What is globalization according to the Oxford English Dictionary?
The act of globalizing
Global meaning?
Pertaining to or involving the whole world
Worldwide meaning?
Universal
Globalization according to United Nations Poverty and Development Division
An increasing interaction across national boundaries affecting many aspects of life (economic, social, cultural, political).
True or False: Globalization has both positive and negative impacts on development.
True
The increased interconnectedness and interdependence of people and countries
Globalization
Two interrelated elements of globalization
- Increasingly fast flows of goods, services, finance, people, and ideas across international borders
- The changes in institutional and policy regimes at the international and national levels that facilitate or promote such flows
Positive Effects of Globalization
- Better Products and Lower Prices
- Collaboration and Shared Resources
- Cross-Cultural Exchange
- Spread of Knowledge and Technology
- Quick Technology Advancements
- Increased Open-Mindedness and Tolerance
Negative Effects of Globalization
- Environmental Problems
- Economic Dependence
- Job Insecurity
- Threat to Cultural Diversity
- Migration Challenges
- Spread of Disease
A type of company operating in multiple countries with a centralized management at the headquarters of the main branch
Multinational Company (MNC)
A type of company operating globally without a centralized system, each branch having its own management
Transnational Company (TNC)
What is the management system of each branch of TNCs called?
Decision-making body
The increase in information flows between geographically remote locations
Information Globalization
Growth of cross-cultural contact where people of the world get a better understanding and appreciation of cultural diversity and plurality
Cultural Globalization
Spread of political sphere of interests to regions and countries outside the neighborhood of political actors
Political Globalization
The potential formation of a global citizen movement
Political Globalization
True or False: Political actors in political globalization refer to that of the state only.
False, both state and non-state
Emergence of worldwide financial markets and better access to external financing for corporate, national, and sub-national borrowers
Financial Globalization
The rise and expansion of multinational and transnational enterprises
Industrial Globalization, Transnationalization
The universal, internationalist impulse that the world is connected
Globalism
Embodies cultural diffusion, the desire to consume and enjoy foreign products and ideas, adopt new technologies and practices, participate in “world culture”
Globalism
Movement of a person or persons from one place to another
Migration
True or False: Migration involves a permanent move of home for over a year.
Migration
Types of Migration
- Internal Migration
- External Migration
- Return Migration
- Seasonal Migration
- Forced Migration
- Voluntary Migration
- Emigration
- Immigration
