The Contemporary World Notes PDF
The Contemporary World Notes PDF
⮚ Globalization means the onset of borderless e.g., stock market, unstoppable social media
world (broad and inclusive) uploads
⮚ The characteristics of the globalization trend ⮚ Are movement of people, things, places, and
include the internationalizing of production, information brought by the growing
the new international division of labor, new “porosity” of global limitations (Ritzer, 2015)
migratory movements from south to north,
the new competitive environment that e.g., patronizing foods introduced by foreign
accelerates these processes, the cultures
internationalizing of the state. Making states GLOBALIZATION THEORIES
into agencies of globalization (narrow and
exclusive) HOMOGENEITY
⮚ In the 11th century, the long-distance trading ⮚ There is a growing literature on the
flourished between Venice and the resistance to globalization by consumer
Netherlands. groups, activists, and transnational social
movements.
⮚ The woolen industry in the 13th century in
Flanders ⮚ Therborn (2000) expressed, “There are many
theories related to economic sociology
⮚ 14th century in Florence incorporate the global economy in their
frameworks, but they differ in the degree to
⮚ Those global changes have contributed which it is conceptualized as a system that
much to the economy of the world. There shapes the behavior and motivation of actors
was the birth of CAPITALISM. inside it, or as an arena where nationally
determined actors meet, interact, and
In Gary Gereffi’s journal:
influence each other.”
The Global Economy: Organization, Governance,
According to world-systems theory, the upward
and Development
or downward mobility of nations in the core,
➢ He mentioned that the global changes are semi periphery, and periphery is determined by
attributed to how the global economy is a country’s mode of incorporation in the
organized and governed. He furthered that capitalist world-economy, and these shifts can
these changes give impact not only to the only be accurately portrayed by an in-depth
flow of goods and services across national analysis of the cycles of capitalist accumulation
borders, but also the implications of these in the longue durée of history (Wallerstein 1974,
processes for how a particular country move 1980, 1989; Arrighi 1994).
up or down in the international scene.
1. CORE Countries for periphery countries to rise out of their status
and move into semi-periphery or core status. This
In world systems theory, the core countries are the can be done by doing things such as industrializing,
industrialized capitalist countries on which stabilizing the government and political climate, etc.
periphery countries and semi-periphery countries
depend. Core countries control and benefit from the Periphery countries as listed in the appendix of
global market. They are usually recognized as "Trade Globalization since 1795: waves of
wealthy nations with a wide variety of resources and integration in the world-system" that appeared in
are in a favorable location compared to other states. the American Sociological Review (Dunn, Kawana,
They have strong state institutions, a powerful Brewer (2000)).[18]
military and powerful global political alliances.
WEEK 3 MARKET INTEGRATION INTERNATION
FINANCIAL INSTITUTIONS
AGREEMENT ON TRADE-RELATED INVESTMENT ⮚ A firm that has the power to coordinate and
MEASURES (TRIMS) are rules that apply to the control operations in more than two
domestic regulations a country applies to foreign countries, even if it does not own them.
investors, often as part of an industrial policy.
⮚ Global corporations
➢ These are range of operating or performance
INTERNATIONAL STANDARD ORGANIZATION
measures that host-country governments
(ISO)
impose on foreign firms to keep them from
having distorting effect on trade in goods ⮚ An international institute of technical
and services. standards that sustain and vindicate the
quality assurance of the goods and services
International Monetary Fund (IMF)
available in the global market.
➢ It deals with exchange rates, balances of
WEEK 4 GLOBAL INTERSTATE SYSTEM
payments, international capital flows, and
the monitoring of member states and their “Global Interstate System” is a system of
macroeconomic policies. competing and allied states around the
world.
WORLD BANK (WB)
The word “global” refers to the interaction
➢ It provides funds to government-sponsored
networks in which people live, whether these
or guaranteed programs in so-called Part II
are spatially small or large around the world.
(member states that are middle-income or
“Interstate” explains the connections and
creditworthy poorer nations).
operations between states, and “system”
means that these policies and settlements
are interacting with one another in
important ways; interactions are two-way,
necessary, structured, regularized, and
reproductive.
Systemic interconnectedness exists when Sovereign states are experiencing increased
lives of the people in the jurisdiction and of difficulties in supplying regulatory and
others are significantly affected and redistributive public goods and establishing
influenced through the interactions, this is and enforcing property rights in the face of
pivotal for social continuity and/or social relatively open trade, rapid information-
change. technology advances, and considerable
financial deregulation.
This system imposes a check and balance of
power such that no state-system would be Moreover, both market relations and
able to monopolize the world economy and political discontent with economic policies
everyone would have a fair share of have virtually become “borderless.”
resources and opportunities, this means that
the economy, production in focus to the The international system has now become
factors of production cannot be constrained less state-centric that makes a way into the
to a degree of political monopoly. political constitution of domestic policies.
Notably, the advancements in technology
WEEK 5 GLOBAL CONTEMPORARY GOVERNANCE and its innovations have increased the speed
of the migration and transplantation of legal
Globalization is a rich and a broad concept rules and policies.
and may be defined in various perspectives.
It cannot be denied that globalization has The transnational actors, which are non-
made a tremendous impact on the sovereign state, such as the intergovernmental
state. Fowler and Bunck (1996) emphasized organizations (IGOs), international
that a sovereign state has a territory, the nongovernmental organizations (INGOs),
people, and a government. and transnational corporations (TNCs) have
assumed relevant roles in global
Any state admitted as a member of the governance. They have created
United Nations will be upon the decision of transnational law that runs many
the General Assembly as recommended by dimensions of the political economy that
the Security Council. The United Nations was once governed by the sovereign states.
membership requirements are
The Rome statute of the International
(1) the state must be a peace-loving state Criminal Court (ICC) upholds the principle of
which accepts the obligations contained in complementarities and recognizes that
the present Charter, and states do not have to collaborate with the
(2) in the judgment of the Organization, court unless they have ratified the statute.
must be able and willing to carry out these However, this is only part of the picture.
obligations. The establishment of special hybrid courts in
Chapter 2, Article 4 of the United Nations Cambodia, East Timor, Lebanon, and Sierra
Charter states that only sovereign states can Leone means that states no longer see
become members of the United Nations. sovereign state law alone as a sufficient
Although all UN members are fully sovereign means of punishing serious war crimes.
states at the present, the Belarus, India, The decisions of international judges and
Philippines, and Ukraine- four of the original prosecutors now permeate and shape the
members- were not independent at the time domestic criminal law of these countries.
of their admission in the organization. William Burke-White further asserts that the
Even from the seventeenth century, the legal ICC has become part of a system of multilevel
framework of a sovereign state has served as global governance through its alteration of
a definitive ground for political governance state preferences and policies and its
and economic system. deterrence of future crimes through judicial
and prosecutorial pronouncements.
Sovereignty has been constitutionally used
both on national and international levels. International law has evolved into a central
The intercontinental spread of capital and framework for the emergent system of global
the formation of global markets have governance. This system supplies the
eventually substituted the fragmented normative mechanisms for the
national economies. establishment of IGOs and the facilitation of
the international response to issues as
diverse as nuclear proliferation, climate
change, ocean use, and the functioning of the
world trade system.