TCW Topic 2 Reviewer

A dimension that derives partly from its historical development. Evolution of international markets and corporations led to an intensified form of global interdependence.

Represents the manifestation of international trade, financial transfers, and foreign direct investment, the increasing internationally interconnected economy.

Trade agreements like FTAA, NAFTA, CAFTA facilitate international trade, thereby strongly impacting people at all levels of the economy. They make trade free for Northern exports without prohibiting the rich countries protectionist measure that harm southern competitors.

Is an agreement or treaty given with the terms and conditions discussed and undertaken by three or more sovereign parties namely the participating nations or private entities

This have become some of the largest economic entities in the world, surpassing many states. Their continuous push for liberalization has driven globalization while challenging environmental, health, and labor standards in many countries.

An investment to a business in a given nation state in the form of controlling its ownership. Foreign direct investment has increased tenfold over the last decades. While many poor countries see foreign capital as a tool for growth, it has often increased instability and inequality as well.

The intergovernmental organization sets and enforces the rules of international trade between the nations and states. This intergovernmental organization has become a target of civil society’s criticism over its solid, undemocratic operating procedures and neo-liberal ideology.

Its function is to eradicate poverty by loaning poor countries money for economic development, but these loans often come with demands of economic liberalization.

An intergovernmental organization that envisions as a lender of last resort for countries experiencing economic crises. Aims to facilitate international trades, assist global monetary cooperation and reduce the poverty to the borrowing nation.

To implement __________ the need for democratic oversight and control, the policy shaping effects, distributive effects, and the possible use of such taxes to fund the UN, its agencies and other programs for worldwide human security and development.

Actors of Economic Globalization

Historically functioned as the most comprehensive business forum committed to liberalization. Refers to itself as the World business association

The group provided a context for more comprehensive international capitalist coordination and Planning.Assembled in the spirit of corporate liberalism, representatives of Right and Left, capital and organized labor.

Its goal is to foster effective collaborative leadership in the international system and closer cooperation among the core capitalist regions of Northern Europe, North America and Japan – the triad.

Convened Europe’s CEOs to an informal gather in Switzerland to discuss European strategy in an international marketplace.

Formed in a merger of the Geneva-based Business Council for Sustainable Development and the Paris-based World Industry Council for the Environment (ICC branch).

The theory argues that today’s modern world system is completely unique from any previous time in history, because of its reliance on total global economic control.

Wallerstein demonstrates his perspective through his social theory. His perspective supports the idea that capitalism is more negative than positive in nature for those under its constraints. Instead of focusing on those that prosper from capitalism, he recognizes the semi-peripheral and peripheral communities that are largely disenfranchised.

The Multiple Crises of Global Capitalism

The overcapacity that could portend more than an ordinary recession. Tied to an increasingly integrated global production system and market, the manufacturing sector of the world’s economy.

This refers to the increasing inability of the neoliberal ideology underpinning today’s global capitalism to persuade people of its necessity and viability as a system of production, exchange and distribution.

In both the North and South liberal democracy has served as the political cocoon for the stable reproduction of capitalism, so the importance of its legitimacy and stability cannot be understated.

The recent expansion of US military influence into Afghanistan, Philippines, Central and south Asia may communicate strength, yet, despite all this movement, the US has not been able to consolidate victory anywhere.

These crises are unfolding even as the movement against corporate globalization, neo-liberalists, free trades and other policies.

The inability of a system to deliver its promises – is its revelation of opposing interests between the elites and the vast majority, and the realization of common interests among the latter.