SYNTHESIZING: MULTIDIMENSIONS OF GLOBALIZATION

GROUP NUMBER: 3 DATE: 02/15/02

Key term/idea (K) - newly introduced concepts from the readings
Information (I) - may be the definition, or it may be a technical explanation of the idea
Memory Clue (M) - a way for you to fully integrate the meaning of the key idea into
your memories (digital, no downloaded images, must be an original drawing)
Rubric: Content – 10 points Organization – 10 points Visual Appeal – 10 points

Member’s Name Assigned tasks

1. Comom, Aron Keith Political Globalization

2. Magno, Emmanuelle Economic Globalization

3. Raras, Paul James Cultural Globalization

4. Aquien, Wreina Economic Globalization & Political Globalization

5. Estepa, Afanie Mae Memory Clue (Chapter 1, 2 & 3)

6. Tinggalen, Misty Angel Economic Globalization & Cultural Globalization

Chapter 3 - Economic Globalization

K (KEY IDEAS) I (INFORMATION) M (MEMORY CLUE)

1. Neoliberalism Neoliberalism is a policy model that

encompasses both politics and
economics. It emphasizes free
trade, deregulation, globalizations,
and a reduction in government
spending.
2. Monetarist A monetarist is an economist who
holds the strong belief that money
supply which includes physical
currency, deposits, and credit is the
primary factor affecting demand in
an economy. Consequently, the
economy’s performance - its
growth or contraction- can be
regulated by changes in the money
supply.

3. Peak Trade Peak Trade is when business is

booming, and your store will be
busiest. The biggest sales potential
for stores throughout the year are
during peaks. It is the time of year
when many shops boost their
revenues and make up for slow
months.

4. Economic Integration Economic integration is a deal

between countries that often
involves lowering or removing trade
restrictions and coordinating
monetary and fiscal policies. In
other words, economic integration
can foster an atmosphere where
new businesses can flourish or fail
quickly and cheaply and where
established businesses can expand,
become more productive, or leave
the market.
5. Financialization of Giovanni Arrighi described
financialization as a “long
Global Capitalism
distinction between different
economies and real economies”
(Arrighi, 1994). A commercial,
economic, and political process
that affects the entire economy as
opposed to only the expansion of
the financial sector. Additionally
known as the generating of profits
and the buildup of capital through
financial channels as opposed to
trade and the manufacturing of
commodities.

6. Economic Globalization refers to the intensification,

stretching of economic
connections, and increasing
interdependence of world
economies as a result of growing
scale of cross border of
commodities and services, flow of
international capital, and wide and
rapid spread of technologies.

7. Golden Age of
spanned from the end of the
controlled capitalism.
second world war 2 in 1945 to the
early 1970’s. It was a period of
economic prosperity with the
achievement of high and sustained
levels of economic and productive
growth
8. Collateralized debt It is a complex structured finance
product that is backed by a pool of
obligation
loans and other assets and sold to
institutional investors.

9. Structural Adjustment These are economic policies for

developing countries that have
programs
been promoted by the World Bank
and International Monetary Fund
since the early 1980’s by the
provision of loans on the adaption
of such policies

10. Jubilee debt campaign It is now known as Debt justice, it

exists to build collective power to
end debt that exploits people and
the planet.

Chapter 4 - Political Globalization

K (KEY IDEAS) I (INFORMATION) M (MEMORY CLUE)
1. Fourteen Points by The Fourteen Points was a
statement of principles for peace
Wilson
that was to be used for peace
negotiations in order to end World
War 1. The principles were outlined
in a January 8, 1918 speech on war
aims and peace terms to the
United States Congress by President
Woodrow Wilson.

2. League of Nations The League of Nations was the first

worldwide intergovernmental
organization whose principal
mission was to maintain world
peace. It was founded on January
10, 1920 by the Paris Peace
Conference that ended the First
World War.

3. Hyperglobalizers Hyperglobalizers are of the opinion

that globalization is real and
everywhere. It brings about
accelerated economic
interdependence and intense
competition, which leads to
qualitative economic growth
4. Schengen The Schengen Agreement signed
on June 14, 1985, is a treaty that led
Agreement
most of the European countries
towards the abolishment of their
national borders, to build Europe
without borders known as the
“Schengen Area”. Signed in
Luxemburg, initially by only five EU
countries, the agreement remains
one of the world’s largest areas
that have ended border control
between member countries.

