Dimensions of Globalization

Reading Material: An Introduction to Global Studies, Patricia Campbell et al.

Chapter 1, pages: 10-20
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 Dimensions of Globalization

❑ Economics
• The rise of global monetary organizations/institutions like World Trade
Organization (WTO), International Monetary Fund (IMF), World Bank- preaches
the economic globalization.
• Concept of ‘Free Trade’
• Free trade has become one of the most common economic buzzwords
associated with economic globalization.
• Proponents argue: eliminating trade barriers increases global wealth,
consumer choice, and international security and peace.
• Critics argue: Free trade let the developed nations exploit the developing
ones by destroying local industry.
❑ Politics
• The concept of nation-state and that it is breaking apart due to
multiculturalism, migration, regional integrity and increase in international
cooperation amongst nations.
• Nation-State: States formed involving the population of only one nation.
• Global governance and global cities like: Beijing, New York, London, Seoul
etc. have more interest and connections with other global cities, than their
own local cities.
• International organizations like UN, WTO spread decision making
among member-nations, and challenge decisions of local
governments made by nation-states.
• Supranational organizations like European Union, SAARC, African
Union, ASEAN, Arab Union often have more voice than any singular
nation-state or a local government.
❑ Culture
• What is Culture?
• What you do and how you do – is your culture!
• The cultural homogeneity increased with the collapse of Soviet Union, and
the USA becoming sole superpower, the American ability to purvey its
products, images, ideas, and values around the world increased.
• Technology helped in the rapid circulation of culture around the globe, like
the companies, values, and ideas that circle around the globe on these fast
networks are largely Western and often American
(Westernization/Americanization).
• Some critics of cultural globalization describe Western culture as a
homogenizing force that is erasing local cultures, replacing cultural
differences with a single world culture based on American values.
• However, British economist Philippe Legrain points out, “You can
choose to drink Coke and eat at McDonald’s without becoming
American in any meaningful sense’’.
•Hence, some see cultural globalization as a threat to the local
culture, others view it as a way of resurgence to the local culture.
• Cultural fusion is also not one-directional, America also sees
various cuisines like Italian, Indian, Thai in their country, and also
people are free to choose what they accept.

• Cultural, political, and economic globalizing forces are connected.

Together they affect and are affected by the actions of individuals,
organizations, and governments, and these effects are distributed
across the globe.
https://www.youtube.com/watch?v=U1Fg2G_UDJM&ab_channel=MarionMacuha
(Dimensions of Globalization)

Do you love or hate Globalization?