Self-Test #3

UNIT 1: The Globalization of World Economies

EVENT ADVANTAGES DISADVANTAGES

Economic globalization can be By increasing the integration of

seen first and foremost as the economies around the world through the
expansion, depth, and flow and exchange of products, services,
acceleration of global connections and capital. It is very like globalization,
in all aspects of contemporary the definition of integration the aspect
social life. Globalization is seen as completely different consequences of its
a multidimensional phenomenon. qualitative and subjective.
It refers to the growing integration During the COVID-19 pandemic, access
of economies around the world, to the net and personal priorities unit of
especially through the cross- measurement of the problems of a poor
border flow of goods, services, student. However, the discrepancies
capital and people (labor), and between the created and thus the poor
knowledge (technology). unit of measurement area unit are still
Economic globalization means necessary. This chapter assesses
that with the continuous economic globalization and examines
expansion of cross-border trade in world organization agency edges and
goods and services, the flow of world organization agency is unseen.
international capital, and the
widespread and rapid spread of
technology, the interdependence
of the world economy continues to
What is increase. It reflects the continued
economic expansion of the market frontier
globalization? and the integration of standards,
an irreversible trend in world
economic development at the turn
of the century.
The importance of information in
various productive activities is
multiplied, and commodities are
the two main drivers of economic
globalization. In other words, the
rapid globalization of world
economies in recent years is
based on the rapid development
of science and technology.
Furthermore, it results from an
environment in which the market
economy system has rapidly
spread worldwide and, developed
by the increasing cross-border
division of labor, has penetrated
the production chain level in
companies from different
countries.
 One of the advantages of the trade
route is that it connected the earth.
It created a heavily used trade
route that connected Central Asia,
the Mediterranean, China, and
Japan. This connectedness
allowed for the exchange of ideas
and technologies. As an associate
degree example, as peregrine
traders went around the world,
Early they became proof against many
historical diseases. Another advantage of
traces of the trade route is its economic
exchange up impact on many countries as a
to present result of the trade route growth,
( The Silk further of us started operational as
Road ) merchants, and they started
making money. One example of
typically this can be} often in
China. As Chinese silk became
further stylish around the globe,
further Chinese of us started
operationally in the silk trade. The
popularity of silk started creating
jobs for several Chinese. Those
that didn't have jobs might
presently add to the silk trade.
Globalization and interconnectedness
may have started in the time of the Silk
Road, but they took off greatly during the
last few years. I believe that globalization
is good because the world comes closer
together and people realize that there are
fewer differences between cultures than
they thought. It allows people to be closer
together, and, just maybe, lessens wars
between different cultures.
The disadvantage of this connectivity can
be detrimental to small or developing
countries. More developed countries might
act like bullies to the less developed
countries. For example, most movies are
made in Hollywood, and there is no real
chance for any country to even come close
to the success that Hollywood has in
regards to movies and shows.

Economic globalization raises

discussion regarding whether or
not integration can cut back the
chance of conflict and war.
Globalization during this context
refers to a global commerce
market, wherever state economies However, the method of economic
become addicted to international globalization continues to be uneven, and
trade. Countries prosper through a few countries, enterprises, and people
Economic
economic development, and have benefited greatly from it. Over the
Globalization
promoting trade can increase past 2 centuries, the planet's economy has
Today
capital. For economic globalization become additional more unequal. That
( Trends,
to achieve success in reducing difference is characterized by widening
Risks and
conflict, it might follow economic gaps between nations, however
Risk
neoliberalism’s freedom of the not essentially inside nations. Throughout
Prevention )
market, limiting the government’s this same amount, the planetary economy
role in trade. The economic has become additional integrated global.
easement of trade globalization will This natural event.
cut back resource wars and civil
wars influenced by natural
resources. Integration would
generate state reciprocity
preventing the chance of conflict
between commerce states.
Freelance states in the past have
 shown to be unstable and are the
political and economic causes of
war on a worldwide scale.
Economic globalization and
economic integration turn out a
neoliberal market, Mutualist states,
and stable governments reducing
the chance of conflict and war.

If the general public feels

government policies are a unit
unfair, it withdraws its support for
the govt. The state then has the
troublesome task of leveling the
pursuit of capital with maintaining
mass support. In different words, The reason is that these societies became
state policies should favor more democratic and have modified
business and property, house considerably as a result of Welfare-state
owners whereas showing to policies, like free attention provision. Also,
represent the interests of all. This collective identities have fragmented and
Economic
idea means that the conditions it's enlarged Individualization and fewer
Crisis into
exist for presidential class-based conflicts.
Social Crisis
establishments to suffer a large- The reason is that these societies became
(Atkinson et.al
scale loss of legitimacy. If voters more democratic and have modified
2015)
sense that the govt is simple and considerably as a result of Welfare-state
beneficent, then they'll show policies, like free attention provision. Also,
support. If, however, they feel that collective identities have fragmented and
policies don't seem to be in their it's enlarged Individualization, and fewer
interests, folks can respond with class-based conflicts
political apathy or maybe large-
scale discontent and protests.
Given a threat to the established
order, a government might try and
appease its voters with fugacious
welfare measures.

