Essay about economic,cultural,financial and political globalization essay.
Answers
Globalization phenomenon, as an inescapable process, has influenced many scoops of human life. This phenomenon with its superpower of influence has created new and different age than the past. Among individual and social various scopes of human life, the culture and politics have been more influenced by globalization. The cultural scope, as a most basic, general, widespread and vital of individual and social property of mankind, has been more influenced by globalization that the politics. Evolution in culture and notion of human about himself, increase of knowledge, nation’s political-cultural awakening, formation of new political-cultural identity, increases of human mobility, and etc. are as positive influence of globalization on culture. Of course, this phenomenon has had some mortal and uncultured consequences such as; identity crisis, weaken subcultures and expand culture of Western consumptionalization in Eastern societies and less development countries. In politics scope, globalization has had many negative and positive consequences such as; increase power and liberty of nations, groups and nongovernmental parties, expand of new political culture, weaken and washy of the role and hegemony of states in illegitimate controlling of nations, change and redefinition of political theories in national and international scopes, inter new political actors into in scopes of regional, national and global decision making.
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Answer:
Explanation:
In this rapid changing world, globalisation affected people and states around the world largely. A British Labour Party politician, Clare Short, once said: “People have accused me of being in favour of globalisation. This is equivalent to accusing me of being in favour of the sun rising in the morning. (Ridgers, 2012)” This quote shows quite well that globalisation is the new ages of human history, which is inevitable. Most of the people think that globalisation is the process of interconnection between the people, companies, governments of different nations, in which driven by massively increased trade and cultural exchange (Navar, 2003). However, it may be too simplistic. Globalisation, in fact, has many underlying meanings and brings some unforeseeable consequences. Therefore, this essay will attempt to analyse globalisation and find out its true definition. In order to demonstrate this, this essay will discuss the meaning of globalisation in three dimensions: economy, culture and politics along with three waves of globalisation, namely hyperglobalist, sceptics, and transformationalists.
Globalisation in economy dimension refers to the worldwide movement of the global economy, resulting in the increased interconnectedness of national economies with free transfer of goods, capital, and services across national borders (Guttal, 2007). Financial markets, such as credit markets, commodity markets and capital markets are the apparent examples. Since it seems that the process of globalisation is not inevitable due to the reasons above, then it may be appropriate to look at what impact will it make.
Politically globalisation means the expansion of the worldwide political system (Koshy, 2001). In the hyperglobalist opinion, political globalisation challenges the nationalism, which leads to the decline of national-state and the loss of national sovereignty (Koshy, 2001). International organisations including the World Trade Organisation (WTO) and the European Union (EU) superseded the nation-states to take the lead in decision-making (Haynes, 2003). Many states’ sovereignty is weakened when the membership in intergovernmental organisation asks them to hand over (Agnew, 2009). For example, German students in Scotland unexpectedly are allowed to vote in elections to the Scottish Parliament. They think there is a shared sovereignty between nation states and international organisations (Haynes, 2003). Nation states still have the power to make important decisions. States and international political body cooperate with each other to solve the global problems, such as demands for human right, environmental pollution, developments in international transport and communication (Haynes, 2003).
In conclusion, this essay has attempted to demonstrate the meaning of globalisation in economic, cultural, and political dimensions. In these dimensions, it is not hard to see that technology revolution in recent years has played a vital role in the growth of globalisation. Moreover, with three perspectives on globalisation, it is likely to conclude that there are various meanings of globalisation in different dimensions and it is neither the totally positive nor negative. Globalisation helps as well as harms the world relations. Therefore, it is better to raise public awareness of globalisation, so that people could take it carefully to avoid the worst consequences.