How is globalization measured?
Globalization
One index of globalization is the "KOF Index of Globalization", which measures three important dimensions of globalization: economic, social, and political. Another is the A.T. Kearney / Foreign Policy Magazine Globalization Index.
Measurements of economic globalization typically focus on variables such as trade, Foreign Direct Investment (FDI), Gross Domestic Product (GDP), portfolio investment, and income. However, newer indices attempt to measure globalization in more general terms, including variables related to political, social, cultural, and even environmental aspects of globalization.
The World Is Curved
Globalization has achieved unprecedented economic development. However, the global economy is unstable and sometimes badly agitated. Also, the era of massive wealth creation has led to the era of financial crises. Even though there was a problem, globalization was an effective means of producing wealth. Even though it has been a long time, we do not fully understand the meaning of globalization. People tend to regard the economy as static, but the global economy is very dynamic. Unlike earlier systems that large corporations and regulators have controlled to maintain their power, the new global economy is rapidly changing the way it operates through the Internet, boosting the business value of large-scale collaboration over the Internet.
We have no choice but to embrace the ever-changing global market and steer the market to avoid unintended consequences and side effects. The most important thing to stabilize the market is the 'trust'. There is no way to maintain stability since the size of the financial market has relatively grown.
Cultural globalization
There have been numerous attempts to measure globalization, typically using indices that capture quantitative data for trade flows, political integration, and other measures. The two most prominent are the AT Kearney/Foreign Policy Globalization index and the KOF Globalization Index. Cultural globalization, however, is much more difficult to capture using quantitative data, because it is difficult to find easily verifiable data of the flow of ideas, opinions, and fashions. One attempt to do so was the Cultural Globalization Index, proposed by Randolph Kluver and Wayne Fu in 2004, and initially published by Foreign Policy Magazine. This effort measured cultural flow by using global trade in media products (books, periodicals, and newspapers) as a proxy for cultural flow. Kluver and Fu followed up with an extended analysis, using this method to measure cultural globalization in Southeast Asia.
International economics
Globalisation can also have a significant influence upon the conduct of macroeconomic policy. The Mundell–Fleming model and its extensions are often used to analyse the role of capital mobility (and it was also used by Paul Krugman to give a simple account of the Asian financial crisis). Part of the increase in income inequality that has taken place within countries is attributable - in some cases - to globalisation. A recent IMF report demonstrates that the increase in inequality in the developing countries in the period 1981 to 2004 was due entirely to technological change, with globalisation making a partially offsetting negative contribution, and that in the developed countries globalisation and technological change were equally responsible.
Social inequality
The variables considered most important in explaining inequality and the manner in which those variables combine to produce the inequities and their social consequences in a given society can change across time and place. In addition to interest in comparing and contrasting social inequality at local and national levels, in the wake of today's globalizing processes, the most interesting question becomes: what does inequality look like on a worldwide scale and what does such global inequality bode for the future? In effect, globalization reduces the distances of time and space, producing a global interaction of cultures and societies and social roles that can increase global inequities.
History of globalization
Thomas L. Friedman divides the history of globalization into three periods: Globalization 1.0 (1492–1800), Globalization 2.0 (1800–2000) and Globalization 3.0 (2000–present). He states that Globalization 1.0 involved the globalization of countries, Globalization 2.0 involved the globalization of companies and Globalization 3.0 involves the globalization of individuals.
Globalization
"Early modern-" or "proto-globalization" covers a period of the history of globalization roughly spanning the years between 1600 and 1800. The concept of "proto-globalization" was first introduced by historians A. G. Hopkins and Christopher Bayly. The term describes the phase of increasing trade links and cultural exchange that characterized the period immediately preceding the advent of high "modern globalization" in the late 19th century. This phase of globalization was characterized by the rise of maritime European empires, in the 16th and 17th centuries, first the Portuguese and Spanish Empires, and later the Dutch and British Empires. In the 17th century, world trade developed further when chartered companies like the British East India Company (founded in 1600) and the Dutch East India Company (founded in 1602, often described as the first multinational corporation in which stock was offered) were established.
Globalization
Also posited is a "multi-polar" nature to archaic globalization, which involved the active participation of non-Europeans. Because it predated the Great Divergence in the nineteenth century, where Western Europe pulled ahead of the rest of the world in terms of industrial production and economic output, archaic globalization was a phenomenon that was driven not only by Europe but also by other economically developed Old World centers such as Gujarat, Bengal, coastal China, and Japan.
The German historical economist and sociologist Andre Gunder Frank argues that a form of globalization began with the rise of trade links between Sumer and the Indus Valley Civilization in the third millennium BCE. This archaic globalization existed during the Hellenistic Age, when commercialized urban centers enveloped the axis of Greek culture that reached from India to Spain, including Alexandria and the other Alexandrine cities. Early on, the geographic position of Greece and the necessity of importing wheat forced the Greeks to engage in maritime trade. Trade in ancient Greece was largely unrestricted: the state controlled only the supply of grain.
Structural inequality
Globalization has a complex association with development and inequality, and mandates a new framework to help describe its effects. On one level, global competition in production can lead to productivity improvements that lead to a situation where industrial employment falls behind industrial output in a local market. This can have an enormous impact on developing economies that focus on industrialization. At the same time, the liberalization of trade policies may be the only method of securing growth for land-locked developing nations.
Criticisms of globalization
Globalization requires a country to give up its sovereignty for the sake of executing Western ideals in its country. As a result, sovereignty only belongs to a select few: those whose views and ideals are being implemented. In the name of free markets and with the promise of an improved standard of living, countries give up their political and social powers to international organizations. Thus, globalization causes the greater empowerment of these international organizations and the diminishing influence of local state institutions.
Political globalization
William R. Thompson has defined it as "the expansion of a global political system, and its institutions, in which inter-regional transactions (including, but certainly not limited to trade) are managed". Valentine M. Moghadam defined it as "an increasing trend toward multilateralism (in which the United Nations plays a key role), toward an emerging 'transnational state apparatus,' and toward the emergence of national and international nongovernmental organizations that act as watchdogs over governments and have increased their activities and influence". Manfred B. Steger in turn wrote that it "refers to the intensification and expansion of political interrelations across the globe". The longer definition by Colin Crouch goes as follows: "Political globalization refers to the growing power of institutions of global governance such as the World Bank, the International Monetary Fund (IMF) and the World Trade Organization (WTO). But it also refers to the spread and influence of international non-governmental organizations, social movement organizations and transnational advocacy networks operating across borders and constituting a kind of global civil society." Finally, Gerard Delanty and Chris Rumford define it as "a tension between three processes which interact to produce the complex field of global politics: global geopolitics, global normative culture and polycentric networks."
Globalization
Economically, globalization involves goods and services, and the economic resources of capital, technology, and data. Also, the expansions of global markets liberalize the economic
activities of the exchange of goods and funds. Removal of Cross-Border Trades barriers has made formation of
Global Markets more feasible. The steam locomotive, steamship, jet engine, and container ships are some of the advances in the means of transport while the rise of the telegraph and its modern offspring, the Internet and mobile phones show development in telecommunications infrastructure. All of these improvements have been major factors in globalization and have generated further interdependence of economic and cultural activities around the globe.
