Interrogating Globalization Flashcards

Vocabulary-style flashcards covering the concepts, types, causes, and major institutions of economic, cultural, and political globalization based on lecture notes.

Economic Globalization

A complex global process of expanding the market economic system all throughout the world, leading to increased interdependence of world economies through enhanced transnational exchange of products, services, technologies, and capital.

Market Economy

The economic system that gives freedom to entrepreneurs to control the productive process to pursue profit.

Cultural Globalization

The increasing contact between people and their cultures, including their ideas, values, and ways of life.

Political Globalization

The enlargement of the international political system and its establishment, where interregional dealings and trade are managed.

International Trading

Economic exchanges and deals between countries enabled by international fiscal payments involving private and central banks.

Foreign Investment Categories

Classified as commercial loans, official flows, or foreign direct investment (FDI).

OFW (Overseas Filipino Workers)

Estimated at $2.3$ million during the period of April-September 2018 according to the PSA.

Migration

The temporary or permanent movement of people from one place to another.

Emigration

The act of leaving one's resident country with the intent to settle elsewhere.

Emigrants

People who leave a country.

Immigration

The international movement of people into a destination country of which they are not natives.

Immigrants

People who enter a country.

International Migration

Occurs when people leave one country or state to settle in another, such as leaving Bangladesh for Canada.

Internal Migration

The movement of people who have changed their residence within a country, such as moving from Sylhet to Dhaka.

Rural-urban Migration

A type of internal migration where large numbers of people leave rural areas to seek jobs in urban areas.

Regional Migration

Movement where people leave certain regions for others to find higher rainfall and better soils.

Seasonal Movements

Temporary migration where people move to lands to grow crops during one season and return to villages after harvest.

Daily Movements

Includes rural-to-rural movement from homesteads to fields or urban-to-urban commuting to workplaces.

Involuntary Migration (Forced Migration)

Movement caused by events which force people to move against their will.

Refugees

People who cross an international boundary to escape persecution during involuntary migration.

Voluntary Migration

Migration by choice for reasons such as retirement, education, or relaxed lifestyles.

Illegal Migration

People entering a country without formal permission, often referred to as illegal aliens, illegal immigrants, or boat people.

Push Factors

Reasons for leaving a location, including climatic disasters, war, poverty, and lack of food.

Pull Factors

Reasons for moving to a new location, including health care, education, peace, money, and city life.

World Bank

Founded in July 1944; functions to facilitate capital investment, fund large-scale projects through loans, and implement Structural Adjustment Policies (SAPs).

International Monetary Fund (IMF)

Founded on December 27, 1945; provides short-term emergency loans and promotes international monetary cooperation and trade.

World Trade Organization (WTO)

Founded on January 1, 1995; creates rules for global trade, aims to reduce tariffs, and encourages countries to deregulate economies.

OECD (Organization for Economic Cooperation and Development)

Formed on April 16, 1948; consists of thirty-five member countries aiming to stimulate economic progress and world trade through policy comparison.

ASEAN (Association of Southeast Asians Nations)

Formed on August 8, 1967; promotes intergovernmental and sociocultural integration among members and other Asian countries.

NAFTA (North American Free Trade Agreement)

Entered into force on January 1, 1994, between Canada, Mexico, and the USA to eliminate or reduce barriers to trade and investment.

Multinational Corporations (MNCs)

The main carriers of economic globalization; there were 88,000 identified by 2006.

Transnational Advocacy Networks

Organizations involving individuals advocating policy changes and promoting causes, principled ideas, and norms.