REPORT FOR CD MARCH 2010 PRESENTED BY: JOAN S. SANTOS Globalization

Globalization Defined an ongoing process by which regional economies, societies, and cultures have become integrated through a globe- spanning network of communication and trade. sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. However, it is usually recognized as being driven by a combination of economic, technological, socio- cultural, political, and biological factors. also refer to the transnational circulation of ideas, languages, or popular culture through acculturation Source: Wikipedia

Charles Taze Russell – Corporate giants in 1897 Saskia Sassen – micro-processes begin to denationalize Tom G. Palmer – diminution or elimination of state- enforce restrictions Thomas L. Friedman – flattening of the world Noam Chomsky – neoliberal form of economic gobalization Herman E. Daly – internationalization: importance of trade, relations, and treaties Takis Fotopoulos - multi-faceted and irreversible phenomenon within the system of a market economy Other Definitions

Understanding Globalization Extraordinary technological innovation and Global Corporate Reach Industrial Revolution = Industrial Society Information and Technology Revolution equals Informational Society or Network Society Networking as the new form of organization of human activity in business, politics, media and NGOs.

The Rise of Global Capitalism Neoliberal philosophy that shapes the economic policies with emphasis on removing the barriers for free trade Regionalization of development brought about by the geopolitical-economics – NAFTA, EU, and APEC Trade and capital (market forces) dictates the development process putting emphasis on the economic development regardless of its limitation and effects to the majority of the population.

Globalization and Development The present form of the economic globalization process has failed to deliver the promise of a new world order that would benefit all nations, producing worldwide economic expansion whose wealth would trickle down to all A world economy for the benefit of all: Economic system should be assessed in relation to its contribution to the betterment of human condition or social progress.

Corrective Policies Democratizing and enriching the process of globalization Develop an understanding of the globalization process Reduce the speed and urgency of the globalization process Tame competition Control and orient financial transactions Develop fair rules of the game on the international scene

Promotion of values and institutions for a humane world economy A need to debate values Maximize the role of the public intellectuals Nurture socializing and mediating institutions Make self-interest contribute to the common good Develop a culture of solidarity Socially responsible private sector Rehabilitate the state, the public service and the political process Corrective Policies International organizations to build a global village

Local Governance and Globalization Participation and awareness of the people in the formation of a global society is critical therefore forging an advancement of empowering the people and communities to become global citizens in an equal and favorable field for development. Comprehensive and important role of local governance: Welfare, justice and order Autonomy to develop their locality with wider participation of the communities and people to even their chances in the development brought about by globalization.

Globalization: meaningful and purposeful evolution One world One human race One government One currency One language