Globalization

Question 1

economic globalization

Answer 1

• growing trade integration-capital market integration
• freer flow of money
• previously: capital controls, until liberalization 1970s
• transforms production: foreign direct investment
• investor powers: can leave when they dislike policy, creates power and influence
• migration: movement of people across borders

Question 2

political globalization

Answer 2

-politics beyond the nation-state
-NGOs, IOs
-may mean the state has lost sovereignty
Intergovernmental Organizations (see card)

Question 3

societal globalization

Answer 3

-widening, deepening, speeding up of global social relations
-communications far more advanced
-mobilization
-Anti-globalization
——Jose Bove
——want globalization on terms that protect sovereignty and culture (“Alter-globalization”)

Question 4

intergovernmental organizations

Answer 4

-UN, IMF (oversees international monetary system, give loans, does research)
-World back (development, loans, grants, research)
-criticism of world bank/imf
——develops world vies “washington consensus” (neo-liberal, small gov in economy)
——ignores need for effective states
——privatization = corruption