The global economy fr

7. INTRODUCTION
For anthropologist Arjun Appadurai, different kinds of globalization occur in
multiple and intersecting dimensions of integration that he calls “scapes”.
Ethnoscape-global movement of people
Mediascape-flow of culture
Technoscape-circulation of mechanical goods and software
Financescape-global circulation of money
Ideoscape-the realm where political ideas move

8. TAKE NOTE:
Globalization is multidimensional
There are different kinds or processes of globalization
depending on what is being globalized
So while it is important to ask ‘what is globalization?’,
it is likewise important to ask ‘what is being globalized?’

9. OBJECTIVES
At the end of the lesson, the student will be able to:
Define economic globalization
Identify the actors that facilitate economic globalization
Define the modern world system
Articulate a stance on global economic integration

11. WHAT IS AN ECONOMY?
An economy is the large set of inter-
related production, consumption, and
exchange activities that aid in
determining how scarce resources are
allocated. The production, consumption,
and distribution of goods and services
are used to fulfill the needs of those
living and operating within the economy,
which is also referred to as an economic
system.
Https://www.Investopedia.Com/terms/e/economy.Asp

12. ECONOMIC GLOBALIZATION
Increasing interdependence of world
economies as a result of the growing scale of
cross-border trade of commodities and services,
flow of international capital and wide and rapid
spread of technologies (UN).

13. ECONOMIC GLOBALIZATION
“Economic globalization” is a historical process
representing the result of human innovation and
technological progress (IMF).
It is characterized by the increasing integration of
economies around the world through the movement of
goods, services, and capital across borders.

14. INTERNATIONAL TRADING SYSTEMS
THE SILK ROAD (130 BCE-1453 CE)
GALLEON TRADE (1571) –MANILA
TO ACAPULCO

15. MERCANTILISM
•Economic theory and practice in Europe in the 16th to
18th century by which governments used their
economies to augment state power at the expense of
other countries
•Government sought to ensure that exports exceeded
imports

16. DISCOVERY OF AMERICA
BY COLUMBUS (1492)
Discovery of the Philippines
by Magellan (1521)
WWI (1914-1918)
The Gold Standard (1867)
Fiat Currency (2000s)
The Great Depression
(1920-1930)
Age of Mercantilism (16th-
18th century)

17. GLOBAL TRADE EMERGES WHEN…
1.ALL HEAVILY POPULATED CONTINENTS BEGAN TO
EXCHANGE PRODUCTS CONTINUOUSLY- BOTH WITH
EACH OTHER DIRECTLY AND INDIRECTLY VIA OTHER
CONTINENTS, AND
2.DID SO IN VALUES SUFFICIENT TO GENERATE
LASTING IMPACTS ON ALL TRADING PARTNERS
(FLYNN AND GIRALDEZ)

18. THE GOLD STANDARD
In 1867, a more open trade system emerged
UK, US and other european nations adopted
the gold standard

21. In economic globalization, companies seek the
greatest possibility of efficient and maximized
profits that will involve many regions and localities
to “global production”.

22. GLOBAL ACTORS
MULTINATIONAL CORP0RATION:
• Business organization whose activities
are located in more than two countries
and is the organizational form that
defines foreign direct investment. This
form consists of a country location
where the firm is incorporated and of
the establishment of branches or
subsidiaries in foreign countries.
THE INTERNATIONAL MONETARY FUND
•Founded at the Bretton Wood
Conference (1944)
•The official organization for
securing international monetary
cooperation.

23. GLOBAL ACTORS
NORTH ATLANTIC TREATY ORGANIZATION
(NATO)
• Also called the North Atlantic Alliance between
30 European and North American countries.
• The organization implements the North Atlantic
Treaty that was signed on April 4, 1949. The
treaty provides that an armed attack against one
or more of NATO’s member nations shall be
considered an attack against them all.
• Headquarter is in Brusells, Belgium
WORLD TRADE ORGANIZATION
• Founded at the Bretton Wood
Conference (1944)
• The official organization for securing
international monetary cooperation.

24. THREE BASIC INSTITUTIONS THAT UNDERWRITE THE BASIC
RULES AND REGULATIONS OF ECONOMIC, MONETARY, AND
TRADE RELATIONS BETWEEN COUNTRIES.
WTO
IMF
WB