Globalization

What is Globalization?

According to Merriam Webster, it is—

1) the act or process of globalizing: the state of being globalized.

2) the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper

foreign labor markets

Expanded definition

According to the World Health Organization, there 3 aspects of globalization:

1) Spatial—internationally, there are increased amounts of the following: trade, communication, migration, and cultural exchange, etc.

2) Temporal—internationally, there is increased speed in the following: communications, trade, resource depletion, and political change, etc.

3) Cognitive—internationally there is an increased spread of neo-liberal values such as free trade, democracy, and human rights, etc.

Interesting statistics Richest entities in the world

(2007)

1) USA—GNI (in billions)—12,219.9

2) Japan—4,976.520) WAL-MART—351.2 21) EXXON MOBIL—347.323) ROYAL DUTCH SHELL—

318.825) Saudi Arabia—289.226) Indonesia—282.2 28) BRITISH PETROLEUM—

274.441) Iran—177.3

Source—World Bank, taken from World Politics by Kegley and Blanton (2010)

Spatial—Increased International Trade

Cocoa Cola does only 32% of its business in North America

Spatial—Trade: Another Example

EXON Mobile drills in 21 counties around the world.

Spatial—Trade Cont…

Improvements in transportation technology make shipping enormous quantities of goods possible.

Temporal Aspects—Increased Speed of Trade

Information Revolution—Silicon Valley, 1990s. Stocks, bonds, and other foreign investments sold and bought online

Temporal—Increased Speed of Cultural Exchange

About 70% of the 750 million active users of Facebook are outside the United States

Temporal—Increased Speed of Cultural Exchange cont.

My Language Exchange—my experiences with Munkhabt from Mongolia

Skype—makes international calling and video calling free or cheap.

Cognitive aspects—increased spread of neoliberal valuesDefinition of neoliberalism—The new liberal perspective that accounts for the way international institutions promote global change, cooperation, peace, and prosperity through collective programs and reform

Aspects:1) Free Trade2) Human rights3) International organizations

Source—World Politics by Kegley and Blanton (2010)

Neoliberal Values—Free Trade

World Trade Organization—Commenced in 1995, the WTO spreads free trade around the world

There are currently 153 members

Neoliberal Values—Trade cont.

There are also regional trading organization all around the world—NAFTA, The European Union, the African Union, and the Association of Southeast Asian Nations, etc.

Neoliberal Values—Human Rights

The Universal Declaration of Human Rights of the United Nations written in 1948 after World War II.

Globalization—Good, Bad, or Both?

A few arguments:Bad—rich get richer, poor get

poorerBad—Natural resource depletion

and pollution on the rise.Good—Increased international

awarenessGood—Increased international

cooperation.

Discussion QuestionsWhat are some of the benefits of

increased international cooperation?

What are some of the consequences (good and bad) with increased international trade?

What are your ideas on outsourcing?

Why might globalization heighten the depletion of natural resources?

What do you think makes globalization possible?

What are some of the consequences (good or bad) of spreading modern neoliberal values to other cultures around the world?