Globalisation

Question 1

What are the three Globalisation Perspectives ?

Answer 1

• Hyper Globalists
• Skeptics
• Transformationalists

Question 2

What are the key points of Hyperglobalists

Answer 2

• They envision a borderless world with a global economy.
• Global diffusion and hybridisation of cultures
• A Global Civil Society where the autonomy of the nation state is eroded
• Tony Blair
• The Guardian states that traditional nation state is becoming obsolete due to the: rise of multinational corporations / Technological Revolution / Transnational Challenges (The Demise of the Nation State)

Question 3

What are the key points of the Skeptics

Answer 3

• They emphasise that globalisation has reinforced existing stratifications and did not solve them
• That Globalisation is a myth
• Believe that world economy is less integrated due to regionalism
• Regionalism refers to three financial blocks: Europe, Asia Pacific, North American
• Trump

Question 4

What are the key points of Transformationalists

Answer 4

• Globalisation is viewed as reshaiping but not erasing existing structures of power and heirarchies
• Some states adapt, other marginalised
• The re-engineering the power functions and authority of National Governments
• State will retain the ultimate legal claim of effective supermacy
• Barack Obama

Question 5

Is Globalisation in reverse ?

(Medhora, 2017) (The Economist)

Answer 5

• Whilst Brexit and Trump Suggest Anti Globalisation movement
• These were influenced by demographic factors such as non-urban populations and older voter turnout
• China and India are acetively pursuing global initiatives
• Economic globalisation is stronger in emerging countries
• Younger populations view globalisation more favourably
• May indicate a pause in globalisation
• Recent years have seen a shift towards protectionism (Due to 2008 financial crisis)
• This slows economic growth
• Globalisation has slowed but has not collapsed

Question 6

Disadvantages of Globalisation

Alfred Sant / David Held

Answer 6

• Jirbah min hu l-irhas
• 2008 crisis caused by the abuses and bad leadership of banks and institutions which globalisation proliferated
• Economic Inequality
• Environmental Degradation
• Erosion of Multilateralism

Question 7

Benefits of Globalisation

The Economist

Answer 7

• Argue that globalisation is a force for good
• Lifted millions out of poverty
• Increased life expectancy
• reduced child mortality
• Acknowledgedes that globalisation has flaws like increasing inequality
• Argues that the solution lies in better domestic policies
• Warns that turning away from globalisation could lead to economic stagnation and increased geopolitical tensions