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Diagram Illustrating The Globalization Concept and Process

This document provides a diagram illustrating the concept and process of globalization. It shows that globalization has progressed through stages like colonialism and imperialism and is now facilitated by international organizations like the WTO, IMF, and World Bank as well as technological innovation, neo-liberal ideology, and multinational corporations. The diagram defines globalization as the growth of political, economic, social, and cultural relations across borders through characteristics such as increased world trade and integration of markets.

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618 views1 page

Diagram Illustrating The Globalization Concept and Process

This document provides a diagram illustrating the concept and process of globalization. It shows that globalization has progressed through stages like colonialism and imperialism and is now facilitated by international organizations like the WTO, IMF, and World Bank as well as technological innovation, neo-liberal ideology, and multinational corporations. The diagram defines globalization as the growth of political, economic, social, and cultural relations across borders through characteristics such as increased world trade and integration of markets.

Uploaded by

Anonymous hWHYwX6
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Diagram Illustrating the Globalization Concept/ Process

GLOBALIZATION
Definition:
The growth and intensification of
political, economic, social and
cultural relations across borders.

STAGES:
Colonialism Characteristics:
Imperialism Liberlization of world trade.
FACILITATORS Formation of regional trading blocs.
Integration of money and capital
markets

World Trade
Organization
World Bank
Objectives: International Monetary Fund (WB)
Liberlize world trade and create an (IMF)
open global trading system.

Principles: Prime Movers:


Non-discrimination Purpose: Technological innovation
Most-Favoured Nation Treatment To provide short-term loans to developed Role: Neo-liberal ideology
(MFN) countries. Make loans to less-developed Transnational and Multi-
National Treatment Since 1980: approve applications for commercial countries below commercial national Corporations
Predictability loans from developing countries. interest rates. (TNC/MNCs)
Set conditions for loans. Approves structural and sector
adjust loans

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