CONTEM

1: STRUCTURES OF GLOBALIZATION

GLOBALIZATION
● “The intensification of worldwide social relations which link distant localities in such a way that
local happenings are shaped by events occurring many miles away and vice versa”
(Giddens,1990:p. 64)
● “It refers to both the compression of the world and the intensification of consciousness of the
world as a whole...”(Robertson, 1992: p.8)
● “The compression of time and space and the annihilation of distance” (Harvey, 1989)
● “A process of interaction and integration among the people, companies, and governments of
different nations, a process driven by international trade and investment and aided by
information technology”(Sunny Levin Institute)
● “A process that has effects on the on the environment, on culture, on political systems, on
economic development and prosperity, and on human physical well - being in societies around
the world” (Steger, 2005)

● Integration
○ Something to do with influence / integrating different places in real time
○ Linked
○ Not only connection
○ There is influence
○ Everything is integrated, from people to products
● Cities
○ Major factor that enables globalization

Yet, there is no one overarching definition of globalization.

There are competing definitions because of the diversity of disciplines that have studied the
phenomenon.

3 COMMON UNDERSTANDINGS OF GLOBALIZATION

Concepts of :
1. Process
● Ukrainian refugee last 2021
● Denotes happening over some time of world wide interdependencies and exchanges
● A process that involves the interdependency (→ the context clue)
● Looking for historical evidence of growing worldwide connectivity
2. Condition
 ● Characterized by thick economic, political, and cultural interconnections and global
flows
● A condition: a state of being–it has a personality or characterization
● The characteristic of globalization being a condition is through the different global flows,
eco, political, cultural interconnections that are THICC and STRONG
3. Ideology
● A political belief system that benefits a certain class
● It’s embedded not only within the culture or society alone but also manifested through
the government and governance
● Involves a certain degree of politicization (not in a bad way)
○ It has its own political dynamic

Six (6) Core Claims under Globalization as Ideology

1. Globalization is about the liberalization and global integration of markets.
2. Globalization is inevitable and irreversible.
3. Nobody is in charge of globalization
4. Globalization benefits everyone in the long run.
5. Globalization furthers the spread of democracy in the world
6. Globalization requires global war on terror.

MISCONCEPTIONS ABOUT GLOBALIZATION

● Globalization as Internationalization
○ Globalization
■ Connecting economies of the world for free trade and economic policies to
integrate the world into the global village
■ There has to be an enabling factor for something to be considered globalization
■ It doesn’t have to happen between countries, but also cities.
● But only if there is influence/integration of information, culture etc.
● Seoul and Manila
 ● Manila and Cebu
○ If there was Western culture in Cebu and Cebu brought it to
Manila
○ Internationalization – produce goods or deliver services that have the capability of
entering into the international marketplace and have the standards that are globally
accepted
○ Globalization is a result which is desired by the global economies, internationalization is
the task/process with which globalization can be achieved

● Cultural Globalization
○
● Sociological Globalization
○
● Ecological Globalization
○
● Geographical Globalization

II. The Global Economy

Economic Globalization
● A process of absorbing national economies into an interlinked and interdependent global
market economy
○ Absorbing → still integration
● This is where we started, it is still integration

THE BRETTON WOODS INSTITUTIONS

● Created by the victors of WWII in July 1944
● Formally known as the United Nations Monetary and Financial Conference
● It agreed to create two international economic organizations: International Monetary Fund
(IMF) and World Bank also known as the International Bank for Reconstruction and
Development, and the third entity called the General Agreement on Tariffs and Trade (GATT)
● Will make you understand how financial globalization started

International Monetary Fund

● Was designed to provide short-term loans to aid countries facing balance-of-payments deficits

International Bank for Reconstruction and Development (World Bank)

● Was created to grant long-term loans for the economic development of less developed
countries and the reconstruction of war-torn countries in Europe
● Is made up of two institutions: the International Bank for Reconstruction and Development
(IBRD) and the International Development Association (IDA)
 ● Its role in the modern economy is to reduce extreme poverty

General Agreement on Tariffs and Trade (GATT)

● The purpose was to avoid wars by raising protectionist barriers as witnessed during the
interwar period. But later on, since it was unable to address the expansion of trade services, the
World Trade Organization (WTO) was created in 1995 to manage the latter issues.

THE INTERNATIONAL MONETARY SYSTEM

- Is a set of general rules, legal norms, instruments, and institutions shaping payment conditions
in foreign trade (international scale(Milkita, 2015)
- Financial globalization
- Started through the Gold Standard
- Money heist

The Gold Standard

● Was adopted by England in 1816,
○ First country to industrialized
● Considered as the first monetary system
● The primary features of this system were the unlimited convertibility of currencies into gold
and high stability facilitated by trade among countries that eliminated exchange rate
fluctuations and risks

The Gold Bullion Standard

● This was where banknotes were exchangeable for gold bullion of fixed weight, therefore the
involvement of large sums of money. This later failed and collapsed in 1911

Dollar-Gold Standard or the Gold Exchange Standard

● An adjustable-peg system where the US Dollar is the only convertible currency that is
considered to be as good as gold
● Our current monetary system