Deglobalization
Periods of deglobalization have mainly been seen as interesting comparators to other periods, such as 1850–1914 and 1950–2007, in which globalization had been the norm, given that globalization is the norm for most people and because the interpretation of the global economy has mainly been framed as inevitably increasing integration. Therefore, even periods of stagnant international interaction are often wrongly seen as periods of deglobalization. Recently scientists, have started to also compare the major periods of deglobalization in order to better understand drivers and consequences of this phenomenon. The two major phases of deglobalisation are not identical twins.The two phases of deglobalisation were equally triggered by a demand shock in the wake of a financial crisis. Both in the 1930s and in the 2000s the composition of trade was a second key determinant: manufacturing trade bore the brunt of the contraction. One important finding is that country experiences both during the Great Depression and Great Recession are very heterogeneous so that one-size-fits-all policies to counter negative impacts of deglobalization are inappropriate. In the 1930s, democracies supported free trade, and deglobalisation was driven by autocratic decisions to strengthen self-sufficiency. In the 2010s, political institutions are just as significant, but now democratic decisions such as the election of President Trump with an America First agenda and Brexit drive the deglobalisation process worldwide. Indeed, while the industrialised countries in the 2010s avoided the pitfalls of protectionism and deflation, they have experienced different political dynamics.
Glocalization
Glocalization (a portmanteau of globalization and localization) is the "simultaneous occurrence of both universalizing and particularizing tendencies in contemporary social, political, and economic systems." The notion of glocalization "represents a challenge to simplistic conceptions of globalization processes as linear expansions of territorial scales. Glocalization indicates that the growing importance of continental and global levels is occurring together with the increasing salience of local and regional levels."
Economic globalization
While economic globalization has been expanding since the emergence of trans-national trade, it has grown at an increased rate due improvements in the efficiency of long distance transportation, advances in telecommunication, the importance of information rather than physical capital in the modern economy, and by developments in science and technology. The rate of globalization has also increased under the framework of the General Agreement on Tariffs and Trade and the World Trade Organization, in which countries gradually cut down trade barriers and opened up their current accounts and capital accounts. This recent boom has been largely supported by developed economies integrating with developing countries through foreign direct investment, lowering costs of doing business, the reduction of trade barriers, and in many cases cross-border migration.
Pankaj Ghemawat
Ghemawat has devoted much of his career to studying globalization and its effects on national economies. In 2011 he introduced the DHL Global Connectedness Index, which emphasizes analysis of hard data to measure the global connectedness of countries around the world.
International economics
The term globalization has acquired a variety of meanings, but in economic terms it refers to the move that is taking place in the direction of complete mobility of capital and labour and their products, so that the world's economies are on the way to becoming totally integrated. The driving forces of the process are reductions in politically imposed barriers and in the costs of transport and communication (although, even if those barriers and costs were eliminated, the process would be limited by inter-country differences in social capital).
Globalization
Though many scholars place the origins of globalization in modern times, others trace its history long before the European Age of Discovery and voyages to the New World, some even to the third millennium BC. Large-scale globalization began in the 1820s. In the late 19th century and early 20th century, the connectivity of the world's economies and cultures grew very quickly. The term "globalization" is recent, only establishing its current meaning in the 1970s.
Deglobalization
The term of deglobalization has derived from some of the very profound change in many developed nations, where trade as a proportion of total economic activity until the 1970s was below previous peak levels in the early 1910s. This decline reflects that their economies become less integrated with the rest of the world economies in spite of the deepening scope of economic globalization. At the global level only two longer periods of deglobalization occurred, namely in the 1930s during the Great Depression and 2010s, when following the Great Trade Collapse the period of the World Trade Slowdown set in.
Dimensions of globalization
Cultural globalization is the intensification and expansion of cultural flows across the globe. Culture is a very broad concept and has many facets, but in the discussion on globalization, Steger means it to refer to “the symbolic construction, articulation, and dissemination of meaning.” Topics under this heading include discussion about the development of a global culture, or lack thereof, the role of the media in shaping our identities and desires, and the globalization of languages.
Todd Joseph Miles Holden
Despite the core attention to media/tion, Holden's overriding concern has been the interaction between indigenous and exogenous values and practices – what is generally referred to as "globalization". This intellectual thread is directly traceable back to Agnew's "landmark" study of place, completed during Holden's final year at SU. For Holden, it is the mediation between people, media technologies and communication content in specific contexts that best accounts for political, cultural, and social phenomena, (and thereby reveals the contours and extent of globalization). This focus is most evident and best captured in the title of his 2006 book "medi@sia: Global media/tion in and out of context" (co-edited with Timothy J. Scrase). Even so, this geo-symbolic mediation can be discerned a decade earlier, in his comparative content analysis of 3,059 Japanese and American television ads, and his study of differential presentations of the body in national advertisements – a research topic that also bears some echoes of Glassner's body study, launched during the latter's time at SU.
Economic globalization
According to the International Monetary Fund, growth benefits of economic globalization are widely shared. While several globalizers have seen an increase in inequality, most notably China, this increase in inequality is a result of domestic liberalization, restrictions on internal migration, and agricultural policies, rather than a result of international trade.
History of globalization
Between the globalization in the 19 th and in the 20th there are significant differences. There are two main points on which the differences can be seen. One point is the global trade in this centuries as well as the capital, investment and the economy.The global trade in the 20th century shows a higher share of trade in merchant production, a growth of the trade in services and the rise of production and trade by multinational firms.
The production of merchant goods in the 20th century largely decreased from the levels seen in the 19th century. However, the amount of merchant goods that were produced for the merchandise trade grew. 
The trade in services also grew more important in the 20th compared to the 19th century. 
The last point that distinguishes the global trade in the 19th century compared to the global trade in the 20th century, is the extent of multinational cooperation. In the 20th century you can see a "quantum leap" in multinational cooperation compared to the 19th century. Before the 20th century began, there were just Portfolio investment, but no trade-related or production-relation Direct investment.
Globalization
Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, services, technology, and capital. Whereas the globalization of business is centered around the diminution of international trade regulations as well as tariffs, taxes, and other impediments that suppresses global trade, economic globalization is the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market. Depending on the paradigm, economic globalization can be viewed as either a positive or a negative phenomenon. Economic globalization comprises: Globalization of production; which refers to the obtention of goods and services from a particular source from different locations around the globe to benefit from difference in cost and quality. Likewise, it also comprises globalization of markets; which is defined as the union of different and separate markets into a massive global marketplace. Economic globalization also includes competition, technology, and corporations and industries.
Globalization
In this schema, three main prerequisites are posited for globalization to occur. The first is the idea of Eastern Origins, which shows how Western states have adapted and implemented learned principles from the East. Without the spread of traditional ideas from the East, Western globalization would not have emerged the way it did. The second is distance. The interactions of states were not on a global scale and most often were confined to Asia, North Africa, the Middle East, and certain parts of Europe. With early globalization, it was difficult for states to interact with others that were not within a close proximity. Eventually, technological advances allowed states to learn of others' existence and thus another phase of globalization can occur. The third has to do with inter-dependency, stability, and regularity. If a state is not dependent on another, then there is no way for either state to be mutually affected by the other. This is one of the driving forces behind global connections and trade; without either, globalization would not have emerged the way it did and states would still be dependent on their own production and resources to work. This is one of the arguments surrounding the idea of early globalization. It is argued that archaic globalization did not function in a similar manner to modern globalization because states were not as interdependent on others as they are today.
