I.
Structures of Globalization
1. Global Economy is the exchange of goods and services integrated into a huge
single global market. It is virtually a world without borders, inhabited by marketing
individuals and/or companies who have joined the geographical world with the intent of
conducting research and development and making sales.
International trade permits countries to specialize in the resources they have. Countries
benefit by producing goods and services they can provide most cheaply and by buying
the goods and services other countries can provide most cheaply. International trade
makes it possible for more goods to be produced and for more human wants to be
satisfied than if every country tries by itself to produce everything it needs.
2. Market Integration
According to the Cambridge Business English Dictionary, Market Integration is a
situation in which separate markets for the same product become one single
market, for example when an import tax in one of the market is removed.
Integration is taken to denote a state of affairs or a process involving attempts to
combine separate national economies into larger economic regions (Robson,
1998, p.1).
According to the Cambridge Business English Dictionary, Market Integration is a
situation in which separate markets for the same product become one single market, for
example when an import tax in one of the markets is removed. Integration is taken to
denote a state of affairs or a process involving attempts to combine separate national
economies into larger economic regions (Robson, 1998, p.1)
3. Global Interstates System
Only the modern world-system has become a global (Earth-wide) system composed of
national societies and their states. It is a single global economy composed of
international trade and capital flows, transnational corporations that produce products
on several continents, as well as all the economic transactions that occur within
countries and at local levels. The whole world-system is more than just international
relations. It is the whole system of human interactions. The world economy is now all
the economic interactions of all the people on Earth, not just international trade and
investment. The modern world-system is structured politically as an interstate system –
a system of competing and allying states. Political Scientists commonly call this the
international system, and it is the main focus of the field of International Relations.
Some of these states are much more powerful than others, but the main organizational
feature of the world political system is that it is multicentric. There is, as yet, no world
state. Rather there is a system of states. This is a fundamentally important feature of
the modern system and of earlier regional world-systems as well.
When we compare different kinds of world-systems it is important to use concepts that
are applicable to all of them. “Polity” is a general term that means any organization with
a single authority that claims control over a territory or a group of people. Polities
include bands, tribes and chiefdoms as well as states and empires. All world-systems
are composed of multiple interacting polities. Thus, we can fruitfully compare the
modern interstate system with earlier interpolity systems in which there were tribes or
chiefdoms, but no states.
So, the modern world-system is now a global economy with a global political system
(the modern interstate system). It also includes all the cultural aspects and interaction
networks of the human population of the Earth. Culturally the modern system is
composed of: several civilizational traditions, (e.g. Islam, Christendom, Hinduism,
Confucianism, etc.), nationally-defined cultural entities -- nations (and these are
composed of class and functional subcultures, e.g. lawyers, technocrats, bureaucrats,
etc.), and the cultures of indigenous and minority ethnic groups within states. The
modern system is multicultural in the sense that important political and economic
interaction networks connect people who have rather different languages, religions and
other cultural aspects. Earlier world-systems have also been multicultural.
4. Contemporary Global Governance
Global governance as a subject field entails an interdisciplinary examination of power
and authority in the global arena and examines the variety of actors, institutions, ideas,
rules, and processes that contribute to the management of global society, exploring
their origins, their evolving roles, as well as their political, economic, social,
environmental, and ethical consequences. In addition to considering international
organizations and inter-state interactions, global governance gives critical focus to
various non-state actors, formal and informal networks, and broader transnational,
supranational, and sub-national realities of contemporary life that increasingly contribute
to the establishment and functioning of global rules, norms and institutions.
The study of global governance is a rapidly growing interdisciplinary field of research
where scholars and practitioners from various academic and professional backgrounds
come together to focus on governance issues relating to fundamental problems in
global affairs. In this field, policy-relevant research and teaching about problems of
global governance go beyond the rigidities and formalities of established disciplinary
boundaries to be effective. Global governance issues are sufficiently complex that an
interdisciplinary approach to their study is necessary. Our Global governance issues are
complex, which demands an interdisciplinary approach. This interdisciplinary program is
designed to meet these needs.