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The Contemporary World

1) This document discusses key concepts related to globalization and the contemporary world, including reasons for studying globalization, definitions of globalization, and dimensions of globalization. 2) It provides definitions and explanations of globalization from scholars like Manfred Steger, who defined it as social processes that appear to transform nationality into globality through expanding and intensifying social relations across world-time and space. 3) Key events and periods discussed include the establishment of the galleon trade in 1571, which marked the beginning of the age of globalization, as well as Bretton Woods and the gold standard, and their roles in international monetary systems and the Great Depression.
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0% found this document useful (0 votes)
189 views8 pages

The Contemporary World

1) This document discusses key concepts related to globalization and the contemporary world, including reasons for studying globalization, definitions of globalization, and dimensions of globalization. 2) It provides definitions and explanations of globalization from scholars like Manfred Steger, who defined it as social processes that appear to transform nationality into globality through expanding and intensifying social relations across world-time and space. 3) Key events and periods discussed include the establishment of the galleon trade in 1571, which marked the beginning of the age of globalization, as well as Bretton Woods and the gold standard, and their roles in international monetary systems and the Great Depression.
Copyright
© © 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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political and cultural interconnections

The Contemporary World and global flows


3. Globalism
✓ Means globalization as an ideology
reflecting shared ideas, norms, values
3 reasons why we study globalization and the being accepted as a beneficial truth.
Contemporary World:

1. Studying the outside world is necessary to


prevent a perspective that is only limited to
one's immediate community. DIMENSIONS OF GLOBALIZATION
2. It is important to study the world because it can
teach you more about yourself. 1. Economic- refers to the expansion of capitalism
3. You need to the study the world because you to include all places around the world
will be interacting it. 2. Cultural- refers to the global spread and
integration of ideas, values, norms, behaviors
and ways of life
Globalization 3. Political- refers to the development of forms of
- an ongoing process that involves governance that operate at the global scale
Interconnected changes in the economic, 4. Ecological- examines the effects of global
cultural, social, and political spheres of society. alliances on ecological issues.
- Involves the ever-increasing integration of these
aspects between nations, regions, communities,
and seemingly isolated places. Arjun Appuradai- According to him, globalization occur
on multiple and intersecting dimensions of integration
Manfred Steger that he calls “scapes”
- wrote the one of the most popular definitions 1. Ethnoscape- global movement of people
of globalization 2. Mediascape- flow of culture
- “Globalization is a set of social processes that 3. Technoscape- circulation of mechanical goods
appear to transform our present social and software
condition of weakening nationality into one 4. Financescape- global circulation of money
globality.” 5. Ideoscape- realm where political ideas move
- About the unprecedented compression of time around.
and space
- Further defines “Globalization as the expansion
and intensification of social relations and When nationalists are resisting "globalization," it
consciousness across world-time and world usually refers to the integration of the national markets
space” to a wider global market signified by the increased free
- “Globalization processes does not occur trade.
merely at an objective, material level but they
also involve the subjective plane of human When activists refer to the "anti-globalization"
consciousness” movement of the 1990s, they mean resisting the trade
- deals among countries facilitated and promoted by
global organizations like the World Trade Organization.
Expansion- creation of new networks and multiplication
of existing connections

Intensification- expansion, stretching and acceleration International Monetary Fund (IMF)


of these networks
- regards "economic globalization" as a historical
process representing the result of human
innovation and technological progress.
DIFFERENCES OF THE THREE - It is characterized by the increasing integration
1. Globalization of economies around the world through the
✓ Processes by which the peoples of the movement of goods, services, and capital across
world are incorporated into a single borders.
world society, global society. - These changes are the products of people,
2. Globality organizations, institutions, and technologies.
✓ Signifies a future social condition - According to the IMF, the value of trade (goods
characterized by thick economic, and services) as a percentage of world GDP
increased from 42.1 percent in 1980 to 62.1 and other European nations at an international
percent in 2007. monetary conference in Paris.
- Increased trade also means that investments - Broadly, its goal was to create a common
are moving all over the world at faster speeds. system that would allow for more efficient
trade and prevent the isolationism of the
United Nations Conference on Trade and Development
mercantilist era.
(UNCTAD)

