GEOG101 Lecture Notes - Lecture 5: Water Cycle, Overgrazing, Dust Bowl
15 Jun 2015
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Last class: overcoming distance, transportation and communication, emergence of transnational actors, establishment of new institutions/rules. Expansion of economic activity( production and distribution) across national boundaries. Trend brought about primarily by the rise of transnational corporations. Encouraged through the development of international economic institutions to facilitate international trade flows e. g. world bank, imf, wto. Increasing cultural homogeneity due to economic integration. As a global culture emerges, national and local identities are believed to be in decline. Global culture is argued to have taken a western character, largely derived from the. The emergence of a single global culture is disputed. Spread of transnational corporations producing an integrated world economy. During and post-cold war, spread of international finance based on conditions of structural reform and democratic transition. Existing political and economic order is being challenged by new emerging institutions. The world is flat(friedman): free movement of capital > global economy now a level playing field.
