Different perspectives on the theory of globalization

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Globalization is a theory that explains increasing world interdependence through political, economic, cultural and technological processes through an increase in interactions across state borders. International cooperation is a concept that explains how states collectively cooperate to work on common goals and interests. Global Governance is a movement towards states agreeing to work towards a response to issues that affect more than one nation on a worldwide scale. Liberalization is a process of lifting constraints or regulations imposed by nations on economic drivers such as trade. Transnational is the concept that political, economic, and cultural processes that extend into more that one nation-state. Global inequalities refers to the extent that the economic benefits of globalization are distributed unequally between countries.

Globalization has been perceived as a multifaceted concept that encompasses many ideas that can be difficult to define. Presently globalization is defined as a theory that highlights the rise of global integration through political cooperation, technological advancements in communications, economic/investment…. and cultural integration through migratory movements that expand beyond national borders. Despite the apparent challenges in finding a one size fits all definition for globalization, it is essential to consider a variety of viewpoints.

Defining two perspectives of globalization

The first perspective defines globalization as an increase in nations coming together to find a solution to critical issues, such as climate change or human rights. This perspective entails greater cooperation between states through entities such as global governing bodies. The most recognizable of which is the United Nations to tackle issues that exceed the capacity of any one country to resolve on its own. It encompasses nations working together to form norms and policies that benefit all inhabitants of the world while seeking to limit the unequal distribution of economic resources between countries.

The second definition defines globalization as the acceleration of commercial activity across national political boundaries by the increase of immigration, technological advancements, globalized production lines and the movement of goods and services across the planet. The global race to increase market diversification is characterized by the economic interdependence between states whereby national wealth creation increasingly depends on financial institutions in other countries.

Key distinctions between the two viewpoints

The globalization of the world economy has advanced steadily since the end of the Second World War and the end of Communism, which has translated into fewer constraints to international market development and trade (Naaz 10). The first viewpoint intends to support the advancement of less

developed countries and increase interaction through the growth of international trade and governance to the benefit of all economic regions — to improve transnational trade and governance. In the beginning, One key issue with the fist definition of globalization is that it creates inequalities and interference by more developed countries with larger economies.

The second definition of globalization stands in contrast to the first definition of globalization as it implies no purposeful plan to address global inequalities. Quite the opposite, its purpose is the continued drive to increase excessive consumption and commercialization by capitalist nations with little regard to the impacts of this policy on underdeveloped countries, culture or the environment. Another key difference with the second viewpoint is how transnational companies are moving their production lines, products and establishing satellite offices in different locations in the world in search of cheaper raw materials and labour while circumventing local environmental and consumer laws.

The significance of applying different perspectives in the study of globalization

The many definitions require constant study to redefine globalization as a concept and to accurately study the implications on the world we inhabit. Both governments and international corporations can benefit from a greater understanding of the many perspectives of globalization in creating policies and norms that seek to maintain economic development. It is essential to continue to take into consideration the many angles in perspectives to understand how globalization as an idea has created the world we live in today and may impact where international relations head in the future. A greater understanding of all different perspectives allows a more informed study towards achieving greater global equality/balance and stability.

Implications

It is essential to understand these diverse perspectives of globalization to have a better understanding of the benefits and negative impacts that derive from it. The world continues to change, and while globalization has had brought positive changes, especially to the global north, it has also had a negative effect. For example, globalization has played a crucial role in creating excessive competition, and a primary focus on consumption and profits by commercial institutions has destroyed and categorized society. High levels of unemployment have adverse effects on human health, well being, and quality of life that create civil unrest. Besides, the depletion of resources such as oil, gas and precious metals across the globe has put nation states, as well as international businesses, in opposition to environmental groups. There is an understanding that there is a problem with economic dependency yet no agreement on the solution.

Conclusion

The debate surrounding globalization and the study of its various perspectives will continue into the foreseeable future. The multiple aspects of globalization and the fact that it remains a difficult concept to define implies that it means numerous things depending on the region or society. Nonetheless, continuing to search for a definition helps to re-focus efforts to redefine outdated policies to form responses that are more inclusive and informed when addressing issues of global importance.

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