Max Lynn Stackhouse
On understanding globalization:
"...globalization is best understood as a worldwide set of social, political, cultural, technological and ethical dynamics, influenced and legitimated by certain theological, ethical and ideological motifs, that are creating a worldwide civil society that stands beyond the capacity of any nation-state to control. It is influencing every local context, all peoples, all social institutions and the ecology of the earth itself. It is forming an alternative postmodernism, one that has elements of the fragmentation and the relativization of all previous securities, but that also is demanding the rediscovery of universalistic principles of anthropology, spirituality, morality and law, refining distinctive purposes and forming new institutions that require common recognition."
National identity
As the world becomes increasingly globalized, international tourism, communication and business collaboration has increased. People around the world cross national borders more frequently to seek cultural exchange, education, business, and different lifestyles. Globalization promotes common values and experiences, and it also encourages the identification with the global community. People may adapt cosmopolitanism and view themselves as global beings, or world citizens. This trend may threaten national identity because globalization undermines the importance of being a citizen of a particular country. Several researchers examined globalization and its impact on national identity found that as a country becomes more globalized, patriotism declined, which suggests that the increase of globalization is associated with less loyalty and less willingness to fight for one's own country. However, even a nation like Turkey that occupies an important geographic trade crossroads and international marketplace with a tradition of liberal economic activity with an ingrained entrepreneurial and foreign trade has degrees of ethnocentrism as Turkish consumers may be basically rational buyers by not discriminating against imported products, but they exhibit preferences for local goods that are of equal quality to the imports because buying them assists the nation's economy and domestic employment.
Cultural globalization
Technology is an impact that created a bridge that diffused the globalization of culture. It brings together globalization, urbanization and migration and how it has affected today's trends. Before urban centers had developed, the idea of globalization after the second world war was that globalization took place due to the lifting of state restrictions by different nations. There were national boundaries for the flow of goods and services, concepts and ideas.
Globalization and Its Discontents
Globalization is beneficial under the condition that the economic management operated by national government and the example is East Asian countries. Those countries (especially South Korea and Taiwan) were based on exports through which they were able to close technological, capital and knowledge gaps. By managing national pace of change and speed of liberalization on their own, those countries were able to achieve economic growth. The countries who received the benefits from the globalization shared their profits equally.
Globalisation in India
Globalization is a process that encompasses the causes, courses, and consequences of transnational and transcultural integration of human and non-human activities. India had the distinction of being the world's largest economy in the beginning of the Christian era, as it accounted for about 32.9% share of world GDP and about 17% of the world population. The goods produced in India had long been exported to far off destinations across the world; the concept of globalisation is hardly new to India.
Criticisms of globalization
With the centralization of agriculture throughout the world, food must go exceptionally long distances to reach consumers. As a result, transportation of goods increases, an industry which is a major contributor to global greenhouse gas emissions.[""]
Multilingualism and globalization
Globalization has had major effects on the spread and ascribed value of multilingualism. Multilingualism is considered the use of more than one language by an individual or community of speakers. Globalization is commonly defined as the international movement toward economic, trade, technological, and communications integration and concerns itself with interdependence and interconnectedness. As a result of the interconnectedness brought on by globalization, languages are being transferred between communities, cultures, and economies at an increasingly fast pace. Therefore, though globalization is widely seen as an economic process, it has resulted in linguistic shifts on a global scale, including the recategorization of privileged languages, the commodification of multilingualism, the Englishization of the globalized workplace, and varied experiences of multilingualism along gendered lines.
Anti-globalization movement
Members of the anti-globalization movement argue that positive data from countries which largely ignored neoliberal prescriptions, notably China, discredits the evidence that pro-globalists present. For example, concerning the parameter of per capita income growth, development economist Ha-Joon Chang writes that considering the record of the last two decades the argument for continuing neo-liberal policy prescriptions are "simply untenable." Noting that "It depends on the data we use, but roughly speaking, per capita income in developing countries grew at 3% per year between 1960 and 1980, but has grown only at about 1.5% between 1980 and 2000. And even this 1.5% will be reduced to 1%, if we take out India and China, which have not pursued liberal trade and industrial policies recommended by the developed countries." Jagdish Bhagwati argues that reforms that opened up the economies of China and India contributed to their higher growth in 1980s and 1990s. From 1980 to 2000 their GDP grew at average rate of 10 and 6 percent respectively. This was accompanied by reduction of poverty from 28 percent in 1978 to 9 percent in 1998 in China, and from 51 percent in 1978 to 26 percent in 2000 in India. Likewise, Joseph E. Stiglitz, speaking not only on China but East Asia in general, comments "The countries that have managed globalization...such as those in East Asia, have, by and large, ensured that they reaped huge benefits..." According to The Heritage Foundation, development in China was anticipated by Milton Friedman, who predicted that even a small progress towards economic liberalization would produce dramatic and positive effects. China's economy had grown together with its economic freedom. Critics of corporate-led globalization have expressed concern about the methodology used in arriving at the World Bank's statistics and argue that more detailed variables measuring poverty should be studied. According to the Center for Economic and Policy Research (CEPR), the period from 1980–2005 has seen diminished progress in terms of economic growth, life expectancy, infant and child mortality, and to a lesser extent education.
Criticisms of globalization
In the process of implementing globalization in developing countries, the creation of winners and losers are often predetermined. Multinational corporations often benefit from globalization while poor, indigenous locals are negatively affected. The power of transnational companies inflicts a major threat for indigenous tribes. Transnational companies have exploited local family land for their businesses. Globalization can be seen as a new form of colonization or imperialism, as economic inequality and the rise in unemployment have followed with its implementation. Globalization has been criticized for benefiting those who are already large and in power at the risk and growing vulnerability of the countries’ indigenous population. Furthermore, globalization is non-democratic, as it is enforced through top-down methods.
Reflexive modernization
Beck, Ulrich (2000) What is Globalization? Wiley-Blackwell
Economy of Guatemala
Globalization is the process of economic integration, political policy exchange, transfer of knowledge and ideas, and exchange of culture. Guatemala is becoming more globalized and is growing with an annual GDP growth of 5% in 2006, 6% in 2007, 3% in 2008, 1% in 2009, 3% in 2010 and 3% in 2011. High poverty levels still persist.
Modernization theory
Annual trans-border tourist arrivals rose to 456 million by 1990 and almost tripled since, reaching a total of over 1.2 billion in 2016. Communication is another major area that has grown due to modernization. Communication industries have enabled capitalism to spread throughout the world. Telephony, television broadcasts, news services and online service providers have played a crucial part in globalization. Former U.S president Lyndon B. Johnson was a supporter of the modernization theory and believed that television had potential to provide educational tools in development.
