is the process by which individuals, groups, corporations, and nations become more interconnected and interdependent, economically, politically, culturally, and technologically., Globalization, It is the process by which the world, previously isolated through physical and technological distance becomes increasingly interconnected., Globalization, Closed borders but open digital flow, COVID-19, Shift to e-commerce, remote work, virtual classrooms, Shift to e-commerce, remote work, virtual classrooms, refers to the removal or reduction of restrictions or barriers—such as tariffs, quotas, and import bans—on the free exchange of goods between nations., Trade liberation, the process of reducing or eliminating government rules and restrictions in specific industries to encourage more competition and innovation., Deregulation, refers to the flow of capital from one country to another through foreign direct investment (FDI) or portfolio investments (like buying stocks or bonds in another country)., Cross-Border Investment, MNCs are companies that operate in more than one country, often with headquarters in one and branches or subsidiaries in others., Rise of Multi-National Corporations, Internet, communication tech=major drivers, The Role of Technology, e-commerce, e- learning, digital workspaces, Digital economy, Glocalization through ICT’s, Glocalization through ICT’s, a figure of speech that describes an object or action in a way that isn’t literally true., Metaphor, Refers to barriers that may prevent free movement and it can be natural or man-made., Solid, Refers to increasing ease of movement of people, things, information, and places in the global age., Liquid, Refers to the free movement of people, things, ideas, and culture across the globe due to the advances in technology, economic and political integration, and establishment of global policies that lessens and eliminates the existing borders., Flow, Connected China and Rome through caravan trade, Silk Roads, Dominated by Islamic, Indian, and Southeast Asian traders,Connected ports across the Indian Ocean, Red Sea, Mediterranean, Spice Routes, Initiated by European nations seeking direct access to Asia,Major explorers: Magellan, da Gama, Columbus,Led to colonization, conquest, and global shipping routes,Global supply chains formed but empires controlled trade, Age of Discovery, Powered by the Industrial Revolution,Inventions: steam engine, railroads, telegraph, refrigerated ships, First Wave of Globalization, Led by USA + Western Allies after WWII,Rebuilding with new tech (planes, radio, container ships),Creation of EU, IMF, World Bank,Free trade agreements like GATT, Second Wave of Globalization, Fall of the Berlin Wall, end of Cold War,China’s manufacturing boom, rise of India,Formation of WTO,Integration of internet + digital tech,Trade reached 14% of global GDP again; poverty declined in Asia,Cold war recovery and digital integration, Third Wave of Globalization, This places a strong emphasis on how economic interconnectedness, open trade, and free markets all contribute to the promotion of globalization. Liberal theorists contend that globalization increases everyone’s efficiency, production, and prosperity. They contend that globalization promotes international cooperation and aids in the spread of democratic values., Liberalism, This places a strong emphasis on the role that power and self-interest play in determining the dynamics of globalization. Realist thinkers contend that countries pursue their interests on a global scale and that the desire for increased economic and military clout drives globalization. They believe that instability and war are caused by globalization., Political Realism, The interests of the capitalist elites are those that drive globalization. Marxists contend that because of globalization, workers are exploited, and economic disparities increase. They believe that the global economy favors the wealthy at the expense of the underprivileged., Marxism, This places a strong emphasis on how ideas and social norms influence globalization. Constructivists contend that shared cultural practices, values, and beliefs are what cause globalization. They view globalization as a process that facilitates the spread of new ideas and supports a cultural variety., Constructivism, This highlights the significance of cultural variation and difference. Postmodern thinkers contend that globalization causes cultures to become more homogeneous and local traditions to disintegrate. They view globalization as a process that gives rise to new varieties of cultural hybridity and identity., Postmodernism, It emphasized the influence of gender and gender inequality on globalization. Feminist theorists contend that the effects of globalization are gendered, with women frequently bearing the brunt of societal and economic change. According to them, globalization may both empower and disempower women., Feminism, This highlights the transforming potential of globalization. According to transformationalists, globalization is a process of social and cultural change that has the potential to lead to multiple identities and communities. According to them, globalization fosters the dissemination of democratic ideals and the expansion of civil society., Transformationalism, This highlights the importance of utilizing a variety of theoretical viewpoints to understand the intricate and multidimensional nature of globalization. According to eclectic theorists, no one theory can adequately account for all the social, economic, and cultural forces influencing globalization. They regard the process of globalization as requiring a complex, interdisciplinary approach., Eclecticism, Liberalism, Political Realism, Marxism, Constructivism, Post Modernism, Feminism, Transformationalism,Eclecticism, Theories of Globalization

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