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Economic globalization (reflection)
Economics importance globalization
The effects of globalization on world economies
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Introduction:
When one refers to the term “globalization”, most instantly recognize the aspect of globalization with specific regards to the economy. In regards to solely the economic arena, the idea of globalization can be defined as “integration of economic activities, across borders, through markets”(Wolf, 2004). However, globalization is a broad concept that can have that of an elusive meaning, and isn’t, confined to one aspect by any means. Globalization deals with not only the economy, but in turn has a lasting effect on several different phenomena, including that of the “nation-state”. Another dynamic notion, the nation-state "is one where the great majority are conscious of a common identity and share the same culture" (Davis, 1997). The nation-state’s “capacities are changing in the modern world, especially after the end of the Cold War, and…turn towards more
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This change occurring is due to the rise of globalization, and the international growth of its’ effects. Simply stated, globalization changes the function of nation-states.
Positive Effects of Globalization on the Functionality of the Nation-State
International Governance: A Role of the Nation-State
With globalization shaping our perspective on the current day nation-state, the process of international governance comes heavily into play. It’s crucial for the nation-states to take on the role of something identical to an international police in order to keep the process in line. For instance, if the “international economy does not correspond to the model of a globalized economic system, then nation-states have a significant role to play in economic governance at the level of both national and international processes” (Hirst, 2009, pp 220). In short, if you will, individual nation-states each have a role in making sure that the economic system developed by globalisation is being conducted in a legal manner.
Although it already existed long before through primitive trade and migration, globalization has become a major factor in the world organization since the twentieth century. With the creation of transnational companies, intergovernmental and non-governmental organizations, political and economic associations appeared new powerful actors that cannot be left apart in states’ decisions and whose influence may, according to some, threaten the authority of nation-states. Indeed it can be thought that globalization is causing the end of borders between countries and what is more that it is creating a sort of universal society in which states’ sovereignty is not the main authority anymore. However this essay will try to demonstrate that globalization is not undermining state sovereignty but that it is in fact leading to its transformation and to a new variety of nations. In order to prove it I will first define the main key words and will then focus on the different arguments about the effects of globalization and finally I will demonstrate that globalization has led to a transformation of the concept of state sovereignty.
The essay, “The Noble Feat of Nike” by Johan Norberg basically talks about the effects of Nike going into third world countries, particularly Vietnam. Norberg explains how Nike’s factory gains from being in its desired location, Vietnam. Vietnam being a communist country comes to Nike’s advantage, because if they were located elsewhere they would have to pay workers higher wages and use more of their machines. Workers in these countries are provided with an air conditioned building with regular wages, free meal plans, free medical service, and training/education to operate the machinery within the factory. The workers find all of this beneficial and in their own favor because of the fact their earning double to five times the amount in wages than if they were working outdoors on a farm. This great deal, blinds them to notice the meaning behind the company’s location in Vietnam. The Nike factory was rather clever in making their location in that specific area to gain benefits for Western owners. The catch Nike gains from is simple. The owners pay factory workers only a small monthly sum from what they make selling the shoes to customers. Globalists state that the company doesn’t pull this fast one on the Western population because of our advancements compared to the Eastern countries. Western people would protest and strike to demand better wages for their work, but the people in Eastern countries have no choice but to deal with the injustice in order to support their families and educate their children.
(Bilton et al 1996:5) The process of globalization has certainly had many changing effects to the world we live in; it has also changed the way many factors operate. Globalization is said "to have transformed the structure and scale of human relationships that social, cultural, political, and economic processes now operate at a global scale with a consequent reduction in the significance of other geographical scales. "(The Dictionary of human geography 2004:315) Globalization has had both positive and negative effects on a local, national, international and global level. Globalization often brings benefits at one level which cause negative effects at another, these results and the scale at which they manifest are often uncertain and unpredictable.
This essay will describe the characteristics of the modern nation-state, explain how the United States fits the criteria of and functions as a modern nation-state, discuss the European Union as a transnational entity, analyze how nation-states and transnational entities engage on foreign policy to achieve their interests, and the consequences of this interaction for international politics.
Following the Great Recession, the world has been facing complex global transformations. Dani Rodrik’s “The Globalization Paradox: Democracy and the Future of the World Economy” portrays the challenges of the implications that our current model of globalization relies upon. Rodrik’s work reveals both the implications and connections of the relationships between markets, the states, and globalization in the currently changing world. Throughout the book, Rodrik argues the validity of five key points: markets require regulatory institutions, such institutions take on a variety of forms, societies should orient their market-supporting institutions to their own unique needs, markets that are responsive to democracy can avoid institutional convergence, and a world that is responsive to democracy will not reach full globalization. This book has made me question the long term sustainability of the already evolving economic globalization process. Rodrik explains that the process of globalization must be managed so that the entire world can benefit.
