[GE CW] Midterm Reviewer

Globalization

Globalization

The process of increasing interconnectedness and interdependence among countries, driven by advancements in technology, trade, communication, and transportation.

Economic Globalization

Integration of global markets through trade, investments, and financial flows.

Cultural Globalization

Exchange and adoption of cultural practices, ideas, and values across nations.

Political Globalization

Growing influence of international organizations (e.g., United Nations, World Trade Organization) and the interdependence of political policies.

United Kingdom

Pioneer of the Industrial Revolution, setting the stage for modern economic globalization.

United States

Post-WWII leadership in establishing global financial institutions like the World Bank and IMF.

China

Transition to a market economy in the late 20th century, emerging as a major driver of globalization.

Economic Dimension

Focus on the economic aspects of globalization, including trade and market integration.

United States (Economic Dimension)

Leader in innovation and technology, home to multinational corporations like Apple and Amazon, influencing global trade and consumer behavior.

China (Economic Dimension)

'The world's factory,' contributing significantly to global manufacturing and trade. Its Belt and Road Initiative (BRI) connects over 60 countries.

European Union

An economic powerhouse promoting regional integration and free trade across member states.

Political Dimension

Focus on the political aspects of globalization, including influence and policy interdependence.

United States (Political Dimension)

Influence through military power and alliances like NATO, as well as its role in shaping global policies.

Russia

A key player in geopolitics, influencing global energy policies and international security discussions.

India (Political Dimension)

Emerging as a global voice in diplomacy and regional cooperation within South Asia.

Cultural Dimension

Focus on the cultural aspects of globalization, including cultural exchange and influence.

South Korea

Spread of K-pop, K-drama, and Korean cuisine, demonstrating the power of cultural export.

United States (Cultural Dimension)

Hollywood, fast food, and global brands have reshaped cultural norms worldwide.

France

Preserves and promotes its cultural heritage through global events like Paris Fashion Week and UNESCO collaborations.

Technological Dimension

Focus on the technological aspects of globalization, including innovation and digital influence.

Japan

Innovations in robotics and electronics such as Sony, Toyota.

United States (Technological Dimension)

Home to Silicon Valley, driving advancements in AI, software, and social media platforms.

China (Technological Dimension)

Dominates 5G technology and digital platforms like TikTok and WeChat.

Climate Change

A significant global issue impacting nations, with varying roles in emissions and advocacy.

United States (Climate Change)

Both a major emitter of greenhouse gases and a leader in climate advocacy such as Paris Agreement.

China (Climate Change)

Largest carbon emitter but also the top investor in renewable energy.

European Union (Climate Change)

Leading global efforts to combat climate change through Green Deal initiatives.

Migration

A significant global issue involving the movement of people across borders.

United States (Migration)

Destination for millions of migrants, shaping its diverse cultural and economic landscape.

Germany

A leader in welcoming refugees, particularly from the Middle East.

Philippines

Major source of migrant workers, with Overseas Filipino Workers (OFWs) contributing significantly to the global economy.

Digital Transformation

A significant global issue involving the shift towards digital technologies.

United States (Digital Transformation)

Home to tech giants like Google, Microsoft, and Facebook, shaping global digital trends.

China (Digital Transformation)

Innovates with platforms like Alibaba and Huawei, challenging Western digital dominance.

India (Digital Transformation)

A global leader in IT services and software development, hosting major tech hubs.

Globalization

Interconnected economies worldwide, with powerhouse countries shaping trade, investments, and innovation.

United States

The largest economy in the world, dominating global markets with its technological advancements, innovation, and financial power.

Multinational Corporations

Companies like Apple, Amazon, and Microsoft that influence global trade.

Financial Markets

The New York Stock Exchange (NYSE) and Nasdaq that set global financial trends.

United States

A leader in tech innovation through Silicon Valley, shaping industries globally.

Challenges of the U.S.

Balancing domestic needs with global economic commitments, such as trade deficits and manufacturing relocation.

China

Known as 'the world's factory,' a key player in manufacturing, trade, and infrastructure development.

Manufacturing Hub

China supplies consumer goods, electronics, and machinery worldwide.

Belt and Road Initiative (BRI)

Strengthens global trade by investing in infrastructure in Asia, Africa, and Europe.

Export Powerhouse

China is a leader in global exports, contributing significantly to international trade.

Challenges of China

Managing economic disparities and trade tensions, especially with the U.S.

European Union (EU)

Acts as a unified economic bloc, promoting free trade and economic integration among member states.

Single Market

Facilitates seamless trade among 27 member nations and beyond.

Global Trade Agreements

Partnerships with regions like Africa, Asia, and Latin America.

Green Economy Leadership

Transitioning to sustainable practices through the European Green Deal.

Challenges of the EU

Internal economic disparities between member states and the impact of Brexit.

Japan

A leader in advanced manufacturing and technological innovation.

Automobiles

Home to global brands like Toyota, Honda, and Nissan.

Electronics

Innovations from companies like Sony and Panasonic dominate global markets.

Trade Surplus

Maintains a strong export-based economy with a focus on quality and efficiency.

Challenges of Japan

An aging population and reliance on imported raw materials.

India

An emerging economic power with strengths in technology and services.

IT Services

Global leader in software development and outsourcing, with companies like Infosys and TCS.

Pharmaceuticals

Supplies affordable generic medicines worldwide.

Agricultural Exports

A major exporter of spices, rice, and tea.

Challenges of India

Infrastructure gaps and income inequality.

Philippines

A significant contributor to global labor markets and regional trade.

Overseas Filipino Workers (OFWs)

Remittances from OFWs boost the Philippine economy and support global industries.

Business Process Outsourcing (BPO)

A global hub for call centers and back-office services.

Agricultural Exports (Philippines)

Supplies products like coconuts, bananas, and sugar globally.

Challenges of the Philippines

Vulnerability to global economic fluctuations and climate-related risks.

Trade Agreements and Free Trade Zones

Examples include NAFTA (now USMCA) and RCEP (Regional Comprehensive Economic Partnership) that increase economic interdependence.

Supply Chain Interconnectivity

Multinational corporations rely on global supply chains, with countries like China and India as critical nodes.

Sustainability in Global Trade

The EU promotes eco-friendly policies, influencing global trade practices.