5. Zero-tolerance Zero-tolerance approach is a

strategy that aims to reduce minor
approach
offenses and more serious crime
through relentless order
maintenance and aggressive law
enforcement, against even minor
disorder and incivilities.

6. Cosmopolitan Cosmopolitan Democracy is a

political theory which explores the
Democracy
application of norms and values of
democracy at the transnational
and global sphere. It argues that
global governance of the people,
by the people, for the people is
possible and needed.
7. Globalization The Globalization Sceptics /Skeptics
is defined as a socially constructed
Sceptics/Skeptics
vulnerability that emanates from
global interdependencies. The
skeptics argue that the side effects
of globalization on society are
much greater than the positive
effects.

8. Global Civil Society Global Civil Society is a shared

realm populated by thousands of
voluntary, non-governmental
associations of worldwide reach.

9. Political Political Globalization refers to the

intensification and expansion of
Globalization
political interrelations across the
globe.
 10. Global Global Governance refers to
institutions that coordinate the
Governance
behavior of transnational actors,
facilitate cooperation, resolve
disputes, and alleviate collective
action problems. Global
Governance broadly entails
making, monitoring, and enforcing
rules.

Chapter 5 - Cultural Globalization

K (KEY IDEAS) I (INFORMATION) M (MEMORY CLUE)

1. Pessimistic Pessimistic Globalizers contend that

it is a sort of Western, American
Globalizers
imperialism. They view the process
of globalization as an attempt to
impose Western institutions and
ideologies on the rest of the globe.
2. Cultural Imperialism The broadest definition of cultural
imperialism is the exercise of
dominance in cultural relationships
where one or more native cultures
are forced to adopt the beliefs,
customs, and practices of a
powerful foreign culture. The forced
adoption of the cultural practices
and customs of real imperial
occupying powers, from antiquity
through nineteenth- and twentieth-
century European colonialism,
could be given as an example.

3. Cultural Cultural hybridization is the creation

of a new culture through the fusion
Hybridization
of two or more distinct cultures
through time through contact and
interaction. It is an ongoing process
that occurs everywhere and is sped
up by contacts across societies.

4. Global Oligopoly Global oligopoly refers to a market

structure in which a small number of
firms dominate a particular industry
on a worldwide scale. These firms
have significant market power and
are able to control the price and
supply of goods and services in the
industry.
5. Americanization Americanization refers to the
spread or adoption of American
culture, values, and practices
around the world. This can include
things like the use of the English
language, American consumer
products, media, entertainment,
and political ideas. Americanization
has been attributed to various
factors, including the influence of
American economic and military
power, as well as the global reach
of American media and
technology.

6. Optimistic Optimistic globalizers are individuals

or groups who believe that
Globalizers
increased globalization, or the
process of increased
interconnectedness and
interdependence among countries,
will lead to positive outcomes for
the world as a whole. They may
argue that globalization can
improve economic growth, create
more opportunities for cultural
exchange and understanding, and
foster cooperation among
countries.

7. Homogenization Homogenization dynamic in

globalization refers to the process
Dynamic
by which cultural and economic
differences between societies are
reduced, leading to greater
uniformity and sameness across the
world. This can occur through the
spread of global consumer culture,
the adoption of Western business
practices and economic systems,
and the increasing use of a
common language, such as English.
8. Globish The lingua franca of the 21st
Century, formalized by Jean Paul
Nierre in 2004, as a simplified copy
of anglo-american english.

9. Consumerist Consumerist capitalism is an

economic system in which the
Capitalism
production and consumption of
goods and services is the primary
driver of economic growth and
prosperity. In this system, the goal of
businesses is to produce and sell as
much as possible in order to
generate profits, and the goal of
consumers is to acquire as much as
possible in order to satisfy their
needs and desires.

10. Free-Market Free-market enthusiasts are

individuals or groups who support
Enthusiasts
economic systems based on the
principles of free markets and
capitalism, in which economic
decisions are made by private
individuals and businesses, rather
than by the government or other
centralized institutions.