Globalization processes in the modern world challenging the national economy development (original) (raw)
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The process of continuing integration of world economies, which is called globalization, is increasingly underway in all parts of the globe. While the movement of goods, capital, technology, services and ideas across borders is not a new occurrence, it's a process in the past few decades marks a qualitative break with the past. Supported by rushing pace of technological modification, by trade liberalization and price, and by rising significance of supranational rules, globalization has opened national economies to much more strong competition than ever before. A combination of globalization and transition processes shakes overall advance of transition economies in most fundamental ways. Fast progression in the process of transition escorted by full partaking in the global economy empowers countries in a region and their economic agents to grab the new openings and earn paybacks of globalization. Without basic evolving competences and the suitable policy structure, however, economic players in states in transition will find themselves incapable both, to progress competently the process of transition and to contest effectively in the global atmosphere.
Globalization and its political, economic and cultural impacts on modern nation-state
From being an economic strategy to being the buzz word of the time, Globalization has grown and emerged in a speed almost as that of a social trend. But as ironic as it may sound, the term is more often than not associated with a diverse array of things making it an extremely contested concept, and essentially so. Academicians perceive globalization in various different ways depicting it as an ideology, a condition, a system of processes, a policy, a market strategy, a predicament and even an age or an era. With such diverse lenses breeds diverse nomenclature and hence, those referring to it as a social condition term it as 'globality', characterized by the existence of global economic, political, cultural and environmental interconnections and flows that make many of the existing territorial boundaries seem futile. Sticking strictly with the etymology of globalization brings forth the idea of it being a set of social processes that are thought to transform the prevailing societal condition into one of globality. Globalization, then, almost explicitly suggests some sort of dynamism best captured by the notion of development or unfolding along discernible patterns. Yet another term is 'Globalism' opted by those who view the concept as that of an ideology of globalization going by the age-old tradition of employing-ism suffix to signify the theories, values and assumptions working behind driving the process. Hence, scholars exploring the dynamics of globalization have rightly come up with characterizing it as a complex, multidimensional and multifaceted concept which, at any cost, cannot be boiled down to a single-simple phenomenon or theme. As Andrew Heywood rightly puts it-"the problem with globalization is that it is not so much an 'it' as a 'them': it is not a single process but a complex of processes, sometimes overlapping and interlocking but also, at times, contradictory and oppositional ones." Perhaps the best way one can try unraveling the complexity, then, is to look at how these scholars have defined globalization in their own ways and consequently work out some attributes that appear persistently even when viewed through varied lenses. "Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa." ~ Anthony Giddens, "The concept of globalization reflects the sense of an immense enlargement of world communication, as well as of the horizon of a world market, both of which seem far more tangible and immediate than in earlier stages of modernity." ~ Fredric Jameson
Globalization of modern economies
2020
The purpose of the article was to show the importance of globalization for modern economies. Presenting the concept of globalization and its essence makes an assumption that it affects all aspects of human activity legitimate. Globalization is a multi-threaded term consisting of complex processes. The article presents various definitions of this concept and division of economic globalization factors. However, their clear division is not possible, because they occur in cause and effect relationships. The effects of globalization felt by individual entities depend on the degree of economic development or qualifications. The problem of the ambiguity of the impact of globalization on the modern world lies not in globalization itself but in the way it is interpreted. The article also presents globalization after 2008 and possible scenarios for the future stage of globalization.
After economic globalisation is defined, the factors that have favoured it in recent times are outlined and the process is placed in a historical context. Measures of the recent expansion in economic globalisation are given, such as trends in the proportion of global GDP traded internationally, and the relative size of global FDI. China’s comparative economic openness compared to the rest of the world is discussed. Potential positive and negative economic and social impacts of globalisation are explored, taking into account important economic theories. Particular attention is given to globalisation and the evolutionary dynamics of economic growth by considering the economic ‘catching up’ phase of countries, such as China, and by placing this in a general evolutionary context. The question is also posed of whether economic growth will eventually cease, and whether industrial and social structures could become defective once economic globalisation is well established and enters its mature phase. Economic growth fostered by growing globalisation also raises globally important environmental and natural resource issues of relevance to the sustainability of economic growth and to the fulfilment of human goals. Some of these issues are investigated, taking into account theories that provide an optimistic prognosis, as well as those which warn of dangers and difficulties ahead.
Globalization: Latest Trends or Permanent Development Direction?
