CONTEMPORARY WORLD

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CONTEMPORARY WORLD

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Globalization

The process through which more people across large distances become connected in diverse ways is called _____.

Deterritorialization

Globalization is equated in academic versions to the process of _____.

Deterritorialization

What term describes the process where the constraints of physical space lose their hold on social relations?

1930

The World Cup tournament, as a symbol of globalization, first started in what year?

Neoliberalism

A modified form of liberalism that favors freemarket capitalism is known as _____.

A new opportunity to spread faith and convert lost souls abroad.

How does a Korean Pentecostal Missionary perceive globalization?

Cutting threads off designer jeans.

According to Lechner, what motivates a Chinese worker to leave rural poverty for factory work?

World System

The perspective that globalization is essentially the expansion of capitalism around the globe is known as _____ Theory.

Core areas

In World System Theory, which group of countries dominates and exploits resources and trade opportunities?

Semi-periphery

What term describes industrializing, capitalist countries positioned between the periphery and the core?

Bourgeoisie

In Marxist tradition, the class struggle occurs between the workers (proletariat) and the owners, known as the _____.

World Polity Theory

Which theory posits an all-encompassing 'world polity' and associated world culture as the main component of society?

Homogenous

World Culture Theory argues that world culture is less _____ than World Polity Theory suggests.

Worldwide scale

The concept of a 'global village' or a 'shrinking world' results from human activities taking place on a _____.

Through global movements and Non-Government Organizations (NGOs)

How does a political scientist view the transcendence of national borders?

Markets in goods and services

According to economists, integration occurs primarily through the international trade of _____.

History

Which discipline notes that the first English use of the term 'globalization' was recorded in 1930?

Market Globalism

An ideology that seeks to endow globalization with free-market norms and neoliberal meanings is called _____.

Inevitable

According to Steger, globalization is often presented as an _____ and irreversible process.

Self-regulating

Steger argues that under market globalism, the market is viewed as _____.

Privatization

The process of transferring an enterprise from the public sector to the private sector is called _____.

MERALCO (Manila Electric Company)

Name one major Philippine utility company that underwent privatization.

Functional integration between internationally dispersed activities

Internationalization is to the extension of economic activities

as Economic Globalization is to _____.

Globalization of trade

Which interconnected dimension involves the movement of goods and services across borders?

International Monetary

The system that forms rules and standards for facilitating international trade is the _____ System.

Classical Gold Standard Regime

Which monetary regime lasted from 1870 to 1914 and involved exchange rates fixed to gold?

New Hampshire

The Bretton Woods System was drafted in 1944 at a meeting held in which US state?

International Monetary Fund (IMF)

What is the primary international organization embedded in the Bretton Woods monetary regime?

Seignorage

The profit derived by a sovereign power from the issuance of money is called _____.

Managed Float Regime

Identify the currency regime where price is set by the forex market based on supply and demand

International Governmental Organization (IGO)

A entity created by treaty involving two or more nations to work on common issues is an _____.

International Non-Governmental Organization (NGO)

What type of organization works to benefit undeveloped countries facing the backlash of economic globalization?

Multinational Corporations (MNCs)

Corporations that have overseas branches and utilize automation are called _____.

Automation

The use of control systems for operating equipment like machinery is called _____.

It widens the disparity between educated and uneducated workers.

How does economic globalization typically affect the income gap in developing countries?

Pasig City, Philippines

Where is the main office of the Asian Development Bank (ADB) located?

1.90

One of the World Bank's current goals is to end extreme poverty by reducing the percentage of people living on less than _____ a day.

International Bank for Reconstruction and Development (IBRD)

The World Bank branch that lends to middle-income and creditworthy low-income governments is the _____.

International Finance Corporation (IFC)

Which World Bank organization focuses exclusively on the private sector in developing countries?

Surveillance

The IMF's function of monitoring economic and financial policies of member countries is called _____.

Market Integration

The state of affairs where prices of related goods sold in different locations begin to move in similar patterns is _____.

1948

The General Agreement of Tariffs and Trade (GATT) was established in what year?

Free Trade Agreement

Which form of integration involves reducing trade barriers among member countries to zero?

Common external tariff

A Customs Union differs from a Free Trade Area because its members adopt a _____.

Economic Union

The highest form of economic integration, involving integrated monetary and fiscal policies, is an _____.

28

How many countries are currently members of the European Union?

• Unity

• solidarity

• harmony

On the European Union flag, the 12 gold stars symbolize ideals of _____.

Maastricht Treaty

Which treaty signed in 1992 prepared for the European Monetary Union?

To create interdependence so countries could no longer mobilize armed forces against each other.