Globalization
In the book "The End of Poverty", Jeffrey Sachs discusses how many factors can affect a country's ability to enter the world market, including government corruption; legal and social disparities based on gender, ethnicity, or caste; diseases such as AIDS and malaria; lack of infrastructure (including transportation, communications, health, and trade); unstable political landscapes; protectionism; and geographic barriers. Jagdish Bhagwati, a former adviser to the U.N. on globalization, holds that, although there are obvious problems with overly rapid development, globalization is a very positive force that lifts countries out of poverty by causing a virtuous economic cycle associated with faster economic growth. However, economic growth does not necessarily mean a reduction in poverty; in fact, the two can coexist. Economic growth is conventionally measured using indicators such as GDP and GNI that do not accurately reflect the growing disparities in wealth. Additionally, Oxfam International argues that poor people are often excluded from globalization-induced opportunities "by a lack of productive assets, weak infrastructure, poor education and ill-health;" effectively leaving these marginalized groups in a poverty trap. Economist Paul Krugman is another staunch supporter of globalization and free trade with a record of disagreeing with many critics of globalization. He argues that many of them lack a basic understanding of comparative advantage and its importance in today's world.
The flow of migrants to advanced economic countries has been claimed to provide a means through which global wages converge. An IMF study noted a potential for skills to be transferred back to developing countries as wages in those a countries rise. Lastly, the dissemination of knowledge has been an integral aspect of globalization. Technological innovations (or technological transfer) is conjectured to benefit most the developing and least developing countries (LDCs), as for example in the adoption of mobile phones.
Internationalization and localization
A globalization method includes, after planning, three implementation steps: internationalization, localization and quality assurance.
World economy
The world economy or global economy is the economy of the humans of the world, considered as the international exchange of goods and services that is expressed in monetary units of account. In some contexts, the two terms are distinguished: the "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of Earth.
Globalization (Christian Perspective)
Globalization allowed interaction between countries and the global market and has grown economies to higher levels. It is a highly debated subject and there is a great deal to be discussed about it. One perspective on this worldwide movement is the Christian (religious) point of view. First of all, Christians believe in a higher authority, and aim to model their lives in obedience to their God. That being said, they value community and ultimately care for all the people their God has created. That is on a global scale, not only local. They feel a responsibility to the poor, and encourage globalization as it provides more opportunities for countries with weak economies that struggle with poverty. Work is valuable and there is importance in working in a global economy.
Global city
In 2008, the American journal "Foreign Policy", in conjunction with the consulting firm A.T. Kearney and the Chicago Council on Global Affairs, published a ranking of global cities, based on consultation with Saskia Sassen, Witold Rybczynski, and others. "Foreign Policy" noted that "the world’s biggest, most interconnected cities help set global agendas, weather transnational dangers, and serve as the hubs of global integration. They are the engines of growth for their countries and the gateways to the resources of their regions." The ranking is based on 27 metrics across five dimensions: business activity, human capital, information exchange, cultural experience, and political engagement and was updated in 2010, 2012, 2014, 2015, 2016, and 2017. Since 2015 it has been published together with a separate index called the Global Cities Outlook: a projection of a city’s potential based on rate of change in 13 indicators across four dimensions: personal well-being, economics, innovation, and governance.
Hyper-globalization
Dani Rodrik defines hyper-globalization as a type of globalization aimed at the elimination of all transaction costs associated with the movement between the natural borders of nation states of goods, services, capital and finance. These costs are not limited to just tariffs and quotas, but also includes things such as domestic regulations, standards, rules on product safety, rules on intellectual property, and banking regulations. In other words, Rodrik sees hyper-globalization as a type of globalization that allows multinational companies to avoid the rules and regulations of nation states. The deep integration of hyper-globalization conflicts with and threatens the sovereignty of the nation state. Rodrik concludes that hyper-globalization is globalization that has gone too far. He rejects the solution of using intergovernmental organizations as a way to provide governance, because by definition that requires nation states to give up sovereignty and thus it is not compatible with democracy. He does not argue to stop or reduce globalization, but rather to change the rules of globalization away from hyper-globalization to activity that does not conflict with national sovereignty.
Globalism
Alternatively, American political scientist Joseph Nye, co-founder of the international relations theory of neoliberalism, generalized the term to argue that "globalism" refers to any description and explanation of a world which is characterized by networks of connections that span multi-continental distances; while globalization refers to the increase or decline in the degree of globalism. This use of the term originated in, and continues to be used, in academic debates about the economic, social, and cultural developments that is described as globalization. The term is used in a specific and narrow way to describe a position in the debate about the historical character of globalization (i.e. whether globalization is unprecedented or not).
History of globalization
Cultural globalization, driven by communication technology and the worldwide marketing of Western cultural industries, was understood at first as a process of homogenization, as the global domination of American culture at the expense of traditional diversity. However, a contrasting trend soon became evident in the emergence of movements protesting against globalization and giving new momentum to the defense of local uniqueness, individuality, and identity.
Archaic globalization
World War I is when the first phase of modern globalization began to take force. It is said by VM Yeates that the economic forces of globalization were part of the cause of the war. Since World War I, globalization has expanded greatly. The evolving improvements of multinational corporations, technology, science, and mass media have all been results of extensive worldwide exchanges. In addition, institutions such as the World Bank, the World Trade Organization and many international telecommunication companies have also shaped modern globalization. The World Wide Web has also played a large role in modern globalization. The Internet provides connectivity across national and international borders, aiding in the enlargement of a global network.
Globalization
There are both distal and proximate causes which can be traced in the historical factors affecting globalization. Large-scale globalization began in the 19th century.
Civilization
Many theorists argue that the entire world has already become integrated into a single "world system", a process known as globalization. Different civilizations and societies all over the globe are economically, politically, and even culturally interdependent in many ways. There is debate over when this integration began, and what sort of integration – cultural, technological, economic, political, or military-diplomatic – is the key indicator in determining the extent of a civilization. David Wilkinson has proposed that economic and military-diplomatic integration of the Mesopotamian and Egyptian civilizations resulted in the creation of what he calls the "Central Civilization" around 1500 BCE. Central Civilization later expanded to include the entire Middle East and Europe, and then expanded to a global scale with European colonization, integrating the Americas, Australia, China and Japan by the nineteenth century. According to Wilkinson, civilizations can be culturally heterogeneous, like the Central Civilization, or homogeneous, like the Japanese civilization. What Huntington calls the "clash of civilizations" might be characterized by Wilkinson as a clash of cultural spheres within a single global civilization. Others point to the Crusades as the first step in globalization. The more conventional viewpoint is that networks of societies have expanded and shrunk since ancient times, and that the current globalized economy and culture is a product of recent European colonialism.
