Globalization- the processes by which follows of trade, finance and information between

countries are boardened and deepened so thatv they may function as one global market.

Globalization is a process in which geographic economic and cultural boundaries are of

decreasing significance, first and foremost to the movement of capital. The world's money
markets are open 24 hours per day and it is now possible to move capital at the click of a mouse.

Globalization means that boundaries are of decreasing significance to the dynamics of

economics, politics and culture. Globalization started when trade began because people have
been moving across geographical distances and connecting with one another for many centries.
There are three aspects of globalization from the 1990s and beyond that make this stage of
globalisation fundamentally new

1. Revoluntionary technologies for example the cell phone internet, cheap air transport

2. New policies- Especially brought on by world trade orginizations rules and regulations-
liberalization or neo-liberalism became dominated globally after the 1980s

3. The influence of multi lateral and transnational cooperations

Let us look at the various ways in which globalization prevents itself eg culture

1. As a social movement- commericalization of cultures eg education, fashions, food is similar to

those in another countries

2. As an open economic space-free trade and liberalization

3. As a network of media and communication technology as one environment eg global

warming, hurricane becoming bigger and climate change

neo liberalism/neo(new) libral ideology- Economic policies in western countries promoting the
free market and removal of resrictions to trade and production. It advicates privatisation, the
unrestricted flow of capital and corporate control of the market. The IMF, the world bank and
the WTO are the multi lateral agencies advocating neo liberalism. This is being pushed
throughout nearly every country in the world.

Trade liberasation (free trade)- The removal of restrictions such as tariffs, taxes, customs duties
subsidies, quota systems and import licenses to allow all types of goods and services to be freely
imported and exported. This is what WTO is pushing.

Tariffs- taxes or customs duties put on goods coming into a country to raise revenue and or to
protect locally produced goods and services from cheaper imports. Caribbean countries did this
in the pass but cannot do it today because of world trade organisations rules

Brelton Woods Institutions

The IMF and The World Bank

Multi national Cooperations or Transnational cooperation- firms with their head quarters in
metropolitain countries which carry out there opperations elsewhere eg digicel, scotiabank

Deregulation revision, reduction or elimination of laws of regulation that hinder free competition
in supply of goods and services, thus allowing market forces to drive the economy

Globalisation refers to the tremendous interconnectedness of most parts of the globe that has
taken place over the last 30 years or so. This is partly a technological phenomenon brought on
by advances in communications and computer technologies however in addition to the
application of new technologies, globalisation has been facilitated by the concerted promotion
of the neo liberal ideologies by the brelton woods institutions and the western governments.
thus the world wide spread of policies of liberalisation and deregulation has allowed TNCs to
penetrate most of the worlds developing countries and markets.

2003

Identify 3 ways in which globalisation has impacted caribbean society.

1. globalisation bombards Caribbean states with first world (North America and Europe) ideology
and cultural practices. This is done through the media

2. It orientates regional patterns of consumption towards the metropole and reduces Caribbean
states to nations of importers

3. It introduces technology which can retard regional development

4. It reduces the Caribbean to the hinter land of production (it stops us from producing anything)
thereby prepetuating the historical dependency sydromne ( on the plantations everything was
imported)

5. It opens up the Caribbean region to metropoliatian penetration

Postive Impacts

It provides avenues of employment and economic opportunities for caribbean nationals.

It promotes the exposure of Caribbean cultural practice on a world stage

it provides markets for Caribbean goods or goods produced in the Caribbean

Because of globalization we in the Caribbean have more choices in relation to goods and services
that we can get

research- solange you have to research life and debt on youtube