MeganCookWeek1AssignmentPatterns and Forces of Globalization Paper
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Economics
Date
Feb 20, 2024
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docx
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2
Uploaded by ProfSnowMoose34
Megan Cook
Week 1
8/13/2023
Patterns and Forces of Globalization Paper
The forces of globalization throughout time have been driven by the supply and demand of the market and the society it serves. Globalization has come a long way from its ambiguous meanings of uncertain connections with international activity, and it now seen to expand relationships and goods. Advances in technology and communication were the first forces to drive the United States into globalization in the 1900s. Although this isn’t the first traces of globalization as cultures have been trading with goods, services, capital, and information since the art of transactions have been discovered. Globalization is driven by three major forces: advancement in
technology, eliminating trade barriers, the supply and demand of the market. Globalization has also helped us effectively communicate with each other as we take inconsideration of different cultures and the way they do business. From globalization the United States has become a franchise all in its own as it expands it’s roots from places like McDonald’s and Walmart, that are
an everyday household name. As other countries compete with each other, globalization is a way to collaborate. Innovations in technology have helped us with globalization when we take the competition out of
the market and drive costs down in the process.
Resources
Ferkiss, V. (2001, November). Is Globalization a Myth?
The Futurist
,
35
(6), 16. https://3e20mgxjc-mp02-y-https-link-gale-com.proxy.lirn.net/apps/doc/A79382109/
PPBE?u=lirn34005&sid=bookmark-PPBE&xid=030de933
Okonjo-Iweala, N. (2023, July-August). Why the World Still Needs Trade: The Case for Reimagining--Not Abandoning--Globalization.
Foreign Affairs
,
102
(4), 94+. https://3e20mgxjc-mp02-y-https-link-gale-com.proxy.lirn.net/apps/doc/A754705428/
PPBE?u=lirn34005&sid=bookmark-PPBE&xid=a7fe6cdf
Royal Berglee, PhD. (2016, June 17). 4.2 United States: Early development and Globalization
. Pressbooks. https://open.lib.umn.edu/worldgeography/chapter/4-2-united-states-early-
development-and-globalization/
Wikipedia contributors. (2023). Globalization. Wikipedia
. https://en.wikipedia.org/wiki/Globalization#:~:text=Advances%20in%20transportation
%2C%20like%20the%20steam%20locomotive%2C%20steamship%2C,of%20economic
%20and%20cultural%20activities%20around%20the%20globe.
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Related Questions
The following,EXCEPT ONE, are reasons why some scholars of
globalization say that the power of the nation states have been
significantly diminished
Nation states failed to protect the environment
Financial institutions like the World Bank and IMF (International Monetary Fund)
dictate countries to implement neoliberal policies
Technological advancements made it impossible for countries to control the entry of
dangerous goods, sex trafficking, pornographic materials, terrorism and diseases
Global processes and flows are not as powerful as one may believe
Economic globalization is beyond the control of nation states
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Q2. Which of the following is true of product globalization?
The rise of the barriers to selling goods or services in countries other than home
country
The sourcing of [raw] materials and services from other countries to gain advantage
from the difference of costs or technologies in different countries
The world as a single integrated market
The spread of market economy
All of the above
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Can you explain further and give an example of the following below?
REASONS OF GLOBALIZATION
Rapid shrinking of time and distance across the globe.
Domestic markets are no longer rich.
Companies and institutions go global to find political and economic stability.
To get technological and managerial know-how of other countries due to their advancement.
To reduce high transportation costs if one goes globally.
To be close to raw materials and to markets for their finished products.
The creation of the World Trade Organization (WTO) had made it possible in stimulating increased cross border trade.
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2) How can globalization become more just?
3) What does it mean by ecological globalization ? Discuss it objectively
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Globalization has coincided with the end of the Cold War, which has led publics to use democracy to address, or target
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Several countries currently have national laws
against ecocide -- the willful or negligent
destruction of ecosystems -- but these laws
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that international prosecution for crimes of
ecocide via an "ecocide law" at the
International Criminal Court (ICC) would allow
the prosecution of powerful firms and
countries for environmental harm violations.
What overall impact do you think an
international ecocide law would have on
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a) Globalization harms the poor and benefits the rich in these high-income countries.
b) Globalization causes income-inequality in these high-income countries.
c) Globalization reduces employment in these high-income countries.
d) Globalization creates winners and losers.
