Globalization Lecture 6: Trasnational Strategies for Managing Globalization

Question 1

What is Global Governance

Answer 1

is the collective management of common problems at the international level. It includes all the institutions, regimes, processes, partnerships, and networks that contribute to collective action and problem solving at the international level.
- Global governance differs from government, which implies sovereign prerogatives and hierarchical authority. Global governance does not equate to world government, which would be virtually impossible for the foreseeable future, if ever.

Question 2

Three effects of rapid globalization

Answer 2

Interdependence, Interconnected, Interwoven.
the risks to the international system are no longer locally containable but are now potentially dangerous to global security and stability. ➢Threats such as ethnic conflicts, infectious diseases, and terrorism as well as a new generation of global challenges including climate change, energy security, food and water scarcity, international migration flows and new technologies are increasingly taking centre stage.

Question 3

Why are transnational partnerships needed? - Achieving sustainable development

Answer 3

• Deepening economic globalization, and increasing migration, trade and capital flows, and climate change and increased activities in the global commons make individual States more susceptible to policies adopted by others
• increasing interdependence among States has not been accompanied by sufficient adjustments in the global governance regime

Question 4

Why are transnational partnerships needed? -

Need for global economic governance

Answer 4

• Bilateral, regional and multilateral trade arrangements have increase but also pose hurdles for developing countries
• Financial market liberalization have increased macroeconomic vulnerabilities

Question 5

Why are transnational partnerships needed? -

Progress in social development

Answer 5

• Absence of adequate mechanisms to regulate movement of workers between countries, and weak protection of the rights of migrants and their families
• Restricted access to technologies in health, agriculture and other areas.

Question 6

Why are transnational partnerships needed? - Environmental sustainability

Answer 6

• Weak fragmented global environmental governance regime

Question 7

Why are transnational partnerships needed? -

Ensuring global security:

Answer 7

• Conflicts can become lethal for the entire world, well beyond the belligerents directly involved

Question 8

Why are transnational partnerships needed? -

Answer 8

5 reasons:

1. Achieving sustainable development
2. Need for global economic governance
3. Progress in social development
4. Environmental sustainability
5. Ensuring global security

Question 9

What does it mean to have a multipolar world?

Answer 9

• The expanding economic clout of emerging powers increases their political influence well beyond their borders. Power is not only shifting from established powers to rising countries and, to some extent, the developing world, but also towards non-state actors.

They include
- International governmental organizations
- Non-state actors (NGOs, civil societies, MNCs,
terrorist networks)
- Informal Grouping (G-20)

Question 10

What are some obstacles to making globalization work?

Answer 10

Globalization is a construct and whether it benefits people or not it depends on how it is managed. Stiglitz argues that it is not managed properly because institutions like the IMF helped developed countries more than poor nations.

• Institutions have placed greater emphasis on market, competition and profit ahead of broader welfare measures like environmental health and better standards of living.
• US excessive influence
• When poor countries seek aid, the Washington Consensus attaches economic policies and lending conditions that are often counterproductive and even undermine the sovereignty of those nations. Its requirements often include massive privatization, spending cuts, lower import tariffs and exposure to volatile foreign capital

Question 11

What are some solutions to make globalization work?

Answer 11

A regulatory power of government, rather than unfettered capitalism,can makes free markets work. In the absence of this, markets dissolve into chaos, dishonesty and secrecy.

• developing countries should be treated differently. This means poor countries should have greater market access without reciprocity including in agricultural products and the elimination of tariff and non-tariff barriers.
• Bilateral trade agreements should be restricted
• Patents: Intellectual property considerations should be tailored to the needs of the developing countries.
• MNCs: Regulations need to be put in place to ensure business/corporate social responsibility
• making efforts to reduce corrupt governments.
• Compensation for maintaining bio-diversity