Globalization and the increasing role of non-state actors have shifted the position of states, the traditional “main players” in global governance. However, whether this change undermines states is debatable. In one sense, states’ roles have somewhat diminished: Non-governmental entities – namely transnational corporations (TNC), but also global non-governmental organizations (NGOs) and others – have an increasing voice in global policy debates, which may lessen states’ influence in governmental affairs. But in several other key ways, states’ retain their powerful role. For example, states remain the key negotiators and entities in major global governance entities. Additionally, states retain compulsory power over their subjects or constituents, a form of control that new players in global governments have generally not obtained.
Economic globalization can reduce disputes between states because it is an alternative to military violence and can result in market competition. An example of how this could be achieved is by having two (or more) states focusing their resources and energies toward the goal of becoming the economic hegemon of the market. If the states focused more on their economic sphere of influence and becoming more profitable, this in turn might draw attention away from any sort of milita...
The international system is an anarchical system which means that, unlike the states, there is no over ruling, governing body that enforces laws and regulations that all states must abide by. The International System in today’s society has become highly influential from a number of significant factors. Some of these factors that will be discussed are Power held by the state, major Wars that have been fought out in recent history and international organisations such as the U.N, NATO and the W.T.O. Each of these factors, have a great influence over the international system and as a result, the states abilities to “freely determine their political status and freely pursue their economic, social, and cultural development”.
The concept of globalization has opened up nations to new waves of political challenges and more needy responses from global stakeholders and individual governments
Another important factor promoted globalization is called the ‘World Politics’. Foreign policymakers are facing a challenge of a fundamental change in nowadays ...
Globalization is an overwhelming trend. It is no doubt that there are many positives rise out of globalization, but equally some serious negatives brought from this trend, such as gradual disappearance of ethnic identity (Buckley, 1998). This essay is going to address some positive effects of globalization generally, and then it will focus on impacts of this trend on developing countries.
Globalization has effect the role of the state immensely; as the process of present’s challenges to state sovereignty and autonomy. In spite of borders becoming more ill-defined and fluid in as a result of the process of globalization (Weiss 2000, 2-3). The state will remain relevant and necessary because citizens need a place to cast their votes, taxes have to be paid to particular authorities, which can be held accountable for pub...
Over the last couple of years, the world has become increasingly globalized. After the cold war, all parts of the world were attracted to the process of globalization. The effect of globalization is uneven in different parts of the world and globalization suggests a world full of persistent cultural interaction and exchange, contacts and connection, mixture and movement. Different people view globalization in different ways. Some people feel it has done more good than harm, while others believe it has done more harm than good. This essay will give a deep intuitive understanding of globalization, world systems, and how globalization has affected society, culture, economics, and politics.
The term ‘Globalization’ refers to the integration of economies, industries, markets, cultures and policy-making around the globe. It explains a progression by which both national and regional economies, societies, and cultures have become incorporated through the universal system of commerce, communication, migration and transportation. Globalization can be explained in economic and sociological contexts. Malcolm Waters, in his book– ‘Globalization’ writes that “Globalization is a social process in which the constraints of geography on economic, political, social and cultural arrangements recede, in which people become increasingly aware that they are receding and in which people act accordingly.” Whereas, Nobel laureate and economist Joseph Stiglitz in his book ‘Globalization and Its Discontents’ says that ”Globalization is the closer integration of the countries and peoples of the world.brought about by the enormous reduction of costs of transportation and communication, and the breaking down of people across the borders."
There is an undeniable fact that there has been a rise in globalization. It has become a hot topic amongst the field of international politics. With the rise of globalization, the sovereignty of the state is now being undermined. It has become an undisputed fact that the world has evolved to a new level of globalization, the transferring goods, information, ideas and services around the globe has changed at an unimaginable rate. With all that is going on, one would question how globalization has changed the system that is typically a collection of sovereign states. Do states still have the main source of power? What gives a state the right to rule a geographically defined region? It is believed by many that due to the introduction of international systems and increasing rate of globalization, the sovereignty of the state has been slowly eroded over time. My paper has two parts: First, it aims to take a close look at how globalization has changed the way the economy worked, specifically how it opened doors for multinational corporations to rise in power. Second, to answer the question, is it possible for it to exist today? And even so, should it?