Will Processes of Globalisation Accelerate in the Future - Essay Example

Will Processes of Globalisation Accelerate in the Future?

Introduction

Globalisation has been a common phenomenon, where the world economies have been relying on one another for a long time. The most salient aspect of the current world is the rapid increase of globalisation that has been catapulted by various factors, most significantly information technology development. Globalisation has been identifiable in various areas such as culture, technology, and economy. The processes of globalisation make the national economies appear as a single mega economic space (Healey, 2008). Companies have been exposed by the globalisation which has led to massive competition between them globally. Globalisation started back in the fifteenth century, and significant growth has been witnessed over this millennium.

Again globalisation has been impacted positively by the post-World War II period, where there have been a substantial amount of time for devotion in the enhancement of the international links and exploration of the unmasked opportunities in every field. It can be argued that currently globalisation is undergoing a state of transition and soon will move to a new structure of the global interdependence. With such anticipated process, the globalisation will unleash a mammoth force of free markets that will supersede the control imposed by the national authorities (Herting, 2012). The current trend and the factors that influence globalisation show that the global economy is not just moving to more globalisation but rather a corporate globalisation. The twentieth century has seen the polarisation of the globalisation strategies through the massive spread of the international enterprises.

Future Speed of Globalisation

Based on the fifteenth century attempts by European countries to establish global empires and later in the eighteenth century when the European companies established manufacturing firms in the colonies, the acceleration of the processes of globalisation seems not to slow anytime soon. Currently, the world has significantly healed from the effects of the Second World War that left many nations having grudges with one another. The existing atmosphere between various nations has given a platform for the nations to interact more and create expansive links in future (Newell, 2009). The rate at which the new developments of the information technology innovations are being invented is one of the major factors that will influence acceleration of the process of globalisation in future. Together with other factors the process of globalisation will be accelerated in future.

One of the major factors that will in future enhance the process of globalisation is the reduction of the trade barriers that many nations have been striving to achieve. For instance, in the European Union, about twenty-seven countries have joined the league and have been granting their members common privileges. Since more members are yet to join such organisations and are willing to join and some made application to join, it seems that when they will all join and effectively work together the process of globalisation will be enhanced. Other major organisations that will impact to process globalisation are United Nations Organisations and other continental organisations that will offer reduced trade barriers among the member states (Rodrik, 2011). Such aspects will lead to a faster process of globalisation as compared to the current state where only a few nations have effectively joined such organisations that have lessened the trade barriers.

Again, the currently much-debated proposal for the African states to unite will be a boost to the process of globalization because the expansive continent will be able to lessen trade barriers that have been existing and enabled their members to trade freely. Such factors will substantially accelerate the process of globalisation. Moreover, the existing world peace will also enhance the trade links between various continents in future and spur the process of globalisation.

Trading blocs will also impact to the accelerating the process of globalisation. Various regional agreements have been made, but future will also see other bigger and more integrated trade agreements signed that will abolish the internal trade barriers and result in common external tariffs. For instance, many nations have currently joined the World Trade Organisation, but its operations have not been effectively implemented. When the operations within the member states maximise the opportunities that are offered by the trade organisation will enhance the process of globalisation. When new members join these trade organisations, their people will be able to access the good and services from the member states with ease a step that will enhance the process of globalisation among the members of the organisation (Skidelsky, 2012). Again when world trade organisation has improved its operations among the member nations, it will promote the global interdependence through the created trade. Due to the dismantled internal trade barriers, the member countries will switch from buying high-cost goods to lower-cost goods from the other member of the trading bloc.

The Internet has entered the world in the 1960s, but its future looks promising and will go hand-in-hand with the process of globalization. The growth of the internet is quite incredible, where in the future it will increase e-commerce and enable various sizes of films to compete favourably in the global markets. The internet will not only impact the film industry but almost every field. For instance, sharing of information around the globe will be quite effective and faster because more individuals will have acquired internet literacy (Sullivan, 2002). Some the global businesses have placed their information on the internet, where with current trend it shows that many more businesses and companies will enter the internet marketing and people from various parts of the globe will be able to access the international market through the internet.

