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SOC101 Lecture Notes - Berlin Wall, Worldwide Exchange, High Standard Manufacturing Company

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Barry Mc Clinchey

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What is it?
-Describes the worldwide exchange of money, goods and services as well as the socio-
cultural changes that occur with increasing trade and human contact
Emergence of Globalization
-16th century economic systems based on market principles emerged
-Demand for more exotic goods increased
-Colonization of the Americas, Africa and Asia
Globalization Today
-Economies are more interdependent and integrated
-Advance in communication technologies
-Creates vast divides between rich and the poor
Factors Contributing to Globalization
-Technological Change
-Accelerates globalization
-Historically, container shipping most important
-Political Change
-Collapse of Soviet Union
-Enhances spread of capitalism and democracy
-Economic Change
-Expanding trade and the emergence of international banking
-International Money Fund, World Bank, World Trade Organization, Transnational
Corporations (Blackberry, Walmart)
-Berlin Wall Separating East and West Berlin 1969 to 1989
-In 1989, the Soviet Union eased its authoritarian control over East Berlin
-Citizens were able to visit the Western sectors of Berlin
-The wall was mostly destroyed and the former political and economic power and
influence of the Soviet Union began to weaken
Defining Global Stratification
-First World
-Countries dominated by the USA and Western Europe, incl. Britain and France
-Capitalist economic system
-Second World
-Countries dominated by the former Soviet Union (Eastern Europe)
-Separate communist economic system
-Third World
-Countries where the economies were not under the direct influence of either the
First or Second World
-Usually because they were too poor to be of significant interest
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