Globalisation

Key terms and concepts

globality

social, evolving condition of global economic, political, cultural, environmental interconnections and flows.

global imaginary

growing consciousness of the world as one whole.

—> weakening national imaginary.

globalization

set of social processes that is transforming our present social condition of conventional nationality into one of globality.

globalism

an ideology that prioritizes the neoliberal global order over national interests

glocalization

is an interplay between local and global

forms of globalisation

embodied (people and their mobility)

disembodied (ideas and their mobility, info)

objectified (thins and their mobility, viruses, commodities)

institutional (organisations, businesses)

qualities of globalisation

1. creation + multiplication of connections 🖇

2. expansion of social relationships 👫

3. acceleration of global social interactions 🤝

4. compression of space and time (mental and physical mobility) 🕰

individualistic globality

acting in your own interest

deregulated capitalism

competition

communal globality

benefiting you community

cooperation

democratic regulations of economy

compassionate capitalism

philosophy that states that capitalism can co-exist with socialistic and welfare values

Market globalism (dominant)

1. liberalisation and global market integration

2. G is inevitable

3. G benefits everyone

4. no one is in charge

5. spread of democracy in the world

(capitalistic)

Justice globalism

1. G leads to global crisis

2. G = disparities in wealth and wellbeing in the world

3. people power not corporate power

(so basically a more socialistic ideology)

what makes G a multidimensional process

1. density of networks 

2. institutional velocity (at which they adapt and move)

3. transnational participation (G is not driven solely by states).

capital and labour are sh…

are shifted to whichever country offers the most favourable opportunities.c

classical liberalism

transition from feudalism to capitalism in Europe.

Individualistic freedom, private property, free and self-regulated markets.

neoliberalism

from 1970s-modern

global capitalism

markert and NOT state should govern the society.

neoliberalism key concepts

1. liberated entrepreneurial freedoms and skills —> well-being

2. role of state: military, police, legal structure, safety; —> functioning markets

3. markets should be created everywhere

4. everything can be commodified

most transformative impacts of G are on

non-elite countries;

global economies and cultures clash with local —> conflicts, exploitation, dependency.

EPZs

state-supported, export-oriented, “formal” low-wage labour tied to globalization.

informal sector labour

self-generated, unregulated, precarious work tied to local survival.

“grassroots globalisation”

networks relying “on strategies, visions, and horizons for globalization on behalf of the poor.”

The goal is to create a more inclusive and fair version of globalization, where ordinary people shape global outcomes

“globalization from below”

“The hidden side of globalization
in which nation states’ normative and repressive roles are bypassed in the economic sphere.”

informal sector; how people survive and act globally when they’re excluded from official globalization.

Silk Route

🖇network of trade 💶 routes 🚃 that connected the East and West, linking civilizations across Eurasia and North Africa

1. protected by Chinese and Roman
   empire. Trade in silk and spices.

2. spread of Chinese technological advancements, new sciences

3. 17th century, China —> stopped exploring and trading overseas. The government closed the country off and stopped developing new technologies. REVERSIBILITY

4. —> emergence of European states

16^th C European conquest and colonialism

created geographies and geopolitics of
truly “planetary” dimensions.

Europ. used advanced gun technology and powerful ships to explore and control lands across the America and Pacific.

Establishment of world economy

through European merchants and traders;

established connections through the world to export\import goods.

—> 🌍 countries became economically connected through trade 💶 and production🧱.

what assisted the ‘rise of Europe’

global knowledge exchange 🤓and colonial resources 📦

(inventions like compass, gunpowder, printing; windmills, watermills, navigation tools)

BWR

an economic system set up after WW II;

(every country’s money (currency) had to have a fixed value compared to the U.S. dollar — it could only go up or down by 1%.

The U.S. dollar, in turn, was linked to gold — you could trade $35 for one ounce of gold.)

created: IMF, The World Bank, WTO (general agreement on tariffs & trade)

BWR role and benefits

Role:

Reducing trade barriers, made currencies stable (=easy trade), cooperation between countries.

Benefits:

Created middle class, controlled capitalism, economic growth and recovery from war.

BWR limitations and the end

inflation, unemployment;

US president Richard Nixon ended it in 1971; was changed by neoliberalism (focusing more on free markets and less government control).

The New Silk Route

modern 🌍global 💶trade 👆🏼system that connects Chinese factories and markets with African and Middle Eastern buyers

Yiwu (China) —> now a huge global trading hub; 58,000 shops selling small, low-cost items; FAKE AND PIRATED GOODS TOO.

—> these are exported to Africa and Middle East.

Cuban exceptionalism

1959: Cuban Revolution, cut ties with West and the US; becomes SU’s ally

—> stayed outside the global capitalist system that most countries joined.

globalization happens on a very small, informal sector layerA (mostly for tourists)

relies on state control

economic globalization

intensification and stretching of economic connections across the globe

global supply chain

Creation of efficient international divisions🗄 of production among societies
CAUSE capital and labor can be easily shifted.

allows: specialisation ⭐️

low wage c - labour intensive.

high-wage c - capital & tech intensive enterprise.

who advocated\pushed neoliberalism? globalization from above

1. Margaret Thatcher (⬇state control, free market prom, weakened trade unions)

2. Ronald Reagan (reduc gov involvement, cut taxes, deregulated industries)

3. Global financial inst (IMF, World Bank, WTO)

globalization from above

Neoliberalism = ideology
Economic globalization (1980s) = result
Globalization from above = who controlled it (powerful institutions, MNCs, governments).

Goal = capital, mobility, deregulation