Discuss the nature of globalization.
Discuss the nature of globalization.
What is the basic nature of globalization?
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Nature of Globalization:-
Globalization is not a new concept. Globalization is an international process that has long existed in the international arena. The re-implementation of the globalization process began in the last century, especially after the 1990s. According to Roland Robertson, globalization is associated with the idea of spreading a New World Order. Globalization is closely associated with the concepts of free movement of capital, free market economy, liberalization and privatization etc. The nature of globalization can basically be discussed in terms of –
1. Economic Aspects :-
At the core of the globalization process is its economic nature. The International Monetary Fund (IMF), World Bank and GATT (General Agreement on Trade and Tariff) formed at the next stage of the World Trade Organization (WTO) implemented the process of economic globalization. In the economic field, the main aspects of the globalization process include the rapid expansion of world trade, the free movement of investment capital, the inflow and outflow of people from different regions, the movement of money and other mediums of exchange from one country to another, the free trade and investment of multinational trading organizations, the transfer of technology between different countries. Exchange and spread of information technology and information media in the international field etc.
Mogens Buch Hansen, an expert in international relations, reviewed the financial aspect of globalization in his work entitled "The WTO Agreements on Agriculture and its impact on Developing Countries" and said that the rich world is getting richer and the poor world is getting poorer while following the path of liberal economy guided by the World Trade Organization.
2. Political aspect:-
Politically, many believe that globalization has created a crisis of the nation state. Globalization has eroded the sovereign power of the nation state and transformed the state into a market-oriented organization. Professor Holton in his work titled "Globalization and The Nation State" while discussing the impact of globalization on nation-states said - the world in which nation-states live is changing. Globalization is a major source of this change. In his book Governance as a Globalizing World, John D. Jonahew says that the mobility of capital in the era of globalization, the exodus of skilled labor from one country to another, the transfer of money and shares through information technology - etc. have disrupted the traditional ability of governments to impose taxes.
3. Cultural aspects:-
Culturally, the main goal of globalization is to create a homogenous culture throughout the world. Cultural globalization has promoted a commoditized consumerist culture with the help of modern media including the Internet, resulting in the erosion of regional and national cultural distinctiveness. Many have termed the American McDonald's culture as the homogenous culture that globalization seeks to mold diverse cultural traditions into.
KM Panikkar, commenting on this in his essay on Globalization, Culture and Commodity, says that multinational organizations are particularly active in the field of culture. The cultural invasion going on in third world countries today is an attempt to establish cultural imperialism. However, as a result, globalization has particularly helped to bring about cultural convergence among the nation-states of the world.
4. Environmental Aspects :-
According to environmentalists, the process of globalization has created a crisis in the world's environment. The dominance of the corporate world has not only destroyed the natural environment but also commoditized it.
Environmentalist Vandana Shiva in her article titled "Globalization and Environment" writes - Earth's main resources are land, water and ecological diversity. These natural and natural elements are being transformed into products due to globalization. As a new type of resource, these elements have been dispossessed of tribal and peasant communities and become the property of globalized corporations. Globalized trade agreements undermine national constitutions, meaning the abolition of citizens' rights to life, land, water and ecological diversity.
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