- According to them, the amount of foreign direct


investments flowing across the world was US$ Great Depression
57 billion in 1982 By 2015, that number was
- started during the 1920s and extended up to
$1.76 trillion
the 1930s, further emptying government
- These figures represent a dramatic increase in
coffers.
global trade in the span of just a few decades.
- This depression was the worst and longest
recession ever experienced by the Western
world.
International Trading Systems
- largely caused by the gold standard, since it
- Silk Road (oldest known international trade limited the amount of circulating money and,
route) a network of pathways in the ancient therefore, reduced demand and consumption.
world that spanned from China to what is now
the Middle East and to Europe.
Barry Eichengreen

- Economic historian
Dennis O. Flynn and Arturo Giraldez
- argues that the recovery of the United States
- According to these historians, the age of really began when, having abandoned the gold
globalization began when "all important standard, the US government was able to free
populated continents began to exchange up money to spend on reviving the economy.
products continuously, both with each other
directly and indirectly via other continents and
in values sufficient to generate crucial impacts Fiat currencies- currencies
on all trading partners.”
- Today, the world economy operates based on
- Flynn and Giraldez trace this back to 1571 with
this system
the establishment of the galleon trade that
- are not backed by precious metals and whose
connected Manila in the Philippines and
value is determined by their cost relative to
Acapulco in Mexico."
other currencies.
- This system allows governments to freely and
actively manage their economies by Increasing
The galleon trades
or decreasing the amount of money in
- was part of the age of mercantilism. circulation as they see fit.
- From the 16th century to the 18th century,
countries, primarily in Europe, competed with
one another to sell more goods as a means to Stagflation
boost their country's income (called monetary
- The result was a phenomenon that Keynesian
reserves later on)
economics could not have predicted
- To defend their products from competitors who
- a decline in economic growth and employment
sold goods more cheaply, these regimes (mainly
(stagnation) takes place alongside a sharp
monarchies) imposed high tariffs, forbade
increase in prices (inflation).
colonies to trade with other nations, restricted
trade
Friedrich Hayek and Milton Friedman
Mercantilism- was thus also a system of global trade
with multiple restrictions. - argued that the governments' practice of
pouring money into their economies had
caused inflation by increasing demand for
Gold Standard goods without necessarily increasing supply.
- More profoundly, they argued that government
- When they adopted this, a more open trade
intervention in economies distort the proper
system emerged in 1867 when, following the
functioning of the market.
lead of the United Kingdom, the United States
Friedman September 2008- This dangerous cycle (mortgage-
backed securities MBS) reached a tipping point when
- Economist who used the economic turmoil to
major investment banks like Lehman Brothers
challenge the consensus around Keynes's ideas.
collapsed, thereby depleting major investments.
Neoliberalism
2007 to 2008- Iceland's debt increased more than
- emerged as a new form of economic thinking seven-fold.
- From the 1980s onward, neoliberalism became
Spain and Greece- are heavily indebted until now
the codified strategy of the United States
(almost like Third World countries), and debt relief has
Treasury Department, the World Bank, the IMF,
come at a high price.
and eventually the World Trade Organization.
Greece- has been forced by Germany and the IMF to
World Trade Organization- a new organization founded
cut back on its social and public spending.
in 1995 to continue the tariff reduction under the GATT.
United States- recovered relatively quickly thanks to a
Washington Consensus
large Keynesian-style stimulus package that President
- The policies they forwarded Barack Obama pushed for in his first months in office.
- dominated global economic policies from the
1980s until the early 2000s.
- advocates pushed for minimal government Marine Le Pen's Front National (in France)- a far right
spending to reduce government debt. party that have risen to prominence by unfairly blaming
- They also called for the privatization of immigrants for their woes, claiming that they steal jobs
government-controlled services like water, and leech off welfare.
power, communications, and 'transport,
Exports- make national economies grow at present.
believing that the free market can produce the
best results. United States, Japan, and the member-countries of the
- Advocates of the Washington Consensus European Union were responsible for 65 percent of
conceded that, along the way, certain industries global exports
would be affected and die, but they considered
this "shock therapy” necessary for long- term Developing countries only accounted for 29 percent
economic growth. 2011- developing countries like the Philippines, India,
China, Argentina, and Brazil accounted for 51 percent of
global exports while the share of advanced nations-
Advocates of Neoliberalism including the United States--had gone down to 45
percent."
1. US President Ronald Reagan
2. British Prime Minister Margaret Thatcher- Trade liberalization – The WTO-led reduction of trade
promoted an image of herself as a mother, who barriers, has profoundly altered the dynamics of the
reined in overspending to reduce the national global economy.
debt.
According to the IMF, the global per capita GDP rose
justified their reduction in government spending by over five-fold in the second half of the 20th century. It
comparing national economies to households. was this growth that created the large Asian economies
like Japan, China, Korea, Hong Kong, and Singapore.

