What are/were GATT, the WTO, the IMF and the World Bank? What are hyperconsumption and hyperdebt? (Ryan, 2007). What is outsourcing? integration of market frontiers, and is an -micro-level- parents outsourcing childcare Epoch. -WTO agreement on trades measures governments can impose on foreign firms Globalization is the transplanetary process or set of processes involving increasing liquidity and growing multidirectional flows of people, objects, places and information as well as the structures they encounter and create that are barriers to, or expedite, those flows (soccer) That is, all of them tended to be hard or to harden (metaphorically, gu-ratively, not literally, of course) over time and therefore, among other . European colonial conquests ( late 15 th centuries)3. THIS COUNTRY IS THE Welcome. Donec aliquet. The Contemporary World Flashcards | Quizlet Today's globalization is not unique if this is the case. Broader, more recent Changes: this perspective views that the origin of globalization has taken place during the recent changes that happened in the 2nd half of the 20th century. increasing competition for commodities If this is the case, then several points can be treated as the start of globalization. One mainstream analysis divides modern globalization into three great waves. -created in 1944 at Bretton Woods -loans with conditions and demand for structural adjustments -evident strains between developed and developing nations 1. eradication of extreme poverty and hunger consumption sites increasingly homogenized and familiar (MyDollar in India, Big Boy in Bangkok, global theme parks). It is the subject or topic of many posts on a social media website within a short period of time. Biting an unpopped kernel of popcorn hurts! Solved by verified expert. opposition to global spread of chain stores, theme parks etc., as these are seen as resulting in sameness and loss of character in neighborhoods as well as threatening local business