Cultural globalization
An alternative perspective on cultural globalization emphasizes the transfiguration of worldwide diversity into a pandemic of Westernized consumer culture. Some critics argue that the dominance of American culture influencing the entire world will ultimately result in the end of cultural diversity. Such cultural globalization may lead to a human monoculture. This process, understood as cultural imperialism, is associated with the destruction of cultural identities, dominated by a homogenized and westernized, consumer culture. The global influence of American products, businesses and culture in other countries around the world has been referred to as Americanization. This influence is represented through that of American-based television programs which are rebroadcast throughout the world. Major American companies such as McDonald's and Coca-Cola have played a major role in the spread of American culture around the globe. Terms such as Coca-colonization have been coined to refer to the dominance of American products in foreign countries, which some critics of globalization view as a threat to the cultural identity of these nations.
Globalization
International standards have made trade in goods and services more efficient. An example of such standard is the intermodal container. Containerization dramatically reduced transport of its costs, supported the post-war boom in international trade, and was a major element in globalization. International Organization for Standardization is an international standard-setting body composed of representatives from various national standards organizations.
History of globalization
Even as early as the Prehistoric period, the roots of modern globalization could be found. Territorial expansion by our ancestors to all five continents was a critical component in establishing globalization. The development of agriculture furthered globalization by converting the vast majority of the world's population into a settled lifestyle. However, globalization failed to accelerate due to lack of long distance interaction and technology. The contemporary process of globalization likely occurred around the middle of the 19th century as increased capital and labor mobility coupled with decreased transport costs led to a smaller world.
First World
The United Nations's ESCWA has written that globalization "is a widely-used term that can be defined in a number of different ways". Joyce Osland from San Jose State University wrote: "Globalization has become an increasingly controversial topic, and the growing number of protests around the world has focused more attention on the basic assumptions of globalization and its effects." "Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in 1914."
The Commanding Heights
The authors take the thesis that prior to World War I the world effectively lived in a state of globalization, which they term the First Era of Globalization. The authors define globalization as periods when free markets predominate and countries place few if any limits on exports, immigration, imports, or exchanges of information. Overall, they see globalization as a positive movement that improves the standard of living for all the people connected to it—from the richest to poorest. According to the authors, the rise of communism and fascism, not to mention the Great Depression, nearly extinguished capitalism, which rapidly lost popularity. After World War II, the authors note that the work of economist John Maynard Keynes came to be widely accepted in Western economies. Keynes believed in government regulation of the economy and the authors underline this as Keynes' great influence and prestige. In the authors' opinion, these so-called commanding heights were often owned or severely regulated by governments in accordance with Keynes' ideas.
The authors then discuss how the political changes of the 1980s ushered in accompanying changes in economic policy. The old trend changed when Margaret Thatcher became Prime Minister of the United Kingdom and when Ronald Reagan was elected President of the United States. Both these leaders parted ways with Keynesian economics and they rather governed more in the tradition of the works of Friedrich Hayek, who opposed government regulation, tariffs and other infringements on a pure free market; and of Milton Friedman, who emphasized the futility of using inflationary monetary policies to influence rates of economic growth. In practice, Hayek's policies were applied only selectively as Reagan's 1986 income tax reforms substantially increased taxes on the lowest quintile of wage-earners while dramatically decreasing rates for the upper two quintiles. In contrast to Hayek's, Reagan's policies also continued and expanded tax write-offs, rebates and subsidies for many large corporations.. Friedman's monetarism was also abandoned in practice as government-issued debt as a percentage of GDP rose dramatically throughout the 1980s. While Thatcher, Reagan and their successors made sweeping reforms, the authors argue that the current era of globalization finally began around 1991 with the collapse of the Soviet Union. Since then, they assert countries embracing free markets have prospered on the whole while those adhering to central planning have failed.
Transnational citizenship
While some relate transnational citizenship to any historic shift or fusion of identities within nation-states, modern conceptions of the term have only surfaced in the past twenty years. Many attribute the evolution of the term to the rising situation of globalization. Globalization is defined by a heightened international access to the world capital market system and increased abilities to more rapid forms of communication. Due to the convenience and ease of modern international exchanges, globalization has become the process by which international economies as well as individuals interact with one another. Since post-Cold War 1989, the evolved "global political economy" has resulted in massive "reconfigurations of the world's arenas". Globalization transformed a confined geo-political system into one that relies heavily on multiple levels of local, national and global interactions. For example, China's industrialization from an agricultural society to a manufacturing society chronicled by excessive imports and exports contribute to a need to interconnect societies from all corners of the globe. The wealth that private institutions experienced from globalization resulted in "further extensions of corporations in search of faraway resources and markets".
List of globalization-related indices
This article lists various economic and human development measurements related to the study of globalization.
Globalization
An essential aspect of globalization is movement of people, and state-boundary limits on that movement have changed across history. The movement of tourists and business people opened up over the last century. As transportation technology improved, travel time and costs decreased dramatically between the 18th and early 20th century. For example, travel across the Atlantic ocean used to take up to 5 weeks in the 18th century, but around the time of the 20th century it took a mere 8 days. Today, modern aviation has made long-distance transportation quick and affordable.
How to Measure a Planet?
The Gathering
Trade globalization
Trade globalization is a type of economic globalization and a measure (economic indicator) of economic integration. On a national scale, it loosely represents the proportion of all production that crosses the boundaries of a country, as well as the number of jobs in that country dependent upon external trade. On a global scale, it represents the proportion of all world production that is used for imports and exports between countries.
Preyer and Brös provide a simple operationalization of trade globalization as "the proportion of all world production that crosses international boundaries". Chase-Dunn et al. note that trade globalization is one of the types of economic globalization, and define trade globalization as "the extent to which the long-distance and global exchange of commodities has increased (or decreased) relative to the exchange of commodities within national societies", and precisely operationalize it as "the sum of all international exports as a percentage of the global product, which is the sum of all the national gross domestic products (GDPs)." Erreygers and Vermeire define trade globalization as "the degree of dissimilarity between the actual distribution of bilateral trade flows and their gravity benchmark, determined only by size and distance." They note that trade globalization would be maximized in a situation where only size and distance affected the intensity of bilateral trade flows - in other words, in a situation where neither trade barriers nor other factors would matter.
Dimensions of globalization
Globalization operates on a cross-cutting "ideological dimension" filled with a range of norms, claims, beliefs, and narratives about the phenomenon itself. According to Steger, there are three main types of globalisms (ideologies that endow the concept of globalization with particular values and meanings): market globalism, justice globalism, and religious globalisms. Steger defines them as follows:These ideologies of globalization (or globalisms) then relate to broader imaginaries and ontologies.
Globality
Yergin’s chief distinction between globality and globalization is conceptual – he says that former is a “condition” while the latter is a “process.” He describes globality as the end-state of the process of globalization:
The borders that constrained commerce―but also protected companies from the full brunt of competition―are eroding. Governments are retreating from control of the commanding heights of their economies: they are privatizing and deregulating. Barriers to trade and investment are coming down rapidly. Ever-cheaper communications and ever-faster computers, along with the Internet, are facilitating the flow of goods and services, as well as knowledge and information. Increasingly, companies are integrating their global strategies with global capital markets.