FROM KEYNESIANISM TO NEOLIBERALISM

KEYNESIANISM (kenshuhnism)
● Was developed by John Maynard Keynes, a British economist, around the 1930s.
● Keynes argued that market-generated equilibrium results in unemployment which causes a
decrease in demand. He sees government spending as a solution to revise the economy;
government promotion of open markets while protecting the society and the domestic market
● 2 types of global economic system
● This wasn’t successful and therefore was exchanged for neoliberalism

SHORT VIDEO: POLITICAL THEORY - JOHN MAYNARD KEYNES

 ● 00:00-01:30 IAN (KEYNES)
John Maynard Keynes
● political economist of extraordinary optimism and vision who believed that governments have it
in their power to solve some of the greatest ills of capitalism.
● Keynes refused either to believe in communism, or in the utter wisdom of the unfettered free
market. Instead, he occupied a middle course, believing that governments could, with a
judicious injection of money here and a rise regulation there, smooth out the peaks and troughs
to which all economies seem fatefully prone.
● Keynes believed that what chiefly holds back countries is
○ corruption,
○ knee-jerk policies, and
○ shortsightedness,
● but that if these three ills are corrected, then humanity can look forward to an
age of incredible and lasting wealth.
● Economic Possibilities for Our Grandchildren
○ written in 1930
○ at the height of the world economic crisis, Keynes outlined his belief that most severe
economic problems could be overcome, and give way to an age where the chief
challenge for human beings would be how to occupy their leisure time in conditions of
mass prosperity.
● For Keynes, economics was not a dull science.
○ Economics was the tool with which to bring about economic security for all.
● Keynes' background was well-to-do, and throughout his life, he remained firmly a part of the
British establishment.
● Educated at Eton and at Cambridge University, Keynes was unusual for the breadth of his artistic
and literary interests.

● 01:31-03:00 ANGE (KEYNES)

● 03:01-04:30 TRIC
● Intervention in the economy by the government to break the cycle of economic depression
● Add supply to encourage growth and create employee
● Interest rates decreased so that saver will invest their money providing cash fo expansion or
new ventures
● Traditional tools would be useless and not required

THREE REASONS WHY UNEMPLOYMENT EXISTS, ACCORDING TO CLASSICAL ECONOMICS

1 Workers are temporarily unemployed when they move jobs

2 Individuals might simply elect not to work, particularly if they can support themselves through
some form of payment
3 Unemployment arises when wages are higher than what employers can afford
● Classical economics assumes that a free market will correct this last course automatically by
balancing the supply and demand of labor into equilibrium–ensuring something approaching full
employment
○ If some outside force were to exert itself on the market, ex:
■ Government sets a minimum wage that artificially inflates wages
■ Trade unions organized workers so that they refused to take lower wages in a
declining market
○ It is under these conditions that equilibrium would not be found
● Keynes took issue with Classical economics
○ 1930s - there were huge numbers of people unemployed, which could not be regarded
to be caused by people being between jobs or simply idle
■ Keynes also thought that the level of unemployment was too great to be
caused by the interference of trade unions–given that high unemployment had
severely curbed Union power during the Great Depression
● Keynes deemed unemployment to be the result of a lack of demand
○ Classical economics assumed that demand would return by itself once wages and labor
requirements had equalized
● “In the long run, we are all dead” aka sabi ni Keynes “mamamatay din tayong lahat”
HAHAFHGDH
○ It would take too long to reach the equilibrium or equalization mentioned in classical
economics
● Keynes argued that it was insufficient for economists and policymakers to simply advise people
to accept suffering in the short medium term, secure in the knowledge that at the end of the
storm, the sea would return to calm.
○ What was needed was intervention in the economy by the government to break the
cycle of economic depression and restore prosperity. (ends in 4:36)

● 04:31-06:00 JU (KEYNES)
● 06:01-07:30 AVEN

● Keynes criticized governments for the way they typically respond to downturns
○ They tend to rein in spending (to limit their spending), however it is as expected, and
understandable. To compare, it is what households do when there are low to no money
coming in
○ There would be catastrophic consequences if government rein in spending when an
economy is in decline because it always worsens the very problem it's meant to solve
■ Kasi if hindi gagamitin ng gobyerno ung pera ng country hindi magcicirculate
ung money and hindi tataas ung demand and if hindi tataas, magiging deads ung
economic activity (gets ba T^T) yess getsss getss
 ● One obvious objection to Keyne’s focus on Government Spending was the question as to “Who
should pay the loans?”
○ The argument is : by creating debt, would not the problem be simply postponed to
another day, rather than solved?
■ This is then explained in Keyne’s Theory known as the Multiplier Effect

MULTIPLIER EFFECT
● By creating jobs through public works, the government would save some of the money they
would’ve otherwise spent on unemployment benefits
● Secondly, Increase in employment would create additional spending power, thus it will boost
the economy and tax receipts
● There would be an indirect effect on businesses
○ as opportunities to service public work programs becomes available
○ When businesses prosper, tax revenue increases
● In turn, receipts would then pay off the debt by the initial expenditure

● 07:31-09:00 ENRIQ (KEYNES)

Keynes’ ability to conceive of grand macroeconomic architecture put him in a high demand during the
Second World War.
● When he went to the treasury to work as an advisor
○ raised the peerage in 1942 as Baron Keynes of Tilton in the country of Sussex
○ Lord Keynes led the British delegation to the Bretton Woods Conference in the United
States, at which the Allied nations hammered out post-war economic policy
● Keynes believe that national governments could successfully manage economies, but also
believed that a global system of economic organization was possible.
○ Argued that (for the purpose of global trade) countries should subscribe to the creation
of a new international standardized unit of account: the Bancor

