Malaysia- home country of Latif

Cebu,Philippines- home country of Gio

International Model UN competition- Sydney, Australia

Singapore- Latif and Gio met again after few years

Globalization- usually refers to the integration of the national markets to a wider global market signified
by the increased free trade

-complex phenomenon that occurs at multiple levels

-an uneven process that affects people differently.

-(Manfred Steger) the expansion and intensification of social relations and consciousness across
world-time and across world-space.

Expansion- 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."

Intensification- refers to the expansion, stretching and acceleration of these networks.

Anti-globalization- resisting the trade deals among countries facilitated and promoted by global
organizations like the WTO.

Globalism- widespread belief among powerful people that the global integration of economic markets is
beneficial for everyone, since it spreads freedom and democracy across the world.

Scapes- (Arjun Appadurai) multiple and intersecting dimensions of integration.

Ethnoscape- refers to the global movement of people

Mediascape- about the flow of culture

Technoscape- refers to the circulation of mechanical goods and software

Financescape- denotes the circulation of money

Ideoscape- realm where political ideas move around

Chapter 2

Economic globalization- (International Monetary Fund) historical process representing the result of
human innovation and technological progress.

-refers to the increasing integration of the economies around the world.

High-frequency trading- supercomputers can execute millions of stock purchases and sales between
cities in a matter of seconds

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

Dennis O. Flynn & Arturo Giraldez- 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.

1571- galleon trade connected Manila in the Philippines and Acapulco in Mexico.

To defend the products from competitors who sold goods more cheaply

1. Imposed high tarrifs

2. Forbade colonies to trade with other nations

3. Restricted trade routes

4. Subsidized its exports

Mercantilism- system of global trade with multiple restrictions.

Adopted the gold standard

1. United Kingdom

2. United States

3. European nations

Gold standard- its goal was to create a common system that would allow for more efficient trade and
prevent the isolationism of the mercantilism era.

Great Depression- global economic crisis started during the 1920s up to 1930s.

Barry Eichengreen- argues that the recovery of US really began when having abandoned gold standards

Fiat currencies- currencies that are not backed by precious metal

Bretton Woods System -ensure longer-lasting global peace

- was inagurated in 1944 during the UN Monetary and Financial conference to prevent the
catastropes of the early decades of the century from reoccuring and affecting International ties.
John Maynard Keynes - 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.

Global Keynesianism - active role of governments in managing spending served as the anchor for this
system

Two financial Institutions(Delegates at Bretton Woods)

1) International Bank for reconstruction and development (IBRD or World bank) - responsible for
funding postwar reconstruction projects.

2) International Monetary Fund (IMF) -global lender of last resort to prevent individual countries from
spiraling into credit crises.

General Agreement on Tarrifs and Trade (GATT) 1947 - reduce tarrifs and other hindrances to free trade.

Organization of Arab Petroleum Exporting Countries (OAPEC)- Yom Kippur War

Oil embargo- affected the western economies that were reliant on oil.

Stagflation- a decline in economic growth and employment (stagnation) takes place alongside a sharp
increase in prices (inflation)

Friedrich Hayek & Milton Friedman- argued that the government's practice of pouring money into their
economies had caused inflation by increasing demand for goods without necessarily increasing supply.

Milton Friedman- use the economic turmoil to challenge the consensus around Keynes's ideas

Neoliberalism- became the codified strategy of the US Treasury Department, the World Bank, the IMF,
and eventually the World Trade Organization- a new organization founded in 1995 to continue the tarrif
reduction under the GATT. The policies they forwarded came to be called the Washington Consensus.

Washington Consensus- pushed for minimal government spending to reduce government debt

Shock therapy-necessary for long-term economic growth

US President Ronald Reagan and British Prime Minister Margaret Thatcher- advocates of neoliberalism

Thatcher- promoted an image of herself as a mother, who reined in overspending to reduce the national
debt.

Mortgage-backed securities (MBSs)- one mbss would be a combination of multiple mortgages that they
assumed would pay a steady rate.

Sub-prime mortgages- high-risk mortgages

Lehman Brothers- major investment bank that collapsed in September 2008,thereby depleting major
investments.
President Barack Obama- use the large Kaynesian-style stimulus package to relatively quickly recover the
US

Marine Le Pen's Front National (France)- have risen to prominence by unfairly blaming immigrants for
their woes

Developing countries

1. Philipines

2. India

3. China

4. Brazil

5. Argentina

Trade liberalization- reduction of trade barriers

Large asian economies

1. Japan

2. China

3. Korea

4. Hong Kong

5. Singapore

Japan- rice

US- sugar

TNCs- transnational corporations- beneficiaries of global commerce

-concerned more with profits than with assisting the social programs of the governments hosting
them.