What was the purpose of the 1951 Treaty establishing the European Coal and Steel Community?

Bangkok, Thailand

ASEAN was founded in 1967 in which city and country?

Narciso R. Ramos

Who was the representative of the Philippines among the five founding leaders of ASEAN?

AEC Blueprint 2025

The vision of a highly integrated and cohesive ASEAN economy is outlined in the _____.

Business Process Outsourcing (BPO)

A billion-dollar business in the Philippines driven by low operational costs is _____.

Solidity

In the pre-global age, social forms were characterized by _____, meaning they tended to harden and were limited to one place.

Liquidity

The metaphor for the global age where social forms 'melt' and become increasingly mobile is _____.

Flows

Movement of people, objects, decisions, and information across the world are described as global _____.

Weightless

Industrial societies are 'Heavy' '

as the digital era is to _____.

Schirato and Webb

Which authors define globalization as a 'discursive regime' that orders and evaluates activities through narratives and ideas?

Culture

The transmission of ideas, meanings, and values around the world to extend social relations is globalization in _____.

Awareness

Growth of illicit activities like human trafficking is an effect of increased global _____.

Imperialism

Methods employed by one country to gain territorial control over another is defined as _____.

Decolonization

The process of revealing and dismantling colonialist power is called _____.

China

Economic globalization is established when countries barter goods, such as the Philippines bartering porcelain with _____.

Silk Road

The oldest international trade route introduced by China is the _____.

Global value chain

The sequence of value creation through different stages of a product's life is a _____.

Microeconomics

What is the study of the behavior of households and firms regarding resource allocation?

Finance

The primary feature of a global economy involving the transfer of money between countries is international _____.

World Health Organization (WHO)

The specialized agency of the UN responsible for global health standards and norms is the _____.

Supranational Organization

Which organization seeks to promote economic unity and extends beyond the borders of three or more states?

International Labor Union (ILU)

The UN organ devoted to promoting social justice and labor rights is the _____.

Transnational Corporation (TNC)

A commercial enterprise that operates facilities in more than one country and is centrally controlled by a parent company is a _____.

Peripheral countries

In World System Theory, countries that are dependent on others for capital and have underdeveloped industries are _____.

North; South

The Brandt Line is an invisible line that divides the world into the rich _____ and the poor _____.

Trade Liberalization

The removal or reduction of restrictions on the free exchange of goods between nations is _____.

TRIPS (Trade-Related Aspect of Intellectual Property Rights)

Intellectual property rights like movies and computer software are governed by the _____ agreement.

Independent organization

Unlike GATT, which was a forum, the WTO is an _____.

Nation

What is the term for an 'imagined community' that is limited and sovereign?

State

A community of persons occupying a definite territory with an organized government free of external control is a _____.

Internationalism

The political principle that places the interests of the entire world above individual nations is _____.

Compliance gap

Global governance faces five 'gaps' as identified by Weiss; name the gap involving the refusal to follow rules.

Institutional gap

Global governance faces five 'gaps' as identified by Weiss; name the gap involving the lack of an effective organization to act.

North-South Divide

The socio-economic and political division between wealthy developed countries and poorer developing countries is the _____.

25%

What percentage of the global population resides in the Global North?

One-fifth (20%)

The Global South accounts for roughly what fraction of globally earned income?

Second World

During the Cold War, former communist countries that were neither prosperous nor in extreme poverty were termed the _____.

Third World

To which world did the non-aligned realm of poverty and under-development belong during the Cold War?

Human Development Index (HDI)

The primary indicator used to characterize a developed country is the _____.

Developing Economy

If a country depends heavily on the exports of primary commodities and has high unemployment, it has a _____.

Dual Economy

An economy characterized by the coexistence of a modern sector and a traditional sector is called a _____.

Economic interaction

Asian Regionalism is described as a product of _____ rather than political planning.

Regionalization

The formal process of intergovernmental collaboration between two or more states is _____.

The integration of economies across state borders

Regionalization is to the division of areas into segments

as Globalization is to _____.

Cultures

One major factor leading to Asian integration is the similarity of _____ among diverse nations.

Monopolies

Under market regionalization, what economic risk is more likely to develop compared to globalization?

It ceased to exist as the Soviet Union collapsed.

What happened to the 'Second World' between 1989 and 1991?

0.1%

LDCs often have population growth rates as high as 1.6%, compared to only _____ in developed countries.

Equitable Economic Development

The ASEAN pillar ensuring people and businesses are engaged in the integration process is _____.

Most favored nation principle

The GATT principle requiring governments to offer the same trade concessions to all member nations is called the _____.

U.S. dollar

In the Bretton Woods system, the _____ was the main source of international liquidity.