The BANCOR
● Through a complex system of accounting, the adoption of the pseudo-currency, would allow an
internationally-recognized organization, to impose fines on countries in order to discourage
them from running large trade deficits or surpluses.
● Would help to smooth out peaks and troughs in international trade and it would also benefit
countries like Britain who had low reserves of gold (because of the cost of the War)
● both a brilliant and self-interested idea in equal measure.
○ But, ultimately, the Bancor did not come about.
● The United States
○ effectively bankrolling global post-war economic reconstruction
○ ran large trade surpluses and had no intention of accepting limitations on these.
 ● Keynes' other proposals, such as the establishment of the World Bank, and the International
Monetary Fund to oversee and encourage world trade, were accepted, and have dramatically
changed the world.
● Testimony to Keynes' belief
○ National and super-national economic planning is both necessary and possible.

● 09:01-10:30 REIGN (KEYNES) (pa start nalang dun sa ‘the strain….” - enriq)
● 10:31-11:17 AZEL (KEYNES)
● To be sure, Keynes’ ideas need to be modified to suit the conditions of the temporary world, but
Keynes would approve that his was NOT a static or dogmatic understanding of economics
● He was asked why in the 1930s, he had altered some of the positions on economic policy he had
previously held. Keynes answered, “ When the facts change, I alter my conclusions. What do you
do sir?”

● 00:00-01:00 AZEL (NEOLIBERAL)

NEOLIBERALISM
● Friedrcih Hayek, a tweedy, Austrian economist had one of those light bulb moments in the
mid 1930s and switched on an ideology that unites its enemies in scorn but has inspired
governments and entrepreneurs down the decades
● The idea was built on the classical liberalism of the 18th century and a defence of individual
liberty protecting private property and the freedom of markets from external interference,
taxes, regulations, levies as much as possible.
● Neoliberalism argued that the market wasn’t just an absence of interference.
○ It could produce a philosophy or a way of thinking all of its own.
○ That means looking at the world and at transactions in daily life through the eyes of
the market.
○ You can glimpse this, for instance, when I say, “I’m in the market for a beer” -
showing that we’ve internalized the the idea of a market for other values.

● 01:01-02:30 JOSE (NEOLIBERAL)

● 02:31-04:00 AMHIR (NEOLIBERAL)

● Keynesianism won for a good while after World War Two

● By the end of the 1970s
○ Public sector strikes and worries about “stagflation”
■ an ugly combo of stagnation and inflation
● Persuaded some mould-breakers to look back to neoliberalism as a way to perk up flagging
economies.
● Ronald Reagan and Margaret Thatcher led the way in embracing the notion.
● And, so did the ruthless dictator Augusto Pinochet in Chile
 ○ which rather marked down the democratic scorecard of neoliberalism.
● The financial crash of 2007/8 created a more testing mood towards de-regulation and
neoliberalism gained a bad rep, because it was taxpayers who had to bail out the banks.
● But there’s a broader, cultural reason neoliberalism gets it in the neck right now.
● Inevitably, it leads to such fast-paced, uncontrolled globalisation, because it does away with
barriers to trade and to financial flows.
● It prizes the innovative above continuities.
● So you could say it puts the corporation above the nation.
● But the globalised world we inhabit - one of start-ups, the ability to move money and
borrow cheaply, and companies operating across borders - owes a lot to the Austrian,
Friedrich Hayek

III. Global Governance and the Interstate System

The United Nations

● Was created in 1945 by the Allied Powers, the victors of World War II.
● Its mandate is to maintain international peace and security and to foster international
cooperation in addressing humanitarian, social, economic, and cultural issues.
● The world is living under a very big organ called the UN

The UN Charter and its principal organs:

1. Economic and Social Council (EcoSoc)
2. Trusteeship Council
3. International Court of Justice
4. General Assembly
5. Security Council
6. Secretariat

● 00:00-07:00 TRIC (asynch mod 1)

GLOBALIZATION THROUGHOUT THE YEARS

● The term “Globalization” was first used around the 1960s and 1970s, but had gained wide
interest (especially in research) in the 1990s
○ It was during this time that globalization was really gaining momentum, so it
became a field of study or specialization of study for a particular social, economic,
and such– phenomenon
● Has many definitions because of the wide variety of disciplines that have studied it
 HISTORIANS More interest in determining whether the term is a modern
phenomenon

ECONOMISTS Look into the changing patterns of international trade and

commerce as well as unequal distribution of wealth

POLITICAL SCIENTISTS Focus more on the impact of the forces of globalization

Ex. international NGOs and international organizations, on the

state, and vice versa
● Particular state actors that play a role in globalization or
the impact of globalization

