The Global

Ampayon, Butuan City 8600, Philippines

URL: www.carsu.edu.ph Economy
2.1
The Contemporary World
• Now, here is the topic outline:
• Definition of Economic Globalization
• Indicators and manifestations of
Economic globalization
• Actors that facilitate economic
globalization
• Theories of Economic Globalization
• Crises of Global capitalism
Definition of the Economic
Globalization
• Economic globalization as a dimension
that derives partly from its historical
development. Evolution of international
markets and corporations led to an
intensified form of global
interdependence.
The indicators and manifestations of
Economic globalization
• General analysis on globalization of the
economy
• International Trade and Development
• Multilateral agreement on investment and
related initiatives
• Transnational Corporations
The indicators and manifestations of
Economic globalization
• Foreign Direct Investment
• World Trade Organization
• World Bank
• International Monetary Fund
• Global Taxes
The indicators and manifestations of
Economic globalization
• General analysis on globalization of the
economy
• Represents the manifestation of international
trade, financial transfers, and foreign direct
investment, the increasing internationally
interconnected economy.
• International Trade and Development
• Trade agreements like FTAA, NAFTA, CAFTA
facilitate international trade, thereby strongly
impacting people at all levels of the
economy.
• Multilateral agreement on investment and
related initiatives
• MAI is an agreement or treaty given with the
terms and conditions discussed and
undertaken by three or more sovereign
parties namely the participating nations or
private entities
• Transnational Corporations
• Transnational corporations have become
some of the largest economic entities in the
world, surpassing many states.
• Foreign Direct Investment
• An investment to a business in a given
nation state in the form of controlling its
ownership.
• World Trade Organization
• The intergovernmental organization sets and
enforces the rules of international trade
between the nations and states.
• World Bank
• Its function is to eradicate poverty by loaning
poor countries money for economic
development, but these loans often come
with demands of economic liberalization.
• International Monetary Fund
• Intergovernmental organization that
envisions as a lender of last resort for
countries experiencing economic crises.
• Global Taxes
• To implement global taxes the need for
democratic oversight and control, the policy
shaping effects, and distributive effects.
Actors of Economic Globalization
These are the entities that influences the
global economic processes. They can be
classified as public or private organization,
economic forums and regulatory system
either established by governmental or
business entities.
Actors of Economic Globalization

• International Chamber of Commerce

• Bilderberg Group
• Trilateral Commissions
• World economic Forum
• World Business Council for Sustainable
Development
International Chamber of Commerce
• Historically functioned as the most
comprehensive business forum
committed to liberalization. Refers to
itself as the World business association
• Related IOs are WTO, G20 summit and OECD
- Organization for economic Cooperation and
Development
Bilderberg Group
• The group provided a context for more
comprehensive international capitalist
coordination and Planning.Assembled in
the spirit of corporate liberalism,
representatives of Right and Left, capital
and organized labor.
• Related IOs are CFR (council on foreign
relations), IMF, World Bank, Trilateral
Commission, EU and NAFTA (North
American Free Trade Agreement).
Trilateral Commission
• Forum to foster effective collaborative
leadership in the international system and
closer cooperation among the core
capitalist regions of Northern Europe,
North America and Japan – the triad.
• Related IOs are CFR (council on Foreign
Relations), Bilderberg Group, G7 summit and
G8 summit.
World Economic Forum
• Convened Europe’s CEOs to an informal
gather in Switzerland to discuss
European strategy in an international
marketplace.
• Related IOs are World Bank, IMF and GATT
World Business Council for
Sustainable Development (1995)
• Formed in a merger of the Geneva-based
Business Council for Sustainable
Development and the Paris-based World
Industry Council for the Environment (ICC
branch).
• Related IOs are UNEP(UN Environmental
Program), UNCTAD (UN conference on Trade
and Development), UNCED and (UN
conference on Environment and
development)
Thank you and See you next
Session!