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‘Globalist’ Theories of Economic Change

Introduction

Globalization influence economic system of the world and stipulates economic and trade relations between countries. From globalists’ positive perspective, globalization improves conditions of life, facilitates trade relations and cooperation. Globalization allows greater choice of consume products, better quality and technology transfer. For the third world countries, positive effects of globalization involve free trade and integrated economic relations, low barriers to trade and cultural communication, political unity and easy travel, technology transfer and labor turnover. Governments take measures to make their economies more or less attractive to global investors. In addition, nation-states have retained control over education, infrastructure, and, most importantly, population movements. Indeed, immigration control, together with population registration and monitoring, has often been cited as the most notable exception to the general trend towards global integration (Yip, 2004).

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Main body

Pessimists state that globalization permits economic exploitation of weak and less developed countries. Globalization contributes to inequalities because economic processes lie at the core of globalization. Others privilege political, cultural, or ideological aspects. Still others point to environmental processes as the essence of globalization. Like the blind men in the parable, each globalization researcher is partly right by correctly identifying one important dimension of the phenomenon in question. However, their collective mistake lies in their dogmatic attempts to reduce such a complex phenomenon as globalization to a single domain that corresponds to their own expertise.

Internationalists suppose that globalization will lead to global governance and dominance of the developed nations. It will establish the global capitalist order and strict control over the global financial and other resources. Such organizations as APEC, NAFTA, ASEAN are examples of this control. Consequently a much more active approach is required to reach new groups of urban and, occasionally, international buyers in the third world countries. After all, economic forms of interdependence are set into motion by political decisions, but these decisions are nonetheless made in particular economic contexts. The economic and political aspects of globalization are profoundly interconnected. There is no question that recent economic developments such as trade liberalization and deregulation have significantly constrained the set of political options open to states, particularly in the global South (Yip, 2004).

Transformationalists state that globalization is not inevitable or irrevocable. The national governments should regulate and control trade relations and protect their nations from exploitation of Multinational and Transnational corporations. This brief historical sketch identifies five distinct historical periods that are separated from each other by significant accelerations in the pace of social exchanges as well as a widening of their geographical scope. In this context, it is important to bear in mind that my chronology does not necessarily imply a linear unfolding of history, nor does it advocate a conventional Eurocentric perspective of world history. Still others argue that globalization really represents the continuation and extension of complex processes that began with the emergence of modernity and the capitalist world system some five centuries ago. And a few remaining researchers refuse to confine globalization to time periods measured in mere decades or centuries (Held, 2004).

In sum, globalization changes economic relations between nations and opens new opportunities for international companies to sell their products. Positive globalists and internationalists support economic globalization while pessimists and transformationalists underline its negative and even dangerous impact on local economies. For the third world countries globalization brings both opportunities and threats to modern countries caused by their economic and political stage of development. Te emerging structure of global governance is also shaped by ‘global civil society’, a realm populated by thousands of voluntary, non-governmental associations of worldwide reach. In the third world countries, the innovation adoption process is in this case characterized by the introduction of new designs and gradual upgrading of equipment allowing step-by-step improvement of the quality of output.

Bibliography

Held, D., (ed.), 2004, A Globalizing World? Culture, Economics, Politics. Routledge – Open University.

Yip, George S. 2004, Total Global Strategy – Managing for Wordwide Competitive Advantage. Prentice Hall, New Jersey.

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StudyCorgi. (2021, October 24). ‘Globalist’ Theories of Economic Change. Retrieved from https://studycorgi.com/globalist-theories-of-economic-change/

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StudyCorgi. (2021, October 24). ‘Globalist’ Theories of Economic Change. https://studycorgi.com/globalist-theories-of-economic-change/

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"‘Globalist’ Theories of Economic Change." StudyCorgi, 24 Oct. 2021, studycorgi.com/globalist-theories-of-economic-change/.

1. StudyCorgi. "‘Globalist’ Theories of Economic Change." October 24, 2021. https://studycorgi.com/globalist-theories-of-economic-change/.


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StudyCorgi. "‘Globalist’ Theories of Economic Change." October 24, 2021. https://studycorgi.com/globalist-theories-of-economic-change/.

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StudyCorgi. 2021. "‘Globalist’ Theories of Economic Change." October 24, 2021. https://studycorgi.com/globalist-theories-of-economic-change/.

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StudyCorgi. (2021) '‘Globalist’ Theories of Economic Change'. 24 October.

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