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Political Science Assignment
Political Science Assignment
Political Science Assignment
RUMI SINGH
B.A. PROGRAMME
19/BAP/193
SEMESTER VI
INTRODUCTION
WHAT IS GLOBALIZATION?
Globalization is the word used to describe the growing interdependence of the world’s economies,
cultures, and populations, brought about by cross-border trade in goods and services, technology,
and flows of investment, people, and information. Countries have built economic partnerships to
facilitate these movements over many centuries. But the term gained popularity after the Cold War
in the early 1990s, as these cooperative arrangements shaped modern everyday life. This guide
uses the term more narrowly to refer to international trade and some of the investment flows
among advanced economies, mostly focusing on the United States.
The wide-ranging effects of globalization are complex and politically charged. As with major
technological advances, globalization benefits society as a whole, while harming certain groups.
Understanding the relative costs and benefits can pave the way for alleviating problems while
sustaining the wider payoffs.
According to Anthony Giddens, Director of the London School of economics - “Globalization can
thus be defined as the intensification of worldwide social relations which link distant localities in
such way that local happenings are shaped by events occurring many miles away and vice versa.”
David Held, Professor of Political Science at the London School of Economics defines
globalization as a process (or set of process) which embodies a transformation in the spatial
organization of social relations and transactions – assessed terms of their extensity, intensity,
velocity, and impact –generating transcontinental or interregional flows and networks of activity,
interaction, and the exercise of power.
Manfred B Steger, professor at Illinois University and the university of Hawai ‘i-Manoa defines
“Globalization refers to a multidimensional set of social process that create, multiply, stretch, and
intensify worldwide social interdependencies and exchanges while at the same time fostering in
people a growing awareness of deepening connections between the local and the distant.”
When did globalization begin? Many scholars say it started with Columbus’s voyage to the New
World in 1492. People traveled to nearby and faraway places well before Columbus’s voyage,
however, exchanging their ideas, products, and customs along the way. The Silk Road, an ancient
network of trade routes across China, Central Asia, and the Mediterranean used between 50 B.C.E.
and 250 C.E. is perhaps the most well-known early example. As with future globalizing booms,
innovative technologies played a key role in the Silk Road trade. Advances in metallurgy led to
the creation of coins; advances in transportation led to the building of roads connecting the major
empires of the day; and increased agricultural production meant more food could be trafficked
between locales. Along with Chinese silk, Roman glass, and Arabian spices, ideas such as
Buddhist beliefs and the secrets of paper-making also spread via these tendrils of trade.
CAUSES OF GLOBALIZATION
What accounts for globalization? If globalization is about the flows of ideas, capital, commodities,
and people, it is logical to ask if there anything novel about this phenomon.Globalization in terms
of these four flows has taken place through much of human history.
However, those who argue that there is something distinct bout contemporary globalization point
out that it is the scale and speed of these flows that account for the uniqueness of globalization in
the contemporary era. Globalization has a strong historical basis, and it is important to view
contemporary flows against this backdrop. While globalization is not caused by any single factor,
technology remains a critical element. There is no doubt that the invention of the telegraph, the
telephone, and the microchip in more recent times has revolutionized communication between
distinct parts of the world.
The ability of ideas, capital, commodities, and people to move more easily from one part of the
world to another has been made possible largely by technological advances. The pace of these
flows may vary.
For instance, the movement of capital and commodities will most likely be quicker and wider than
the movement of people across different of the world. Globalization, however, does not emerge
merely because of the availability of improved communications. What is important is for people
in different parts of the world to recognize these interconnections with the rest of the world.
Currently we are aware of the fact that events taking place in one part of the world could have an
impact on another part of the world. The bird flu or covid is not confined to any particular nation.
It does not respect national boundaries. Similarly, when major economic events take place, their
impact is felt outside their immediate local, national, or regional environment at the global event.
Globalization has profound effect on all our cultures and on the ways, we live our lives. It has
affected what we eat and the way we prepare our food, what we wear and the materials from which
our clothing is made, it has affected the music we hear, the books we read, even the language we
used to communicate with others. Globalization has made certain languages extinct or dying, for
example, Latin. At the same time more people today are bilingual or multi-lingual than ever before.