In various parts of the world, internet is at its infant stage, which shows that soon when more individuals will have known how the internet works will be able to maximise the internet platform to share information or market their goods and services. For instance, big and smaller shops will set up their websites and practice online auction. The result will mean that more nations will become interdependent and rely on one another for the selling and provide goods and services. Currently, mainly the developed nations are the one that has managed to embrace the internet effectively as a tool for their wealth creation with many of the third world nations lagging behind. However, with current trend the use of the internet in the developing countries will improve in future and result to effective utilisation of the opportunity to trade globally with much ease (Toro Hardy, 2013). The Internet and its World Wide Web will by far accelerate the process of globalisation in future when the internet has spread to all parts of the world.

The rate of population growth will also have a significant impact to the enhanced globalisation in future. The population is projected to continue growing, and the number of the job opportunities that will be available to absorb the numbers will be minimal as compared to the current situation. The expanding population of the unemployed individuals will mean those nations will seek to enhance integration between one another so as to acquire job or business opportunities in the foreign countries for the bigger unemployed category (Fougner, 2009). Once such international interaction is attained due unemployment, the rate of globalisation will be enhanced.

Unemployment seems to increase in future because various fields have been explored and currently what they are doing in computerising the operations which will mean that there will be limited opportunities that will be occupied by human personnel in the industry. Again, more information technological advancements are yet to come, which will render a bigger population jobless (Stefan Bernhard, 2010). When massive computerisation takes place the desire to have enhanced intercontinental links to exploit probable opportunities to create jobs for the world population will be at its peak. It will at this time when the globalisation will also peak due to the enhanced global links. The rate of globalisation will not only be catapulted by the great number of unemployed but the fact that some the unemployed will constitute a greater portion of the highly educated personnel.

The process of globalisation will also be enhanced by the improvement of the transport costs that are likely to reduce significantly in future. The air and water transport will have lower freights charges in future due to the ever advancing technology that will make transportation charges to be lowered. The lower global transportation cost will increase the number of goods and individuals shipped from one location to another; this aspect will accelerate the process of globalisation to a greater extent. The trend shows that in future better and efficient transportation means that will take shorter time of travel and consumer less energy will be in use which will boost the trade flows around the globe (Toro Hardy, 2013). The enhanced trade flows due to the efficient transport systems that will be in use will hasten the process of globalisation.

Various countries around the globe are in the initial stages of initiating market-related interactions. For instance, Asia has currently attracted many nations to trade with them. The future relations of this kind will be enhanced which will result in the establishment of numerous multinational corporations that will own the production facilities in various countries. The increased multinational corporations will be able to trade around the globe with ease because they will be utilising their vast knowledge of cost conditions in different parts of the world where they have branches. For instance, the multinationals companies will be able to utilise the elements limit cheap labour in the developing world. Another aspect that will spur the growth of the multinationals corporations is the increasing number of the learned personnel in the third world countries (Newell, 2009). This aspect will lure the multinational companies to relocate to such places and establish their firms because of the availability of the cheap and knowledgeable labour. The whole process will ultimately accelerate the process of globalisation.

Conclusion

The speed of the process of globalisation has been accelerating over the recent past, but the future seems to accelerate the process of globalisation further. Various factors will catapult the process of globalisation, which will entail the increased number of the educated and unemployed personnel that will be yearning to explore the overseas job opportunities to earn their living. The future development in transport and reduction of the trade barriers will accelerate the process of globalisation. The other factor that will contribute to speed up the process of globalisation is the enhanced continental relations that will be realised based on the current attempts by various regions to unite and forge ahead together with common trade tariffs. The Internet also will doubtlessly accelerate the process of globalisation because in future many people globally will be computer literate and the access of internet will be much rampant. People will be able to trade or market their products through the internet, and the spread of information will be much faster around the globe.