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What is a simple "working definition" of globalization related to economics?

It is an economic process and an integration of national markets into a wider market signified by increased free trade.

According to Manfred Steger, what is globalization?

The expansion and intensification of social relations and consciousness across world-time and across world-space.

In Steger's definition of globalization, what does "expansion" refer to?

The creation of new social networks and the multiplication of existing connections that cut across traditional political, economic, cultural, and geographic boundaries.

In Steger's definition of globalization, what does "intensification" refer to?

The expansion, stretching, and acceleration of these social networks.

Manfred Steger notes that globalization occurs at an objective, material level, but also involves what subjective plane?

The subjective plane of human consciousness.

What is "Globalism"?

A widespread belief among powerful people that the global integration of economic markets is beneficial for everyone, as it spreads freedom and democracy.

Who is the anthropologist that identified five different kinds of globalization called "scapes"?

Arjun Appadurai.

What are Arjun Appadurai's five "scapes" of globalization?

1. Ethnoscape (movement of people)
   2. Mediascape (flow of culture)
   3. Technoscape (mechanical goods and software)
   4. Financescape (circulation of money)
   5. Ideoscape (political ideas)

How does the International Monetary Fund (IMF) define Economic Globalization?

A historical process representing the result of human innovation and technological progress.

What does UNCTAD stand for?

United Nations Conference on Trade and Development.

What is "High Frequency Trading"?

A process where supercomputers execute millions of stock purchases and sales between different cities in a matter of seconds.

What was the Silk Road?

A network of pathways in the ancient world that spanned from China to the Middle East and Europe.

Who opened the Silk Road trade, and when?

The Han Dynasty in 130 BCE.

Why is the Silk Road considered "international trade" rather than "global trade"?

Because it linked specific regions but did not connect all important populated continents continuously.

Who closed the Silk Road in 1453 BCE?

The Ottoman Empire.

According to historians Dennis O. Flynn and Arturo Giraldez, when did full economic globalization begin?

When all important populated continents began to exchange products continuously and in values sufficient to generate crucial impacts on all partners.

What event in 1571 is cited as a major step in economic globalization?

The establishment of the Galleon Trade between Manila, Philippines and Acapulco, Mexico.

What was the "Age of Mercantilism" (16th–18th Century)?

A system of global trade with multiple restrictions, including high tariffs, forbidden trade for colonies with other nations, and subsidized exports.

What was the "Gold Standard" established in 1867?

A more open trade system where countries established a common basis for currency prices and a fixed exchange rate system based on the value of gold.

What was the goal of the Gold Standard?

To create a common system for efficient trade and prevent the isolationism of the mercantilist era.

Why did countries abandon the Gold Standard during World War I?

Countries depleted their gold reserves to fund their armies.

What was the "Great Depression" (1920s–1930s)?

The worst and longest recession ever experienced by the Western world.

According to Barry Eichengreen, how was the United States able to revive its economy during the Great Depression?

By abandoning the gold standard, which freed up money for government spending.

What are "Fiat Currencies"?

Currencies that are not backed by precious metals and whose value is determined by their cost relative to other currencies.

When was the Bretton Woods System inaugurated?

In 1944 during the United Nations Monetary and Financial Conference.

Which British economist heavily influenced the Bretton Woods System?

John Maynard Keynes.

What is the core idea of "Global Keynesianism"?

Economic crises occur not when a country lacks money, but when money is not being spent and is therefore not moving.

What two financial institutions were created during the Bretton Woods Conference?

1. International Bank for Reconstruction and Development (IBRD/World Bank)
   2. International Monetary Fund (IMF)

What is the primary responsibility of the World Bank (IBRD)?

Funding postwar reconstruction projects.

What is the role of the IMF in the global economy?

To serve as the global lender of last resort to prevent individual countries from spiraling into credit crises.

What was GATT (1947), and what was its purpose?

The General Agreement on Tariffs and Trade; its main purpose was to reduce tariffs and other hindrances to free trade.

