Assignment

Topic: Globalization and the global future

Class: BSCS-5th
Date: 31-january-2021
Subject: international relation
Submitted to: Prof: Jam Javeid Iqbal
Submitted by: Syeda Shajiah Zahra Zaidi
Qno1: Explain the globalization and the global future?
Definition:
“Globalization is the process of interaction and integration among people, companies, and
governments worldwide.”
History:
Though many scholars place the origins of globalization in modern times, others trace its history
to long before the European Age of Discovery and voyages to the New World, and some even to
the third millennium BC. The term globalization first appeared in the early 20th century
(supplanting an earlier French term mondialization), developed its current meaning sometime in
the second half of the 20th century, and came into popular use in the 1990s. Large-scale
globalization began in the 1820s, and in the late 19th century and early 20th century drove a
rapid expansion in the connectivity of the world's economies and cultures.
Explanation:
Globalization has accelerated since the 18th century due to advances
in transportation and communication technology. This increase in global interactions has caused
a growth in international trade and the exchange of ideas and culture. Globalization is primarily
an economic process of interaction and integration that is associated with social and cultural
aspects. However, disputes and diplomacy are also large parts of the history of globalization, and
of modern globalization.
Economic globalization:
Economic globalization is the increasing economic interdependence of national economies
across the world through a rapid increase in cross-border movement of goods, services,
technology, and capital. Whereas the globalization of business is centered around the diminution
of international trade regulations as well as tariffs, taxes, and other impediments that suppresses
global trade, economic globalization is the process of increasing economic integration between
countries, leading to the emergence of a global marketplace or a single world market. Depending
on the paradigm, economic globalization can be viewed as either a positive or a negative
phenomenon. Economic globalization comprises: globalization of production; which refers to the
obtainment of goods and services from a particular source from locations around the globe to
benefit from difference in cost and quality. Likewise, it also comprises globalization of markets;
which is defined as the union of different and separate markets into a massive global
marketplace. Economic globalization also includes competition, technology, and corporations
and industries.
Cultural globalization:
Cultural globalization refers to the transmission of ideas, meanings, and values around the world
in such a way as to extend and intensify social relations.This process is marked by the common
consumption of cultures that have been diffused by the Internet, popular culture media, and
international travel. This has added to processes of commodity exchange and colonization which
have a longer history of carrying cultural meaning around the globe. The circulation of cultures
enables individuals to partake in extended social relations that cross national and regional
borders. The creation and expansion of such social relations is not merely observed on a material
level. Cultural globalization involves the formation of shared norms and knowledge with which
people associate their individual and collective cultural identities. It brings increasing
interconnectedness among different populations and cultures.

Political globalization:
Political globalization refers to the growth of the worldwide political system, both in size and
complexity. That system includes national governments,
their governmental and intergovernmental organizations as well as government-independent
elements of global civil society such as international non-governmental organizations and social
movement organizations. One of the key aspects of the political globalization is the declining
importance of the nation-state and the rise of other actors on the political scene. William R.
Thompson has defined it as "the expansion of a global political system, and its institutions, in
which inter-regional transactions (including, but certainly not limited to trade) are
managed". Political globalization is one of the three main dimensions of globalization commonly
found in academic literature, with the two other being economic globalization and cultural
globalization.
Intergovernmentalism is a term in political science with two meanings. The first refers to a
theory of regional integration originally proposed by Stanley Hoffmann; the second treats states
and the national government as the primary factors for integration. Multi-level governance is an
approach in political science and public administration theory that originated from studies
on European integration. Multi-level governance gives expression to the idea that there are many
interacting authority structures at work in the emergent global political economy. It illuminates
the intimate entanglement between the domestic and international levels of authority.
Some people are citizens of multiple nation-states. Multiple citizenship, also called dual
citizenship or multiple nationality or dual nationality, is a person's citizenship status, in which a
person is concurrently regarded as a citizen of more than one state under the laws of those states.
Increasingly, non-governmental organizations influence public policy across national boundaries,
including humanitarian aid and developmental efforts. Philanthropic organizations with global
missions are also coming to the forefront of humanitarian efforts; charities such as the Bill and
Melinda Gates Foundation, Action, the Acumen Fund (now Acumen) and the Echoing Green
have combined the business model with philanthropy, giving rise to business organizations such
as the Global Philanthropy Group and new associations of philanthropists such as the Global
Philanthropy Forum. The Bill and Melinda Gates Foundation projects include a current
multibillion-dollar commitment to funding immunizations in some of the world's more
impoverished but rapidly growing countries. The Hudson Institute estimates total private
philanthropic flows to developing countries at US$59 billion in 2010.
As a response to globalization, some countries have embraced isolationist policies. For example,
the North Korean government makes it very difficult for foreigners to enter the country and
strictly monitors their activities when they do. Aid workers are subject to considerable scrutiny
and excluded from places and regions the government does not wish them to enter. Citizens
cannot freely leave the country.

Four aspects of Globalization:

In 2000, the International Monetary Fund (IMF) identified four basic aspects of
globalization: trade and transactions, capital and investment movements, migration and
movement of people, and the dissemination of knowledge. Environmental challenges such
as global warming, cross-boundary water and air pollution, and over-fishing have been linked to
globalization. Globalizing processes affect and are affected by business and work organization,
economics, sociocultural resources, and the natural environment. Academic literature commonly
divides globalization into three major areas: economic globalization, cultural globalization,
and political globalization.

The Global future

 Global Future is an independent think tank that believes Britain can only succeed in the
future as a vibrant and open nation reaching out to the world.
 We believe the dynamism of our economy and creativity of our culture depends on our
country remaining open to people, trade and ideas from across the world.
 In the emerging political divide between open and closed visions for the future, we reject
the narrow nationalism of those who want to close us off or who live in the myths of the
past. Instead, we believe that the only way Britain can succeed in the future is as a vibrant
and open nation that reaches out to the world.
 Global Future’s mission is not only to help people appreciate the benefits of openness but
also to understand the genuine issues that stand in the way of realising these benefits for 
 Everyone. We will explore new ways for people to take more control over what matters
most in their lives without cutting themselves off from opportunities to succeed in an
interconnected world.
 We work across society, the arts and in business to make sure Britain’s unique character
as a country of tolerance and diversity is not undermined by the short-term thinking that
threatens to turn us into a narrower and lesser nation. We are active in ensuring that
Britain’s artists and creative industries benefit from open cultural exchange and the free
flow of talent. And we are committed to helping businesses develop the leadership and
culture to help them succeed on the world stage.