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Globalization Lecture Notes

3 Pages

Course Code
SOC 101
Barry Mc Clinchey

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Globalization 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 - TechnologicalChange - Accelerates globalization - Historically, container shipping most important - Political Change - Collapse of Soviet Union - Enhances spread of capitalism and democracy - EconomicChange - 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 - FirstWorld - Countries dominated by the USA and Western Europe, incl. Britain and France - Capitalist economic system - SecondWorld - Countries dominated by the former Soviet Union (Eastern Europe) - Separate communist economic system - ThirdWorld - 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 The economic and political influence over most of the Soviet satellite states also weakened - The world economic and political structures re-focused - A world order more closely aligned to capitalism began to emerge - The communist-centered focus of the former Soviet Union diminished Defining Global Stratification - GlobalNorth: - includes Western Europe, Canada, US, Australia and Japan (the advanced democracies with technology, modernization....) - Democratic and technologically advanced, high standard of living, well- educated, access to healthcare and clean water, stable political structures - GlobalSouth - Poor countries of the world - includes Asia, South America and Africa - Lack financial, industrial and technological infrastructure necessary to develop their own competitive economies Globalization and Inequality - Globalization has created massive wealth in parts of the world and crushing poverty in others - The incomes of the world’s riches 50 people combin
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