CHAPTER 2: THE GLOBAL ECONOMY
THE CONTEMPORARY WORLD
2018 04-SC-00004-0 978-971-23-8666-4 Core Introduction ...........................................................................................................................22 Economic Globalization and Global Trade ............................................................................ 23 Economic Globalization and Sustainable Development ....................................................... 26 Environmental Degradation .......................................................................................... 26 Food Security ................................................................................................................. 27 Economic Globalization, Poverty, and Inequality ................................................................. 29 Global Income Inequality ...............................................................................................31 The Third World and the Global South ......................................................................... 33 The Global City ............................................................................................................... 34 Theories of Global Stratification ............................................................................................ 35 Modernization Theory ................................................................................................... 35 Walt Rostow’s Four Stages of Modernization .............................................................36 Dependency Theory and the Latin American Experience ........................................... 37 The Modern World-System ........................................................................................... 41
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CONTENTS
Contents
CHAPTER 3: MARKET INTEGRATION
Preface .................................................................................................................................... vii
Introduction ...........................................................................................................................44 International Financial Institutions .......................................................................................44 The Bretton Woods System ..........................................................................................45 The General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) ....................................................................... 45 The International Monetary Fund (IMF) and the World Bank .....................................46 The Organization for Economic Cooperation and Development (OECD), the Organization of Petroleum Exporting Countries (OPEC), and the European Union (EU) .................................................................................... 47 North American Free Trade Agreement (NAFTA) ........................................................ 47 History of Global Market Integration ....................................................................................48 The Agricultural Revolution and the Industrial Revolution .........................................48 Capitalism and Socialism ...............................................................................................49 The Information Revolution ...........................................................................................51 Global Corporations ............................................................................................................... 53
CHAPTER 1: DEFINING GLOBALIZATION
Introduction ..............................................................................................................................1 The Task of Defining Globalization .......................................................................................... 2 Metaphors of Globalization .....................................................................................................4 Solid and Liquid ...............................................................................................................4 Flows ................................................................................................................................ 5 Globalization Theories ............................................................................................................. 7 Dynamics of Local and Global Culture .....................................................................................9 The Globalization of Religion ................................................................................................. 10 Globalization and Regionalization ..........................................................................................12 Origins and History of Globalization ......................................................................................15 Hardwired .......................................................................................................................15 Cycles ............................................................................................................................. 16 Epoch .............................................................................................................................16 Events............................................................................................................................. 16 Broader, More Recent Changes .....................................................................................17 Global Demography ............................................................................................................... 18 Global Migration ..................................................................................................................... 19
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CHAPTER 4: THE GLOBAL INTERSTATE SYSTEM
Introduction ...........................................................................................................................56 Global Governance in the Twenty-First Century ................................................................... 57 Effects of Globalization to Governments ..............................................................................58 Traditional Challenges ...................................................................................................58 Challenges from National/Identity Movements ...........................................................59 Global Economics ..........................................................................................................60 Global Social Movements .............................................................................................. 61 The Relevance of the State amid Globalization .................................................................... 62 Institutions That Govern International Relations ................................................................64 Peace Treaties and Military Alliances: The UN and NATO ...........................................64 Non-Governmental Organizations (NGOs) ................................................................... 67 Global Economic Associations: The WTO and NAFTA ..................................................68 Globalization and Globalism ..................................................................................................68 Informationalism .................................................................................................................... 70 Global Citizenship ................................................................................................................... 73 Appendix ...............................................................................................................................77 References ........................................................................................................................... 107 Index ...................................................................................................................................... 117
CHAPTER 2: THE GLOBAL ECONOMY
Introduction ...........................................................................................................................22 Economic Globalization and Global Trade ............................................................................ 23 Economic Globalization and Sustainable Development ....................................................... 26 Environmental Degradation .......................................................................................... 26 Food Security ................................................................................................................. 27 Economic Globalization, Poverty, and Inequality ................................................................. 29 Global Income Inequality ...............................................................................................31 The Third World and the Global South ......................................................................... 33 The Global City ............................................................................................................... 34 Theories of Global Stratification ............................................................................................ 35 Modernization Theory ................................................................................................... 35 Walt Rostow’s Four Stages of Modernization .............................................................36 Dependency Theory and the Latin American Experience ........................................... 37 The Modern World-System ........................................................................................... 41
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CHAPTER 3: MARKET INTEGRATION
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Introduction ...........................................................................................................................44 International Financial Institutions .......................................................................................44 The Bretton Woods System ..........................................................................................45 The General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) ....................................................................... 45 The International Monetary Fund (IMF) and the World Bank .....................................46 The Organization for Economic Cooperation and
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