The Contemporary World

means "modern" or "present"

contemporary concerns different issues such as...

a process of interaction and integration among the people, companies, and governments worldwide.

"the expansion and intensification of social relations and consciousness across world time and world space."

"globalization means the onset of the borderless world."

"all those processes by which the peoples of the world are incorporated into a single world society."

"globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such as way that local happenings are shaped by events occurring many miles away and vice versa."

conceptions about globalization

they argue that globalization is a profoundly transformative set of social process that is moving us into a new chapter of human history.

they contend that existing accounts of globalization are incorrect and exaggerated.

they claim that the world is not a truly global phenomenon, but one centered on Europe, East Asia, and North America.

signs of globalization

dimensions of globalization

intensification and stretching of economic interrelations across the globe.

expansion and acceleration of political relations and interdependencies across the world-time and world-space.

influences the used of language, the shape of world religions, global media, food, and other numerous other aspects of global public life.

highlights the increasing interconnections across national boundaries.

battle of capitalist and communist nations.

no control of the government.

free-market with no intervention of the government.

a system of widely shared ideas, patterned beliefs, guiding norms and values, and ideas accepted as truth by a particular group of people.

a hegemonic system of ideas that makes normative claims about a set of social processes called globalization.

the price change in one market affects the prices in other markets.

are deep-seated modes of understanding that provides the most general parameters within which people imagine their communal existence.

neither theories nor ideologies.

"Social imaginaries offers explanation of how 'we' - the members of a particular community - fit together.

claim 1 of market globalization

claim 2 of market globalization

claim 3 of market globalization

claim 4 of market globalization

claim 5 of market globalization

claim 6 of market globalization

the products that will be sold.

work done or duties served for another person.

person who makes products.

the person that buys products.

relationship of the price of a good or product and the willingness of people to either buy or sell it.

not enough resources to fill human wants and needs.

economy is composed of 2 greek words such as

oikos and nomos translated to...

the oldest known international trade route.

trade route from 130 bce to 1453bce.

a trade agreement during the Spanish colonization from 16th to 18th century.

forbidding colonies to trade with other nations and trade routes.

set up a network of global financial institutions that would promote economic interdependence and prosperity.

created in a 1944 conference of all of the WW2 allied nations.

an international agency with 189 member countries.

formed in 1944 to finance the reconstruction of war-torn countries after WW2.

institutions that supervise the exchange rate system, and international payments.

institution that promotes international trade by reducing or eliminating trade barriers.

concept of free trading, wherein government intervention is lessened.

policy of a planned economy.

a policy that protects domestic industries from unfair competition from foreign ones

a tax imposed upon the entry of foreign product on national borders.

a direct or indirect payment to individual or firms.

policy that puts limit on the quantity of products that can be imported and exported.

policy of a free market.

a policy to eliminate discrimination against imports and exports.

a place where exchange takes place.

people communicating their offerings, price, and availability.

people that purchases products by paying money.

a phenomenon in which markets of goods and services that are related to one another experience similar pattern in the context of price.

"integrated markets are those where prices are determined interdependently."

"markets that are not integrated may convey inaccurate price information which might distort producer marketing decision."

places multiple production facilities in multiple countries under the control of a single corporate structure.

have a central corporate facility but give decision-making, research and development, and etc. to each individual foreign market.

the change in geographical pattern of specialization of the global scale.

a method of production whereby, an entity focuses on the production of limited space of goods to gain greater degree of efficiency.

production operations are performed in another country by the same company.

when a company entrusts a part of their business process to an outside vendor/another country.

advantages of economic globalization

disadvantages of economic globalization

"the nation-state, as a complex modern political form, is on its last legs."

"economic interdependence and global communication had rendered the nation-state a nostalgic."

"new world order"

"global state"

nation-state

"coercive authorities over specific territories."

"independent political communities with government."

"an imagined political community"

attributes of modern international politics

package of treaties that ended the 30 years European wars of religion.

core points of Westphalia Treaty

"the idea of common international principles"

"cooperation and respect among nation-states"

"promotion of global democracy."

coined the term international

founded in the 1919 paris conference after WW1.

aimed at maintaining world peace through international arbitration.

proponent of The Socialist International

organization of labor and socialist parties, mainly in Europe.

achievements of The Socialist International

collapsed in 1916 as its member parties supported the war efforts of their respective states.

central body for all communist parties across the world.

dissolved in 1943 to appease Allied Powers.

"yet in our discussion of the revolution, you neglect the colonies, while capitalism uses them to support itself, define itself and fight you."

both variants of internationalism is an attack on the nation - Hitler

created to preserve peace after the war and reinforce principles of sovereignty and non-intervention.

decolonization after the war

29 countries gathered in Indonesia to discuss the fight against colonialism.