GLOBALIZATION

Globalization Radically Changing the International System

Globalization Radically Changing the International System

Introduction

Globalization is a century old phenomenon with the first wave happening between 1870 and 1914 when international trade grew by about 4 % per annum. World War 1 disrupted this process. Presently Globalization has matured by international trade growing by sixteen times in the past 50 years. The pace of globalization and its intensity has provoked fierce debates about the consequences, implications, and future trajectory of globalization. It has had a significant impact on all dimensions of international trade and civilization including trade, politics, economics, technology and westernization of society as a result of globalization. Drawing on a vast and growing body of research, the following sections elucidate the impact of globalization on politics, trade, economics, technology and westernization in society.

Discussion

Globalization and international politics:

The analysis of international regimes and trends developed in global politics especially during the current phase of globalization suggest that the west enjoys supreme power by creating its faction in globe and seeking or, to say it in a military perspective, demanding favors from major international powers and most of the developing nations to support the geo-political strategy pursued by west and in particular America (Day & Masciulli, 2007).

Understanding the international distribution of power enables in deriving conclusion regarding assessment of major political force conspicuously affecting foreign policies of developing countries in the East (Fierke & Jorgensen, 2001).

This does not mean that nation-states have lost their salience and are becoming irrelevant. The purported decline of the state has been greatly exaggerated by writers and theorists of international politics and globalization. To the contrary, these analysts argue that states have tremendous resilience and remarkable abilities of self- perpetuation and adaptation and that the forces of globalization have only redefined the reach and role of the state. According to Slaughter (2004, p. 18), “The state is not disappearing; it is only disaggregating into its component institutions” (Slaughter, 2004).

Impact of Globalization on international economy and trade:

The Complexities of Economic Globalization has had a significant impact on free markets and free markets are often under influence by geo-political trends in globalization. Research confirms that a well-functioning market economy is indispensable in this era of globalization and that there are no viable alternatives to free markets. However, it is also recognized that to function effectively markets require transparent rules and institutions. A market economy supported by strong institutions and operating in a free democratic society is demonstrably the most effective form of economic organization. While international trade poses both benefits and risks, the benefits outweigh the risks (Spoor, 2004).

Globalization tends to reap economic benefits by using factors of production and in particularly labor from under developed of developing nations and among these nations those having relatively high-exposure to globalization fare better. And example is Mexico where average labor earnings during 2001 and 2005 decreased by 10% relative to high-exposure states where export-oriented industries are located. This is further evidence that individuals born in states with high exposure to globalization have done ...