The Structures of Globalization

Vocabulary flashcards covering key concepts from the lecture notes on globalization structures.

Global Economy

The interconnected global system of trade, production, and finance across national borders.

Trade Liberalization

Removal or reduction of barriers (tariffs, quotas, restrictions) to promote free exchange of goods and services.

Global Value Chains

International dispersion of production tasks across countries, enabling specialization through interconnected stages.

Financialization

Growing influence of financial markets and motives in the economy, often at the expense of long-term productive activity.

Market Integration

Diffusion of economic activity across borders, with borderless markets enabled by technology and platforms.

Technological Innovations

Break down geographical barriers and enable instant communication and transactions, lowering costs and expanding market access.

Cultural Convergence

Spread of standardized products and global consumer cultures.

Cultural Divergence

Preservation of cultural diversity and niche markets within global markets.

Income Disparities

Variations in purchasing power and access to goods, which can be widened by integration but also create growth opportunities.

International Financial Institutions (IFIs)

Institutions established by multiple countries to provide financial aid; not charities; loans typically require repayment with interest.

World Bank (WB)

International financial institution that provides development loans and grants to support infrastructure and growth.

International Monetary Fund (IMF)

Global financial institution that provides policy advice and financial support to maintain monetary stability.

World Trade Organization (WTO)

International body that regulates and facilitates multilateral trade agreements.

Asian Development Bank (ADB)

Regional development bank offering financial and technical assistance in Asia-Pacific.

The Global Interstate System

Political framework of interactions among states defined by alliances, treaties, and power relations.

Internationalism

Cooperation among nations across political, economic, and cultural domains to address common goals.

Globalism

Ideology that the flow of people, goods, and information should move freely across borders.

Power Dynamics

Influence and interactions among states that shape diplomacy, security, and resource distribution.

Security Challenges

Threats such as terrorism, cyberattacks, and regional conflicts that affect foreign policy and security strategies.

Regionalism vs. Globalism

Regionalism promotes cooperation within geographic areas; globalism advocates broader transnational collaboration.

Contemporary Global Governance

Collective efforts by states, international organizations, and non-state actors to address transnational challenges.

Multilateralism

Cooperation among many actors and states to address shared challenges.

Unilateralism

Actions by a single state without coordinating with others; may undermine global governance.

Global Commons

Shared resources such as the atmosphere, oceans, and outer space requiring international governance.

Humanitarian Intervention and R2P

Norms guiding interventions to prevent mass atrocities and protect vulnerable populations, balancing sovereignty and humanitarian concerns.