Globalization and Global Governance Vocabulary

A comprehensive vocabulary review of globalization terms, economic institutions, global divides, regionalism, the international system, and global governance.

Globalization

A process of interaction and integration among people, companies, and governments of different nations, driven by international trade and investment and aided by information technology.

Glocalization

A hybrid term that captures the adoption of global outlooks to fit local conditions.

Globality

A future social condition characterized by thick economic, political, and cultural global interconnections and flows.

Modernization Theory

A sociological view that sees globalization as a driver of economic and political progress.

Dependency Theory

A view that views globalization as a catalyst for underdevelopment and the dissolution of local cultures.

Economic Globalization

The free movement of goods, capital, services, technology, and information, leading to the economic integration and interdependence of local, regional, and national economies.

Intergovernmental Organizations (IGOs)

International organizations characterized by voluntary cooperation among states without member countries surrendering their sovereignty.

Supranational Organizations

International organizations where member states surrender specific powers and sovereignty to a higher governing body.

Multinational Corporations (MNCs)

Large manufacturing corporations with centralized management systems in a home country and foreign subsidiaries operating abroad.

Transnational Corporations (TNCs)

Borderless corporations with decentralized management and local market powers distributed across multiple nations.

Core

In Wallerstein's World-System, wealthy, powerful, and developed regions that exploit other areas for labor and raw materials.

Periphery

Weak governments that export raw materials and cheap labor, and are heavily exploited by core nations.

Semi-Periphery

Regions acting as economic buffers between core and periphery countries.

External Areas

Regions that maintain their own distinct economic systems outside the capitalist world-economy.

The North-South Divide

The socio-economic and political split between wealthy developed countries ("the North") and poorer developing countries ("the South").

Global South

A term emphasizing geopolitical relations of power and mutual cooperation (South-South Cooperation) among developing nations.

Third World

A historical term coined by Alfred Sauvy in 1952 to categorize nations outside the capitalist West and communist East, later associated with deep poverty and underdevelopment.

Regionalization

The concentration of economic flows, trade, and investments within a specific geographic region binding economies together.

ASEAN (Association of Southeast Asian Nations)

Established on August 8, 1967, operating under Political-Security, Economic, and Socio-Cultural pillars.

Network (Processing) Trade

A prominent trade feature in East Asia where parts and components cross borders multiple times for assembly.

Bretton Woods System

A global economic system inaugurated in 1944 to secure lasting peace and establish international financial rules and institutions.

International Monetary Fund (IMF)

Established in 1945 to promote global financial stability, monetary cooperation, and growth.

World Bank Group (WBG)

An institution focused on ending extreme poverty and providing long-term development and reconstruction loans.

GATT (General Agreement on Tariffs and Trade)

Established in 1947 as a multilateral trade agreement focusing primarily on reducing tariffs for goods.

World Trade Organization (WTO)

The 1995 successor to GATT that handles global trade rules spanning both goods and services.

International Relations

The academic study of interactions among states and international actors in the global system.

Internationalization

The increasing involvement of enterprises, businesses, and trade in the international arena, distinct from total global integration.

State

A political entity characterized by people, a defined territory, sovereignty, and a functioning government.

Nation

A group of people sharing common traits such as history, culture, language, or identity.

Internationalism

An ideology and practice where nations cooperate across borders for the common good, divided into hegemonic, liberal, revolutionary, and socialist types.

Globalism

An ideology that prioritizes the entire world above individual nation-states, operating across economic, environmental, military, and social dimensions.

Global Governance

A transnational political movement and network of institutions aiming to solve cross-border issues without constituting a formal world government.

United Nations (UN)

Established on October 24, 1945, with 193 member states to maintain international peace, security, human rights, and development.

Knowledge Gap

One of Weiss's global governance gaps, referring to the lack of shared information or consensus on global problems.

Normative Gap

The absence or weakness of international norms and values to address specific crises.

Policy Gap

The lack of cohesive policies or political will among states to tackle global challenges.

Institutional Gap

The absence or weakness of formal international organizations equipped to handle specific transnational issues.

Compliance Gap

The failure of states or actors to follow through on international agreements and rules.