SOC SCI 102: THE CONTEMPORARY WORLD 1.

The perspective of the person who

defines globalization shapes its
Defining Globalization (WEEK 1) definition.
2. Globalization is the debate, and the
debate is globalization.
What is Globalization? 3. Globalization is a reality.
 encompasses a multitude of processes
that involves the economy, political IMPORTANCE OF STUDYING
systems, and culture. GLOBALIZATION
 Can be classified as either broad and
inclusive or narrow and exclusive. 1. There is greater demand in business
and industry, health, engineering,
and technology to have people who
can work with people of other nations
BROAD AND INCLUSIVE
and cultures.
 borderless world or open world 2. There is a greater demand in business
and industry to other countries and if
• can bring influences upon people may need be, owners travel
bring about changes in the culture, independently and internationally
beliefs, traditions, and others. for promotion.
3. The contemporary world faces global
• gives everyone a chance to participate in
challenges that will take
the management in such a way that the
interdisciplinary groups to solve.
perspectives or plans of a country have
4. Creating meaningful, harmonious, and
reflected in their policies.
workable relationships that link globally
• leads to more secure opportunities and is an important aspect of the merits of
benefits to everyone. globalization.

NARROW AND EXCLUSIVE THE IMPORTANCE OF GLOBALIZATION FOR

EVERYONE
• limited to the country alone
1. Competition
• exclusivity is the restriction or the 2. Diverse Population
limitation within a group, area, or people.

• the focus of globalization would be

limited to the country alone. METAPHORS OF GLOBALIZATION

SOLID

• This refers to barriers that prevent or

make difficult the movement of things.
Furthermore, solids can either be natural
or man-made.

Example of man-made solid:

- Nine dash line - used by the People’s

Republic of China in their claim to the South
China Sea, this creates limited access of Filipino
fishers to the South China sea.

- Demilitarized zone - serves as a buffer zone

between North and South Korea.

LIQUIDS

• Refers to the increasing ease of

There are many points to consider when movement of people, things,
appreciating and understanding the information, and places in the
definition of globalization: contemporary world.
 - Refers to the transmission of ideas,
meanings and values across national
The contemporary world is characterized by the borders.
melting of solid phenomena and an increase in
liquidity. - Migration, food, sports

SOC SCI 102: THE CONTEMPORARY WORLD

Structure of Globalization (WEEK 2) POLITICAL GLOBALIZATION

- Refers to the increasing

interconnectedness and
3 Components of Economic Globalalization interdependence of countries around the
1. Economic Globalization world in terms of politics, laws, and
policies. As nations become more
2. Cultural/Social Globalization connected, their political decisions and
actions often have wider, global
3. Political Globalization
consequences, and vice versa
- It’s not only about collaboration; it’s also
about acknowledging the impact of
ECONOMIC GLOBALIZATION global networks on national policies and
the importance of countries working
- Widespread international movement of
together to ensure stability and tackle
goods, capital, services, technology and
global issues.
information.
- It is associated with massive amount of EXAMPLES OF POLITICAL
financially traded daily on the different GLOBALIZATION
stock markets around the label “NEW
ECONOMY” • European Union (EU)

• North American Free Trade Agreement

3 Institutions of Economic (NAFTA)
Globalization
• Association of Southeast Asian Nations
1. International Monetary Fund (IMF) (ASEAN)

2. International World Bank (IWB) • Southern African Development

Community
3. World Trade Organization (WTO)
(SADC)

International Monetary Fund (IMF) - IMF

main goal is to manage the global money European Union - This is one of the most
system, make sure currency exchange rates advanced forms of regional integration, with
stay stable, support global trade, and members sharing a common currency (Euro),
encourage countries to work together harmonized policies, and free movement of
financially. people, goods, services, and capital.

International World Bank (IWB) - Helps fight North American Free Trade Agreement
poverty and support development in poorer (NAFTA) - This agreement between the United
countries. Its main job is to provide money for States, Canada, and Mexico aimed to eliminate
projects that improve things like roads, schools, tariffs on most goods.
healthcare, and other areas that help countries
Association of Southeast Asian Nations
grow and thrive in the long run.
(ASEAN) - Aimed at promoting economic
World Trade Organization (WTO) - Is a growth, social progress, and cultural
global group that makes the rules for trade development among its member countries in
between countries. It started in 1995 and works Southeast Asia.
to help countries trade goods and services in a
Southern African Development Community
fair and easy way.
(SADC) - Focuses on economic growth, poverty
reduction, and security cooperation among its
member countries.
CULTURAL GLOBALIZATION
Technology
Technology has been a powerful catalyst for barrier and open up their current
economic globalization. It has transformed the accounts and capital accounts.
way businesses operate, connect, and interact
on a global scale.
BENEFITS OF GLOBAL ECONOMY

• Increase global investments

Consumers
• Free movement of labor
Consumers are crucial actors in facilitating
economic globalization because their • Reduced global inequality
preferences, purchasing power, and demand
drive the global economy.
FACTORS AFFECTING THE GLOBAL
ECONOMY
MODERN WORLD SYSTEM • natural resources
The Modern World System is a theoretical • infrastructures
framework developed by sociologist Immanuel
Wallerstein to understand the historical • population
development and structure of the global
economy, particularly from the 16th century • labor and human capital
onward. It describes the world as an • technology and law
interconnected system characterized by
economic and political inequalities between
different regions.

MARKET INTEGRATION
Different level of Modern World System
- -the market integration is an indicator
Core Countries - These are the rich and how much different markets are related
powerful countries. They control most of the to each other.
world's money and technology. - it occurs when prices among
different locations or related goods
Periphery - These are poorer countries that follow similar patterns over a long
often provide raw materials and cheap labor to period of time.
the core countries.

Semi – Periphery - These are somewhere in

between, trying to move up from being a
periphery country to a core country.

SOC SCI 102: THE CONTEMPORARY

WORLD

THE STRUCTURES OF GLOBALIZATION:

MARKET INTEGRATION (WEEK 3) Impact of Market Integration

- can reduce the cost of trade

- improve the availability of goods
GLOBAL ECONOMY
- employment opportunities
- refers to the international exchange
of goods and services
- also referred to as “world economy” Role of International Financial Institutions
- it may also define as the free movement in the Creation of Global Economy
of goods, capital, services, technology
and information. International Financial Institutions (IFI) are
- the global economy allows the world chartered by more than one country and
trade organization to happen. therefore are subjects to international law.
- creation of world trade organization
- World Bank Group
made countries cut down trade
- African Development Bank
- Asian Development Bank

- Inter-American Development Bank

- European Bank for Reconstruction and

Development

Membership Composition of International

Financial Institutions (IFIs):

- only sovereign countries are admitted as

member owner
- it has its own independent legal and
operational states

Main Objectives of International Financial

Institutions (IFIs): International Monetary
Fund and Multilateral Development Bank

 it provides temporary financial

assistance to member countries to help
ease balance of payments adjustments.

GLOBAL CORPORATIONS

 it is the one that operates in more than

one country and has centralized
management.
 focus on cultural sensitivity and
investment with diverse product.

Attributes of Global Corporations

Multinational Operations: has operating

facilities and sales networks in various countries

Global Product Strategy: developing

products and services that can be marketed and
adapted to different international markets.

Corporate Governance Practices:

implementing strong ethical and transparent
business practices across international
operations.

- networking and collaborations

- innovation on a global scale
- cross-border alliances

MICHAEL PORTER

 He is from Harvard that

defined global businesses or
corporations as the one that
maintains a strong
headquarters in one country
but has multiple foreign
locations.