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Lesson III

The document outlines the key actors in economic globalization, categorizing them into state actors, such as governments, and non-state actors, including international economic organizations, multinational companies, central banks, and civil society. It discusses the roles of various organizations like the IMF, World Bank, and WTO in promoting globalization and economic policies. Additionally, it introduces World System Theory, which analyzes the global economy's structure, dividing countries into core, peripheral, and semi-peripheral nations.

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5 views29 pages

Lesson III

The document outlines the key actors in economic globalization, categorizing them into state actors, such as governments, and non-state actors, including international economic organizations, multinational companies, central banks, and civil society. It discusses the roles of various organizations like the IMF, World Bank, and WTO in promoting globalization and economic policies. Additionally, it introduces World System Theory, which analyzes the global economy's structure, dividing countries into core, peripheral, and semi-peripheral nations.

Uploaded by

mahathirloong
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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UNIT II: STRUCTURES OF

GLOBALIZATION
Crave Ivanheart A. Cañon
Who are the Actors that facilitate Economic
Globalization?

There are two types of actors that


facilitate Economic Globalization, namely
State Actors and Non-State Actors.
STATE ACTORS

Governments:
These are the most traditional actors in
international relations. They have sovereign
power within their borders and make laws,
regulations, and policies that affect globalization.
They also negotiate trade agreements, participate
in international organizations, and can influence
the flow of goods, services, capital, and people
across borders.
NON-STATE ACTORS

These are entities that are not part of the


government but still have a significant impact
on globalization.
NON-STATE ACTORS

1. International Economic Organizations


2. Multinational Companies (Private sectors)
3. Central Banks
4. Civil Society
1. INTERNATIONAL ECONOMIC
ORGANIZATIONS

International Economic Organizations are important


in developing and pushing for neoliberal policies
among different countries, and it includes
International Monetary Fund (IMF), World Bank,
World Trade Ortganization, and Organization for
Economic Cooperation and Development (OECD).
INTERNATIONAL MONETARY FUND

And International Organization of 183 member


countries to promote international monetary
cooperation and exchange stability; to foster
economic growth and high employment; and to
provide short-term financial assistance to
countries to help ease balance of payments
adjustment (IMF, 2019).
WORLD BANK

This is a major source of financial and


technical assistance to developing countries.
It provides loans and grants for a wide range
of projects, aiming to reduce poverty and
promote economic development.
World Bank Headquarter
WORLD TRADE ORGANIZATION

The WTO sets the rules for international trade.


It aims to reduce barriers to trade, such as
tariffs and quotas, and to ensure that trade
flows smoothly and predictably. It's the main
forum for negotiating and enforcing trade
agreements between countries.
WTO Headquarters
Organization for Economic Cooperation and
Development

The OECD's mission is to promote policies that


improve the well-being of people around the world
through economic growth. It provides a forum for
governments to discuss and coordinate economic
policies, and it collects and analyzes data on a wide
range of economic and social issues.
OECD Headquarters
2. MULTINATIONAL COMPANIES

Multinational companies (MNCs) are large


corporations that operate in multiple countries. They
have a centralized management structure and a
global mindset. MNCs are companies that have a
presence and conduct business in multiple countries
around the world. This goes beyond just exporting –
they often have offices, factories, and even research
facilities in different nations.
3. CENTRAL BANKS

Central banks are like the guardians of a country's


financial system. They work to keep prices stable,
promote economic growth, and ensure the health of
the banking sector. Their actions have a big impact
on everyone's financial lives.

They are considered one of the most powerful


institutions in the world economy since they can lead
economic development.
Central Banks

In most countries, the central bank is responsible for


issuing currency. They are the ones who decide how
much money needs to be printed and oversee the
whole process. Examples include the Federal
Reserve in the US, the European Central Bank in
Europe, and the Bangko Sentral ng Pilipinas in the
Philippines.
4. CIVIL SOCIETY

Global civil society seen as either composed of individuals or


groups of individuals disadvantaged by the effects of the
globalization of the world economy, they protest and seek
alternatives while on the other hand, global social movement
constituting a basis for an alternative to a new world order.
(Gherghel, n.d.).

Global civil society refers to the sphere of organizations,


networks, and movements that operate internationally and
advocate for social justice, human rights, and environmental
sustainability.
MODERN WORLD SYSTEM

World System Theory, developed by Immanuel Wallerstein


is a theoretical framework that seeks to understand the
dynamics of the global political economy. It emerged in the
1970s as a critique of modernization theory, which he
argued that all countries would eventually develop along a
similar path.

The theory emphasizes the ways in which the global


economy is structured by power relations between rich and
poor countries.
MODERN WORLD SYSTEM

The world economy, according to Wallerstein,


is divided into core nations, peripheral
nations, and semi-peripheral nations.
CORE NATIONS

Core countries are the wealthy, industrialized


countries that dominate the global economy. They
have strong economies, advanced technology, and
high levels of education and productivity. They also
have the ability to shape the global political economy
and set the rules of the game.

Examples of core countries include the United States, Western Europe,


and Japan.
PERIPHERAL NATIONS
Periphery countries are the poorer, less developed
countries that are dependent on the core for
economic growth. These countries have weaker
economies and less advanced technology, and they
often rely on exporting raw materials to the core for
their economic survival. They also have less agency
and are more vulnerable to external shocks.

Examples of peripheral countries include many countries in Africa, Latin


America, and Asia.
SEMI-PERIPHERAL NATIONS

Semi-periphery countries are intermediate between


core and peripheral countries in terms of economic
development and power in the global economy. They
have a mix of advanced and underdeveloped
economic sectors and may be involved in both
exploiting peripheral countries and being exploited
by core countries.

Examples of semi-periphery countries include Brazil, China, and South


Africa.
DEPENDENCY THEORY

The World System Theory was also influenced by the


dependency theory, which was developed by Latin
American scholars in the 1960s. Dependency
theorists argued that peripheral countries are
trapped in a cycle of poverty, in which they are
unable to develop their own industries and are
instead forced to rely on exports of raw materials to
the core.
Thank You!

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