Chapter 9

Chapter 9 - Chapter 9 Globalization and Development...

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Chapter 9: Globalization and Development Globalization – the most fundamental reorganization of the planet’s social and economic structure since the Industrial Revolution. In today’s world money flows faster, goods move quickly and information and communication is instantaneous People travel more quickly and more often Human contact has been changed/transformed Clothing is manufactured a world away, call centres provide services in countries far away Planet Hollywood - conjures up an image of globalization Globalization - Wikipedia In its literal sense is the process of transformation of local or regional phenomena into global ones. It can be described as a process by which the people of the world are unified into a single society and function together. This process is a combination of economic, technological, sociocultural and political forces. Globalization is often used to refer to economic globalization, that is, integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. Economic globalization - 4 main economic flows: 1. goods and services (exports/imports), 2. Labour/people (migration), 3. Capital (investment inward or outward) 4. Technology (call centres etc) Globalization Many view globalization as primarily an economic phenomenon involving the integration of national economic systems through the growth in international trade, investment and capital flow. Involves social, cultural and technological exchange. Began primarily after the collapse of the Soviet Union. Internet – makes global business possible Increases competition, spread of new technologies and ideas, flow of goods and capital across international borders
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What are the social costs? The Third World 1st World - The West (Industrialized countries of North America and Europe) 2nd World - Soviet - led Eastern bloc 3rd World - countries closer to the equator and poorer. Since the collapse of the Soviet Union the concept has less meaning referred - The South, Majority World, underdeveloped countries “Developing countries send developed countries 10 times as much money through unequal trade and financial relations as they receive in foreign aid.” Newly Industrialized country (NIC) A socio-economic classification applied to countries whose economies have not yet reached first world status but have outpaced other developing countries NIC’s are undergoing rapid economic growth (export-oriented). In many NICs social upheaval is occurring as rural populations migrate to cities where manufacturing jobs are South Africa Mexico Brazil China India Malaysia Philippines Thailand Turkey Workers in developing countries Bangkok 1993 - dolls toy factory - fire -188 workers dead Unknown death toll - only 1/30 legal employee. others were from Thailand
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Chapter 9 - Chapter 9 Globalization and Development...

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