● 07:01-14:00 ASYNCH MOD 1 AMHIR (hello! yung parts natin is involved w the 3 common
understandings of globalization, since nasulat na natin siya before tinuloy ko nalang yung
notes dun sa taas, pacontinue nalang, tys!)
● 14:01-21:00 ASYNCH MOD 1 AZEL
GLOBALIZATION AS AN IDEOLOGY
● Globalization exists in people’s consciousness because it consists of coherent and
complementary ideas and beliefs about the global order (Steger, 2005)
● A political belief system that benefits a certain class
● Globalization as an ideology is defined by six (6) core claims:
○ Globalization is about the liberalization and global integration of markets (“the
triumph of markets over governments)
○ It is inevitable and irreversible
○ Nobody is in charge of globalization
■ Based on the realist theory
○ It benefits everyone in the long run
■ Because it would be easier to communicate without loved ones in other
countries
○ It furthers spread of democracy in the world
○ It requires a global war on terror
■ So that there wouln’t be cases of terrorist attacks again
GLOBALIZATION AS A PROCESS AND CONDITION
 ● This photo came from social media (Facebook)
● It informed us of the condition of Ukranian refugees, and through the picture, we were able
to express our sentiments and disappointment with the Ukraine-Russian war
● We are able to express our sentiments and disappointments for the Ukraine-Russian war
● It is a process in the sense that you could now see that there are actually social
interdependence and exchange of sentiments for this particular example.
● At the same time, it is a condition in a sense that it is a social state in which people go
beyond borders.
● Through photos and social media platforms, you could now understand that globalization is
indeed a process and a condition
● Social media platforms are very important as it will make or break a particular information
or service
● If you have a platform or social media, you have to be responsible especially with the
amount of information that is flowing and we’ve been getting through it.
● 21:01-28:00 ASYNCH MOD 1 IAN
1.3 THE IMPACT OF GLOBALIZATION ON THE ACADEME
● The impact can be seen in the surge in the number of scholarly works about globalization.
○ Around 1990’s where globalization has been recognized
○ During that time, there had been a surge of scholarly works.
○ Globalization have a big impact on the academe.
○ K–12 curriculum
● The globalization literature suggests that there are two major branches of research:
○ Those studying specific problems or issues as they relate to globalization
○ Those studying the concept of globalization itself - theorizing the very nature of the
process.

1.4 THEORETICAL PARADIGMS ASSOCIATED WITH GLOBALIZATION

1. World Systems Paradigm
● Proposed by Immanuel Wallerstein, the views globalization as virtually synonymous with
the birth and spread of capitalism (c. 1500) rather than as a recent phenomenon
 ○ Globalization is not actually something new, yet it has recently recognized around
1990 and only surged in 1960s and 1970s, it’s not a new phenomenon and had
happened way before.
2. Global Capitalism Paradigm
● Treats globalization as a novel stage in the evolving system of world capitalism; focuses
more on new global production and financial system.
○ First step towards a newer version of capitalism
○ There were many changes that happened in the global economic system and
financial market
○ Although it’s not new, there are evolving systems.
3. The Network Society School of Thought
● Does not subscribe to the contention that capitalism fuels globalization. Instead, it puts
forth the premise that technology and technological change are the underlying causes of
the several processes that comprise globalization.
○ More of a criticism or a contradiction
○ It is because of the advent in information and communications technology (ICT),
there is a surge in globalization.
● 28:01-35:00 ASYNCH MOD 1 REIGN

4. SPACE, TIME, AND GLOBALIZATION PARADIGM

● Studied by so many scholars

Top Four Scholars who studied this

● Giddens
○ 1990
○ Views globalization as “time-space distanciation”, where he defines distanciation as the
intensification of worldwide relations
● Harvey
○ 1990
○ Globalization represents a new burst of “time-space compression”, produced by the
very dynamics of capitalist development
● Sassen
○ 1991
○ Proposes that new spatial order is emerging under globalization based on a network of
global cities led by New York, London, and Tokyo
● Robertson
○ 1995
○ Introduced “glocalization”, which means that the ideas about home, locality and
community have been extensively spread worldwide in recent years so that the local has
been globalized.
 ● This paradigm meant that there is a compression of space and time in globalization because
distances are no longer a thing due to the advent of different cities and capitalism. It goes along
the dynamics of capitalist development. Whatever it is out there, globally, could actually be
localized.

5. Transnationality and Transnationalism

● Transnational processes and practices
● The multiple ties and interactions (economic, political social, & cultural) that link people,
communities, and institutions across the border of nation-states
● Multiple networks or interactions at the same time.
● Transnationalism
● An umbrella concept encompassing a wide variety of transformative processes,
practices and developments simultaneously at the local and global levels.

6. GLOBAL CULTURAL PARADIGM

● Emphasize the rapid growth of the mass media and resultant global cultural flows and images in
recent decades evoking the image famously put forth by Marshall McLuhan of “the global
village”

● These theoretical paradigms don't have to be one over the other but rather all of them actually
make sense in the understanding of globalization although one could only apply to a certain
degree, they are all important. Equally important in the sense that they all actually make valid
points although one criticizes the other, not one is more than the other but rather, they
contribute to the understanding of globalization and how it evolves, and how it is still existing up
until now.

MISCONCEPTIONS ABOUT GLOBALIZATION

6Globalization as Internationalization
● Internationalization includes activities by entities such as corporations, states, international
organizations, private organizations, and even individuals concerning national borders and
national government.
● Globalization, meanwhile, includes a range of activities that do not require reference to a state’s
national borders.
○ It is beyond national border
○ Globalization does not necessarily have to have a regulation from the government.
● Ex:
○ Visa
■ When you go to another country, you have to have a visa, that’s a government
regulation. It is very political because you really have to be able to register when
entering a country, you have to be recognized.
 ■ Globalization is not like that. You can use social media to get to know another
country without going there, it does not require a state's national borders.
○ Virtual Concert
■ It is globalized but it does not have to be international. International would
always have to do with corporations, states which means that it will always
involve the government, international corporations, private organizations, even
individuals concerning national borders. Globalization is beyond that.
Globalization as Liberalization
● Liberalization is commonly understood as removing barriers and restrictions imposed by
national governments to create an open and borderless world economy
● Globalization is realized when national governments reduce or abolish regulatory measures like
trade barriers, foreign exchange restrictions, capital controls, and visa requirements because it
has been promoted to people.
○ Globalization doesn’t evolve in position by national government.
○ Liberalization is more formal, globalization doesn’t have to be formal.

