SY101 Chapter Notes - Chapter 5: Core Countries, Expert System, World-Systems Theory
8
SY101 Full Course Notes
Verified Note
8 documents
Document Summary
Involves cost cutting, downsizing, closing facilities, relocating to places where labour cost, taxes and environmental protection is lower: latest stage in a process characterized by the spread and intensification of capitalism across the globe. Involves interaction and integration of increasing numbers of people through international trade and investment, travel and tourism, and information technology and the mass media: textile/garment industries among first to be globalized. Globalization: the issues: disappearance of local enterprises, resturaunts, entertainment venues due to big named business is who are loss leaders (reduce prices, gain customers over competition and drive local stores out of business) Increase inequalities of wealth, power, and privilege occur at the expense of less developed and poorer regions. Globalization, inequality, and development: first/developed/industrialized; second/developing/industrializing; third/undeveloped/least industrialized used to depict global stratification. 3 primary dimensions: property (wealth), power (they get their way in international relations), and prestige (rightly or wrongly, they are looked up to as world leaders with something to contribute to humanity)
