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Week2 - Essay Example

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The concept of ‘Globalization’ is very much a part of contemporary vocabulary and connotes “increased interconnectedness in political, economic and cultural matters across the world” (Michael, 3). Interconnectedness is the integral characteristic of globalization. There…
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Week2

Download file to see previous pages... While it is true that MNEs and IGOs are playing an exponentially increasing role globally, it cannot be accepted that they “are supplanting,---
traditional nation-states as the primary economic and political units of world society” (Author, 3). States still retain their roles, and protect their self-interests: China’s exchange-rate policy exemplifies the power of the nation state. Again, particularly in democracies, electoral issues and vote-bank politics often over-ride global compulsions.
The skeptic’s stand that “globalization is a myth” (Michael, 4) is likewise too extreme for my thinking. Skeptics equate globalization with “a perfectly integrated worldwide economy” (Author, 5). However, globalization is not just a matter of economics, but also interconnectedness in the spheres of science, medicine, arts and humanitarian welfare. Regional and local power centers are very much a part of the global framework, but these trading blocs and nation states are certainly not immune to international pressures. Again, the global pressure successfully exerted on China in the case of the activist, Chen Guangcheng, illustrates this point.
The transformationalist approach, which strikes a balance between the hyperglobalist and skeptical schools, appeals to me. It accepts that “globalization is a central driving force behind the rapid social, political and economic changes that are reshaping modern societies and world order” (Author, 7). It submits that there is as yet no “borderless economy” (Author, 3). At the same time, it concedes that international businesses cannot evade national regulations. It supports my stand that the world is not yet fully divided nor fully integrated. Mainly due to technological advances, the impact of any event is felt on life in all parts of the globe. While the world has not yet become “a shared social space” (Michael, 3), it is continuously being transformed and ...Download file to see next pagesRead More
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