Understanding Globalization
● In contemporary popular discourse, globalization often functions as little more than a
synonym for one or more of the following phenomena:
○ The pursuit of classical liberal (or “free market”) policies in the world economy
(“economic liberalization”),
○ The growing dominance of western (or even American) forms of political,
economic, and cultural life (“westernization” or “Americanization”),
○ A global political order built on liberal notions of international law (the “global
liberal order”),
○ The proliferation of new information technologies (the “Internet Revolution”),
○ As well as the notion that humanity stands at the threshold of realizing one single
unified community in which major sources of social conflict have vanished
(“global integration”).
Globalization
● Globalization is the process of integrating the national economies of nations into a global
economic system. There are three main actors, namely: MNC / TNC, as well as WTO,
IMF and World Bank (Bretton Wood System).
● Globalization shows a shift in the scale of social organization, the emergence of the world
as a shared social space, the relative de-territorialisation of social, economic and political
activity, and the relative de-nationalization of power.
● Globalization is a new international system (Thomas L. Friedman, 2001)
● "Globalization for those of us in the Third World is what we call for several centuries
colonialism." (Martin Khor, 1995)
● “…technological, political, economic, and cultural dimensions that connect individuals,
governments, and firms across national borders.” (Rosa Gomez Dierks)
● (Economic) Globalization: “…(the) integration of national economies into the
international economy through trade, direct foreign investment…short-term capital flows,
international flows of workers and humanity generally, and flows of technology…”
(Bhagwati, p. 3)
● In contemporary popular discourse, globalization often functions as little more than a
synonym for one or more of the following phenomena:
○ The pursuit of classical liberal (or “free market”) policies in the world economy
(“economic liberalization”),
○ The growing dominance of western (or even American) forms of political,
economic, and cultural life (“westernization” or “Americanization”),
○ A global political order built on liberal notions of international law (the “global
liberal order”),
○ The proliferation of new information technologies (the “Internet Revolution”),
○ As well as the notion that humanity stands at the threshold of realizing one single
unified community in which major sources of social conflict have vanished
(“global integration”).
Globalization
● Globalization is the process of integrating the national economies of nations into a global
economic system. There are three main actors, namely: MNC / TNC, as well as WTO,
IMF and World Bank (Bretton Wood System).
● Globalization shows a shift in the scale of social organization, the emergence of the world
as a shared social space, the relative de-territorialisation of social, economic and political
activity, and the relative de-nationalization of power.
● Globalization is a new international system (Thomas L. Friedman, 2001)
● "Globalization for those of us in the Third World is what we call for several centuries
colonialism." (Martin Khor, 1995)
● “…technological, political, economic, and cultural dimensions that connect individuals,
governments, and firms across national borders.” (Rosa Gomez Dierks)
● (Economic) Globalization: “…(the) integration of national economies into the
international economy through trade, direct foreign investment…short-term capital flows,
international flows of workers and humanity generally, and flows of technology…”
(Bhagwati, p. 3)
