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Lecture 10

ADM 1101 Lecture Notes - Lecture 10: International Non-Governmental Organization, International Monetary Fund, Labor Rights

Course Code
ADM 1101
Kevin Petit- Frere

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ADM 1101 - Lecture 10 Notes
What is globalization?
Globalization: A process of decreasing constraints on the
interactions among the nations and people of the world.
Economic Globalization: Integration of fragmented markets
into a global economy.
Political Globalization: Process by which world power
relationships change and there is a loss of sovereignty by the
Social Globalization: The emergence of a worldwide cultural
The Impacts of Globalization
Damages the environment
Support for oppressive regimes.
Criticism of marketing practices.
Arms Trade
Treatment of employees
Treatment of indigenous peoples.
Genetic modification of plants and animals.
Corruption and bribery.
Globalization can lead to increased poverty.
Institutions of Globalization
Supranational Institution: An international organization that transcends national boundaries
where the member states share in the decision making on issues involving members.
The world Bank: The world bank provides financial and tech assistance to countries that are
The International Monetary Fund (IMF): Enables financial stability, international trade,
employment, and poverty reduction.
The International Labour Organization (ILO): A United Nations agency that seeks to promote
social justice and internationally recognized human and labour rights.
World Trade Organizations (WTO): Coordinates the agreements that reduce trade barriers
between countries.
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