Archaic globalization
There are three main prerequisites for globalization to occur. The first is the idea of Eastern Origins, which shows how Western states have adapted and implemented learned principles from the East. Without the traditional ideas from the East, Western globalization would not have emerged the way it did. The second is distance. The interactions amongst states were not on a global scale and most often were confined to Asia, North Africa, the Middle East and certain parts of Europe. With early globalization it was difficult for states to interact with others that were not within close proximity. Eventually, technological advances allowed states to learn of others existence and another phase of globalization was able to occur. The third has to do with interdependency, stability and regularity. If a state is not dependent on another then there is no way for them to be mutually affected by one another. This is one of the driving forces behind global connections and trade; without either globalization would not have emerged the way it did and states would still be dependent on their own production and resources to function. This is one of the arguments surrounding the idea of early globalization. It is argued that archaic globalization did not function in a similar manner to modern globalization because states were not as interdependent on others as they are today.
Globalization
Sociologists Martin Albrow and Elizabeth King define globalization as "all those processes by which the people of the world are incorporated into a single world society." In "The Consequences of Modernity", Anthony Giddens writes: "Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa." In 1992, Roland Robertson, professor of sociology at the University of Aberdeen and an early writer in the field, described globalization as "the compression of the world and the intensification of the consciousness of the world as a whole."
Globalization
Globalization is the extension of social relations across world-space, defining that world-space in terms of the historically variable ways that it has been practiced and socially understood through changing world-time.
Globalization and Its Discontents
Stiglitz explains that globalization could be either success or failure, depending on its management. There is a success when it is managed by national government by embracing their characteristics of each individual country; however, there is a failure when it is managed by international institutions such as IMF.
Archaic globalization
Globalization is the process of increasing interconnectedness between regions and individuals. Steps toward globalization include economic, political, technological, social, and cultural connections around the world. The term "archaic" can be described as early ideals and functions that were once historically apparent in society but may have disintegrated over time.
Globalization
Certain demographic changes in the developing world after active economic liberalization and international integration resulted in rising general welfare and, hence, reduced inequality. According to Wolf, in the developing world as a whole, life expectancy rose by four months each year after 1970 and infant mortality rate declined from 107 per thousand in 1970 to 58 in 2000 due to improvements in standards of living and health conditions. Also, adult literacy in developing countries rose from 53% in 1970 to 74% in 1998 and much lower illiteracy rate among the young guarantees that rates will continue to fall as time passes. Furthermore, the reduction in fertility rate in the developing world as a whole from 4.1 births per woman in 1980 to 2.8 in 2000 indicates improved education level of women on fertility, and control of fewer children with more parental attention and investment. Consequently, more prosperous and educated parents with fewer children have chosen to withdraw their children from the labor force to give them opportunities to be educated at school improving the issue of child labor. Thus, despite seemingly unequal distribution of income within these developing countries, their economic growth and development have brought about improved standards of living and welfare for the population as a whole.
Per capita gross domestic product (GDP) growth among post-1980 globalizing countries accelerated from 1.4 percent a year in the 1960s and 2.9 percent a year in the 1970s to 3.5 percent in the 1980s and 5.0 percent in the 1990s. This acceleration in growth seems even more remarkable given that the rich countries saw steady declines in growth from a high of 4.7 percent in the 1960s to 2.2 percent in the 1990s. Also, the non-globalizing developing countries seem to fare worse than the globalizers, with the former's annual growth rates falling from highs of 3.3 percent during the 1970s to only 1.4 percent during the 1990s. This rapid growth among the globalizers is not simply due to the strong performances of China and India in the 1980s and 1990s—18 out of the 24 globalizers experienced increases in growth, many of them quite substantial.
Theodore Levitt
Though widely credited with coining the term globalization in an article entitled "Globalization of Markets", which appeared in the May–June 1983 issue of Harvard Business Review, he was not the originator of the term. As a NYTimes article notes, the term 'globalization' was in use well before this publication (at least as early as 1944) and had been used by economists as early as 1981. Nonethless, Levitt can be credited with popularizing the term and bringing to a mainstream business audience.
Global citizenship
Global pollsters and psychologists have studied individual differences in the sense of global citizenship. Beginning in 2005, the World Values Survey, administered across almost 100 countries, included the statement, “I see myself as a world citizen.” For smaller studies, several multi-item scales have been developed, including Sam McFarland and colleagues’ Identification with All Humanity scale (e.g., “How much do you identify with (that is, feel a part of, feel love toward, have concern for) . . . all humans everywhere?”), Anna Malsch and Alan Omoto’s Psychological Sense of Global Community (e.g., “I feel a sense of connection to people all over the world, even if I don’t know them personally”), Gerhard Reese and colleagues’ Global Social Identity scale (e.g. “I feel strongly connected to the world community as a whole.”), and Stephen Reysen and Katzarska-Miller's global citizenship identification scale (e.g., “I strongly identify with global citizens.”). These measures are strongly related to one another, but they are not fully identical.
Globalization
James and Steger stated that the concept of globalization "emerged from the intersection of four interrelated sets of 'communities of practice' (Wenger, 1998): academics, journalists, publishers/editors, and librarians." They note the term was used "in education to describe the global life of the mind"; in international relations to describe the extension of the European Common Market; and in journalism to describe how the "American Negro and his problem are taking on a global significance". They have also argued that four different forms of globalization can be distinguished that complement and cut across the solely empirical dimensions. According to James, the oldest dominant form of globalization is embodied globalization, the movement of people. A second form is agency-extended globalization, the circulation of agents of different institutions, organizations, and polities, including imperial agents. Object-extended globalization, a third form, is the movement of commodities and other objects of exchange. He calls the transmission of ideas, images, knowledge, and information across world-space disembodied globalization, maintaining that it is currently the dominant form of globalization. James holds that this series of distinctions allows for an understanding of how, today, the most embodied forms of globalization such as the movement of refugees and migrants are increasingly restricted, while the most disembodied forms such as the circulation of financial instruments and codes are the most deregulated.
Westernization
With debates still going on, the question of whether globalization can be characterized as Westernization can be seen in various aspects. Globalization is happening in various aspects, ranging from economics, politics and even to food or culture. Westernization, to some schools, is seen as a form of globalization that leads the world to be similar with Western powers. Being globalized means taking positive aspects of the world, but globalization also brings about the debate about being Westernized. Democracy, fast foods, and American pop-culture can all be examples that are considered as Westernization of the world.
Economic interdependence
This approach is based on the precept that globalisation increases the integration and interdependence between the economy of different countries. The Hierarchical Network Approach is used to measure economic interdependence by analysing growth clusters and cross-country liaison, and business cycle synchronisations. The cross-country liaison or economic interaction between countries or states is most commonly measured by Pearson's cross-correlation coefficient. The correlation matrix is a methodical method which exhibits the mutual relationship of countries over a specified time period. To measure growth clusters, economists need to get hold and analyse changes in GDP for each country over a specified period of time. The relationship between interdependence and business cycles is calculated by the distance correlation matrices over a period of 10 years. The combination of results from the data presents the economic interdependence of countries over time. By this measure, trends from the data has shown that the degree of world economic interdependence is growing due to globalisation.
