The Contemporary World
The Early Modern Period (1500-
LESSON 1:
GLOBALIZATION – process of
interaction, integration and
interconnectedness.
- the process is which people,
ideas and goods spread
throughout the world, spurring
more interaction and integration
between the world's cultures,
governments and economies.
- is 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.
- is an expansion, and
intensification of social relations
and consciousness across world
time and world space. It is about
growing worldwide connectivity
according to Steger.
DIMENSIONS OF GLOBALIZATION
HISTORICAL PERIOD OF
GLOBALIZATION
1. The Prehistoric Period (10000
BCE-3500 BCE)
- contacts among hunters and
gatherers – who were spread
around the world – were
geographically limited.
2. The Pre-modern Period (3500
BCE- 1500 CE)
- In this period the invention of
writing and the wheel were great
social and technological boosts
that moved globalization to a new
level
3.
1750)
- It is the period between the
Enlightenment and the
Renaissance. In this period,
European Enlightenment project
tried to achieve a universal form
of morality and law.
4. The Modern Period (1750-1970)
- Innovations in transportation and
communication technology,
population on explosion, and
increase in migration led to more
cultural exchanges and
transformation in traditional
social patterns. Process of
industrialization also accelerated.
5. The Contemporary Period (from
1970 to Present)
- The creation, expansion, and
acceleration of worldwide
interdependencies occurred in
dramatic way and it was a kind of
leap in the history of globalization.
1. Economic Dimension –
economic relations across the
globe as a result of technology
and the enormous flow of capital
that has stimulated trade in both
sources and goods.
2. Political Dimension - this refers
to an enlargement and
strengthening of political
interrelations across the gglglobe
- Political Issues that Surface in
this Dimension:
● principle of state
sovereignty
 ● Increasing impact of
various intergovernmental
organization
● Future shapes of regional
and global governance
3. Cultural Dimension - this refers
to the increase in the amount of
cultural flows across the globe.
Cultural interconnections are at
the foundations of contemporary
globalization.
4. Religious Dimension - Religion is
a personal or institutionalized set
of attitudes, beliefs, and practices
relating to or manifesting faithful
devotion to an acknowledged
ultimate reality or deity.
5. Ideological Dimensions - is a
system of widely shared ideas,
beliefs, norms and values among
a group of people
6. Technological Dimension
7. Ecological Dimension
MAJOR IDEOLOGICAL CLAIMS OF
ADVOCATES OF GLOBALIZATION
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.
5. Globalization furthers the spread
of democracy in the world
LESSON 2:
ECONOMIC GLOBALIZATION - the
increasing interdependence of world
economies as a result of the growing
scale of cross-border trade of
commodities and services, flow of
international capital and wide and rapid
spread of technologies.
- One giant economic system
- According to International
Monetary Fund, global economy
is a historical process.
TWO MAJOR DRIVING FORCES OF
ECONOMIC GLOBALIZATION
1. The rapid growing of information
in all types of productive
activities.
2. Marketization - A restructuring
process that enables state
enterprises to operate as market-
oriented firms by changing the
legal environment.
ECONOMIC GLOBALIZATION -
exchange of products and services in
global market
INTERNALIZATION - extension of
economic activities between
internationally dispersed activities
ORIGIN OF ECONOMIC
GLOBALIZATION
● 16th century - world system
analysts identify the origin of
modernity and
globalizationthrough long
distance trade.
● 17th and 18th century - global
economy exists only in trade and
exchange rather thanproduction
as the world export to World GDP
did not reached 1 to 2 percent.
 ● 19th century - the advent of trend together and depict same
globalization approaching its expected risk adjusted returns.
modern form is witnessed. - Two markets are perfectly
integrated if investors can
INTERNATIONAL MONETARY SYSTEM
pass from one market to
(IMS) - a system that forms rules and
another without paying any
standards for facilitating international
extra costs
trade among the nations.
● Financial Market Integration - is
GOLD STANDARD SYSTEM - a monetary an open market economy
system where a country's currency or between countries facilitated by a
paper money has a value directly linked common currency and the
to gold. elimination of technical,
regulatory and tax differences to
INTERNATIONAL TRADE - the encourage free flow of capital
exchange of goods, services and capital and investment across borders.
across national borders.
GLOBAL CORPORATION - a business
FOCUSES OF TRADE POLICY that operates in two or more countries.
● PolicyTariffs - taxes or duties It also goes by the name "multinational
paid for a particular class of company"
imports or exports. BRICS ECONOMIES - an acronym for the
● Trade barriers - measures that combined economies of Brazil, Russia,
governments or public authorities India, China and South Africa.
introduce to make imported
goods or services less
competitive than locally produced
goods and services.