● 35:01-42:00 ASYNCH MOD 1 JU

Globalization as liberalization
● Globalization is where an economy of scale is created through the interaction and
integration among people, companies, and governments worldwide.

Liberalization is the process where a state lifts restrictions on some private individual activities. It is a
situation in which government regulations and restrictions are relaxed to make room for economic
expansion. Easing government controls and restrictions for the ease of doing business
● Proponents of trade liberalization, however, claim that it ultimately lowers consumer costs, increases
efficiency, and fosters economic growth. The outcome of trade liberalization and the resulting
integration among countries is known as globalization
● Globalization means the speedup of movements and exchanges (of human beings, goods, and
services, capital, technologies or cultural practices) all over the planet. One of the effects of
globalization is that it promotes and increases interactions between different regions and
populations around the globe.
○ We can be influenced but not all are open to liberalization
○ Basta something about liberalization is limited sabi ni maam

Globalization as Universalization and Westernization

● Universalization denotes a process of spreading various objects, practices, and experiences to
the different parts of the planet. If western modernity spreads and destroys local cultures, this
variant of universalization is known as Westernization, Neo-colonialism, Americanization or
Mcdonaldization
○ Denotes homogeneity, if one country is this then all country is also like that
 ● Globalization doesn’t have to be the same and doesn’t necessarily mean homogenization.
● It does not mean that all people should have that music, thing to say that you are globalized
● Globalization does not necessarily need to happen worldwide
● Westernization isn’t the only road that globalization can take. (Ex. Asian countries can also
influence the West)
○ Example: Kpop, Samgyup, Hallyu wave, etc.

TYPES OF GLOBALIZATION
- They have logical interrelationships
● Financial Globalization
○ The intimate interconnections of the world’s financial systems
■ Stock Market trading in New York can affect the stock exchange in Manila,
Seoul, Tokyo
● Economic Globalization
○ The integration of economies ( liberal, conservative, hybrid) on a transnational level
instead of identifying corporations on a country level basis
■ A bubble, a boom, or a recession in the usa influences people's jobs in europe
and asia
■ ford has plants in mexico
■ companies like coca-cola, nike and shell are all over the world
● Technological Globalization
○ refers to how the technological revolution has meant the global village has expanded
to everything corner of the globe with grows in travel communication and computer
technology and mobile ( smart) communicate
■ the internet use from different places worldwide through smartphone
■ traveling through different places in less than 24 hours through planes
● Political Globalization
○ the ripple effects and continuity of political relationships between and among
countries
■ setting up international organizations such as the UN, NATO, WTO, which
debate and regulate international politics and trade
■ the NAFTA: Free trade between the us, canada and mexico replaced
nationalism and protectionism
● Cultural Globalization
○ The diffusion of commodities and ideas
○ Reflects a standardization of cultural expressions worldwide
■ Listening to the same music (kpop)
■ Watching the same TV (kdrama, hollywood, bollywood)
■ Eating the same food (samgyup)
■ Having the same values
● Sociological Globalization
 ○ The idea that a single “world” society has evolved, replacing distinct national societies
that previously existed
■ One set of moral beliefs
● The moral beliefs of one country applies to all
■ Reaction of the “west” to Islamic fundamentalist countries and vice versa
■ The promotion of Black lives movement and LGBTQIA+ as important societal
matters to talk about
● Ecological Globalization
○ Treating the planet as a single system (ecosystem) rather than a collection of separate
ecological systems
■ The issues of ozone depletion and global warming because of carbon gas
emissions impact the world and not just the nations who contribute to the
damage. Hences, the Greenhouse Gas Protocols
● Geographical Globalization
○ Seeing a borderless world dominated by financial, economic, political, technological,
social, cultural, and ecological concerns that had been influenced by the networks of
world cities
○ Taking all issues all throughout the world beyond borders
■ Concerns about trade, geopolitics, wars, etc

If you have reached this part, you are doing AMAZING!!! Just keep going!!! We’re almost done!!!
Fighting!!!

