blood), regardless of birthplace.

Jus soli

Citizenship determined by birthplace; born in the country confers citizenship.

Privatization

Transfer of government services and assets to private sector control.

Deregulation

Reduction/elimination of government oversight in an industry.

Fiscal austerity

Policy measures to reduce government spending and/or raise taxes to cut deficits or debt.

Free trade (GATT/WTO)

Trade rules that prevent unilateral tariff increases or quota changes; governed by GATT and the WTO.

Bretton Woods System

Post-World War II fixed exchange-rate framework with the dollar as anchor and creation of IMF and World Bank.

IMF

International Monetary Fund; supports global monetary stability and short-term liquidity for economies in need.

World Bank (IBRD)

International Bank for Reconstruction and Development; provides development loans and funding.

Sakada

Filipino migrant sugar workers who went to Hawaii in the early 20th century.

Isomorphism

Imitation of other societies’ practices and institutions within globalization.

Global village

Idea that global communications shrink distances, creating a sense of shared global community.

Periods of globalization – First Period

Ancient globalization: globalization is as old as civilization, via trade, migration, conquest.

Periods of globalization – Second Period

Western European conquest and spread of capitalism to Asia, Latin America, Africa; dependency-oriented politics.

Periods of globalization – Third Period (1870–1914)

Technological breakthroughs, mass production, global primary commodity trade, and mass migration.

Periods of globalization – Fourth Period (1945–1980)

Postwar cooperation; removal of some trade barriers; establishment of Bretton Woods institutions; mixed development.

Periods of globalization – Fifth Period (current)

Unprecedented interdependence with powerful non-state actors and new globalization dynamics.

Love Bug virus

A May 2000 computer worm illustrating the rapid spread of digital globalization and interconnected networks.

Nassar’s causes of globalization

Religion, technology, economy, and empire drive globalization; power and wealth as root forces; enduring hegemony.

Payne’s causes of globalization

Migration; advances in military and medical technologies; financial market expansion; communications revolution.

Legrain’s view on globalization

Globalization is generally good with opportunities for all; emphasis on making globalization work better through wise choices.