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TNCT REVIEWER EXPLORING GLOBAL NETWORKS LOCAL NETWORKS - Mental or thinking network and the network of power relations in a community are logged in local networks. Global Networks Cover interrelations and interconnections of people, services, and institutions beyond the local, domestic, or national boarders and instead span the whole world. Global networks appear in in many forms such as international production networks, international security alliances, international amnesty, global network for tropical diseases, and world watch for marine life, among others. GLOBALIZATION Globalization is the integration of national economies through trade, investment, capital flow, labor migration, and technology. Globalization results from the removal of barriers between national economies to encourage the flow of goods, services, capital, and labor. While the lowering or removal of tariffs and quotas that restrict free and open trade among nations has helped globalize the world economy, transportation and communication technologies have had the strongest impact on accelerating the pace of globalization. DIMENSIONS OF GLOBALIZATION 1. ECONOMIC GLOBALIZATION - Economic globalization refers to the interconnectedness of economies through trade and the exchange of resources. - Refers primarily to international business which covers all contracts and negotiations concerning sales, investments, mobilization, and related transactions undertaken by two or more regions, countries, and nations outside their political territories. - These negotiations involve economic resources, including human power and capital necessary for production of goods for global consumption and maintenance of services such as banking, insurance, engineering, construction, information technology, and other profitable investment.
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