Contemporary World Lesson 1
Contemporary World Lesson 1
Contemporary World Lesson 1
Objectives: at the end of this video lecture you will be able to:+
1. Understand the meaning of Globalization
2. Identify the different qualities and characteristic of Globalization
3. Interpret his/her own meaning of Globalization.
Chapter I. INTRODUCTION AND THE CONCEPT OF GLOBALIZATION
With the birth of Information Technology and the widespread of these makes the world
interconnected to each other. Because of these that anything and everything becomes global.
Networking plays a pivotal role in establishing relationship between nations in the world
resulting to the introduction of new normal Globalization.
Economic globalization: is the development of trade systems within transnational actors such
as multinational corporations or NGOs;
: can be linked with the rise of a global financial system with international financial exchanges
and monetary exchanges. Stock markets, for instance, are a great example of the financially
connected global world since when one stock market has a decline, it affects other markets
negatively as well as the economy as a whole.
Geographic globalization: is the new organization and hierarchy of different regions of the
world that is constantly changing. Moreover, with transportation, flying made so easy and
affordable, apart from a few countries with demanding visas, it is possible to travel the world
without barely any restrictions or less restrictions.
Ecological globalization: accounts for the idea of considering planet Earth as a single global
entity – All societies should protect since the weather affects everyone and we are all protected
by the same atmosphere. To this regard, it is often said that the poorest countries that have
been polluting the least will suffer the most from climate change.
Economics Politics
Characteristics of Globalization
According to Held and McGrew (2002) a Globalization has several distinguishing characteristics.
1. Creation and Multiplication of connections:
development and increasing social network and cultural activities that led to the
breaking of traditional norms and practices in the political, economic and cultural
realisms of most communities.
2. Expansion and Stretching of connections:
social operations and corrections on how the financial markets and trading
operate around the globe like the operations of Economic Organizations like of
WTO ASEAN Economic Community, World Economic Forum and European Union
that brought expansions throughout the world.
3. Intensification and Acceleration of connections:
human activities where it describes how the process of world and individual
connection works. The fourth Industrial Revolution is a concrete example where
Digital machines widely used in reaching every global events.
4. Consciousness and awareness of connections:
the people as the primary actors of globalization is very important on how they
impact the growing outcomes and markers in globalization specially the
implications of their actions to the norms and practices of borderless world.