THE GLOBAL ECONOMY

Economic Globalization
● A process of absorbing national economies into an interlinked and interdependent global
market economy

THE POST-WORLD WAR II ECONOMIC SYSTEM

The Bretton Woods Institutions
● Refers to two economic institutions: International Monetary Fund (IMF) and the expanded
World Bank Group or International Bank for Reconstruction and Development (IBRD)
● These institutions were created through the Bretton Woods Conference, known as the United
Nations Monetary and Financial Conference, held on July 1944.
○ It was a conference of world leaders from 44 countries who convened in Bretton
Woods, New Hampshire, United States
● These institutions were known as keystone international economic organizations (KIEOs) due
to their central role in trade, development, and monetary relations
● 42:01-49:00 ASYNCH MOD 1 ANGE
● 49:01-56:00 ASYNCH MOD 1 ENRIQ
INTERNATIONAL MONETARY FUND (IMF)
● Created in 1945,
● Designed to monitor the system of pegged or fixed exchange rates.
● Main Purpose
○ To promote global monetary cooperation and international financial stability.
● Role
○ To provide short-term loans and prevent devaluation and retain the state's fixed
exchange rate in instances of temporary balance of payment deficits.
○ Its mandate is to ensure international financial cooperation and reinforces
international trade.
● Renewed Role
○ its role changed when the fix-exchange-rate system collapsed and was replaced by
floating exchange rates in 1971.
■ It still had the role of providing liquidity but has more focus on countries tied
to major currencies instead of countries supplying them.
● Criticism
○ The IMF has since been dominated by emerging economies in its decision-making.
● Reform Process
○ The reform process in 2010 was prompted by the Global Financial Crisis of 2007-
2009, consisting of the ff:
■ (1) IMF resource expansion to enhance capacity for financial crisis
management
■ (2) increase in quota and voting power of emerging economies within the
institution.
● IMF is quota base
WORLD BANK
● A component of the World Bank Group which is comprised of three other institutions:
○ International Finance Corporation (IFC)
○ Multilateral Investment Guarantee Agency (MIGA)
○ International Centre for Settlement of Investment Disputes.
● Made of up Two Institutions Today
○ (1) International Bank for Reconstruction and Development (IBRD)
■ Provides lending to middle-income and credit-worthy low-income countries
○ (2) International Development Association (IDA)
■ Grants credits and loans to low-income countries.
● Main Purpose
○ Was created to grant long-term loans for the economic development of the less
developed countries and the reconstruction of war-torn countries in Europe.
● Renewed Role
 ○ Reducing extreme poverty, while addressing the imperfections of global capital
markets became its secondary goal.
● Criticism
○ the Bank's impact on growth has been contested for several reasons like
■ (1) Severe macroeconomic distortions suffered by loan recipients
● Borrower/debtor would always suffer because it is still a loan
● Just like the Philippines, the Marcos administration or Marcos was
the first president who had a loan and up until now we’re paying for
that.
○ And right now, we have other loans that we supposed to pay
■ (2) Accused of worsening the state of poverty and underdevelopment of
recipient countries
● Specifically african countries
■ (3) The structural adjustment resulted in adverse effects on children in Sub-
Saharan Africa
■ (4) Programs of not only the Bank but also of financial institutions such as
IMF and African Development Bank (ADB) have detrimental effects on child
and maternal health in developing world as they undermine access to health
care and adversely impact income and food security.
● The higher the inflation rate, because we need to pay for our internal
loans, the more we can no longer suffice for our daily needs

52:28/1:10:36

● 56:01-01:03:00 ASYNCH MOD 1 JOSE (paconnect na lang sayo ung akin yung hanggang
digging up roads - aven) (kahit sa GATT ka na mag start, ty -enriq)

● 01:03:01-01:11:00 ASYNCH MOD 1 AVEN

● Keynesianism failed
● One of the best examples of Keynesianism
○ Government spending
○ Ex: Digging up roads to increase employment

NEOLIBERALISM
● A system where there is a free flow of capital and goods across the globe (1980s)
 ● The key neoliberal policies comprised of:
○ Privatization
○ Deregulation
○ Lesser public spending
○ Reduced corporate taxes
● The IMF and World Bank also aligned its policies to neoliberalism
● Newer version of liberalism
● Problem of Neoliberalism is that it is PRO-MARKET/COMPANY
○ Capitalism leans more towards the capitalists
■ The company earns more than its employees
● With the expansion of globalization, civic movement is present
○ Transnational and national resistance due to the widening gap between the north
and south
○ Zapatista Movement - Mexico against the North American agreement on the battle
of Seattle during the WTO Ministerial Conference in 1990s
● Neoliberalism thrives of capitalism; enables globalization
● We are currently living in the neoliberal system

GLOBAL INTERSTATE SYSTEM AND GLOBAL GOVERNANCE

The United Nations

● It was created in 1945 by the Allied Powers, the victors of World War II
● Its mandate is to maintain international peace and security and to foster international
cooperation in addressing humanitarian, social, economic, and cultural issues

THE UN PRINCIPAL ORGANS

Economic and Social Council (ECOSOC) Its primary objective is to advance the
economic, social, and environmental
dimensions of sustainable development

Trusteeship Council Provides international supervision of Trust

territories that are under the administration of
seven member-states, to ensure that adequate
steps are being made to prepare for self-
governance
● Countries that are not yet self-
governing

International Court of Justice (ICJ) The UN’s principal judicial organ that settles
 legal disputes between states and provide
advisory opinions and legal questions

● The issue with the West Philippine Sea

is also in the scope of responsibility of
ICJ
● They do not have much authority on
the decisions

The Security Council The most potent organ with the power to make
legally binding resolutions

● Legislative Body of the UN

The General Assembly Is the only UN organ with representation. It

decide on essential questions with a simple
majority

● This is where all the member states are

represented

Secretariat It carries out substantive and administrative

work of the United States as directed by the:

1. General Assembly
2. Security Council and other organs
3. Head is the Secretary-General
- who provides overall
administrative guidance

REFORMS IN THE UNITED NATIONS (UN)

