THE GLOBAL

ECONOMY
THE CONTEMPORARY WORLD
 example

Global economy

Is the interconnected worldwide economic

Activities that take place between multiple
Countries.
Topic to Discuss
• Define Economic Globalization.
• Identify the actors that facilitate economic globalization.
• Define the modern world system.
• Articulate a stance on global economic integration.
What is Economic Globalization?
• Economic Globalization refers to 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.
Identify the actors that facilitate econimic globalization.
• The actors that facilitate economic globalization are the
International Economic and Financial Organizations ,
International Governmental Organizations (IGOs) ,
Media , Multilateral Development Banks, Nation-States ,
Non-Governmental Organizations (NGOs) , Trans-
National Corporations (TNCs) , and United Nations
(UN) ...
Three Types of Factor
• International
• Economic
• Financial Organization
What is Modern World System?

• It is characterized by a capitalist world-economy including

a single division of labor but multiple polities and cultures
(interstate system). Both, the modern world-economy and
the interstate systems follow “one logic”, the ceaseless
capital accumulation (Sanderson, 2005).
Three Parts of Modern World System
• Core – Describe dominant capitalist countries which
exploit the peripheral countries for labor and raw
materials.
• Semi periphery - Are the industrializing, mostly capitalist
countries which are positioned between the periphery and
core countries.
• Periphery – lock a strong central government and may
be controlled by other states
Articulate a stance on global economic integration

• Measuring the impact of globalization onindividual

economies.

People, companies, and economies are more integrated

and interconnected than ever before this help facilitate
connections, which leads to specialization, innovation,
and economic progress. Through these connections,
economies benefit from the knowledge and experience of
others, and learn how to replicate or adapt ideas for their
own needs.