Week 1 - Globalization
Globalism

Joseph Nye, a former dean of the John F. Kennedy
School Government at Harvard

Seeks to describe and explain nothing more than a
world which is characterized by networks of
connections that span multi-continental distances.

Attempts to understand all the interconnections of
the modern world.

Not focus on the inter-connection and unification of
states and nations but on its relation and
awareness.
Globalization

Manfred Steger, prof. at the University of Hawaii at
Manoa.

It is the expansion and intensification of social
relation and consciousness across world-space and
world-time.
Expansion

creations of new networks and the multiplication of
existing connections that across traditional, political,
economic, cultural, and geographic boundaries.

going beyond own territory and accepting other
nation inside one’s territory.
Intensification

is an expansion, stretching, and acceleration of
global networks.

Going deeper into the connections between nations
by creating agreements and friendship.

Expansion and Intensification was done in order to
create social relation and social consciousness.
Social Relation

A state or nation befriend other states which
gradually result to a stabilize relationships.
Social Consciousness

It is an awareness and knowledge of the capabilities
and strategies of other states in order to protect
his/her own.

This is to be executed across world-space and
world-time.
World Space

No boundaries can be given to other nation may it
be an allies or not.
World Time

No time limit, globalization happens twenty-four
hours a day and seven days a week.
Scapes

Arjun Appadurai, an anthropologist.

Kinds of globalization or multiple globalization which
occurs on multiple and intersecting dimensions.

Ethnoscape - refers to people that moves around in
the world, as well as the ideas that move with them.

Mediascape - refers to the flow of media and
culture across borders.

Technoscape - refers to the movement of
technologies across worldwide.

Ideoscape - flow of ideas.

Financescape - refers to the flow of money across
political boarders.
Week 2 - The Globalization of World Economics
International Monetary Fund

Regard as an “economic globalization” as a
historical process representing the result of human
innovation and technological progress.

Increasing integration of economics around the
world through the movement of goods, services,
and capital acrossborders.

The value of trade as a percentage of the world
GDP increased from 42.1% in 1980 to 62.1% in
2007.

Increase trades also mean that investments are
moving all over the world at faster speeds.
United Nations Conference on Trade and
Development (UNCTAD)

19882- Amount of foreign direct investments flowing
across the world was 57B$.

2015 - It became 1.76T$.

It represents a dramatic increaser in global trade.
Supercomputer

Can execute millions of stock purchases and sales
between different cities in a matter of seconds
through a process called high-frequency trading.
Walden Bello

The US used its power under GATT system to
prevent Philippine importers from purchasing
Philippine poultry and pork.

Noted that the Philippines became a net importer
under General Agreement of Tariffs (GATT).
International Trading System

It is not new.

Allows the countries to expand their markets for
both goods and services.
Silk Road

Oldest known international trade route.

A network of pathways in the ancient world that
spanned from China to Middle East and Europe.

A trade route which connects part of Asia.

It helps Asian countries exchange their cultures,
goods, and religions.
Dennis O. Flynn and Arturu Giraldez

Age of globalization began when all important
populated continents began to exchange products.
Galleon Trade

1571 - Flynn and Giraldez trace the establishment
of the galleon trade.

Connected the Manila to Acapulco in Mexico.

The first time that Americans were directly
connected to Asian trading routes.

Was part of the age of Mercantilism.
Monetary reserves

16th – 18th Century. Sell more goods to boost their
countries income.

To defend their product from
competitors who sold goods more
cheaply, they imposed;
1. High tariffs
2. Forbade colonies to trade with other nations.
3. Restricted trade routes
4. Subsidized its exports.
Mercantilism

an economic practice by which governments used
their economies to augment state power at the
expense of other countries.

A system of global trade with multiple restrictions.

1867 - lead by UK, US, and other European, its goal
was to create a common system that would allow for
more efficient trade and prevent the isolation and
mercantilism era.
World War 1

Many were forced to abandon the gold standard due
to the depleted gold reserves to fund their armies.
Floating Currencies

European

No longer redeemable with gold.
Great Depression

1920s to 1930s

Was the worst and longest recession ever
experience in the western world.

Economist argues that it is caused by Gold standard
Barry Eichengreen

Argues that the recovery of US began when gold
standard was abandoned.

They were able to free up money to spend on
reviving their economy.
Fiat Currencies

20th, present time.

Currencies that are not backed by precious metals,
and whose value is determined by cost relative to
other currencies.
Bretton Wood System

Due to the occurrence of two world wars.

Was inaugurated in 1944 during the UNM and
financial conference.

Was largely influenced by British economist, John
Maynard Keynes.

