THE

CONTEMPO
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WORLD
 THE
CONTEMPO
RARY
CHAPTER 1:

WORLD
G L O B A L I Z AT I O N D E F I N E D
Conceptions of Globalization
Definitions of Globalization
Philisophies of the definitions of Globalization
Learning
Objectives
1.Differentiate the competing
conception of globalizations;
2.Identify the underlying
philosophies of the varying
definition of globalizations; and
3.Agree on a working definition
for the course
WHat is
Globalization?
Is the increasing interaction of people, states or countries through the
growth of the international flow of money, ideas, and culture. Thus,
globalization is primarily focused on economic process of integration
that has social and cultural aspects.

It is the interconnectedness of It is the ability to move and

people and business across the communicate easily with
world that eventually lead to others all over the world in
global, cultural, political, and order to conduct business
economic integration. internationally.
 Globalization
where borders between
It is the free movement countries are reduced or
of goods, services, and eliminated for trade,
people across the world investment, and labor.
in a seamless and
integrated market

In such a system:
The goal is to create a unified global -Goods can be imported and exported
marketplace where economies are
without heavy restrictions or tariffs.
-Services like banking, IT, and consulting
interconnected, fostering efficiency and
can operate across countries without
economic growth. However, this also raises significant barriers.
challenges like regulation, cultural impact,
-People can move between countries for
work, travel, or study more easily.
and uneven benefits.
 Globalization refers to the concept of economic liberalization
or foreign direct investment (FDI) strategies. It
It refers to countries
highlights how countries try to attract
acting like magnets
attracting global capital international capital and investments by:
by opening up their
economies to Opening their economies: Reducing trade
multinational barriers, lowering taxes, and creating favorable
corporations regulations for foreign companies.
Acting like magnets: Offering incentives such as
This approach can boost tax holidays, relaxed labor laws, or access to
natural resources to lure multinational
economic growth but might also
corporations (MNCs).
lead to concerns about Fostering global competition: Encouraging MNCs
exploitation, environmental to set up operations, which brings capital,
technology, and jobs to the local economy.
impact, and the erosion of local
Globalization refers to a country's effort to relax regulations
or simplify protocols in key economic sectors to
It is the liberalization of
attract foreign investment. Here's what it
countries of their impact
protocols and welcome means:
foreign investment into
sectors that are 1. Liberalization of impact protocols:
mainstrays of its Loosening strict rules or bureaucratic
economy hurdles that may have previously
discouraged foreign investors. This could
involve environmental, trade, or labor
regulations.
Globalization refers to a country's effort to relax regulations
or simplify protocols in key economic sectors to
It is the liberalization of
attract foreign investment. Here's what it
countries of their impact
protocols and welcome means:
foreign investment into
sectors that are 2. Welcoming foreign investment: Opening
mainstrays of its up critical industries (such as
economy manufacturing, agriculture, energy, or
technology) to international investors, which
are vital to the country's economic stability
and growth.
 Globalization refers to a country's effort to relax regulations
or simplify protocols in key economic sectors to
It is the liberalization of
attract foreign investment. Here's what it
countries of their impact
protocols and welcome means:
foreign investment into
sectors that are 3. Mainstays of the economy: Refers to the
mainstrays of its core industries that significantly contribute
economy to the nation's GDP and employment. By
targeting these sectors, countries aim to
The goal is to boost economic enhance their competitiveness and attract
global capital.
growth and development, but it
can come with trade-offs like
potential overdependence on
foreign firms or concerns about
According to Martin Steger,

“the expansion and intensification of

social relations and consciousness across
world-time and across world-space.”

Globalization
 Globalization as
Positive
Phenomenon Globalization as
- as the process of world
Negative
shrinkage, of distances getting
shorter, things moving closer Phenomenon
(Thomas Larsson) -Globalization as
-onset of the borderless world colonization (Martin
(Ohmae)
Khor)
 Characteristics of Globalization
Economic
Integration
Global supply chains
Free trade across borders,
and multinational
reducing tariffs and trade
barriers. corporations operating
in multiple countries.

Increased flow of goods,

services, capital, and labor.
 Characteristics of Globalization
Cultural Exchange

Popularization of global
Spread of ideas, values, and
entertainment, cuisine,
cultural practices across
borders. fashion, and lifestyles.