What economic phenomenon occurred in 1973–1974 characterized by declining growth and rising prices?

Stagflation (stagnation + inflation).

Which two economists challenged the Keynesian orthodoxy in the late 20th century?

Friedrich Hayek and Milton Friedman.

According to Neoliberal thinkers, what caused inflation in the 1970s?

Government practice of pouring money into economies, which increased demand without necessarily increasing supply.

What does "Neoliberalism" refer to?

Market-oriented reform policies such as eliminating price controls, deregulating capital markets, and lowering trade barriers.

What are the primary characteristics of Neoliberalism since the 1980s?

1. Minimal government spending
   2. Privatization of government-controlled services
   3. Reducing tariffs to open economies.

What was the "greatest economic downturn since the Great Depression"?

The Global Financial Crisis of 2007–2008.

Why is economic globalization described as an "uneven process" today?

Progressive countries (US, Japan, EU) are responsible for 65 percent of global exports, while developing countries account for only 29 percent.

What is a common example of protectionism in developed countries?

Japan's refusal to allow rice imports and the US protecting its sugar industry.

What does the term "Race to the Bottom" mean in globalization?

Countries lowering their labor standards to attract foreign investment and remain competitive.

What are the four key attributes of today's global system of world politics?

1. Independent countries that govern themselves
   2. Interaction through diplomacy
   3. International organizations like the UN
   4. International Organizations taking on lives of their own.

In political science, what is a "State"?

A country and its government, exercising authority over a specific population within a specific territory.

What are the four attributes of a State?

1. Population (citizens)
   2. Territory
   3. Government structure
   4. Sovereignty (internal and external authority).

How does Benedict Anderson define a "Nation"?

An "imagined community" that is limited by official boundaries and shares a particular culture or language.

What is the significance of the Treaty of Westphalia (1648)?

It is considered the origin of the concept of sovereignty, ending the Thirty Years' War and recognizing states' control over their domestic affairs.

What was the "Napoleonic Code"?

A legal system that forbade birth privileges, encouraged freedom of religion, and promoted meritocracy in government service.

What was the "Concert of Europe" (1815–1914)?

An alliance of "Great Powers" (UK, Austria, Russia, Prussia) that sought to restore monarchical and religious privileges after Napoleon's defeat.

Who was the architect of the "Concert of Europe"?

Klemens Von Metternich.

What is "Internationalism"?

A system of heightened interaction between sovereign states, particularly the desire for greater cooperation and unity.

What did Immanuel Kant imagine regarding internationalism?

A form of global government, believing that without it, the international system would be chaotic.

Who coined the word "international" in 1780?

Jeremy Bentham.

What principle did Woodrow Wilson advocate for regarding nations?

The Principle of Self-Determination—the belief that nations have a right to a free and sovereign government.

Woodrow Wilson advocated for the creation of which international body?

The League of Nations.

How did Karl Marx divide the world?

Into classes (Capitalist/Bourgeoisie and Proletariat/Workers) rather than countries.

What is the "Socialist International" (SI)?

A union of European socialist and labor parties established in Paris in 1889.

Who founded the USSR and established the Communist International (Comintern) in 1919?

Vladimir Lenin.

What did Joseph Stalin replace the Comintern with in 1943?

The Communist Information Bureau (Cominform).

What is "Global Governance"?

Various intersecting processes and institutions that coordinate the behavior of transnational actors, resolve disputes, and manage cross-border issues.

What are the three powers of International Organizations (IOs) identified by Barnett and Finnemore?

1. Power of Classification (inventing categories like "refugees")
   2. Power to Fix Meanings (defining concepts like "security")
   3. Power to Diffuse Norms (spreading codes of conduct).

When was the United Nations created?

After the collapse of the League of Nations at the end of World War II.

What are the five active organs of the United Nations?

1. General Assembly (GA)
   2. Security Council (SC)
   3. Economic and Social Council (ECOSOC)
   4. International Court of Justice (ICJ)
   5. Secretariat.

