Globalization and Globalism

I. Introduction

Globalization and globalism are two highly discussed topics in the current world,

the impact on the world economy, and how it has affected both developing and

developed countries. It will explore the idea of globalization and globalism, the

impacts of globalization and globalism on society, the contrast between

globalization and globalism, and the different distinct dimensions of globalism. It will

analyze how globalism has shaped economic inequality, and poverty, and evaluate

the potential of globalism to contribute to a more equitable and sustainable

economic system. This paper will draw on a range of academic sources, including

economic models and theories, to identify the implications of globalization and

globalism for the current international economic order. Finally, it will provide a

conclusion that suggests potential strategies to address the issues and challenges of

globalization and globalism.

II. Discussion of the topic

Nye (2002) proposed that globalization should be seen as the "rise or decline in

the degree of globalism," rather than simply an interconnectedness of people,

places, and nations. This definition provides a more nuanced understanding of the

concept, as it takes into account the changing nature of the global system.

According to Fawcett (2005, p. 2). "Globalism is the most prominent new idea in

international relations today. It is based on the idea that nation-states, markets, and

civil society increasingly interact and cooperate on a global level, rather than in

distinct national settings". The traditional model of nation-states operating in

isolation from one another is becoming a relic of the past in the era of globalization.

Nations, markets, and societies are now interacting more frequently and more

deeply, thus creating a globalized system of interdependence. This shift has

significant implications for international relations and the global economy. As a

result of this phenomenon, a global economy, culture, and challenges such as

climate change, pandemics, and international conflict have emerged, facilitated by

the flow of products, services, ideas, and people across national borders.

In contrast, globalization is the process of people, corporations, and countries

around the world becoming more interconnected and dependent on one another.

Transport, communication, and technological improvements have made moving

goods, services, and information easier and less expensive across international

borders. With the cross-border diffusion of ideas, knowledge, and technology,

globalization has also had a significant impact on culture and society. A worldwide

cultural industry that includes movies, music, fashion, and other aspects of popular

culture has grown as a result of the easier flow of values and culture. However,

globalization is not without its challenges and criticisms. Critics argue that it can lead

to job losses in developed countries as companies move production to lower-cost

countries and that it can exacerbate economic inequality by benefiting the wealthy

at the expense of the poor. Additionally, there are concerns about the impact of

globalization on the environment, as increased trade and transportation can lead to

higher levels of pollution and carbon emissions.

If we are to make a stark contrast between globalism and globalization by saying

that globalization means connectedness while globalism is not, it will lead to

confusion that the present is the only time in which people got connected while in

the past they were not. But even before the Industrial Revolution, the world was
already connected. Through the conquest of different empires, such as those of the

Romans, many parts of the world became under one rule.

Additionally, according to Nye (2002), globalism and globalization can be

distinguished based on the "thickness" of each. Globalization is thin. As it becomes

thicker, globalization happens. Therefore, globalization is the ability to connect

nations around the world more rapidly and dynamically. Take global trade as an

example. The Silk Road once served as a trade and cultural exchange route between

ancient Europe and Asia. Also, people's trades allowed for cross-cultural

engagement. A comparatively limited number of people, especially those who were

traveling and doing the trades, felt them, though. In comparison, "globalism

becomes increasingly thick" in the modern world, but the links were neither intense

nor "thick" (Nye, 2002).

This is where globalization comes in. Global trade is now more easily accessible

and interconnected than ever before, enabling instantaneous transactions between

individuals anywhere in the world. According to World Trade Organization (2020),

The growth of global trade has been driven by the liberalization of trade policies, the

reduction of trade barriers, and the development of technology and digital

infrastructure. The WTO estimates that global trade today is nearly five times

greater than it was in 1995, with over 60 percent of global trade now taking place

between developing countries. In the past, traders would travel the Silk Road for

weeks or months to China in order to sell their wares. Global trade is now easier to

access than ever thanks to the internet and online transactions, which have

connected millions of people and allowed them to buy, sell, and exchange goods and

services with people who live thousands of miles away.

 Globalism has four distinct dimensions, according to Nye (2002): economic,

military, environmental, and social. The first dimension is the Globalization of the

economy. It involves the knowledge and perceptions that go along with market

transactions as well as long-distance transfers of capital, goods, and services. The

second dimension is Environmentalism. In the context of human health and well-

being, it refers to the long-distance transportation of compounds found in the

atmosphere, the oceans, or biological substances like infections or genetic material.

The third dimension is Military globalism. Long-distance networks where force, the

fear of force, or the promise of force are used are referred to by this phrase. Lastly,

the fourth dimension is the Globalization of society and culture. It involves the

movement of concepts, data, images, and people—who, of course, bring concepts

and data with them.

III. Recommendation and Analysis

Analysis

Globalization and globalism made a powerful impact on society which helped

people. however, despite all those benefits and positive impacts, there are adverse

effects that can be argued. This section of the paper identifies the challenges faced

by globalization and globalism.

Globalization has brought us new issues and challenges. One of these is a rise in

economic inequality, as those who can benefit from the opportunities brought up by

globalization are frequently the richest and most connected. As a result, there are

now "winners" and "losers" on a global scale, with certain nations and people

benefiting more than others. Additionally, globalization has raised the danger of

financial crises and economic downturns, as global economic systems are more
integrated, and hence more subject to shocks. Global economic and political

instability has increased as a result of the concentration of economic and political

power in the hands of a few nations and corporations.

Globalism has also resulted in new issues and challenges. The increased

economic integration and interdependence that comes with globalism have led to

the emergence of powerful transnational corporations, which have been able to

influence both economic and political decisions. Furthermore, globalism has resulted

in the erosion of national sovereignty, as decisions are increasingly made at the

global level rather than at the national level. Additionally, the increased movement

of people and goods has resulted in increased environmental degradation, as

environmental regulations are often neglected in favor of economic growth. Finally,

globalism has led to increased vulnerability to security threats, as global networks

are more difficult to secure.

Globalization and globalism are complex processes that have had a variety of

impacts on society. While these processes have brought many benefits, such as

increased economic growth and cultural diversity, they have also created new issues

and challenges. These include increased economic inequality, the emergence of

powerful transnational corporations, the erosion of national sovereignty, and

increased environmental degradation. In order to ensure that the benefits of

globalization and globalism outweigh the costs, it is important to address these

issues and challenges in a thoughtful and responsible manner.

Recommendation

While globalization and globalism have had a number of benefits, including

increased economic growth and improved access to technology, they have also
 raised a number of issues, such as inequality, environmental degradation, and the

potential for exploitation of poorer countries. In this paper, we examine potential

solutions to some of the issues raised by globalization and globalism.

IV. References

Nye, J. (2002). Globalism Versus Globalization. The Globalist. Retrieved from

https://www.egr.msu.edu/aesc210/topics/resources/Globalism%20Versus

%20Globalization.pdf. May 16, 2017.

Hasa. (2021, May 2). What is the Difference Between Globalism and Globalization.

Retrieved from https://pediaa.com/what-is-the-difference-between-globalism-

andglobalization/#:~:text=Globalism%20and%20Globalization,Definition,information

%2C%20and%20jobs%20across%20nations.

Fernando, J. (2022, June 29). Globalization in Business With History and Pros and

Cons. Investopedia. Retrieved from

https://www.investopedia.com/terms/g/globalization

.asp