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development paradigm

development paradigm

idea of prescribed path to attain development through certain set of activities, according to a defined vision

globalization

mainly conceptualized as intensified transference or exchange of things across existing boundaries

globalization

primarily an economic process, the drive toward integration of economies throughout the world. Achieved through trading and financial flows across countries’ borders

trading, capital flows, movement of people

3 important aspects of globalization

trading

economic exchanges and deals between countries;

concerns importation and exportation

capital movement

There was an increase in the capital flows to poor countries during the 1990s

Foreign investment

one manifestation of capital movement _____ ;

can be categorized as commercial loans, official flows, or foreign direct investment.

commercial loans

are money lent to foreign businesses or governments.

official flows

refer to development aid or money granted by rich countries to developing nations.

foreign direct investment

refers to buying or putting up a firm in a foreign country or contributing to the enhancement of an existing firm (Levin Institute, n.d.).

movement of people

People can migrate to other countries in search of better employment opportunities.

2.3 million

The number of Overseas Filipino Workers during the period April to September 2018

cultural globalization

increasing "contact between people and their cultures-their ideas, their values, their ways of life" (Kumaravadivelu, 2008, p.33).

political globalization

is the enlargement of the international political system and its establishments, where inter-regional dealings, including trade, are managed (Modelski, Devezas and Thomson, 2007:59)

transnational corporations

international businesses called _________ are important players in globalization

world bank, international monetary fund, world trade organization

3 International Financial And Trade Institutions

Deregulating Businesses

is to reduce the control of government over businesses, making them more powerful in implementing their visions, goals, and operations.

increase income, more employment, less poverty

3 Contrasting Evidence of Positive Effects