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How do we link the concept of globalization with the economic effects resulting from the decline in oil prices? (impact of globalization)
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ARTICLE/HISTORY OF GLOBAL MARKET
INTEGRATION
- GLOBAL MARKET INTEGRATION DID NOT
HAPPEN OVERNIGHT. IT WAS THE RESULT
OF THE ESTABLISHMENT OF A GLOBAL
ECONOMY THAT INVOLVED THE
HOMOGENIZATION OF TRADE AND
COMMERCE. PRIOR TO THE TRENDS IN
GLOBALIZATION OF THE 20TH CENTURY,
INTERNATIONAL TRADE AND EXCHANGE OF
GOODS AND SERVICES WERE ALREADY
PRACTICED. HARVEY (1990) SEES THAT CITY
AND COUNTRIES WERE ABLE TO EXTEND
THEIR REACH BEYOND BORDERS AND
PATTERNS OF TRADE AND TECHNOLOGY
BECAUSE OF DEVELOPMENTS IN SHIPPING
AND NAVIGATION.
THIS WAS OBSERVABLE IN THE
DEVELOPMENT OF MARITIME TRANSPORT
THROUGHOUT HISTORY. COLONIALISM AND
IMPERIALISM ROSE AS THE NEW WAYS OF
PUTTING ORDER TO THE ECONOMIC
INTERRELATIONSHIPS AMONG COUNTRIES.
EQUITY, CORPORATE OWNERSHIP,
MANAGEMENT SUBSIDIARIES, AND
CENTRAL HEADQUARTERS WHICH SUPPLY
AND DISTRIBUTE GOODS AND SERVICES
WERE ESTABLISHED THROUGH
COLONIALISM. THE SPANISH GOVERNMENT
IN THE 1960S, FOR INSTANCE MADE USE OF
ITS COLONIES LIKE THE PHILIPPINES AND…
arrow_forward
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a) From an institution-based perspective, how are national and international politics likely to influence future paths of globalization?
b) How should multi-national entities respond strategically if a “new cold war” emerges due to great power rivalry?
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List down the important ideas/concepts.
Globalization is the term used to describe how countries are becoming more interconnected economically and culturally. Globalization is an international process driven by trade, investment technology, and finances; this process affects culture, political systems, economic development and prosperity, and human physical well-being worldwide. Globalization is not new, though. For thousands of years, people and later corporations bought from and sold to each other at great distances. One such example is the thin silk road across central Asia that connected China and Europe during the middle ages. Still, what exactly has driven globalization over the past 20 years? These have been significant developments in both communications and transport technologies. The introduction of specialized bulk carriers and container ships has helped reduce the cost of transportation and significantly increase the volume of world trade. Recent developments in…
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give me another explanation about this
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Has been universally welcomed and appreciated in all world markets
Helps firms in their efforts to supply products and output in the international marketplace
Has increased the choice available to consumers
Led to greater exchange and sharing transnationally
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five common functions the actors of Globalization play in the Global economy.
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Instruction: Make your own definition of economic globalization and tell the reason on why all products you have or you have wore are part of economic globalization.
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Please briefly explain what globalization is and what are the drivers of globalization.
This should be at least two paragraphs long PLEASE.
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What is economic globalization? What are the factors that facilitate economic globalization?
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How is the Philippines central to the history of
economic globalization? What is the role of the
Philippines in the world economy today?