English, though in variant forms (e.g., British English, American English, Indian English) has
become the lingua franca and the number of English speakers throughout the world is growing
rapidly. The central problem of today's global interactions is the tension between cultural
homogenization and cultural heterogenization. While scholars like Mc Luhan talk about global
integration and global village, which may result from the process of globalization, and resulting
cultural integration across border, there have been apprehensions about cultural marginalization or
cultural exclusion as well. Global flows of good, ideas and people and capital can seen as a threat
to the national culture in many ways.
Globalization by removing geographical, political, and cultural borders, and by pass dame of time
and place has changed attitudes, behavior and action of individuals, nations, states, and even socio-
political structure of societies. In politics scope, globalization has created several evolutions which
some of them are as follows;
Economic globalization involves a wide variety of processes, opportunities, and problems related
to the spread of economic activities among countries around the world. There have been many
periods in which it occurred, most recently including the latter nineteenth century to WWI, the
quarter century after WWII, and the late 1960s/early 1970s to the present.
The latest period has involved several major trends, as capitalism has spread throughout more of
the world. First, there has been an increased reliance on markets (versus government involvement
in the economy) by most nations (including industrialized countries, developing countries, and
formerly socialist countries like China with over one-fifth of the world's population). Second,
many developing countries have shifted to the more open export-oriented approach based on
production for external trade from an import substitution development strategy (production of
essential goods for the internal market). Third, multinational corporations (MNCs) in
manufacturing, service, and finance sectors have moved into new tiers of countries and have
established burgeoning networks of subcontractors in many areas. Fourth, since the late 1970s,
economic globalization has also involved structural adjustment policies (SAPs), mandated by the
International Monetary Fund (IMF) as a condition for granting countries loans. SAPs require
governments to take many steps that further promote globalization. They also require austerity
measures that fall heavily on the poor, particularly women. Fifth, there have been shifts in the
power of key institutions internationally. On the one hand, the influence of many national
governments has been eroded by the rising importance of institutions like the MNCs, the IMF, and
World Bank (WB), and trade organizations such as the World Trade Organization (WTO). On the
other hand, there has been an increase in nongovernmental organizations (NGOs) advocating for
the rights of groups of citizens.
The three international economic institution most frequently mentioned in the context of economic
globalization are the IMF, the World Bank, and the WTO. These three institutions enjoy the
privileged position of making and enforcing the rules of a global economy that is sustained by
significant power differentials between the global North and South. Not all countries benefited
from economic globalization. Stern (2001), reviews that although globalization has helped lessen
poverty in a large variety of developing international locations, some 2 billion humans are staying
in the nations which might be left in the back of. It is because there has been weak governance and
politics in non-integrating countries, price lists, and different limitations that poor nations and poor
people face in assessing rich us of a market, and declining development assistant. Today, the huge
multi-country-wide organizations wield large electricity. Of the hundred biggest economies these
days, 51 are companies and the handiest 49 are states.
CONCLUSION
To sum up, “globalization can be seen as a positive, negative, or even marginal process. And
regardless of whether it works for good or ill, globalizations exact meaning will continue to be the
subject of debate among those who oppose, support or simply observe it. Globalization is a perfect
tool to fight poverty, to bring the world closer together. And to create a new global society.
However, it needs to be monitored and controlled, therefore international organizations such as the
UN country treaties. Such as NATO and the Commonwealth of Nations have been created.
Bauman argues that globalization negatively affects human conditions. However, as works are
very theoretical, schematic and pessimistic. And do not present a tangible solution to the problem
stated. Globalization can be very beneficial to developing countries as well as developed ones.
Smaller players such as Bangladesh, Sri Lanka, Indonesia, Kenya and Dominican Republic. Would
have never been able to develop without global sourcing. Developed countries benefits from it by
acquiring skills and minds. Thanks to the free movement of people and capitals, and become more
specialized. Some countries have enormously benefited from it. Without foreign investments,
advances in technology, processes and infrastructures brought in by the western economies and
demand for cheap labor. China would not be the largest economy in the world. Overall
globalization is part of everyone's everyday life. It has become part of something bigger. When it
is infused in every single individual, the global Society of the modern ages cannot be torn apart,
nor by the black bloc, nor by terrorists. Populations around the world would have never been closer
together, and live for a common goal: building a better future for everyone.