And yet, economic globalization remains an uneven


Post-communist Russia
process with some countries, corporations, and
- Example of the defects of the Washington individuals benefiting a lot more than others.
Consensus
Developed countries- are often protectionists, as they
- After Communism had collapsed in the 1990s,
repeatedly refuse to lift policies that safeguard their
the IMF called for the immediate privatization
primary products that could otherwise be overwhelmed
of all government industries.
by imports from the developing world.

Russia's case- was just one example of how the "shock


The beneficiaries of global commerce have been mainly
therapy" of neoliberalism did not lead to the ideal
transnational corporations (TNCs) and not
outcomes predicted by economists who believed in
governments.
perfectly free markets.
Transnational corporations- are concerned more with
The greatest recent repudiation of this thinking was the
profits than with assisting the social programs of the
recent global financial crisis of 2008-2009
governments hosting them.

"Race to the bottom"- refers to countries' lowering


their labor standards, including the protection of
workers' interests, to lure in foreign investors seeking
high profit margins at the lowest cost possible.

Governments weaken environmental laws to attract


investors, creating fatal consequences on their
ecological balance and depleting them of their finite
resources (like oil, coal, and minerals).

International economic integration

- is a central tenet of globalization.


- crucial to the process that many writers and
commentators confuse this integration for the
entirety of globalization.

Economics – is just one window into the phenomenon


of globalization; it is not the entire thing.

Global culture- for example, is facilitated by trade.


Filipinos would not be as aware of American culture if
not for the trade that allows locals to watch American
movies, listen to American music, and consume
American products.

CONCLUSION

Given the stakes involved in economic globalization, it is


perennially important to ask how this system can be
made more just. Although some elements of global free
trade can be scaled back, policies cannot do away with
it as a whole. International policymakers, therefore,
should strive to think of ways to make trading deals
fairer. Governments must also continue to devise ways
of cushioning the most damaging effects of economic
globalization, while ensuring that its benefits accrue for
everyone.
HISTORY OF GLOBAL POLITICS 3. Has a structure of government
4. Has sovereignty over its territory

Internalization
Nation
- deepening interactions between states
- one window to view the globalization of politics - according to Benedict Anderson, is an
- one window into the broader phenomenon of “imagined community”
globalization - It is limited, because it does not go beyond a
given “official boundary”
States/Governments- key drivers of global processes
- Allows one to feel a connection with a
community of people even if he/she will never
meet all of them in his/her lifetime.
FOUR ATTRIBUTES OF WORLD POLITICS

1. States that are independent and govern


themselves Sovereignty- one of the fundamental principles of
2. Countries interact with each other through modern state politics
diplomacy
Treaty of Westphalia- set of agreements signed in 1648
3. International Organizations that facilitate these
to end the Thirty Years War between the major
interactions
continental powers of Europe
4. Facilitating meetings between states
Westphalian system- provided stability for the nations
of Europe
UN or United Nations- meeting ground for presidents
Napoleon Bonaparte- believed in spreading the
and other heads of state
principles of the French Revolution (liberty, equality,
and fraternity)