● Reform has only been met once in 1963 when the General Assembly voted for the
Expansion of the UNSC from 11 to 15 member states
○ The 11-15 Member States are the one who vote within the General Assembly
■ Main decisions for voting
● Currently there are 193 member states in the UN
WORLD OF REGIONS
● 00:00-03:00 IAN
I. Global Divides: The North and South
A. What is the Global Divide?
B. How did it start?
C. Why is the South at a Disadvantage?
II. Asian Regionalism
A. What is Regionalism?
B. Regionalism in Asia
C. The Most Dominant Asian Regional Blocs
1. ASEAN
2. APEC
3. EAST Asian Summit (EAS)
4. Asian Plus Three (APT)

GLOBAL DIVIDE
● It is a socio-political and economic classification of countries.
○ Classification of countries into a binary or dichotomy (Global North and Global South)
● It is largely related to the division between the poor and rich countries.
● Yet, the division goes beyond geographical boundaries since not all states in the north of the
equator are not considered as part of the Global North and not all those in the South of the
equator are considered as part of the Global South.
○ Outliers: Geographically speaking, you may be in the North but you may be in the South
socio-politically and economically.
● 03:01-06:00 REIGN

Global North
● Is generally viewed as the more affluent and economically stable countries
● We can find here the More Economically Developed Countries (MEDC)
● The MEDC has a better standard of living and quality of life. Other aspects of MEDCs are the
country’s life expectancy, education levels, doctors available (and medicine), and their
development of technology.
● It is not geographical but more political, economical, and sociological in nature.
● Countries:
○ Australia, Canada, Israel, Hong Kong, Macau, New Zealand, Japan, Singapore, South
Korea, Taiwan, the United States, and Europe including Russia (with the exception of
Ukraine due to the on-going war).

Global South
● Include most nations that are developing
● Most of the countries we find in the South divide are Least Economically Developed Countries
(LEDC)
 ● The LEDC are measured as developing based on factors such as unstable government, poor
economy, poor standard of living, and quality of life.
● The Philippines belongs here.
○ Quality of Life | Example: Traffic
■ In the Philippines, you will wake up at 4 am but at 5 am you still haven’t ridden,
especially pre pandemic.
● Countries:
○ Asia (with the exception of Japan, Hong Kong, Macau, Singapore, South Korea, and
Taiwan), Central America, South America, Mexico, Africa and the Middle East (with the
exception of Israel)
○ For example, Japan is technically in the south in globe but is considered in the global as
north since they are more affluent and economically develop

HOW DID THE DIVIDE START?

● The term “Global North-Global South” first emerged in 1996
● However, since the Cold War (after world war 2), many commentators have already employed
the North and South label.

● 06:01-09:00 ENRIQ
● 09:01-12:00 AVEN

THE BRANDT REPORT

● In 1983, the Brandt Report was published by a commission chaired by the former German
Chancellor Willy Brandt
● The report identified a North/South line (Brandt Line) and thus popularized another called “The
South” which was generally a geographical division that hides and cannot justify the political,
economic, and historical processes and inheritances of the Southern countries that are deemed
poor
○ The term Global North/South was then used to mark their location globally, but now, it
is used to describe the economic activity (How are you economically/socio-politically)
■ This is when the divide started
■ The world leaders decided that it is not efficient to divide the world
geographically

● 12:01-15:00 TRIC

THE FIRST, SECOND, AND THIRD WORLD

● The term Global North and Global South was fashioned out of the categorization which included
mainly the First, Second, and Third World distinctions
● This categorization was influenced by the Cold War era between the USA and the USSR
● Became ineffective when USSR disbanded and became Russia, China (& others…).
 ● They had to pass another way of really dividing the world as to who are the more affluent and
non-affluent, which thus rendered the First, Second, and Third World categorization obsolete
● Global North and Global South was used instead
● Became ineffective when USSR disbanded and became Russia, China (& others…).
● They had to pass another way of really dividing the world as to who are the more affluent and
non-affluent, which thus rendered the First, Second, and Third World categorization obsolete.
● Global North and Global South were used instead.

CATEGORIZATION CRITERIA

1) FIRST WORLD Those that allied with US and much of the Western World who preached
Democracy and Capitalism

2) SECOND WORLD Refers to Communist bloc led by USSR (Union Soviet Socialist Republic)
now known as Russia, China, and other states who employed marxist
principles

3) THIRD WORLD Not very economically developed or sociopolitically developed, and

lacking affluence, but are allies with the U.S.

Ex. Most SEA countries and African countries. The Philippines belongs
here as well.

This term corresponds to the non-aligned states, the underdeveloped

nations and states that have unstable political and economic conditions
● Third World countries can also be allies with the US, but they lack
the power to actually be allies in the sense of a bigger picture
○ Self note: I suppose it’s like here in the PH, we’re highly
influenced by the US which is why we might be considered
“allies”, but we are not allies in the sense where our
countries are on equal standing. Clearly, the US has more
power–it is not a fair relationship.

WHY IS THE SOUTH AT A DISADVANTAGE?

