Globalisation: A Concise Overview
Globalisation is a dynamic and multifaceted concept that encompasses the increasing interconnectedness and interdependence of countries worldwide. It extends beyond economics to include cultural, social, and political dimensions, shaping how societies evolve and interact on a global scale. Here are five key points about globalisation drawn from recent scholarly research:
- Economic Integration: At its core, globalisation involves the integration of national economies into the global marketplace. This includes the increased movement of goods, services, and capital across borders. The driving force behind this process is often multinational corporations and international trade agreements that reduce barriers and foster economic exchanges globally (Gavin Kitching, 2019).
- Cultural Exchanges: Beyond economics, globalisation facilitates a greater exchange of cultural values and practices. This has led to a more interconnected world where cultural boundaries are less defined, allowing for a more extensive spread of ideas and cultural attributes across continents (Shalmali Guttal, 2007).
- Political Impacts: Politically, globalisation has significant implications for sovereignty and governance. As countries become more integrated, the role of national governments evolves, often necessitating new forms of international cooperation and governance structures to manage the complexities of interconnected economies and societies (D. Bevan & A. Fosu, 2003).
- Technological Advancements: The rapid advancement of technology, especially in communications and transport, has been a critical enabler of globalisation. These developments have made it easier and cheaper to connect different parts of the world, accelerating other aspects of globalisation and making it a more pervasive phenomenon (Martens & Raza, 2010).
- Challenges and Critiques: Despite its benefits, globalisation is also a source of significant challenges and criticism. Issues such as economic inequality, environmental degradation, and cultural homogenization are often cited as adverse effects. These challenges prompt ongoing debates about the sustainability and ethical dimensions of globalisation, with calls for more equitable and sustainable approaches to global integration (Antonia Juhasz, 2002).
References
- Kitching, G. (2019). Globalisation. Capitalism and Democracy in the Twenty-First Century. Link.
- Guttal, S. (2007). Globalisation. Development in Practice, 17(5), 523-531. Link.
- Bevan, D., & Fosu, A. (2003). Globalisation: An Overview. Journal of African Economies, 12(Supplement 1), 1-13. Link.
- Martens, P., & Raza, M. (2010). Is Globalisation Sustainable. Sustainability, 2(1), 280-293. Link.
- Juhasz, A. (2002). The Failure of Globalisation. Cambridge Review of International Affairs, 15(3), 407-420. Link.