What is the "General Assembly" (GA)?

The main deliberative policymaking organ of the UN, where all 193 member states are represented.

Who was the Filipino GA President in 1949–1950?

Carlos P. Romulo.

Which organ is considered the most powerful in the UN?

The Security Council (SC).

Who are the "Permanent 5" (P5) members of the UN Security Council?

China, France, Russia, UK, and the US.

What is the primary challenge posed by the P5's veto power?

A single vote from one P5 member can stop any SC action, potentially making the UN ineffectual (e.g., Kosovo, Syria).

What is the role of the International Court of Justice (ICJ)?

To settle legal disputes submitted by states and give advisory opinions on legal questions referred by the UN.

What is "Regionalism"?

A political and economic phenomenon where countries in a geographically specified area organize to oversee flows and policy choices.

What is "Regionalization"?

The regional concentration of economic flows.

Name three reasons why countries form regional associations.

1. Military Defense (e.g., NATO)
   2. Pooling resources/exports (e.g., OPEC)
   3. Protection from superpower politics (e.g., Non-Aligned Movement).

What is "Non-State Regionalism"?

Tiny associations that focus on single issues, such as the Rainforest Foundation or Regional Interfaith Youth Networks.

Where did Starbucks open its first store in 1971?

Pike Place Market, Seattle.

What novel inspired the name "Starbucks"?

Moby-Dick.

Who is the key figure credited with transforming Starbucks into a global brand after a trip to Milan in 1983?

Howard Schultz.

When did Starbucks open its first store in Asia (Japan)?

In 1996.

In how many countries is Starbucks currently present?

Over 80 countries.

What is Starbucks' "C.A.F.E. Practices"?

Coffee and Farmer Equity practices, ensuring ethical sourcing and sustainable production.

What is a "Multi-Domestic Strategy" used by Starbucks?

Adapting menu items, marketing, and store design to local culture and tastes.

When did the first Starbucks branch open in the Philippines?

In 1997 at the 6750 Ayala Building, Makati City.

Who became the Chairman and CEO of Starbucks on September 9, 2024?

Brian Niccol.

Which company is recognized as the world's biggest food and beverages company?

Nestlé.

Who founded Nestlé in the 1860s, and what was his original profession?

Henri Nestlé, a pharmacist.

What was Nestlé's first product, developed in 1867?

Farine Lactée (a mixture of cow's milk, wheat flour, and sugar for infants).

When did Nestlé merge with the Anglo-Swiss Condensed Milk Company?

In 1905.

In how many countries are Nestlé products sold?

185 countries.

Who is the current global CEO of Nestlé (since 2025)?

Philipp Navratil.

Who is the Chairman and CEO of Nestlé Philippines (since July 2025)?

Mauricio Alarcón.

Nestlé Philippines started as a partnership in 1960 with which local corporation?

San Miguel Corporation.

Where is Dunkin' (formerly Dunkin' Donuts) headquartered?

Quincy, Massachusetts.

Who founded Dunkin' in 1946 under the original name "Open Kettle"?

William Rosenberg.

When did Dunkin' enter the Philippines?

In 1981.

Which international restaurant group acquired Dunkin'?

Inspire Brands.

Who is the current CEO of Dunkin'?

David Hoffmann.

Who founded Jollibee in 1975, and what was it originally?

Tony Tan Caktiong; it started as a Magnolia ice cream parlor.

When did Jollibee officially become a fast-food brand?

In 1978.

What does the Jollibee mascot represent?

Hard work, speed, and friendly service.

What major U.S.-based brand did Jollibee acquire in 2019?

The Coffee Bean and Tea Leaf.

What percentage of Smashburger does Jollibee currently own?

100 percent (fully acquired in 2019).

Who is the current Global President and CEO of Jollibee Foods Corporation?

Ernesto Tanmantiong.

What is the "Farmer Entrepreneurship Program" (FEP) launched by Jollibee in 2008?

A program that trains smallholder farmers to supply vegetables directly to Jollibee's commissaries.