Race to the bottom- countries lowering their labor standards.

Finite resources

1. Oil

2. Coal

3. Minerals
International economic integration-central tenet of globalization

Chapter 3

International relations- study of political, military and other diplomatic engagements between two or
more countries.

Internationalization- explore the deepening of interactions between States

4 key attributes of world politics

1. There are countries or states that are independent and govern themselves.

2. These countries interact with each other through diplomacy.

3. There are international organizations, like the United Nations(UN), that facilitate these interactions.

4. Beyond simply facilitating meetings between states, international organizations also take on lives of
their own.

Nation-state- relatively modern phenomenon in human history and people did not always organize
themselves as countries.

Christendom- the entire Christian world

"Not all states are nations and not all nations are states."

"If there are states with multiple nations, there are also single nations with multiple states."

State- refers to a country and its government

4 attributes

1. It exercises authority over a specific population, called its citizens

2. It governs a specific territory

3. A state has a structure of government that crafts various rules that people follow

4. The state has sovereignty over its territory

Sovereignty- refers to internal and external authority

- one of the fundamental principles of modern state politics

Nation (Benedict Anderson)- imagined community, it is limited because it does not go beyond a given
"official boundary"
Treaty of Westphalia- set of agreements signed in 1648 to end the Thirty Years' War between the major
continental powers of Europe.

Napoleon Bonaparte- believed in spreading the principles of the French revolution (1)liberty, (2) equality
and (3)fraternity- to the rest of Europe and thus challenged the power of (1)kings, (2)nobility and
(3)religion in Europe.

Napoleonic Code- forbade birth privileges, encouraged freedom or religion and promoted meritocracy in
government service.

Battle of Waterloo- defeated Napoleon in 1815

Concert of Europe- alliance of "great powers"-(1)United Kingdom,(2)Austria,(3)Russia and (4)Prussia-

this alliance sought to restore the sovereignty of states

Klemens von Metternich- who was the system's main architect.

Security Council- most powerful grouping in the UN, has a core of five permanent members, all having
veto powers over the council's decision-making process.

Internationalism- desire for greater cooperation and unity among states and people

2 different forms of internationalism

1. Liberal internationalism

*Immanuel Kant- he likened states in a global system to people living in a given territory, in short he
imagined a form of global government

- emphasized the need to form common international principles

*Jeremy Bentham- advocated the creation of "international law" that would govern the inter-state
relations. "The greatest happiness of all nations taken together"

*Giuseppe Mazzini- advocate of the unification of the various Ilatian-speaking mini-states and a
major critic of the Metternich system. He believed in republican government-democratic

-enshrined the principles of cooperation and respect among nation-states

*President Woodrow Wilson- saw nationalism as a prerequisite for internationalism.

-called for democracy and self-determination

-most notable for the creation of the League of Nations.

-awarded Nobel peace prize in 1919

 Principle of self-determination- the belief that the world's nations had a right to free and
sovereign government.

Axis Power

1. Adolf Hitler- Germany

2. Mussolini- Italy

3. Hirohito- Japan

Ultra-nationalists that had an instinctive disdain for internationalism and preferred to violently impose
their dominance over other nations.

Allied Powers

1. United States

2. United Kingdom

3. France

4. Holland

5. Belgium

World health organization(who)

International labour organization (ilo)

Karl Marx- he did not believe in nationalism

Divide the world into 2 classes

1. Capitalist- owners of factories, companies, and other means of production

2. Proletariat- did not own the means of production, but instead, worked for the capitalists.

2. Socialist internationalism

Friedrich Engels- believed that in a socialist revolution seeking to overthrow the state and alter the
economy , the proletariat "had no nation"

Socialist international(SI)- union of european socialist and labor parties established in Paris in 1889
(declaration of May 1, labor day and the creation of an international women's day

Russian revolution
Czar Nicholas II- overthrown and replaced by a revolutionary government led by the Bolshevik party and
its leader, Vladimir Lenin.

Vladimir Lenin- Russian revolutionary who founded the Communist International to spread socialist
revolutions across the world.

Union of Soviet Socialist Republics(USSR)- bolsheviks did not believe in obtaining power for the working
class through elections. They use terror now called the parties as Communist parties.

Communist International (Comintern) -served as the central body for directing Communist parties all
over the world. Less democratic because it followed closely the top-down governance of the Bolsheviks.

Joseph Stalin- dissloved the Comintern in 1943

Communist information bureau(Cominform)- helped direct the various communist parties

that had taken power in Eastern Europe.

United Nations- center of global governance

Unilateralism- happens when one nation imposing a commerce treaty on other nations, but it benefits
only one country.

Golden Arches Development Corporation- company name of McDonald's.