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<p>Key Concepts </p> <p>Capitalism- An economic system based on private ownership of capital and the means of production (standing wealth and other forms of property). Cold War- The hostile relations between the two superpowers, the United States of America and the former Soviet Union. G-8- Group of Eight. Global- covering or affecting the whole world. Global Politics- the state will no longer be at the centre of attention- but neither will it be marginalized. Globalization- increasing integration of the world in terms of communications, culture, and economics. IMF- International Monetary Fund. IPE- International Political Economy. Sovereignty- A states right, at least in principle, to do whatever it wants within its own territory. WB- World Bank. WTO- World Trade Organization.</p> <p>Dimensions of Globalization</p> <p>i.</p> <p>ii.</p> <p>iii.</p> <p>Three main dimensions of globalization: Economic Dimensions of Globalization Socio-cultural Dimensions of Globalization Political Dimensions of Globalization</p> <p>Economic Dimensions of Globalization</p> <p>Economic globalization is one of the most frequently used in discussions of development, trade, and IPE. It is a process by which the economies of the world become increasingly integrated, leading to global economy and, increasingly, global economic policymaking, for example, through international agencies such as WTO, IMF, and WB.</p> <p>Socio-cultural Dimensions of Globalization</p> <p>Social globalization means processes whereby many social relations become relatively delinked from territorial geography, so that human lives are increasingly played out in the world as a single place. Cultural globalization refers to an emerging global culture, in which people more often consume similar goods and services across countries and use of common language. Examples: Coco-Cola, Mc Donald and use of English.</p> <p>Political Dimensions of Globalization</p> <p>In political studies globalization ideas have been significant in thinking about ideology and in political behaviour in terms of issue areas such as ecopolitics and human rights. In terms of the environment and human rights clear evidence of the need for global codes of conduct. In terms of ideology writers like Hungtington and Fukuyama have pointed to the globalization of liberalism following the end of the Cold War.</p> <p>History of Globalization </p> <p>It is hard to determine a specific moment when globalization started or to describe exact stages of its historical development. History shows no obvious time on which everyone will agree. Although considerable groundwork for globalization was laid in earlier times, the noun globalization entered a dictionary for the first time in 1961. Generally speaking, commentators have linked globalization: - to the rise of the information society, - the beginning of late capitalism, - the end of communism, and even the end of history.</p> <p>Theories of International RelationsRealismAnalytic UnitsSovereign States in an Anarchic International System</p> <p>Liberalism MarxismState, Sub-State Actors(firms, NGOs), International Organizations States, Classes, Societies, Nonstate actors as part of Capitalist World System Determined by the historical and economic circumstances</p> <p>View of Actors States as</p> <p>Unitary Actors</p> <p>Domestic actors and processes of decision making matterInterests are broadly defined(legitimacy,econo mic,security). Bargaining is central means.</p> <p>Behavioural Dynamics Issues</p> <p>Concern about the potential use of force. Maximize national security:diplomacy, deterrence,allying,war</p> <p>States and groups act within patterns of dominance</p> <p>National Security,Conflict, Peace</p> <p>Broad Agenda</p> <p>Economic issues (dependency)</p> <p>Realism and Globalization</p> <p>For realists, states hold sovereignty, and globalization does not cause obsolete the struggle for political power between states. Globalization does not weaken the importance of the threat of the use of force.</p> <p>Liberalism and Globalization</p> <p>Liberalism focuses on a much wider set of interactions between states and nonstate actors. For liberals, globalization is the end point of the transformation of world politics. Liberals are particularly interested in the revolution in technology and communications represented by globalization.</p> <p>Marxism and Globalization</p> <p>Marxists seen globalization as a negative process. For Marxists, globalization is not new process, and it is the latest stage in the development of international capitalism by West. Globalization further deepens the existing divide between the rich and poor countries.</p> <p>Anti-Globalization Movement</p> <p>The anti-globalization movement developed in the late 20th century to fight the globalization of corporate economic activity and the free trade with developing nations that might result from such activity.</p> <p>Anti-Globalization Movement</p> <p>Members of the anti-globalization movement generally advocate anarchist, nationalist, socialist, social democratic or environmentalist alternatives. Although supporters of the movement often work together, the movement itself is diverse. Demonstrations: the Seattle (WashingtonUSA) WTO meeting of 1999, Genoa (Italy)G8 summit in 2001.</p>

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