He believed that economic crisis occur not when a
country does not have enough money, but when
money is not being spent and thereby not moving.
2 Financial Institutions – Keynes

International Bank for Reconstruction and
Development (IBRD) or World Bank - responsible
for funding postwar reconstructions projects.

International Monetary Fund (IMF) - was the
global lender to prevent countries from spiraling into
credit crisis.
Neoliberalism

Refer to market-oriented reform policies such as
eliminating price controls, deregulating capital
markets, lower trade barriers, and reduce state
influence in the economy, especially through
privatization and austerity.
Keynesian Orthodoxy

Dominated the economic agenda and it was
assumed that these stimulus policies would
lick-start the recovery by replacing lower spending
and marshalling idle resources.
Inflation

Is a sustained increase in the general price level of
goods and services in an economy over a period of
time.

Very high rate of inflation and hyperinflation is
caused by an excessive growth of the money
supply.
Stagflation

high rates of unemployment period of a little or no
growth in an economy.
Freidrich Hayek and Milton Freidman

Argued that the governments practice of pouring
money into their economies had caused inflation by
increasing demand for goods without necessarily
increasing supply.

They argued that the govn’t intervention in
economies distort the proper functioning of the
market.
World Trade Organization

Founded in 1995 to continue the tariff reduction
under GATT.
Washington Consensus

is a set of 10 economies policy prescription
considered to constitute the standard reform
package promoted for crisis-wracked developing
countries by Washington.
Global Financial Crisis and the Challenge to
Neoliberalism

2007-2008 - World experienced the greatest
economic downturn since the great depression.

2007-2008 - Iceland debt increase more that
seven-folds.

Sep, 2008 - major investment banks collapsed.

Y 2008-2009 - recent global financial crisis.
Week 3 - A History of Global Politics:
Creating an International Order
International Relation

the Goal of internationalization and globalization, in
a sense.

Primarily, it is the reason behind the act or it tells us
WHY we do globalization.
Internationalism

the system used in the internationalization in order
to achieve international relation.

tells us on when and where globalization is done.
Internationalization

the exploration and process of attaining deep
interactions and collaborations with other states.

tells us on how globalization actually being done.
Nation

The people/citizen inside a country who shared
same ideas, belief, faith or culture.
State

exercises authority over a specific population, called
its citizens and governs a specific theory.

the structure of govn’t that crafts various rules that
people follow.

has sovereignty over its territory.
Nation-state

A combination of state and nation or commonly
known as country.
Sovereignty

It is the full right and power of a governing body over
itself without any interference from outside sources
or bodies.
Citizenship

the relationship between an individual person and a
state to which they owe allegiance and in turn is
entitled to its protection.
Napoleonic Code

The code which napoleon bonaporte impelemented
to his conquered kingdoms. This code forbade birth
privileges, encourages freedom or religion, and
promoted meritocracy in govn’t service.
Napoleon Bonaporte

1803-1815

Challenged the power of king, nobility and religion.

Believed in spreading the principles of French
Revolution - liberty, equality, and fraternity.
Concert of Europe

An inner-state system/organization that was created
by powerful nations in Europe after the battle of
waterloo.
Metternich System

An inner-state system that was used after world war
I. In is in this system where great powers still hold
significant influence over world politics.

States are sovereign
Liberal Internationalism

It is the international organization that was created
having in mind democracy.
Socialist Internationalism

It is an international organization that was created
which focus on communism.
Axis Powers

A world war II international alliance which is consists
of Germany’s Hitler, Italy’s Mussolini, and Japan’s
Hirohito.
Allied Powers

A world war II alliance which
consists of America, Great Britain, China and Soviet
Union.
League of Nations

It is the international organization that hoped to
spread peace and prevent another war.
Cominterm

Communist International is a socialist movement
that was established by Valdemir Lenin after the fall
of Union of Soviet Socialist Republics.
Cominform

Communist information Bureau is a socialist
movement that was established by Joseph Stalin
after the fall of Comintern, however this collapsed in
1991.
Immanuel Kant

German Philosopher

He likened states in global system to people living in
a given territory.

For him, without a form of world government, the
international system would be chaotic.
Jeremy Bentham

British Philosopher

Who coined the world international around 1780.

He coined the word international law to govern state
relation.
Guiseppe Mazzini

Italian Patriot

The first thinker to reconcile nationalism with liberal
internationalism around 19th century.

Advocated unifying the Italian speaking mini-states
and major ritique of the Metternich system.
Woodrow Wilson

Saw nationalism as a prerequisite for the
internationalism.

Made the principle of determination, the belief that
the world’s nation had a right to a free,sovereign
country.