Globalization and Global Governance Lecture

Vocabulary flashcards covering essential terms and definitions from the lecture notes on globalization, global governance, and related concepts.

Globalization

The increasing interaction and integration of people, states, and countries through flows of money, ideas, culture, and technology, creating a borderless world.

Characteristics of Globalization

Social mobility, intensification of interactions, active processes, and the rapid spread of ideas, knowledge, technology, and culture across borders.

Martin Albrow & Elizabeth King Definition

Globalization is the process by which the world is incorporated into a single society.

Anthony Giddens Definition

Globalization is the intensification of worldwide social relations that link distant localities such that local happenings are shaped by events far away and vice versa.

Roland Robertson Definition

Globalization involves the compression of the world and the intensification of the consciousness of the world as a whole.

Corporate Giants

Large national trusts or enterprises referenced in 1897 by Charles Taze Russell, foreshadowing multinational corporations.

IMF’s Four Aspects of Globalization

Trade and transactions, capital and investment movements, migration and movement of people, and dissemination of knowledge and technology.

Indicators of Globalization

Country interdependence, scientific and technological advancement, cross-border environmental issues, and expanding economic and political links.

Nature of Globalization

Global transactions in which product components and operations are located in multiple countries but linked by common ownership and strategy.

Reasons for Globalization

Shrinking time–distance, limited domestic markets, access to foreign know-how, lower transport costs, proximity to raw materials and consumers, and institutions like the WTO.

Stage 1 (Partnership)

Forming relationships with local dealers and distributors abroad as the first step toward globalization.

Stage 2 (Planning)

Independently researching and analyzing foreign markets before entry.

Stage 3 (Implementing)

Directly marketing and selling products overseas.

Stage 4 (Authorization)

Establishing foreign operations such as R&D and engineering facilities.

Stage 5 (Full Operation)

Operating globally with integrated worldwide activities.

Merits of Globalization

Open economies, fresh ideas, higher-paying export jobs, and faster productivity growth via comparative advantage.

Demerits of Globalization

Exploitation of underdeveloped countries, widening rich-poor gap, and harm to small industries.

Economic Globalization

Expansion of international production, finance, technology, institutions, and labor owing to liberalized trade and communication advances.

Market Integration

Situation where prices of goods move proportionally across locations, indicating related and connected markets.

International Financial Institutions (IFIs)

Organizations chartered by multiple countries under international law that provide monetary cooperation and development finance.

International Monetary Fund (IMF)

Global body of 190 members that promotes monetary cooperation, exchange stability, growth, employment, and short-term balance-of-payments assistance.

Multilateral Development Banks (MDBs)

International banks such as the World Bank Group and regional development banks that offer long-term loans, grants, and technical aid for development.

World Bank

IFI that reduces poverty and supports economic development through loans, grants, and technical assistance to developing countries.

African Development Bank

MDB financing economic and social progress in Africa through loans and technical support.

Asian Development Bank

Manila-based MDB aiding Asia-Pacific nations in poverty reduction and quality-of-life improvements.

Inter-American Development Bank

MDB fostering economic and social development in Latin America and the Caribbean with emphasis on inclusion, productivity, and sustainability.

European Bank for Reconstruction and Development

MDB supporting market-oriented economies and private initiative in countries transitioning to democracy.

Global Corporation (Multinational Corporation)

A business entity operating in two or more countries, leveraging global markets to generate revenue.

PATHFIT 1

Course reintroducing locomotor and non-locomotor movement patterns integrated with core training for functional fitness.

Physical Education (PE)

Discipline focused on improving health and fitness through exercise, sports, and physical activities while fostering social skills.

Components of Physical Education

Health and wellness education, motor skill development, and promotion of lifelong physical activity.

Physical Fitness

The body’s ability to perform daily tasks without undue fatigue, enhanced through regular exercise to prevent disease.

Global Governance

Ways governments, international organizations, and stakeholders cooperate to tackle global challenges and maintain order.

United Nations (UN)

International organization founded in 1945 with 193 member states, aiming to maintain peace, foster cooperation, and promote human rights.

Internationalism

Ideology emphasizing cooperation among sovereign nations via diplomacy and international organizations while respecting national borders.

Globalism

Worldview that highlights dense, multi-continental networks and advocates diminishing significance of national borders in favor of integrated global systems.

World-Systems Theory

Immanuel Wallerstein’s framework dividing the world economy into core, semi-periphery, and periphery zones based on labor and capital flows.

Core Countries

Highly industrialized, technologically advanced nations that dominate global trade and exploit resources from less developed areas.

Semi-Peripheral Countries

States with mixed characteristics, acting as buffers between core and periphery, possessing moderate industrialization and diversity.

Peripheral Countries

Less developed nations exporting raw materials and low-wage labor, often economically dependent on core countries.

International Criminal Court (ICC)

Permanent court in The Hague that prosecutes individuals for genocide, crimes against humanity, war crimes, and aggression.

Genocide

Acts committed with intent to destroy, in whole or in part, a national, ethnic, racial, or religious group.

Crimes Against Humanity

Widespread or systematic attacks directed against civilians, including murder, enslavement, and torture.

War Crimes

Serious violations of the laws and customs applicable in armed conflict, such as targeting civilians or mistreating prisoners of war.

Aggression (ICC context)

Planning, preparing, or executing acts of force by a state against the sovereignty, territorial integrity, or political independence of another state.

Political Globalization

Enlargement of the international political system in which inter-regional dealings, including trade, are managed through global institutions.