Intro to Globalization: Topic 1

Globalization

The process making the world's citizens increasingly interconnected and interdependent.

Global Village

The idea that the world is closely connected and people are like neighbors.

Supranational

Existing above national governments, involving multiple countries or agreements.

Sovereignty

The power of a country to govern itself without interference from other nations.

Individual Identity

The traits, values, name, and beliefs that make up a person's sense of individuality.

Collective Identity

The shared sense of belonging, history, and common characteristics uniting a group.

Developed Nation

A country with a high standard of living, advanced infrastructure, and a strong economy.

Developing Nation

A country with lower living standards, less advanced infrastructure, and a developing economy.

Exporting

Selling goods and services that a country makes to other countries.

Importing

Buying goods and services from other countries.

Trade

The exchange of goods and services between or within countries.

Transnational Corporations

Big companies that operate and manufacture products in many countries.

Outsourcing

When a company hires another company, typically abroad, to do some of its work.

Media Convergence

When different types of media come together on a single device like a smartphone.

Media Concentration

When a few big companies own a large number of media outlets.

Criteria for Globalized

Involves multiple countries, multifaceted interdependence, and supranational implications.

Social Dimension of Globalization

The transfer of culture, societal norms, and impacts on identity across borders.

Economic Dimension of Globalization

International trade, global supply chains, economic development, and TNC operations.

Political Dimension of Globalization

Impact on political decision-making, international agreements, and global movements.

Environmental Dimension of Globalization

Increased CO2 emissions from transport, habitat destruction, and global environmental awareness.

Banana Trade Case Study

Bananas travel over 5,000 km to Canada from developing nations, demonstrating all globalization dimensions.

Banana Republic

A country overly dependent on the banana trade, historically controlled by U.S. companies.

Four Forces of Globalization

Trade, Transportation, Communications Technology, and Media.

Force One: Trade

Buying and selling goods and services; a powerful force driving economic globalization.

Force Two: Transportation

Advancements like containerization and cargo ships that quicken globalization and reduce costs.

Containerization

Using standardized shipping containers to simplify logistics and reduce transport costs.

Force Three: Communications Technology

Internet, broadband, and cell phones allowing geographically dispersed workers to collaborate instantly.

Force Four: Media

International news, TV, and streaming that drive cultural exchange and information flow.

Walmart in Canada

Arrived in 1994, expanding to hundreds of stores as an example of global consumerism.

Positives of Transnational Corporations

Provide training and jobs in countries that may otherwise lack work.

Criticisms of Transnational Corporations

Low-level jobs, unfair wages, and profits flowing back to headquarters.

Benefits of Outsourcing

Lower production costs leading to greater corporate profits and cheaper consumer prices.

Homogenization

The process where local culture becomes more similar to U.S. culture due to global media spread.

Heterogenization

When aspects of global culture exist alongside local culture, making it more diverse.

World Wide Web Impact

Invented in the 1990s, it revolutionized access to information and enabled global digital connectivity.