CONTEMPORARY 10) Travel and Tourism

11) External Borrowing

WORLD DISADVANTAGES
1) Health Issues
 GLOBALIZATION- describe the changes in societies 2) Loss of Culture
and the world economy 3) Uneven Wealth Distribution
- free trade 4) Environment Degration
- can mean: the formation of a global 5) Disparity
village; economic globalization 6) Conflicts
- more efficient allocation of resources 7) Cut-Throat competition
SIGNS OF GLOBALIZATION
1) Increase in international trade at a faster ECONOMIC GLOBALIZATION- refers to the
increasing interdependence of world economies
rate than the growth in the world
as a result of the growing scale of cross-border
economy trade of commodities and services,
2) Increase in international flow of capital - increasing interdependence of world
including foreign direct investment economies
3) Greater international travel and tourism - continuing expansion
4) Greater immigration, including illegal According to SOCIOLOGY
- Ongoing process that involves
immigration
interconnected changes in the
5) Development of global economic, cultural, social, and
telecommunications infrastructure political spheres of society.
6) Development of a global financial CULUTURAL ASPECT
systems - it refers to the global spread and
ANTI GLOBALIZATION integration of ideas, values, norms,
1) Corporatist agenda- constricting the behaviors, and ways of life.
POLITICS
freedoms of individuals in the name of
- development of forms of governance
profit. that operate at the global scale,
2) Imposes credit based economics, whose policies and rules cooperative
resulting in unsustainable growth of debt nations are expected to abide
and debt crises. ECONOMIC SYSTEMS
ADVANTAGES
1) Capitalism AKA Market Economy
1) Peaceful Relation
- no government intervention
2) Employment - there is a separation of the
3) Education government and the market.
4) Product Quality 2) Socialism AKA Command Economy
5) Cheaper Prices - a large part of the economic
6) Communication system is controlled by a
7) Transportation centralized power.
- capable of creating a healthy
8) GDP Increase
supply of its resources, and it
9) Free Trade
 rewards its people with
affordable prices

3) Mixed Economy
- a combination of different types of
economic systems.
The 6 CORE CLAIMS of Market Globalism
1) Liberalization and Global Integration of
Market
2) Inevitable and Irreversible
3) Nobody is in charge of Globalization
4) Benefits Everyone
5) Requires War on Terror
6) Furthers the Spread of Democracy in the
World