political impact of globalization

This view has support since the reasons for and sequencing of many countries’ decisions to globalize were nationally distinctive. Stiglitz, J. E. (2002). Cox, R. W. (1987). Globalization has been studied from two general perspectives. Also, for example, in the East Asia and Pacific regions, the percentage living on less than $2 a day fell from 69% in 1990 to 25% in 2007. The communications revolution does much the same for new ideas and fads. Indeed, the most striking is the different paths that countries have taken since the 1970s. External pressures to conform to global norms may be stronger today than ever but such pressures have always existed. On the other hand, globalization has been viewed as cyclical; high levels of global integration have been associated with two distinct periods in recent history. The largest examples of this are the United Nations and the European Union. Globalization is alleged to have had a variety of effects on economic growth. Globalization has also been credited with having effects on politics. While the dynamics of capitalism is changing and each country is unique in its political makeup, globalization is a set-in-stone "program" that is difficult to implement without political unrest. The development of colonies around the globe and the extension of European trade, capital, values, and political power undergirded this period of globalization. The Impact of Globalization on Economic Growth. GLOBALIZATION AND ITS SOCIAL-CULTURAL-POLITICAL AND ECONOMIC IMPACTS Some are dominated by one or two states that coerce others to adopt their preferred norms and practices even if these are not very beneficial for the others. Sometimes technological change is treated as exogenous—that is, it has sources other than countries’ policies or global integration. Moreover, the trends associated with globalization, like social media and the tension between free trade and labor markets, can often make politicians seem powerless. Eichengreen, B. Some have argued that the world’s largest economies have experienced a “great moderation” since the 1970s with a dampening of business cycles and decreasing inflation due partially to greater international exposure. Why have some regions or peoples been more involved in this process than others? Many other countries have seen little change in poverty levels, and inequality has either remained fairly constant or risen. International institutions may be one way to address these concerns. A more constructivist account of the globalization process would focus on the way ideas and norms about the global community and modernity shape state behavior. Britain could no longer force countries, including the United States and Germany, to follow its preferred practices, such as joining the sterling system or opening their markets to international trade. How governments shape the globalization process in their countries seems to be important in influencing the way globalization affects poverty and inequality. Baltimore: Johns Hopkins University Press. The question of who is being integrated is also left open, although in political science it is mostly the countries themselves that are at issue. It is important to note that technological change is not just about the economy; such changes have major ramifications for society, culture, and the polity. State Capacity to Govern and International Cooperation. In the British case, imperialism combined with open markets and the dominant role of the pound helped it induce others open their markets and join the international trading and financial system. But if they take decision-making power away from governments, they may undermine democracy at home and the public’s faith in it. Full Bio. They have all contributed to globalization by reducing the cost of transportation and communication among individuals across the globe. How to manage it in order to make states, peoples, or the world better off is thus of central importance. This suggests that countries will have quite different experiences with globalization. The Economic Impact on Developed Nations . More recently, pressure for democratization has also come from these institutions. In this view of coercive hegemony, first the UK and then the United States gained much from their exalted position at the center of the global system; ironically, however, in both cases their decline seems to be connected to their leadership role. World Bank data suggest that from the early 1980s to roughly 2005, poverty declined globally. The impact of financial crises and their diffusion in a global system are also concerns with regard to poverty and inequality. Hence, more consideration needs to be given to the forms of governance required to shape a more health-oriented globalization process. Globalizing capital. Its impact is profound. According to Hansler et al. Surprisingly, political and social globalization dominate the influence of the economic dimension. This view of globalization appears not only in the writings of those who are optimistic about the effects of these developments on societal well-being, like (2008). The disappearance of many languages and the increasing use of English are two such examples. Other examples are the decisions by many countries to create independent central banks and to allow their currencies to float. Preexisting domestic institutions and practices then govern whether and how globalization affects internal politics. Globalization may reduce tendencies toward conflict by making it costlier since countries will have to break their economic ties if they fight; or it may induce conflict as they have more and more linkages that can lead to disputes. With a global economy where capital can move relatively freely, it becomes advantaged domestically. The development of nuclear weapons is a case in point. We may now be experiencing the height of this period of globalization. Globalization affects the political stage by moving away from a national, territorial system and towards a unilateral integrated system. Two versions of this theory exist. (2009). Is it through coercion or inducement by a powerful country, such as the United States, that others espouse these ideas? For instance, English is spoken much more in most countries today than 30 years ago, but the penetration of English varies greatly from country to country. 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