● Safety - ensures that imported
products in the country are of
high quality.
MARKET INTEGRATION - refers to how
easily two or more markets can trade
with each other.
- occurs when prices among
different locations or related
goods follow similar patterns
over a long period of time.
TYPES OF RELATED MARKET WHEN
MARKET INTEGRATION OCCUR:
● Stock Market Integration - stock
markets in different countries
LESSON 3
THE GLOBAL INTERSTATE SYSTEM
GLOBALIZATION AND THE NATION- STATES
- Globalization in the early years of the
21st century has not displaced the
state.
- Max Weber define state as a
compulsory political organization
with a centralized government that
maintains a monopoly of the
legitimate use of force within a
certain territory.
- Hedley Bull stated that states are
independent political communities
each of which possesses a
government and asserts sovereignty
in relation to a particular portion of
the earth’s surface and a particular
segment of the human population.
- government and constitutions come
and go but states readily endure.
NEOLIBERALISM AND ECONOMIC
SOVEREIGNTY
Neoliberalism is the intensification of the
influence and dominance of capital.
- a project to strengthen, restore, or, in
some cases, constitute anew the
power of economic elites
- It emphasizes the significance of
contractual relations in the
marketplace.
Economic sovereignty on the other hand is
the power or national governments to make
decisions independently of those made by
other governments.
- globalized world economy,
governments have no alternative but
to adopt neoliberal economic
policies of privatization,
deregulations, and reductions in
public expenditures
Four Different Concepts Of Sovereignty
1. Legal Sovereignty - It refers to the
acceptance of a given state as a
member of the international
community.
2. Westphalian Sovereignty - It is
based on the principle that one
sovereign state should not interfere
in the domestic arrangements of
another
3. Interdependence Sovereignty - It is
the capacity and willingness to
control flows of people, goods and
capital into and out of the country
4. Domestic Sovereignty - It is the
capacity of a state to choose and
implement policies within the
territory
ECONOMIC AND POLITICAL INTEGRATION
European integration is the process of
industrial, political, legal, economic, social
and cultural integration of states wholly or
partially in Europe
European Union (EU), is an international
organization comprising 28 European
countries and governing common economic,
social, and security policies
- Austria, Belgium, Bulgaria, Croatia,
Cyprus, Czech Republic, Denmark,
Estonia, Finland, France, Germany,
Greece, Hungary, Ireland, Italy, Latvia,
Lithuania, Luxembourg, Malta, the
Netherlands, Poland, Portugal,
Romania, Slovakia, Slovenia, Spain,
Sweden, and the United Kingdom.
Economic integration can be described as a
process and a means by which a group of
countries strives to increase their level of
welfare.
- arrangement between different
regions that often includes the
reduction or elimination of trade
 barriers, and the coordination of
monetary and fiscal policies
SOCIAL MEDIA AND THE STATE
Social media is a computer-based
technology that facilitates the sharing of
ideas and information and the building of
virtual networks and communities.
- empowers
LESSON 4
THE CONTEMPORARY GLOBAL
GOVERNANCE
Global governance or world governance is
a product of neo-liberal paradigm shifts in
international political and economic
relations
- a movement towards political
integration of transnational actors
aimed at negotiating responses to
problems that affect more than one
state or region
- institutions of global governance
–the United Nations, the
International Criminal Court, the
World Bank, etc. tend to have limited
or demarcated power to enforce
compliance.
- Involve institutionalization relates to
the interaction of myriad collective
or individual entities
Global governance is a tool to identify
solutions to problems created by neo-liberal
globalization
- which form networks that engage to
address issues that threaten local
and global communities.
- concerned with issues that have
become too complex for a single
state to address alone.
- can be thus understood as the sum
of laws, norms, policies, and
institutions that define, constitute,
and mediate trans-border relations
between states, cultures, citizens,
intergovernmental and
nongovernmental organizations, and
the market.
The Roles and Functions of the United
Nations
- tasked to promote international co-
operation and to create and maintain
international order
- an intergovernmental organization
The United Nations (UN) in the world of
politics has the roles of preventing and
managing conflicts, regulating armaments,
championing human rights and international
humanitarian law, liberating the colonized,
providing economic and technical aid in
newly liberated countries, organizing
elections, empowering women, educating
children, feeding the hungry, sheltering the
disposed and displaced, housing the
refugees, tending the sick and coordinating
disaster relief and assistance
- policy motivation, peacekeeping is
the most important feature of UN
Challenges of Global Governance in the
Twenty-first Century
nation- state role in globalization is complex.
- are divided by physical and
economic boundaries
- reduced barriers in international
commerce and communication are
considered their potential threat.
- globalization is a force that changed
the way nation-states deal with one
another, particularly in the area of
international commerce