Globalization: A Contemporary World Overview

Globalization “…globalization means the onset of the borderless world…” (Ohmae, 1992). Swedish Journalist Thomas Larsson (2001) saw globalization as “the process of the world shrinkage, of distances getting shorter, things moving closer. It pertains to the increasing ease with which somebody on on...

Globalization “…globalization means the onset of the borderless world…” (Ohmae, 1992). Swedish Journalist Thomas Larsson (2001) saw globalization as “the process of the world shrinkage, of distances getting shorter, things moving closer. It pertains to the increasing ease with which somebody on one side of the world can interact, to mutual benefit with somebody on the other side of the world.” The Dimensions of Globalization - Economic Globalization - Political Globalization - Cultural Globalization - Technological Globalization ECONOMIC GLOBALIZATION Refers to the widespread international movement of goods, capital, services, technology and information. Economic globalization is the increasing interconnectedness of economies worldwide through the movement of goods, services, technologies, and capital across borders. It encompasses the globalization of production, finance, markets, technology, organizations, institutions, corporations, and labor. POLITICAL GLOBALIZATION Refers to the growth of the worldwide political system, both in size and complexity. The complex system of global governance, which includes national governments, their governmental and intergovernmental organizations, and non-governmental organizations. It highlights the declining importance of nation-states and the emergence of other actors in the political arena. The United Nations is cited as a prime example of political globalization. CULTURAL GLOBALIZATION Refers to the transmission of ideas, meanings, and values around the world in such a way as to extend and intensify social relations. This process involves the increasing interconnectedness and exchange of cultures worldwide. It is driven by the internet, popular culture, and international travel, which facilitate cultural exchange and the formation of shared norms, knowledge, and identities. This process has historical roots in commodity exchange and colonization. McDonalization a term coined by sociologist George Ritzer. the process of a society adopting the characteristics of a fast-food restaurant. As McDonald's and other fast-food chains expand into different countries, they introduce their standardized products, services, and values, which can influence local cultures and traditions. TECHNOLOGICAL GLOBALIZATION Technological developments are conceived as the main facilitator and driving force of most of the globalization processes. Before elaborating on the consequences of several technological developments, we must go through the definition of technology as a sociological term, so that we can further explore the social and political role of technology in the globalization process. Metaphors of Globalization Metaphors use one term to help us better understand another. In this context, the states of matter—solid and liquid—will be applied. Additionally, related concepts like structure and flow, included in the definition, will be discussed. Solid The epochs that preceded today’s globalization paved way for people, things, information, and places to harden over time. Consequently, they have limited mobility (Ritzer 2015). The social relationships and objects remained where they were created. Liquid – Liquid, as a state of matter, takes the shape of its container. Moreover, liquids are not fixed. Liquidity, therefore, refers to the increasing ease if movement of people, things information, and places in the contemporary world. online content, like viral videos on YouTube or Facebook, can spread rapidly and globally, making internet celebrities famous worldwide. Additionally, globalization has made borders less rigid, allowing for easier movement of people and goods. This trend aligns with Ritzer's concept of liquidity, where things flow freely and can dissolve barriers, leading to the decline of traditional nation-states. Globalization can be best understood as a fluid process, similar to the flow of liquids. This idea of flow, as argued by Appadurai and Rey and Ritzer, is crucial for understanding the interconnectedness and dynamism of the globalized world. The Global Economy The global economy refers to various financial activities among different nations, with either negative or positive outcomes. The concept of a world economy is closely linked to daily life, based on the interconnected nature of the different countries around the globe. Trade relations are significant indicators of the global economy. As such, the growth of globalization of the world's economies is largely dependent on the advancement of science and technology. Despite its drawbacks, globalization is still transforming the world. Socially, it has fostered the exchange of ideas and cultures, contributing to a worldview where individuals are increasingly open and tolerant of each other. The Modern World System (MWS) theory developed by Immanuel Wallerstein, explains the contact of economies between core, semi peripheral, and peripheral countries in the world. The core states have the absolute advantage over the other through unequal exchange and extraction of raw materials from periphery and semi-periphery. Thus, the economic globalization and market integration of the 21st century are extensions of the same economic motives of imperial powers of the nineteenth and twentieth centuries (Balaam and Veseth, 2008). ACTIVITY Follow the product!