Summary of Globalization and Regionalism
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THE CONTEMPORARY WORLD
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INTRODUCTION TO GLOBALIZATION
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Global Experiences
Read the story "Gio, Latif, and the Laksa"
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GLOBALIZATION
Definition: Expansion and intensification of social relations and consciousness across world-time and world-space.
Expansion: Creation of new social networks and multiplication of existing connections across boundaries.
Intensification: Acceleration and stretching of these networks.
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Globalization involves processes that allow the expansion of connections.
Globalism vs Globalization: The former is a belief in economic integration for benefits like democracy.
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CHARACTERISTICS OF GLOBALIZATION
Global Markets: Increase economic exchange of goods and funds.
Industrial Effects: Focus on foreign commodities.
Changes in World Trade: The rise of Germany, Japan, South Korea, and China against the US.
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Employment: Job shifts to developing countries.
Foreign Direct Investment (FDI): Major indicator of economic development; globalization enhances FDI.
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Foreign Direct Investment (FDI): Investment outside home country.
International Trade: Exporting goods/services to other countries.
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SCAPES of GLOBALIZATION
Ethnoscape: Global movement of people.
Financescape: Circulation of money.
Mediascape: Flow of culture.
Ideoscape: Political ideas movement.
Technoscape: Circulation of technology.
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STRUCTURES OF GLOBALIZATION
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3 COMPONENTS OF ECONOMIC GLOBALIZATION
Economic
Cultural/Social
Political
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ECONOMIC GLOBALIZATION
Involves international movements of goods, capital, services, technology, and information.
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Macroeconomics: Examines the economy as a whole.
Microeconomics: Studies individual industries and decision-making units.
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ECONOMIC SYSTEMS
Market Economy: No government control.
Mixed Economy: Partial control.
Planned Economy: Full government control.
Traditional Economy: Relies on communal or old methods.
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FACTORS OF PRODUCTION
Land
Capital
Entrepreneur
Labor
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CULTURAL GLOBALIZATION
Transmits ideas and values across borders.
Migration facilitates cultural spread.
Food and sports examples show cultural exchange.
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POLITICAL GLOBALIZATION
Involves increasing internationalization of political activity.
Examples: EU, NATO.
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THE GLOBAL ECONOMY
Interconnected worldwide economic activities.
Positive/negative impacts on countries.
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Globalization leads to integrated economies via trade, communication, immigration, transportation.
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CHARACTERISTICS OF GLOBAL ECONOMY
International finance: Faster money transfers.
Global investment: Unbound by geography.
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MARKET INTEGRATION
Prices follow similar patterns across locations over time.
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Law of Supply: Higher prices lead to higher quantity supplied.
Law of Demand: Higher prices lead to lower quantity demanded.
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OPPORTUNITY COST
Value of the next best alternative given up for a choice.
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TAX SYSTEM CLASSIFICATION
Progressive Income Tax
Proportional Tax
Regressive Tax
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GLOBAL INTERSTATE SYSTEM
Human interactions structured politically as an interstate system.
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EFFECTS OF GLOBALIZATION IN NATION-STATES
Impact on sovereignty, cultural identity, potential benefits like economic growth and innovation.
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INSTITUTIONS GOVERNING INTERNATIONAL RELATIONS
UN, WTO, International Court of Justice, IMF, World Bank, NATO, EU, G20, ICC.
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CONTEMPORARY GLOBAL GOVERNANCE
Activities crossing national boundaries, enforced through incentives.
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UNITED NATIONS
Prominent organization to prevent global conflicts.
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UN ORGANS
General Assembly
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UN ORGANS
Security Council
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UN ORGANS
Economic and Social Council
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UN ORGANS
International Court of Justice
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UN ORGANS
Secretariat
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CHALLENGES OF THE UN
Member-state cooperation issues; P5 veto power.
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A WORLD OF REGIONS
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THE GLOBAL DIVIDES: NORTH AND SOUTH
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North: Developed countries.
South: Developing countries.
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THE GLOBAL NORTH
Developed, democratic, wealthy, technologically advanced.
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THE GLOBAL SOUTH
Developing, less stable politically and economically.
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North-South divide as socio-economic and political.
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CHARACTERISTICS OF DIVISIONS
Rich North vs Poor South: Detailed statistics comparing wealth, health, education, and production.
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ASIAN REGIONALISM
Economic interactions among Asian countries.
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REGIONS DEFINITION
Groups of countries in geographic areas.
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REGIONALIZATION
Dividing areas into regions for management.
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REGIONALISM
Counter-globalization where regional partners are prioritized.
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Asian Regionalism developed through economic interactions.
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ASEAN
Formed in 1967; promotes cooperation and economic growth.
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GLOBALIZATION vs REGIONALIZATION
Integration across states vs dividing areas into regions.
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GLOBALIZATION vs REGIONALIZATION
Free trade vs monopolistic tendencies.
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GLOBALIZATION vs REGIONALIZATION
Promotes multiculturalism vs restricted movement.
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GLOBALIZATION vs REGIONALIZATION
Global aid response vs limited regional aid interactions.
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GLOBALIZATION vs REGIONALIZATION
Drives technological advances vs limited local accessibility.
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REGIONAL INTEGRATION
Nations cooperating for peace and prosperity.
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FACTORS DRIVING ASIAN INTEGRATION
Market-driven dynamics among countries.
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FACTORS FOR GREATER INTEGRATION
Establishment of institutions like ADB.
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Economic assistance from developed Asian countries.
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Production networks based on comparative advantage.
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ASEAN collaborative financial processes established.
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CHALLENGES TO REGIONALISM
Nationalism and the populism resurgence affecting cooperation.
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Financial crises affecting regional economies.
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Conflicts between sovereignty and stability actions.
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Differing visions complicating regionalism definitions.
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Organized crime and non-state actor threats rising due to globalization.
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Weakening regional structures from internal disputes.
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Military expansion required for emerging security challenges.
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Influence of globalization on democracy in Asia.
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ASEAN CREATION
Emphasizes cooperation and collective identity among Southeast Asian nations.
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ENERGY AND ENVIRONMENTAL CHALLENGES
Sustainable energy need driven by rapid growth.
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MIGRATION ISSUES
Increasing international migration affecting regional stability.
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ORGANIZED CRIME THREATS
Security laws needed against increasing crimes due to porous borders.
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REGIONAL IDENTITY MAINTENANCE
Sovereignty preservation against external influences.
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MILITARY ROLES IN ASIA
Increased demands for military amid declining resources.
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GLOBALIZATION AND DEMOCRACY
How globalization affects authoritarian regimes in Asia.
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