History of globalization
The 19th century witnessed the advent of globalization approaching its modern form. Industrialization allowed cheap production of household items using economies of scale, while rapid population growth created sustained demand for commodities. Globalization in this period was decisively shaped by nineteenth-century imperialism. After the First and Second Opium Wars, which opened up China to foreign trade, and the completion of the British conquest of India, the vast populations of these regions became ready consumers of European exports. It was in this period that areas of sub-Saharan Africa and the Pacific islands were incorporated into the world system. Meanwhile, the conquest of new parts of the globe, notably sub-Saharan Africa, by Europeans yielded valuable natural resources such as rubber, diamonds and coal and helped fuel trade and investment between the European imperial powers, their colonies, and the United States.
Global Leadership
Global Leadership is the interdisciplinary study of the key elements that future leaders in all realms of the personal experience should acquire to effectively familiarize themselves with the psychological, physiological, geographical, geopolitical, anthropological and sociological effects of globalization. Global leadership occurs when an individual or individuals navigate collaborative efforts of different stakeholders through environmental complexity towards a vision by leveraging a global mindset.
As a result of trends, starting with colonialism and perpetuated by the increase in mass media, innovation, (brought about by the Internet and other forms of human interaction based on the speed of computer-mediation) a host of meaningful new concerns face mankind; consisting of but not limited to: human enterprises toward peace, international business design, and significant shifts in geopolitical paradigms. The talent and insight it will take leaders to successfully navigate humanity through these developments have been collectively focused around the phenomenon of globalization in order to embrace and effectively guide the evolution of mankind through the continued blurring and integration of national, economic and social strategies .
Military globalization
Military globalization is defined by David Held as “the process which embodies the growing extensity and intensity of military relations among the political units of the world system. Understood as such, it reflects both the expanding network of worldwide military ties and relations, as well as the impact of key military technological innovations (from steamships to satellites), which over time, have reconstituted the world into a single geostrategic space." Military globalization implies firmer integration of armed forces around the world into the global military system. For Robert Keohane and Joseph Nye military globalization entails “long-distance networks of interdependence in which force, and the threat or promise of force, are employed.”
Globalism
While ideologies of the global have a long history, globalism emerged as a dominant set of associated ideologies across the course of the late twentieth century. As these ideologies settled, and as various processes of globalization intensified, they contributed to the consolidation of a connecting global imaginary. In their recent writings, Manfred Steger and Paul James have theorized this process in terms of four levels of change: changing ideas, ideologies, imaginaries and ontologies.
KOF Globalisation Index
The KOF Index of Globalisation is an index of the degree of globalisation of 122 countries. It was conceived by Axel Dreher at the Konjunkturforschungsstelle of ETH Zurich, in Switzerland. It was first published in 2002, and covered the period from 1970 until that year. A new version of it was published in 2017.
Deglobalization
The multi-dimensional globalization index of KOF Swiss Economic Institute shows a clear break for economic globalization in 2009 in 2015 KOF observed for its overall index: "The level of globalisation worldwide increased rapidly between 1990 and 2007 and has risen only slightly since the Great Recession. In 2015, globalisation decreased for the first time since 1975. The fall was due to the decline in economic globalisation, with social globalisation stagnating and political globalisation increasing slightly."
Other indicators of deglobalization include the development of Foreign Direct Investment, that according to UNCTAD slipped further in 2017 and in stark contrast with production.
Proto-globalization
Like capital, the end of proto-globalization was filled with mobility of individuals. The time of proto-globalization was one filled with “mutual influence, hybridization, and cross-cultural entanglement”. Many historians blame this web of national entanglements and agreements as the cause for the intensity and vast involvement during World War I. Between 1750-1880, the expansion of worldwide integration was influenced by the new capacities in production, transportation, and communication.
The end of proto-globalization also marked the final phase of "great domestication". After the 1650s, the process of regular and intensive agrarian exploitation was complete. Human population began to increase almost exponentially with the end of the great pandemics. At the end of the proto-globalization and the cusp of modern globalization, population began to "recover in Central and South America," where at the beginning of proto-globalization, European-imported illnesses had savagely decreased indigenous populations. The importation of nutritious varieties from Central and South America created a more fertile and resilient population to forge ahead into modern globalization. The greater population pushed individuals in high populated areas to "spill into less populous forested and grazing lands, and bring them under cultivation". This development lead to an influx in produce production and exported trade.
Another development that lead to the shift to modern globalization was the development of a more politicized system. Proto-globalization period marked a steady expansion of larger states from the Indonesian islands to northern Scandinava. The settlement of these individuals made it easier for governments to tax, develop an army, labor force, and create a sustainable economy. The development and streamlining of these cultural aspects lead to an increase in peripheral players in the game of globalization. The stable legal institutions developed in the late proto-globalization and early modern globalization period established economic advances, intellectual property rights (more predominantly in England), general geographical stability, and generational societal improvement.
The shift in exchange of technological advancements was another reason for modern globalization. In the early 19th century, European civilizations traveled the world to accumulate an "impressive knowledge about languages, religions, customs, and political orders of other countries. By the end of the 19th century, Europe was no longer receiving any significant technological innovations from Asia.
List of countries by Global Militarization Index
The Global Militarization Index (GMI) depicts the relative weight and importance of the military apparatus of one state in relation to its society as a whole. For this, the GMI uses a number of indicators to represent the degree of militarization of a country:
Dimensions of globalization
Political globalization is the intensification and expansion of political interrelations around the globe. Aspects of political globalization include the modern-nation state system and its changing place in today’s world, the role of global governance, and the direction of our global political systems.
Criticisms of globalization
Criticism of globalization is skepticism of the claimed benefits of globalization. Many of these views are held by the anti-globalization movement. Globalization has created much global and internal unrest in many countries. While the dynamics of capitalism is changing and each country is unique in its political makeup, globalization is a set-in-stone "program" that is difficult to implement without political unrest. Globalization can be partly responsible for the current global economic crisis. Case studies of Thailand and the Arab nations' view of globalization show that globalization is a threat to culture and religion, and it harms indigenous people groups while multinational corporations profit from it. Although globalization has promised an improved standard of living and economic development, it has been heavily criticized for its production of negative effects. Globalization is not simply an economic project, but it also heavily influences the country environmentally, politically, and socially as well.
International development
An interesting way of seeing development in Third World countries is through modernization. This includes electronification of households and increases in phone plans. This does not accurately convey social development although it is hard to precisely measure, and institutions differ greatly in their methods. This goes into the debate on whether economic growth causes social growth or vice versa. Indicators of social change can be used to complement economic factors as indicators of development and in formulating development policies.
Outline of globalization
Global studies – interdisciplinary and multidisciplinary academic study of globalizing forces and trends. Global studies may include the investigation of one or more aspects of globalization, but tend to concentrate on how globalizing trends are redefining the relationships between states, organizations, societies, communities, and individuals, creating new challenges that cannot be solved by nations or markets alone. Study of the factors contributing to globalization may originate in many academic concentrations, such as political science, economics, sociology, and many others.
Cultural globalization
Cultural globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two other being economic globalization and political globalization. However, unlike economic and political globalization, cultural globalization has not been the subject of extensive research.
