GL OBALIZATION INTRODUCTION:
Globalization" is a term that came into popular usage in the 1980's to describe the increased movement of people, knowledge and ideas, and goods and money across national borders that has led to increased interconnectedness among the world's populations, economically, politically, socially and culturally. Although globalization is often thought of in economic terms (i.e., "the global marketplace"), this process has many social and political implications as well. Many in local communities associate globalization with modernization (i.e., the transformation of "traditional" societies into "Western" industrialized ones). At the global level, globalization is ...view middle of the document...
Among the major industrial economies, sometimes referred to as the Organization of Economic Cooperation and Development (OECD) countries, 65 percent of the total economic production, or GDP, is associated with international trade. Economists project that, in the U.S., more than 50 percent of the new jobs created in this decade will be directly linked to the global economy.
The recent focus on the international integration of economies is based on the desirability of a free global market with as few trade barriers as possible, allowing for true competition across borders.
International economic institutions:
the World Trade Organization (WTO) and the International Monetary Fund (IMF), facilitate this increasingly barrier-free flow of goods, services, and money (capital) internationally. Regionally, too, organizations like the North America Free Trade Association (NAFTA), the European Union (EU), and the Association of South East Asian Nations (ASEAN) work towards economic integration within their respective geographical regions.
Countries benefited and downturned by globalization according to critics:
many of the economies of the industrial North (i.e., North America, Europe, East Asia) have benefited from globalization, while in the past two decades many semi- and non-industrial countries of the geo-political South (i.e., Africa, parts of Asia, and Central and South America) have faced economic downturns rather than the growth promised by economic integration.
Political manifestations of globalization:
Globalization has impacts in the political arena, but there is not a consensus among social scientists about the nature and degree of its impact on national and international politics. Some political scientists argue that globalization is weakening nation-states and that global institutions gradually will take over the functions and power of nation-states. Other social scientists believe that while increased global inter-connectivity will result in dramatic changes in world politics, particularly in international relations (i.e., the way states relate to each other), the nation-state will remain at the center of international political activity.
Political theorists and historians often link the rise of the modern nation-state (in Europe and North America in the nineteenth century and in Asia and Africa in the twentieth century) with industrialization and the development of modern capitalist and socialist economies. These scholars also assert that the administrative structures and institutions of the modern nation-state were in part responsible for the conditions that led to industrial expansion. Moreover, industrial development brought with it social dislocations that necessitated state intervention in the form of public education and social "safety nets" for health care, housing, and other social services. Consequently, the development of the contemporary nation-state, nationalism, inter-state alliances,...