Contemporary

Complex phenomenon that occurs at multiple levels.

It is an uneven process that affects people differently

According to __________ globalization is the expansion and intensification of social relations and consciousness across world-time and across world-space.

Refers to both the creation of new social networks and the multiplication of existing connections that cut across traditional political, economic, cultural, and geographic boundaries

Refers to the expansion, stretching, and acceleration of these networks

He notes that globalization processes do not occur merely at an objective, material level but they also involve the subjective plane of human consciousness

It is a widespread belief among powerful people that the global integration of economic markets is beneficial for everyone

Common belief forwarded in media and policy circles

According to him globalization occur on multiple and intersecting dimensions of integration that he calls scapes

Refers to the global movement of people

It is about the flow of culture.

Refers to circulation of mechanical goods and software.

Denotes the global circulation of money

Realm where political ideas move around.

It Regards economic globalization as a historical process representing the result of human innovation and technological progress.

According to IMF, the value trade as a percentage of world GDP increased from _____ percent in 1980 to ___ percent in 2007.

According to the _____ , the amount of foreign direct investment flowing across the world was ________ in 1982. By 2015, that number was ______.

A network of pathways in the ancient world that spanned from China to what is now Middle East and to Europe.

According to historian ______________ and ____________, the age of globalization began when all important populated continents began to exchange products continuously-both with each other directly and indirectly via other continents- and in values sufficient to generate crucial impacts on all trading partners.

It is the trade that connect Manila in the Philippines and Acapulco in Mexico

Also a system of global trade with multiple restrictions.

UK, US and other European nations adopted the _________ at an international monetary conference in Paris. Its goal was to create a common system that would allow for more efficient trade and prevent isolationism of the mercantilist era.

This depression was the worst and longest recession ever experienced by the Western world.

It was largely caused by the gold standard, since it limited the amount of circulating money and therefore, reduced demand and consumption.

It is the currencies that are not backed by precious metals and whose value determined by their cost relative to other currencies.

This system allows governments to freely and actively manage their economies by increasing or decreasing the amount of money in circulation as they see fit.

It was inaugurated in 1944 during United Nations Monetary and Financial Conference to prevent the catastrophes of early decades of century from reoccurring and affecting international ties.

He believed that economic crises occur not when a country does not have enough money, but when money is not being spent and, thereby, not moving.

When economies slow down, according to Keynes, governments have to reinvigorate markets with infusions of capital. This active role of government in managing spending served as the anchor for what would be called a system of __________?

These are the 2 financial institutions agreed by the delegates of Bretton Woods.

It is responsible for funding post war reconstruction projects.

Global lender of last resort to prevent individual countries from spiraling into credit crises.

Its main purpose is to reduce tariffs and other hindrances to free trade.

It is a decline in economic growth and employment (stagnation) takes place alongside a sharp increase in prices (inflation).

They argued that the governmens' practice of pouring money into their economies had caused inflation by increasing demand for goods without necessarily increasing supply.

It became the codified strategy of the United States Treasury Department, World Bank, IMF and World Trade Organization .

A new organization founded in 1995 to contribute the tariff reduction under GATT.

It dominated global economic policies from 1980's to 2000's. Its advocates pushed for minimal government spending to reduced government debt.

Central tenet of globalization.

TNC

GATT

OAPEC

GDP

IMF

MBS

NGO

Advocates ng neoliberalism