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- The following,EXCEPT ONE, are reasons why some scholars of globalization say that the power of the nation states have been significantly diminished Nation states failed to protect the environment Financial institutions like the World Bank and IMF (International Monetary Fund) dictate countries to implement neoliberal policies Technological advancements made it impossible for countries to control the entry of dangerous goods, sex trafficking, pornographic materials, terrorism and diseases Global processes and flows are not as powerful as one may believe Economic globalization is beyond the control of nation statesarrow_forwardWhat are the changes since the globalization was digitalized? What activities have been present in this form of new globalization that didn't really exist before? How do countries exchange goods or participate in globalization this time?arrow_forwardQ2. Which of the following is true of product globalization? The rise of the barriers to selling goods or services in countries other than home country The sourcing of [raw] materials and services from other countries to gain advantage from the difference of costs or technologies in different countries The world as a single integrated market The spread of market economy All of the abovearrow_forward
- Can you explain further and give an example of the following below? REASONS OF GLOBALIZATION Rapid shrinking of time and distance across the globe. Domestic markets are no longer rich. Companies and institutions go global to find political and economic stability. To get technological and managerial know-how of other countries due to their advancement. To reduce high transportation costs if one goes globally. To be close to raw materials and to markets for their finished products. The creation of the World Trade Organization (WTO) had made it possible in stimulating increased cross border trade.arrow_forward1) what is the economic point of view of globalization? 2) How can globalization become more just? 3) What does it mean by ecological globalization ? Discuss it objectivelyarrow_forwardWhich of the following is NOT a mechanism that could link globalization to the contemporary rise of populism? Group of answer choices Political globalization has reined in power of national states, pitting the people against foreign elites Globalization has coincided with the end of the Cold War, which has led publics to use democracy to address, or target democracy as the cause of, their suffering Populism is a natural byproduct of democratization, which has spread since the third wave Economic globalization has coincided with a rise in income inequality around the worldarrow_forward
- Several countries currently have national laws against ecocide -- the willful or negligent destruction of ecosystems -- but these laws rarely result in penalties. Advocates believe that international prosecution for crimes of ecocide via an "ecocide law" at the International Criminal Court (ICC) would allow the prosecution of powerful firms and countries for environmental harm violations. What overall impact do you think an international ecocide law would have on globalization? Explain your answer.arrow_forwardJan Aart Scholte (2000: 15-17) has argued that at least five broad definitions of ‘globalization’ can be found in the literature. Explain each in your own words.arrow_forwardIt has been observed that the growth of globalization since the 1990s has been accompanied by rising inequality in many high-income countries. This means a) Globalization harms the poor and benefits the rich in these high-income countries. b) Globalization causes income-inequality in these high-income countries. c) Globalization reduces employment in these high-income countries. d) Globalization creates winners and losers.arrow_forward
- How do we link the concept of globalization with the economic effects resulting from the decline in oil prices? (impact of globalization)arrow_forwardARTICLE/HISTORY OF GLOBAL MARKET INTEGRATION - GLOBAL MARKET INTEGRATION DID NOT HAPPEN OVERNIGHT. IT WAS THE RESULT OF THE ESTABLISHMENT OF A GLOBAL ECONOMY THAT INVOLVED THE HOMOGENIZATION OF TRADE AND COMMERCE. PRIOR TO THE TRENDS IN GLOBALIZATION OF THE 20TH CENTURY, INTERNATIONAL TRADE AND EXCHANGE OF GOODS AND SERVICES WERE ALREADY PRACTICED. HARVEY (1990) SEES THAT CITY AND COUNTRIES WERE ABLE TO EXTEND THEIR REACH BEYOND BORDERS AND PATTERNS OF TRADE AND TECHNOLOGY BECAUSE OF DEVELOPMENTS IN SHIPPING AND NAVIGATION. THIS WAS OBSERVABLE IN THE DEVELOPMENT OF MARITIME TRANSPORT THROUGHOUT HISTORY. COLONIALISM AND IMPERIALISM ROSE AS THE NEW WAYS OF PUTTING ORDER TO THE ECONOMIC INTERRELATIONSHIPS AMONG COUNTRIES. EQUITY, CORPORATE OWNERSHIP, MANAGEMENT SUBSIDIARIES, AND CENTRAL HEADQUARTERS WHICH SUPPLY AND DISTRIBUTE GOODS AND SERVICES WERE ESTABLISHED THROUGH COLONIALISM. THE SPANISH GOVERNMENT IN THE 1960S, FOR INSTANCE MADE USE OF ITS COLONIES LIKE THE PHILIPPINES AND…arrow_forwardAsymmetrical violence (including terrorism) has historically accompanied eras of global economic expansion and rapid technological change. How might the technologies and movements of goods, people, and money that power globalization also inspire violence? What steps can be taken to mitigate reactionary movements to the forces of globalization? Is this violence nihilistic or simply âpolitics by other meansâ? How are economics likely to drive conflict in the future? in your answer, discuss global conflict from the end of the Cold War to the present.2.How would the global risk calculus of individuals, organizations, and governments shift if a weapon of mass destruction were detonated in a heavily populated city? The likelihood of such an event is high according to experts around the globe. Would such an event promote closer cooperation between countries in fighting the spread of WMDs or would it drive countries further apart and back within their…arrow_forward
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