globalization

globalization The growing interconnectedness between political, social, and economic systems beyond national or regional borders. The international regulation of politics, and the global conduct of commerce and finance, is as old as the establishment of individual states as such. What was new towards the end of the twentieth century were: (1) the accelerating pace of communication through the worldwide web and satellite systems.(2) the spread of more global cultures of consumerism and popular culture;(3) the internationalization of domestic problems, e.g. through migration and social movements;(4) the apparent victory of capitalism after 1989, as a result of which the world (exceptions like North Korea notwithstanding) was organized according to similar principles of political economy; (5) aculture of dramatic innovation and fluctuation at the workplace, which caused a great sense of dislocation as jobs and social systems were no longer secure.

Globalization has worked in complex ways. Instead of signalling a victory of cosmopolitan internationalism, it promoted local identities and nationalist movements, which provided comforting, traditional contexts in a world of rapid change. Globalization accounted for the international repercussions of national crises as diverse as the Asian economic crisis of 1997, the Bosnian Civil War, or the War on Terrorism. And yet, in each case only national actors proved effective enough at overcoming these challenges. Conversely, the importance of national actors has transformed, but not replaced, the role of international actors, notably the UN, whose position as an independent arbiter in international and domestic conflicts has become more important than ever.

Despite the opportunities offered by globalization, it has had very ambiguous results. The diminution of national barriers has led to an absolute improvement in the situation of many countries. However, it has also led to dramatic economies of scale amongst the wealthier nations, which have benefited both from the comparative advantages of their economies, and from the fact that the global economic system was most conducive to their economic systems. The USA has been the principal beneficiary of the globalization of its economic and political models. Western Europe, and its response to globalization in form of the EU, has benefited greatly also. Parts of Asia such as the South-East have also gained, as they were able to adapt to capitalism and the communications revolution towards the end of the twentieth century. On the whole, and with huge variations, Latin American countries neither gained nor lost particularly from the accelerated pace of globalization. By contrast, Africa suffered dramatically since its component states acquired independence from the late 1950s. With the possible exception of South Africa and Egypt, it was completely left behind by the advent of a global economy, with many of its domestic conflicts fuelled by international companies. Its population suffered disproportionately from diseases such as AIDS, while a disproportionate number of people remained uneducated and undernourished. Despite initiatives such as the HIPC, overall most of Africa suffered rather than benefited from globalization.