ACRONYMS THAT YOU NEED TO KNOW Napoleonic Wars- lasted from 1803-1815 with
Napoleon and his armies marching all over much of
1. WHO- World Health Organization Europe
2. UN- United Nations
3. ILO- International Labour Organization Napoleonic Code- forbade birth privileges, encouraged
4. IO- International Organizations freedom or religion and promoted meritocracy in
5. UNHCR- United Nations High Commissioner for government service
Refugees
Anglo and Prussian armies- defeated Napoleon in the
6. WMD- Weapons of Mass Destruction
Battle of Waterloo in 1815, ending the latter’s mission
7. NATO- North Atlantic Treaty Organization
to spread his liberal code across Europe
8. OPEC- Organization of the Petroleum Exporting
Countries Concert of Europe
9. NAM- Non-aligned Movement
- alliance of “great powers”
10. IMF- International Monetary Fund
✓ United Kingdom
11. ASEAN- Association of Southeast Asian Nations
✓ Austria
12. NAFTA- North American Free Trade Agreement
✓ Russia
13. APEC- Asia-Pacific Economic Council
✓ Prussia
- Sought to restore the world monarchical,
hereditary and religious privileges…
Nation-state
- Sought to retore the sovereignty of states
- “country”
- Modern phenomenon in human history
- Composed of 2 non-interchangeable terms. Metternich System
- “Not all states are nations and not all nations
- Named after Klemens von Metternich
are states”
- The Concert’s power and authority lasted from
State- refers to a country and its government 1815 to 1914, at the dawn of World War 1

FOUR ATTRIBUTES OF STATE

1. Exercises authority over a specific population Klemens von Metternich


called citizens
- Austrian diplomat
2. Governs a specific territory
- The Metternich system’s main architect
✓ Hirohito’s Japan

Westphalian and Concert systems- divided the world ALLIED POWERS


into separate, sovereign entities.
✓ United States
Internationalism- desire for greater cooperation and ✓ United Kingdom
unity among states and peoples. ✓ France
✓ Holland
TWO BROAD CATEGORIES OF INTERNATIONALISM
✓ Belgium
1. Liberal Internationalism

Immanuel Kant

- German philosopher that was the first major


Task specific international organizations and serves as
thinker
the blueprint for future forms of international
- Likened states in a global system to people
cooperation.
living in given territory
- Imagined a form of global government 1. WHO- World Health Organization
2. ILO- International Labour Organization
Jeremy Bentham
League- was the concretization of the concepts of
- British philosopher
liberal internationalism
- Coined the word “international” in 1780
- Advocated the creation of “international law” Kant- emphasized the need to form common
- Believed that “the greatest happiness of all international principles
nations taken together”
Mazzini- enshrined the principles of cooperation and
Giuseppe Mazzini respect among nation-states

- Italian patriot Wilson- called for democracy and self-determination


- First thinker to reconcile nationalism with
liberal internationalism
- Advocate of a unification of the various Italian- Karl Marx
speaking mini-states and a major critic….
- Believed in a Republican government - Mazzini’s biggest critics
- Proposed a system of free nations - German socialist philosopher
- Free, independent states would be the basis of - Differed from the former because he did not
an equally free, cooperative international believe in nationalism
system - Any true form of internationalism should
deliberately reject nationalism
Woodrow Wilson - Divide the world into classes, instead of
countries
- Influenced by Mazzini
- Capitalist class- owners of factories, companies
- United states president (1913-1921)
and other “means of production”
- Most Prominent internationalist
- Proletariat Class- do not own a “means of
- Saw nationalism as a prerequisite for
production” they work for the capitalists
internationalism
- Friedrich Engels- co author of Marx, believed
- Forwarded the “principle of self-determination”
that in socialist revolution seeking to overthrow
- Principle of self-determination- the belief that
the state and alter the economy, the
the world’s nations had a right to a free, and
“proletariat” has no nation.
sovereign government.
- Most notable advocate for the creation of the
League of Nations
- Pushed to transform the League into a venue 2. Socialist Internationalism
for conciliation and arbitration to prevent
another war
- Awarded the Nobel Peace Prize in 1919 Socialist International (SI)- a union of European
socialist and labor parties established in Paris in 1889.