Dimensions of globalization
Manfred Steger, professor of Global Studies at the University of Hawaii at Manoa argues that globalization has four main dimensions: economic, political, cultural, ecological, with ideological aspects of each category. David Held's book "Global Transformations" is organized around the same dimensions, though the ecological is not listed in the title. This set of categories relates to the four-domain approach of circles of social life, and Circles of Sustainability.
Economic globalization
While globalization has radically increased incomes and economic growth in developing countries and lowered consumer prices in developed countries, it also changes the power balance between developing and developed countries and affects the culture of each affected country. And the shifting location of goods production has caused many jobs to cross borders, causing some workers to change careers.
Globalization
Lechner and Boli (2012) define globalization as more people across large distances becoming connected in more and different ways.
Criticisms of globalization
John Gray described globalization as a post-Cold War American triumphalism, and stated “global laissez faire is an American project.” Globalization is a project in which American ideals and values are executed and implemented into other countries. However, this effort has been criticized, mainly by the examination of America today. In America, there are high levels of economic and social inequalities as the gap between the rich and poor are great. Furthermore, America has the highest rates of incarceration, and anxiety due to economic uncertainty is great. The criticism that follows is that the implementation of the American system into other countries may reproduce these negative effects.
The Lexus and the Olive Tree
Friedman explains "globalization" by recounting stories of his actual experiences in interfacing with many of the global movers and shakers. He proposes that "globalization is not simply a trend or fad but is, rather, an international system. It is the system that has replaced the old Cold War system, and, like that Cold War System, globalization has its own rules and logic that today directly or indirectly influence the politics, environment, geopolitics and economics of virtually every country in the world."
Language localisation
The former Localization Industry Standards Association (LISA) said that globalisation "can best be thought of as a cycle rather than a single process". To "globalise" is to plan the design and development methods for a product in advance, keeping in mind a multicultural audience, in order to avoid increased costs and quality problems, save time, and smooth the localising effort for each region or country. Localisation is an integral part of the overall process called globalisation.
Hyper-globalization
Hyper-globalization is a term used to describe the dramatic change in the size, scope and velocity of globalization that began in the late 1990s and that continues into the beginning of the 21st century. It covers all three main dimensions of economic globalization, cultural globalization, and political globalization. The term appeared in the 2011 work by Dani Rodrik an economist and professor of International Political Economy at the Kennedy School of Government at Harvard University, who used the term in his "The Globalization Paradox: Democracy and the Future of the World Economy". Rodrik used the term as a criticism of state of globalization, questioning the wisdom of unlimited economic integration beyond national borders. He sees a conflict between the workings of the nation state and free flow economic globalization that has gone too far “toward an impractical version that we might call hyperglobalization.”
Globalization
Democratic globalization is a movement towards an institutional system of global democracy that would give world citizens a say in political organizations. This would, in their view, bypass nation-states, corporate oligopolies, ideological Non-governmental organizations (NGO), political cults and mafias. One of its most prolific proponents is the British political thinker David Held. Advocates of democratic globalization argue that economic expansion and development should be the first phase of democratic globalization, which is to be followed by a phase of building global political institutions. Dr. Francesco Stipo, Director of the United States Association of the Club of Rome, advocates unifying nations under a world government, suggesting that it "should reflect the political and economic balances of world nations. A world confederation would not supersede the authority of the State governments but rather complement it, as both the States and the world authority would have power within their sphere of competence". Former Canadian Senator Douglas Roche, O.C., viewed globalization as inevitable and advocated creating institutions such as a directly elected United Nations Parliamentary Assembly to exercise oversight over unelected international bodies.
Criticisms of globalization
The implementation of globalization requires a certain degree of culture shedding, as global culture alters and disrupts the preexisting local culture. This also leads to identity confusion, primarily in adolescents.
Metropolis
The concept of a global city (or world city) is of a city that has a direct and tangible effect on global affairs through socioeconomic means. The term has become increasingly familiar, because of the rise of globalization (i.e., global finance, communications, and travel). An attempt to define and categorize world cities by financial criteria was made by the Globalization and World Cities Research Network (GaWC), based primarily at Loughborough University in England. The study ranked cities based on their provision of "advanced producer services" such as accountancy, advertising, finance and law. The inventory identifies three levels of world cities and several sub-ranks (see GaWC study).
Global studies
Global studies is the interdisciplinary study of political, economic, legal, ecological and cultural interconnectedness. Predominant subjects are politics, economics and law on an international level. Global studies is oriented around the study of globalization as it relates to intercontinental politics, the global economy, international law, market relations, the movement of people and resources, global communications, the effect of human activity on the environment, and many more topics. Global studies is often used to map global change and is both micro and macro in scope. The Cambridge English Dictionary defines global studies as ""the study of political, economic, and social situations in the world"".
History of globalization
These institutions include the International Bank for Reconstruction and Development (the World Bank), and the International Monetary Fund. Globalization has been facilitated by advances in technology which have reduced the costs of trade, and trade negotiation rounds, originally under the auspices of the General Agreement on Tariffs and Trade (GATT), which led to a series of agreements to remove restrictions on free trade.
Globalisation in India
Thomas Friedman, an American journalist, columnist, and author of "It's a Flat World After All" separates globalization into three stages; globalization 1.0, 2.0 and 3.0. According to Friedman, globalization 1.0, which dates to 1492, involved countries globalizing for natural resources. In globalization 2.0 (1800–2000), companies globalized for labour and markets. In 3.0, the current stage, companies are seeking to globalize down to small groups of people, or even individuals.
Economic globalization
While within-country income inequality has increased throughout the globalization period, globally inequality has lessened as developing countries have experienced much more rapid growth. Economic inequality varies between societies, historical periods, economic structures or economic systems, ongoing or past wars, between genders, and between differences in individuals' abilities to create wealth. Among the various numerical indices for measuring economic inequality, the Gini coefficient is most often-cited.
Globalization
There has been a rapid economic growth in Asia after embracing market orientation-based economic policies that encourage private property rights, free enterprise and competition. In particular, in East Asian developing countries, GDP per head rose at 5.9% a year from 1975 to 2001 (according to 2003 Human Development Report of UNDP). Like this, the British economic journalist Martin Wolf says that incomes of poor developing countries, with more than half the world's population, grew substantially faster than those of the world's richest countries that remained relatively stable in its growth, leading to reduced international inequality and the incidence of poverty.
History of globalization
Globalization, since World War II, is partly the result of planning by politicians to break down borders hampering trade. Their work led to the Bretton Woods conference, an agreement by the world's leading politicians to lay down the framework for international commerce and finance, and the founding of several international institutions intended to oversee the processes of globalization. Globalization was also driven by the global expansion of multinational corporations based in the United States and Europe, and worldwide exchange of new developments in science, technology and products, with most significant inventions of this time having their origins in the Western world according to Encyclopædia Britannica. Worldwide export of western culture went through the new mass media: film, radio and television and recorded music. Development and growth of international transport and telecommunication played a decisive role in modern globalization.
Criticisms of globalization
Globalization has been described as an "uneven process" in Africa due to the global integration of some groups happening alongside the marginalization or exclusion of others. Therefore, the worldwide trade will have the restrictions on the growth of economy.