TCW - Unit 1
TCW - Unit 1
/kənˈtempəˌrerē/
THE CONTEMPORARY CONTEMPORARY
WORLD adjective adjective
Years since the Second World War, and especially during the Effects?
past two decades:
Example:
on environment,
governments have adopted free-market economic systems
on culture, People are engaged in buying and selling from other places
Governments have negotiated dramatic reductions in barriers
on political systems, in far-away lands like the famed Silk Road across Central Asia
to commerce and established international agreements to
on economic development and prosperity, that connected China and Europe during the Middle Age for
promote trade in goods, services, and investment
and on human physical well-being in societies around the world thousands of years and they also invested in enterprises in other
corporations have built foreign factories and established
production and marketing arrangements with foreign partners countries for centuries.
international industrial & financial business structure = a defining feature of globalization Globalization is about growing worldwide connectivity.
Before outbreak of First World War 1914 and CURRENT WAVE TECHNOLOGY Unit 1 - INTRODUCTION TO GLOBALIZATION
SIMILIARITIES: an increase cross border- trade, investment, and Globalization Concepts, Meanings, Features, and
a principal driver of globalization
migration due to policy and technical developments transform economic life Dimensions
-process in which people, ideas and goods spread throughout the world,
DIFFERENCE(S): Today’s globalization is farther, faster, cheaper, information technologies provide all sorts of economic factors spurring more interaction and integration between the world's cultures,
and deeper (consumers, investors, businesses, analyses of economic trends, governments and economies
easy transfers of assets, collaboration with far-flung partners, etc.)
-a process of interaction and integration among the people, companies,
Example: and governments of different nations, a process driven by international
Since 1950, the volume of world trade has increased by 20 times Globalization is the process of integration of economies across the trade and investment and aided by information technology
and from 1997 to 1999, flows of foreign investment nearly doubled world throughcross-border flow of factors product and information
from $468 billion to $827 domestically.
Globalization Concepts, Meanings, Features, and Globalization Concepts, Meanings, Features, and
Dimensions Dimensions
Globalization is the process of integration of economies across the world Globalization is an expansion, and intensification of social relations and
throughcross-border flow of factors product and information consciousness across world time and world space. It is about growing
FOUR CHARACTERISTICS
worldwide connectivity according to Steger. OF GLOBALIZATION
Globalization is the growing economic interdependence of
countries worldwide through increasing volume and variety of cross border
transactions in goods and services and of international capital flows and
also through the more rapid and wide diffusion of technology - IMF
1. It involves both the creation of new social networks 2. Globalization is reflected in the expansion and
and the multiplication of existing connections that cut the stretching of social relations, activities, and What are involved in SOCIAL STRETCHING?
across traditional, political, economic, cultural, and connections.
geographical boundaries. Non-governmental organization
EXAMPLE: Commercial enterprises
Social clubs
EXAMPLE: Reaching of financial markets around the globe
Regional & global institutions and associations (UN, EU, ASEAN, and
Occurrence of electronic around the clock
others)
Brazilian World Cup: Today’s media combine conventional TV coverage Emergence of gigantic and virtually identical shopping malls in all
with multiple streaming feeds into digital devices and networking sites that continents to cater to consumers who can afford commodities all over
transcend nationally based services. the world-including products whose various components were
manufactured in different countries -- social stretching.
3. Globalization involves the intensification and 4. Globalization processes do not occur merely or an
acceleration of social exchanges objective, material level but they also involve the It extends deep into the core of the self and its
and activities. subjective plane of human consciousness. dispositions, facilitating the creation of multiple individual
and collective identities nurtured by the intensifying
EXAMPLE:
Globalization involves both the macro-structures of a relations between the personal and the global. They differ
The worldwide web relays distant information in real time global community and the micro-structures of global from each other by acceleration in the speed of social
Satellites provide consumers with instant pictures of remote events
personhood. exchanges and widening of geographical scopes
Sophisticated social networking by means of Facebook or Twitter has
become routine activity for more than a billion people around the
globe.
https://byjus.com/
Major players in the current century’s global economic Major Sources of Economic Growth across Countries Dimensions of Globalization
order 2. Political Dimension
1. Property rights
Huge international corporations -an enlargement and strengthening of political
2. Regulatory institutions
(General Motors, Walmart, Mitsubishi) interrelations across the globe
3. Institutions for macro-economics
International Economic Institutions
4. Stabilization
(IMF, World Bank, The World Trade Organization) Political Issues that Surface in this Dimension
5. Institutions for social influence
Trading Systems 1. The principle of state sovereignty
6. Institutions for conflict management 2. Increasing impact of various intergovernmental organization
3. Future shapes of regional and global governance
Economic institutions have decisive influence on investment in physical and human
capital, technology, and industrial productions. It is also important for resource
distribution.
Unit 1 - INTRODUCTION TO GLOBALIZATION
Dimensions of Globalization
4. Solidarity (The principle of Solidarity affirms that membership Justice is divided in three (3) categories:
in the human family means that all bear responsibility for one
6. Subsidiary (The Catholic Church teaches that decisions should 1. Commutative justice
another.)
be made at the lowest level in order to achieve the common good. This aims at fulfilling the terms of contracts and other promises on
5. Preferential option of the poor (In the Theology of the
both personal and social level.
Incarnation- Christ God became poor for us so as to enrich us by 7. Justice 2. Distributive justice
his poverty. The poor are susceptible to the effects of
This ensures a basic equity in how both the burden and the goods
environmental irresponsibility because they live in countries where 8. Integral Humanism- is concerned with whole person of society are distributed and that ensures that every person
cheap building materials and cheap labor are readily available.
enjoys a basically equal moral and legal standing apart from
They regularly work in farming, fishing, and forestry, areas which
differences in wealth, privilege, talent and achievements
suffer environmental damage).
- often used to legitimize certain political interests or to Globalism is an ideology that gives the concept of
According to catholic teaching, a just society is
defend dominant power structures neo-liberal values and meanings to globalization.
one which these forms of justice are assured
because they are required by human dignity.
ADVOCATES OF GLOBALISM ADVOCATES OF GLOBALISM 3. Thomas Friedman. (2012). International Politics: Concepts, Theories, & Issues. Sage publications.
Edited by Rumki Basu
4. https://www.globalization101.org/what-is-globalization/
5. Cherunilam, Francis (2010). International Business: Text and Cases. 5th Edition.PHI Learning Private
END OF
Limited. New Delhi.
5. Globalization furthers
6. Cited by Charles Michell (2000). International Business Culture. World Trade Press. California
7. Steger. Manfred Globalization: A Very Short Introduction Published by OUP Oxford
8. Pereira, Carlos and Vladimir Teles (2011). Political Institutions, Economic Growth, and Democracy:
UNIT 1
Growth Princeton: Princeton University Press.
The neoliberal explanation of globalization is ideological because it is 12. Samuel P. Huntington (1997). The Clash of Civilizations and the Remaking of World Order (New York:
and technological progress. But the reality is that the opportunities of Touchstone/Simon and Schuster
13. Johnston, Douglas M. Religion and Culture: Human Dimensions of Globalization. http:// indian
politically motivated and contributes to the construction of particular
globalization are spread unequally and power and wealth are strategic knowledge online. com/ web/ C31 Johns. pdf
14. Seazolts, Kevin R (2012). A Virtuous Church: Catholic Theology, Ethics, and Liturgy for the 21st
meanings of globalization which stabilize existing power relations. Century
concentrated among a specific group of people, regions and 16. (a,b) Steger, Manfred. Globalization: A Very Short Introduction. Published by OUP Oxford