Cheatography
https://cheatography.com
An Introduction to Contemporary World, BMMA 2023-2024 1st Year--1st Semester.
This is a draft cheat sheet. It is a work in progress and is not finished yet.
What is Globalization?
It is a process of interaction and integration among people, companies, and governments of different nations. |
A process driven by international trade and investment, aided by information technology. |
Driving Forces of Globalization
The Information Technology Advancements |
The Policy Developments |
Supplying valuable tools in determining economic opportunities. |
Policies that opens up economies domestically and internationally. |
Promoting trade through convenience and accessibility. |
Adopting free-market economic systems to increase trade and investment potential. |
Categorizing individual economic actors; Businesses, Consumers and Investors. |
Negotiations to further reduce barriers in commerce, agreeing in international arrangements to promote trade in goods, services, and investment. |
What aspects does Globalization affects?
Culture |
Environment |
Political Systems |
Economic Development and Prosperity |
The People |
Society |
How does Globalization affect the world?
Positively |
Negatively |
Allows poor countries and their citizens to develop economically. |
Multinational corporations benefits at the expense of local businesses, local cultures, and the common people. |
Approaches to the Study of Globalization
Globalization is heavily debated and is known as "a contested and slippery concept". |
Frederic Jameson (1998) astutesly points out that, "There seems to be little utility in forcing such a complex set of social forces such a globalization into a single analytic framework." |
One of the reasons globalization has many disagreements and arguments is the fact that globalization is a fragmentated, incomplete, uneven, and contradictory set of social processes. |
Many scholars arrived at many conclusions, forming groups of consensus at which how they approach at the concept of globalization. |
Types of Approach to Globalization
Rejectionists |
The idea of scholars in which they dismiss globalization in its utility as an analytical concept. They tackle their arguments in a criticism of vague words in which they use in academic discourse. |
Sceptics |
Sceptics emphasizes the limited nature of current globalization processes. Hirst and Thompson (2009) claim that the world economy is not a truly global phenomenon, but one centered on Europe, Eastern Asia, and America. Without a truly global economic system, there is no such thing as globalization. |
Modifiers |
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