Globalization Essay

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The term globalisation is one that is used with ever increasing frequency as if it had a universally accepted meaning and definition. According to Modelski, globalisation is a historical process which is characterised by a growing engagement between peoples on all corners of the globe (Modelski, 2003, pp.55-59). However, as Heywood points out, it can refer to various things such as processes, policies, strategies, an occurrence or an ideology. He suggests, its elusive meaning lays in the fact that it “is not so much an it as a theme” (2007, p.143). The reason for the elusiveness of the term is that, as Heywood pints out, it involves many different facets which many different academics proclaim as its defining features. So, what are these facets of globalisation? Held and McGrew attempt to outline a consensus by suggesting that globalisation involves a time-space compression due to electronic communication, an accelerating interdependence between national economies and societies with those of other states, a shrinking world where borders are less relevant to socio-economic activity and an increasing interconnectedness of cultural, economic and political worlds (2003, pp.3-4). This provides the best summary of what globalisation is and what it involves; however, different perspectives on globalisation view these processes in different ways and provide competing explanations of their significance. The first of these to be outlined is the hyperglobalist perspective (Held et al, 2000). The hyperglobalist perspective is the one that takes the most fervent view of the globalisation process. From this perspective, globalisation defines a new era of history in which the nation-state is becoming increasing irrelevant in a global economy. Adherents to this view see globalisation as “bringing about a denationalisation of economies through the establishment of

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