Potential for cultural

homogenization or hybridization.
 Characteristics of Globalization
Technological
Advancements
Rapid growth of Easier access to global
communication technologies information, innovation,
like the internet and mobile
and research.
phones.

Enhanced transportation
systems connecting the
world faster.
 Characteristics of Globalization
Increased Mobility

Immigration and migration

Free movement of people
for work, education, and creating more diverse
tourism. populations in many
countries.

Enhanced transportation
systems connecting the
world faster.
 Characteristics of Globalization
Interdependence of
Nations
Economies are
interconnected, making
countries reliant on each
other.

Global issues like climate

change, pandemics, and
financial crises requiring
collective action.
 Characteristics of Globalization
Global Institutions and
Governance
Organizations like the
United Nations, World Trade
Organization, and World
Bank playing roles in
international cooperation.
Standardization of rules,
policies, and agreements.
 Characteristics of Globalization
Environmental Impact

Increased industrialization
and urbanization
contributing to climate
change and resource
depletion.
Awareness and initiatives
for sustainable
development at a global
level.
 Characteristics of Globalization
Social Inequalities

Uneven distribution of the

benefits of globalization,
with wealth concentrated in
developed countries.
Challenges like exploitation
of labor, widening income
gaps, and cultural
dominance.
 Origins and History of
Globalization
GLOBLIZATION 1.0:
Globalization 1.0 refers to the rapid growth in world
trade, mainly during the
Epochs nineteenth century or it can be called the pre-1914
period. It was driven by
innovations in transport and communications,
including the railways,
steamships and the electric telegraph which
further reduced the cost of
global transport and enabled the separation of
production and consumption
across international borders.
 Origins and History of
Globalization
GLOBLIZATION 2.0:
Globalization 2.0 or post 1945 era
Epochs refers to the international
industrialization after the Second
World War. It is driven by greater
international cooperation. The
post-war period saw less
protectionism and a rapid
growth in world trade, at least in
western economies.
 Origins and History of
Globalization
GLOBLIZATION 3.0:
The third wave of globalization
Epochs
(globalization 3.0) is thought to
have started around 1990.Which
was driven by advances in
technology, including the
spread of the internet.
 Origins and History of
Globalization
GLOBLIZATION 3.0:During this wave:
a. It was easy for different stages of
Epochs production to be based in various
locations across the globe, leading
to the emergence of modern supply
chains.
b. Firms were enabled to further cut
the cost of producing products and
delivering services by moving
their operations to cheaper
locations, known as offshoring.
 Origins and History of
Globalization
GLOBALIZATION 4.0
The current wave, Globalization
Epochs 4.0, is a set to be driven by
the Fourth Industrial Revolution,
which is happening right now. In
2011, the term Industry 4.0 was
introduced by the German
government and Siemens. Industry
4.0 shifts manufacturing away
from analog and mechanical
technologies and toward all things
Homogeneity- increasing sameness in Heterogeneity- pertains to the creation
the world as cultural inputs, economic of various cultural practices, new
factors, and political orientations of economies and political groups because
societies expand to create common of the interaction of elements from
practices, same economies and similar different societies in the world
forms of government.

Mcdonaldization- process by which

Western societies are dominated by the
principles of fast food restaurants to gain

THEORIES
profits, power, and so on
 Dynamics of Globalization
•Cultural Hybridization-
•Cultural Convergence- tendency
integration of local and global
for culture or become
cultures; interpenetration of
increasingly similar with passage
the global and local
of time
“glocalization”

•Cultural Differentialism-
•Appadurai’s “scapes” global
cultures are different and are
flows involves people,
only superficially affected by
technology, finance, political
global flows “catastrophic
images and media
collision” Samuel Huntington
•Cultural Imperialism- John
Tomlinson
“deterritorialization” of
culture
Ethnscape – Mediascape- is Technoscape – Financescape – Ideoscape – is
refers to the about the flow refers to the denotes the the realm where
global of culture circulation of global political ideas
movement of mechanical circulation of move around.
people goods and money
software
MERITS OF
GLOBALIZATION
1.An open economy super fast
innovation with fresh ideas from
abroad
2.Exports jobs often pay more
than other jobs
3.Productively grows more quickly
when countries produce goods
and services in which they are
comparative advantageous
DEMERITS OF
GLOBALIZATION
1.Exploitation of
Underdeveloped countries.
2.Widening of Rich- Poor Gap
3.Harmful effects on small
industries and small business
 Paucek and Lage

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