UNIT 2: Global Politics & Contemporary Global Governance

The liberal advocates for a

The birth of the interstate system avoided
participative world community
wars in the future by recognizing state
wherever integration of politics
sovereignty. From then on, the state
and economy is extremely
begins to grow in power. It started in
encouraging whereas the socialist
Europe and unfold to the remainder of the
The advocates for economic equality.
globe. Europeans experienced the quick
International They are doing not problematize
development necessary (tax systems and
State System the divided nations because it isn't
military power) to unfold influence and
a drag for them, their main
power around the world. The enlargement
concern is the economic division
of the interstate system began in Europe,
of individuals. In the post-war
and spread globally through imperialism,
amount, liberal internationalism
leading to over 200 states and most
would yet again prosper and
existing in financial condition.
therefore the best proof to the
present is that the UN because
 the center of world governance.
The first plan to build a worldwide
system is that the creation of the
League of states at the tip of
World War I. Yankee President
Woodrow Wilson is extremely
associated with the formation of
the League of Nations. Though he
was advocating for the formation
of it, he wasn't ready to be a part
of the league the moment it was
fashioned because of the
opposition of the Senate.

IOs are a good tool in meddling

with world issues, however, it may
flip it back on the key
Global problems nowadays if it's a
conflict of interest in dominant
countries that's why this up-to-
date governance isn't associated
with finish purpose, and
international organization was
ne'er good governance for the
world community, however, it's
Global recognized thanks to its eminent
Governance role. International establishments
just like the international
organization are often in a
precarious position in world
governance. We have a tendency
to know that they're composed of
many sovereign states which
makes them a collective cluster,
however, they're additionally a
company with their rationalities
and agendas making the conflict
in their interests.
In modern international governance, there
is nobody organization that numerous
states are responsible to follow and
additional doubtless no organization will
militarily force a state to follow the
worldwide rules. However, there are,
somehow, existing general behavior of
states like following guidance routes and
recognizing individual territorial
boundaries. If they'd not, it'll be a
worldwide concern. Maintaining the
international order is by following the
worldwide norms despite the shortage of
a holistic single world government. Global
governance is the different intersecting
processes that make this order.

The Philippines sought a The tribunal didn't have jurisdiction to rule

determination on whether or not
bound land options within the
Tribunal Spratly Islands claimed by China
Issues and also the Philippines area unit
Landmark properly characterized as islands,
Ruling in rocks, tide elevations (LTEs), or
South China submerged banks. underneath
Sea UNCLOS, an associate “island”
Arbitration generates each a territorial ocean
of twelve transportation miles
associated with an exclusive
economic zone (EEZ) of up to two
hundred transportation miles,
on queries of sovereignty over land
territory or to delimit boundaries between
the parties. The scope of the ruling on
queries relating to the Law of the ocean
nevertheless was of monumental
significance for each legal and political
reason. It provided long-sought clarity
regarding the parties’ legal rights and
obligations beneath the Convention,
which has widespread membership. It
additionally intervened in one of all the
foremost tense and sophisticated dramas
enjoying out on the international stage
 subject to the border of a maritime
boundary with the other countries’
overlapping territorial seas or
EEZs. A “rock” is entitled to a
territorial ocean no larger than
twelve transportation miles,
however not associated with EEZ.
LTEs and submerged banks don't
generate any such entitlements.
these days. With over five-hundredths of
the world’s industrial shipping passing
through the South China ocean every
year, the end result of the case is of
significance not just for the parties but
additionally for all the States bordering
the South China ocean like country,
Malaysia and Vietnam, and for the US
and different States that enforce freedom
of navigation rights within the space.

The Silk Road: Connecting People and Cultures. (2022). Smithsonian Folklife
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Stobierski, T. (2021, April 1). 6 Pros and Cons of Globalization in Business to

Consider. Business Insights Blog. https://online.hbs.edu/blog/post/pros-
and-cons-of-globalization

Tribunal issues landmark decision in South China Sea Arbitration | Volterra

Fietta. (2016). Volterra Fietta | The Public International Law Firm.
https://www.volterrafietta.com/tribunal-issues-landmark-decision-in-
References
south-china-sea
arbitration/#:%7E:text=In%20its%20most%20far%2Dreaching,%E2%80
%9Cnine%2Ddashed%20line%E2%80%9D.

Remembering: And Defending: The International States System on JSTOR.

(2003). Remembering: And Defending: The International States
System. https://www.jstor.org/stable/40203892

Global Governance: Advantages and Disadvantages | Free Essay Example.

(2021, May 12). StudyCorgi.Com. https://studycorgi.com/global-
governance-advantages-and-disadvantages/