● Colonization is the one factor that stands out the most
● Most countries regarded as MEDCs listed in the North are at some point in history imperialist
countries (colonizers)
○ And vice versa, if you go through the list of countries in the South, most of them were
colonized
○ Most countries that had been colonized had remained inferior from then up until today
● Yet, it is important to note that just like any part of history, the United States, although a
former British colony, had developed and emerged as one of the most powerful countries in the
world
○ wow may glow-up ang US
 ● 15:01-18:00 JOSE
● 18:01-21:00 ANGE
● The North and South divide and the First, Second, and Third World Categorization are
indications of inequality
○ The world is not united even in pre-colonial and pre-historic times
ASIAN REGIONALISM
REGIONALISM
● Fashioned out of the rationale that regional organizations are treaty and charter-based, giving
them formal statues in the international law
● In the context of International Relations: The manifestation or expression of a common sense
of cultural identity and purpose combined with the creation and implementation of
institutions that express a particular identity and shape collective action within a geographical
region
● A sense of unity with a purpose (pageant answer daw haha)
○ Purpose: economy and security
● 21:01-24:00 AZEL
ECONOMIC REGIONALISM
● Refers to the institutional arrangements designed to facilitate the free flow of goods and
services and to coordinate foreign economic policies between the countries in the same
geographic region or nearby locale
● Most of the regional organizations established after WWII are anchored in economic integration

ASIAN REGIONALISM
● One of the major characteristics of Asian Regionalism is its openness and accommodating nature
● Is very essential not only for the growth of the region, but also for the continuing development
of economic and political aspecs in the global dimension
● A stable, cohesive, and productive Asia is one of the major interest of Asian Regionalism the
same reason why it is must, despite the many criticisms this type of regionalism face

THE IMPERATIVE FOR REGIONALISM IN ASIA

It held that Asian integration could result in the following:
● Generate productive gains, new ideas, and competition that boost economic growth and raise
incomes across the world
● Contribute to the efficiency and stability of global financial markets stronger and safer by
maximizing the productive use of Asian savings
● Diversify sources of global demand, helping to stabilize the world economy and diminish the
risks posed by global imbalances and downturns in other major economic
● Provide leadership to help sustain open global trade and financial markets
● Create regional mechanisms to manage health, safety, and environmental issues better, and
thus contribute to more effective global solutions of these problems
● 24:01-27:00 JU
ASEAN
The association of Southeast Asian Nations
● The asean is ratio regional intergovernmental organization which seeks to promote
intergovernmental cooperation and facility economics, political, security, military,
educational, as well socio-cultural integration among its members and other asian countries as
well as with the rest of the world
● composed of 10 member states today
● founding fathers on August 8 1967: Indonesia, Malaysia, Philippines, singapore, thailand
● late joiners: Vietnam 1984, Lao pdr 1995, Myanmar 1997 and Cambodia 1999
‘
APEC
Asia-pacific economic cooperation
● Original economic forum established in 1989 to leverage the growing interdependence of the
asia-pacific. It operates as a cooperative, multilateral economic and trade forum.
● It's major aim is to promote a balance, inclusive, sustainable, inovative, and secure growth
and by accelerating regional economic integration
● Composed of 21 members
○ Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan,
South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines,
Russia, Singapore , Chines , Taipei, Thailand, USA and Vietnam

EAS
East asian summit
● It is a unique leaders led forum of 18 countries located in the asia-pacific region form to further
objectives of regional peace, security and prosperity
● it is an initiative of asean and is based on the premise the centrality of asean
● it was established in 2005 and has evolved as a forum for strategic dialogue and cooperation on
political, security and economic issues of common regional concern and plays an important
role in the regional architecture
● the EAS consists of the 10 asean members states: australia, china, india, japan, new zealand,
south korea, russia and usa

APT
Asean plus three
● This began in december 1997 and institutionalized and 1999 will the leaders issued a joint
statement on east asia cooperation at their asean+three summit in manila
● This can be considered as a form that functions as a coordinator of cooperation between the
asean and the +3 nations of china japan and south korea
● The asean plus three leaders expressed greater result and confidence in further strengthening
and deepening east asia cooperation at various levels in and in various areas including energy,
trance, information and communications technology (ICT)
 ● 27:01-31:00 AMHIR

ISSUES AND CONCERNS OF ASIAN REGIONALISM

● Asia’s bright economic prospects provide a supportive environment for regional cooperation
● But building an Asian economic community is a long-term undertaking, and the economic
climate cannot be expected to remain consistently favorable

CRITICISMS AGAINST ASIAN REGIONALISM

1. They did not play a role in major and longstanding regional conflicts, especially those that are
holdovers from the Cold War period.
● Period such as the PRC - Taiwan (one China policy) and Spratly Islands dispute involving
China, Taiwan, Vietnam, Malaysia, Philippines, and Brunei
○ Already had a decision from International Court Justice (ICJ)
○ They cannot be solved by Asian regionalism
2. Their failure make use of available instruments of conflict-prevention and resolution
3. The failure of regional trust-building, which is supposed to have been brought about by regional
groups like the ASEAN is reflected in the emergence of what seems to be a significant arms racce
across the region
4. On the economic front, there has been no regional free-trade area under the auspices of APEC,
which was created partly with that objective in mind.
● Instead, bilateral trade arrangements have flourished, thereby undercutting the
rationale for wider regional arrangements
5. While the region is regularly visited by natural calamities, there is no standing regional
humanitarian and disaster assistance mechanism in place, despite periodic attempts to create
one
● Most of the assistance came from UN or European countries
6. On human rights and social issues, Asia continues to lag behind other regions, including Africa
and Latin America, not to mention Europe, in developing regional human rights promotion and
protection mechanisms