SI’s ACHIEVEMENTS
AXIS POWERS- ultra nationalists that had an instinctive
disdain for internationalism 1. Labor Day
2. International Women’s Day
✓ Hitler’s Germany 3. 8-hour workday
✓ Mussolini’s Italy
FIVE ACTIVE ORGANS OF UNITED NATIONS

Russian Revolution of 1917 1. General Assembly (GA)


✓ main deliberative policymaking and
Czar Nicholas II- was overthrown and replaced by a
representative organ
revolutionary government by the Bolshevik Party
✓ GA President will serve 1 year term of
Vladimir Lenin- was the leader of Bolshevik Party office
✓ Currently 193 member states
Union of Soviet Socialist Republics (USSR)-a more ✓ Carlos P. Romulo- a Filipino who was
radical version that emerged when the SI collapsed. elected as a GA president from 1949-
“The new state” 1950
Communist Parties- leading revolutions across the
world using methods of terror 2. Security Council
✓ Consists of 15 member states
Lenin- established the Communist International ✓ Takes the lead in determining the
(Comintern) in 1919 existence of a threat to the peace or an
Communist International- served as the central body act of aggression
for directing Communist parties all over the world. ✓ GA elects 10 of these 15 to 2-year terms
✓ PERMANENT FIVE
1941- Soviet Union joined the Allied Powers ➢ China
➢ France
Joseph Stalin
➢ Russia
- Lenin’s successor, dissolved the Comintern in ➢ United Kingdom
1943 ➢ United States
- Re-established the Comintern as the ✓ Heir to the tradition of “great power”
Communist Information Bureau (Cominform) diplomacy that began with the
Metternich/Concert of Europe system

THE UNITED NATIONS AND CONTEMPORARY GLOBAL


GOVERNANCE 3. Economic and Social Council
4. Trusteeship Council
5. Secretariat
International Organizations- international
intergovernmental organizations or groups that are
primarily made up of member-states Bashar al-Assad

- A Syrian President
- An ally of Russian dictator Vladimir Putin
SCHOLARS WHO LISTED POWERS OF IO’s

1. Michael N. Barnett
2. Martha Finnemore

WORLD OF REGIONS
POWERS OF IO’s

1. Power of Classification- can invent and apply Regionalism


categories, they create powerful global
- often seen as a political and economic
standards. Example: UNHCR
phenomenon.
2. Power to Fix Meanings- “security” and
- Can be examined in relation to identities, ethics,
“development” need to be well-defined
religion, ecological sustainability and health.
3. Power to Diffuse Norms- Norms are accepted
- Means that regions are not natural nor given
codes of conduct

Edward D. Mansfield and Helen V. Milner- state that


Joseph Stiglitz
economic and political definitions of regions vary
- Nobel Prize-winning economist
Regions
- Criticized the IMF for using a “one size fits all”
- “a group of countries located in the same
geographically specified area”
- “Amalgamation of two regions “
- “Oversee flows and policy choices”

Regionalization- regional concentration of economic


flaws

Regionalism- a political process characterized by


economic policy cooperation and coordination among
countries

REASONS WHY COUNTRIES FORM REGION

1. Military Defense
✓Ex. NATO- widely known defense grouping
✓Warsaw Pact- The Soviet Union responded
by creating its regional alliance

2. Pool Resources
✓ Ex. OPEC (1960)- regulate production
and sale of oil

3. Protection of Independence
✓ Ex. NAM (1961)- pursue world peace

4. Economic Crisis

Non-state Regionalism/ “new regionalism”

- Tiny associations that include no more than a


few actors and focus on a single issue
- Rely on the power of individuals
- Who shares the same values, norms,
institutions and system

Legitimizers-

- those who work with governments


- participate in “institutional mechanisms that
afford some civil society groups”

Regional Interfaith Youth Networks- promoted conflict


prevention, resolution, peace education and sustainable
development

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