Vol 19, No 1 (2020), 2020
The article views economic globalization in the theoretical and historical context. Analysing the origins of terminological interpretations, a new approach is being developed regarding the globalization’s objectivity and irreversibility as an inherent element in the development of the human community and international economic relations. Its commonalities and differences from the internationalization of the world economy are indicated. This raises the question of the globalization’s timing as a process, to answer which there are different approaches. The author examines the existing variants of periodization of globalization processes, as well as its peculiarities in the times of the global financial crisis of 2008–2010. He concludes that globalization is an objective process of the human community (economic) development of the area of its residence and that it is characteristic for the whole period of humanity’s existence. It is caused by the innate propensity of humanity for coope...
Understanding Globalization and its Future: An Analysis
Globalization is a complex and dynamic phenomenon. What make this phenomenon more complex are the contradictory justifications on the origin of globalization, conflicting ways of defining the phenomenon and differing viewpoints on globalization dimensions. This paper tries to provide definitions of globalization which support its historical development perspective. History has provided some details about ground breaking events in different eras of globalization. Various dimensions of globalization are also available in this study. Brief description of each dimension is given for understanding globalization from different aspects. Last and most important part of this paper is comprised of current events, statistics, reports and trend analysis which help in predicting globalization’s future. Future is forecasted based on available facts and figures. Conclusively, the result of all discussion on future of globalization is that it will survive and gradually grow with respect to all aspects. Stage is set for enhanced globalization. Although it has pros and cons, it is on our part to support, facilitate and encourage positive impacts of globalization, while searching ways to minimize or discourage its drawbacks.
Approaching globalization from the perspective of socio-economic effects
Proceedings of the International Conference on Business Excellence, 2021
The topicality of the topic lies in the importance of globalization from the perspective of sustainable development in the socio-economic and ecological sphere. Globalization cannot be considered as representing a completely new phenomenon in the history of the world, it has certain historical antecedents, many specialists arguing that it is nothing but a new name for an older phenomenon. Globalization is the global trend of the world’s economies to become borderless and interconnected. Globalization has caused major damage to nature and the drying up of non-renewable resources, creating the possibility of global campaigns to develop. Civil societies are less efficient in the face of global factors, which cannot be held accountable, such as governments or companies anchored in the territory, visible and affordable.
The possible paths of a new globalization
International Journal of Development and Sustainability, 7(9), 2310–2333, 2018
This paper is focused on the structural and evolutionary examination of the current global crisis and restructuring by supporting in terms of methodology that, first, in every interpretation of the global crisis we ought to analyze and perceive the historical and evolutionary character the dynamics of the global socioeconomic space have while, second, all the dynamic dimensions of the modern world-economic, technological, social and geopolitical-should be examined together, in their narrow dialectic co-adaptation and co-evolution. The multi-faceted crises of every socioeconomic system are both the products and the producers of globalization crisis over a co-determinatory and co-evolutionary course, unfolding inside a contemporary capitalism which intensifies unceasingly the dialectic reproduction of the global interdependence. This crisis of this capitalism is sustained, nourished and reproduced by the absence of a "new wave" of effective innovations, throughout all the levels of socioeconomic activity. The overcoming of the crisis therefore requires prior installation and assimilation of new, effective change management mechanisms at all levels of contemporary reality. Based on the available data it is estimated that the challenge of building a new global developmental trajectory engages with all the levels of analysis and intervention: the individual and the collective, the material and the symbolic, the national and the local, the social and the economic, the microeconomic and the macroeconomic, the cultural and the political. The only sustainable way out of the global crisis goes through the effort to adapt progressively to a new evolutionary thinking of perceiving the global crisis dynamics, which represent the internal forces of innovation and effective change management within every socioeconomic system and on a planetary scale and across every level of action.
COLLEGE OF SOCIAL WORK (Autonomous), NIRMALA NIKETAN, University of Mumbai , 2021
The 21st century has been the era of Globalization, Privatization and Liberalization. Among all of these three concepts, the concept of Globalization has changed all the dimensions of society whether it is political, economical or cultural. It has transformed the world into a homogenized shrink village and has resulted into Time-Space compression. The revolution in the field of Information and Communication Technologies has been worked as a major tool of Globalization. Sometimes it also showcases a dualism between two different values and culture and creates a 'digital divide' within the society. Thus, the process of Globalization has its own characteristics and there are many concepts that try to define Globalization in their own perspective. But this paper tries to review all existing literature and to understand the notion of Globalization according to the contemporary period and how it has been implicated in this era of post-modernization.