major factors include: -rise of new economic powers Today globalization is often associated with the flow of Western economic, political, and social beliefs and institutions to other world regions. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Which wave of globalization is the most important to help us to understand the tumultuous changes underway today? -184 nations- number of votes varies depending on its size and its importance in the world economy -enormous demand in developed countries Among the five (5) perspectives on the history of globalization, which of them is most likely the reason behind the origin of globalization? It is concerned with structure and processes for decision making, accountability, control and behavior at the top of an entity. The spread of Christianity after the fall of the Roman Empire. THIS COUNTRY IS THE During the first wave international trade and foreign investment expanded as some trade barriers declined and new transportation and communications technologies were developed. Ritzer (2015) cited Therborn's (2000) great epochs of globalization. What are global value chains? Scrap metal- from US to China- usable metal extracted (mainly by hand)--> shipped back to US as new products or used to build China The waves happen sequentially, building on each other. 1. Technology is considered to be one of the major factors that contribute to the rapid increase in globalization. As an experiment, a self-confessed connoisseur of cheap popcorn carefully counted 773 kernels and put them in a popper. -local campaigns to stop supermarkets and malls -push to liberalize financial and capital markets, and to reduce barriers to trade, often hurt small emerging counties This is how. It was the era of the First Industrial Revolution. Political persecution, economic depression, war, and famine in the home country is an example of ________ factors in migration. Midterm 1 Flashcards | Quizlet Does it work well here? -concern about sovereign wealth funds Waves of Globalization, The Globalization Debate in Brief - Ebrary similar to-spurred by developments in transportation (railroad vs airplane), communication (telegraph vs. internet); global economic development depended on large-scale flows of capital; development entailed large-scale immigration and even the growing importance of remittances to those who remained in the homeland; global economic specialization among the nations of the world; specialization operated on the basis of the law of comparative advantage; emphasis on free trade and the elimination of trade barriers (tariffs);poor nations and the people who inhabit them are subjugated by the operations of the global economy; not all parts of the world gained equally from the growth of the economy;losers in the in this economic competition among geographic areas, but also industries and social classes lose out, at least in comparison to the winners; poor tended to suffer more. History shows that our ancestors travel from Africa to other places in search of food and security. Three Waves of Globalization: A Brief Overview - IPE Club That helps people to exchange products and technologies with countries all over the world, moreover, it allows access to all needed products and technologies. The pillars of economic globalization are international trade, foreign direct investment, and cross-border financial flows. other factors found to influence this on global scale so ability to control limited irreversible trend for the economic broader global opposition to all aspects of consumption (Slow Food, Buy Nothing Days), emphasize the relative value of those economic activities that are required to bring a good or service from conception, to the various phases of production (involving a combination of physical transformation and the input of various producer services), to the delivery to final consumers, and to final disposal after use, take the position that there is such a thing as globalization and it encompasses virtually the entirety of the globe, a transplanetary process or set of processes involving increasing liquidity and growing multidirectional flows of people, objects, places and info as well as the structures they encounter and create that are barriers to, or expedite, those flows, a process that is created and disseminated by large scale forces (such as the nation-state and the MNC), especially those associated with the North, and imposed on the South (especially their nation-states and businesses), takes the form of individual actors, and groups of actors, opposing and acting to oppose globalization in both developed and less developed countries, involves the building of totally new corporate facilities in another country, involves owing more than one will be able to pay back, involves methods employed by one nation-state to gain control (sometimes through territorial conquest) of another country (or geographic area) and then to exercise control, especially political, economic, and territorial, over that country (or geographic area), and perhaps many other countries, a development strategy whereby countries (usually in the global south) were encouraged to develop their own industries instead of focusing on producing for export and relying on imports from other countries (especially the north), involves processes through which economic actors- nations, firms, and even workers- move from low value to relatively high value activities in global production networks, global flows that do not occur in isolation from one another; many different flows interconnect at various points and times, involve the networks of producers involved in the process of producing a finished product, refers to policies that involve non-intervention of the nation-state in matters concerning the market, trade, or the economy more generally, involves the idea that no government of government agency can do things as well as the market. Thanks so much. Whether globalization is perceived as a negative or positive process, its influence on the world structure is evident and could be observed nowadays. In what ways do structures facilitate flows? Biting an unpopped kernel of popcorn hurts! Receiving nations are expected, among other things, to put into place tight monetary and fiscal policies, to liberalize financial markets and trade, to privatize and to deregulate, involve encompassing sets of processes of congealed flows that may either impede or block flows or serve to expedite and channel them, involve value-adding activities in the production process. Globalization, in an economics context, refers to the freer cross-border movements of goods and services, labor, technology, real capital, and financial capital to create an integrated and interdependent global economy.
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