What are the Fundamental Pillars of Contemporary Globalization?

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.

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

Regional Trade and Development Strategies in the Era of Globalization, 2020

The chapter focuses on contemporary globalization and emerging regional cooperation initiatives in the context of economic development. The authors analyze the trends of the current globalization (new protectionism) and conflicts/contradictions between various forces involved in global economic integration. The chapter also investigates the trends, status, issues, and impacts of the de-linking project of the South initiatives (which can be seen in the forms of various regional blocks). It also provides a comprehensive treatment of the subject and recommends new perspectives on the potential developmental effects of regional cooperation and the implications of regional integration for global economic development.

Globalization is support by integration. Both represent the progressive connection and the interaction for the development of the human societies. The European Union represents a symbol of globalization, in order to realise the transition to a " United States of Europe " in which the fundamental stick is the prosperity based on market economy. The paper deals with the most urgent and important problems of the world under globalization. The next part of the paper analyses the conceptual limits of the globalization. Globalization represents a step of the general process of the human socioeconomic and cultural development. Nowadays, globalization has to face with new challenges. An important actor in globalization process is world trade. We consider that only the world trade isn't able to resolve the challenges of the globalization. We concluded that globalization generates economic growth but it generates a status quo too. The poverty is not a result of an excessive globalization. It is a result of an insufficient globalization. The end of the 20 th century and the beginning of the 21 st century are marked by two complex and dynamic processes: globalization and integration. These processes argue the interdependence and the progressive connection in order to develop human society. This tendency is obvious in economic and politic climates, because economy and policy are able to allow the actions of a lot of actors; their effects are easy to see and to calculate in ordinary lifetime [1]. As a result, globalization represents the modality or the system of response and long term approach of the great contemporary problems which are determined by a lot of interconnected economic, ethnic, politic, social and cultural phenomena and processes. The solutions for these processes have to be found by the international community [2]. Globalization is able to dissolve the traditional economic, politic and social connections based on hierarchic public authority and to replace them with a horizontal structure, which is a flexible network leaded by a supranational power.

International Journal of Humanities and Innovation (IJHI)

Globalization is a wide-ranging universal influence on humanity’s existence, experience, and intercourse, as it is tending towards reducing the world into a singularized society. In the presence of this omnipresent phenomenon, the physical barriers between nations are illusive because communicative technologies which are the driving force of globalization know no physical barriers. It enables trans-border interactions in whatever aspect of the lives of nations possible in real time. The questions that are often raised when discourse on globalization feature at the local and international scene are: what is the nature and essence of globalization? Is the phenomenon of globalization establishing symbiotic political and economic relationships between nations? Or is the globalization a neocolonialism and western imperialism and hegemony? Is globalization not creating a new form of imbalanced dependencies between “the haves and the have not”? There are two contrary views regarding the si...

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.

International Journal of Research in Arts and Social Sciences, 2009

Commentators on contemporary issues are divided on the meaning and impact of globalization, which is the process of integrating the world community into a common system either economical or social. Globalization is a hot topic for many of people, especially educated professionals whose work focuses on global thinking and interaction. This is made possible through the increasing linkages among countries and the resultant direct investments, technological development and advancement in telecommunication which have increased global welfare and transformed the world into a global village. Consequently, more and more people are taking an increasingly critical view of this worldwide phenomenon called "globalization; not that they are against constructive cooperation among sovereign nations of the world on common goals but rather they reject its present model. This paper therefore offers a critical commentary on the state of this worldwide phenomenon in its various dimensions. Backed by data, it posits that globalization because of the monstrous proportion it has assumed in the world, is more favourable to the developed nations of the world, and a threat to less developed nations. Ways by which this phenomenon can be made more equitable are also suggested.