3.pptGLOBALIZATION TERMS
- Acculturation – the adoption by an ethnic group of enough of the ways of the host society to be able to function economically and socially
- Glocalization – the process by which global forces of change interact with local cultures
Engines of Glocalization
- Language- wide use of English
- Media/Technology
- Global Economy- Trans National Corporations; Global branding
- Growth of Democracy
- Tourism
Globalization
- -“Globalization is a set of processes that are increasing interactions, deepening relationships, and heightening interdependence without regard to country borders.” deBlij
- -Globalization is a ‘chaotic’ set of processes and outcomes created by people. It does not spread evenly across the world
The Washington Consensus
- The backbone of globalization is trade
- According to Keith Maskus: free trade raises the well-being of all countries by inducing them to specialize their resources toward those goods and services they produce most efficiently
