Hyper-Globalisation and It's Political Relevance

Globalisation is expressed in transcontinental flows and networks of activity, interaction and power between countries, irrespective of geographic distance. It establishes and maintains economic, political and socio-cultural relations. This interaction helps economies through growth in international trade, investment and capital flows. Some factors that have acted as the driving force of globalisation include technological innovation as it had made transport and communication around the world easier, capitalism and trade have also played an important role in encouraging globalisation. Trade

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Globalisation highlights the dramatic alterations in the landscape of international relations due to the emergence of free market economies based on the right to start a business and trade without restrictions. In other words, it’s the processual approach of assisting financial and investment markets to function together worldwide. This has been largely made possible from the deregulation and improved communications, particularly the evolution of the internet. It can be said that globalisation is a transition of shifting to an integrated world; comprising of the long-term modifications in the aim to achieve a ‘greater international cooperation in economics, politics, ideas, cultural values, and the exchange of knowledge’ (Gibson

A process known as globalisation links different countries around the world together through different ways such as trade, investment, migration, internet, social media etc. Global trading is a major aspect of globalisation where different countries import and export goods and services with other countries. Globalisation has significantly changed over the past 30 years. Economies of scale has led to an increase in the production of goods, thus, created the need for expansion of markets beyond domestic boundaries. In addition to merchandise, various types of services are rendered to customers globally. This includes IT support, tourism, financial services etc. Globalisation has led to an upsurge in trade, multinational corporations, greater dependence on global economy, and easier movement of capital, goods and services and

Today globalization is essentially a synonym for global business. Globalization is changing the world we live in at a very increasingly rapid pace (Rodrik., 1997). Changes in technology, communication, and transportation are opening up borders and markets at increasing rates. In any large city in any country, Japanese cars ply the streets, a mobile call can be enough to buy equities from a stock exchange half a world away, local businesses could not function without U.S. computers, and foreign multinationals have taken over large segments of service industries. Impact of Globalisation, both theoretically and practically, can be observed in different economic, social, cultural, political, financial, and

The world today is continually becoming more and more advanced through the development of new technology and scientific data. This incremental process has sped up dramatically in the last two decades as technological advances make it easier for people to travel, communicate, and do business internationally. Thus, Europe has been a leader in this advancement and has contributed greatly to the process the world calls globalization. “Globalization is an objective, empirical process of increasing economic and political connectivity, a subjective process unfolding in consciousness as the collective awareness of growing global interconnectedness, and a shot of specific globalizing project that seek to shape global conditions.” Europe has

The world is not a large and strange place anymore. The world is a place that is interconnected and intertwined. The world has become from a place that each country and their peoples are separate and isolated to a place that each country and their peoples are part of a global network. Thanks to globalization this is occurring. Globalization is the ‘international integration” or ‘de-bordering’ – “a number of highly disparate observations whose regular common denominator is the determination of a profound transformation of the traditional nation-state” (Von Bogdandy 2). Globalization is connecting different people from different cultures and backgrounds together. More and more corporations are entering new foreign markets to sell their

‘Globalization: What’s new? What’s not? (And so what)’, portrays the speed in which globalism has increased through many different factors; economically, military, environmentally and socially. This is an idealist analytic approach, not set in stone. This leads on to

In our modern society the distance between individual nations is becoming smaller and gradually less important. As international trade and investment grow, the economies of these nations are becoming more integrated. This phenomenon has been labelled as globalisation. On the surface, globalisation seems like the most favourable path for the evolution of society, yet it can be argued that eventually the economy will be controlled by a few major organisations, remaining more powerful than any government or the vote of general public.

Globalisation can be defined as the movement toward economic, financial, trade, and communications integration by countries and their populations globally. It is a constant process and it has resulted in the intertwining and generalisation of the needs and wants of people

Economic Globalization is the ever increasing movement of capital investment around the globe, fueled by the increase in cross boarder relationships and the explosion of the internet and other communications services. Anthony Giddens one of the key thinkers that influenced Tony Blair in his time in parliament, described the process of Globalization as being ‘the intensification of worldwide social relations which link distant localities in such a way that local happenings shaped by events occurring many miles away and vice versa’ (Giddens 2013). Giddens and Blair were both strong advocates in the advantages of Globalization and alongside the prosperity it can bring to both developed and developing nations.

Global Integration “Global integration is shrinking time, shrinking space and eroding national boundaries.” (IMF & World Bank) Globalisation possibly the most important force at work at this time in history describes the process of increase integration and interdependence between national economies. It depicts the breaking down of national boundaries leading to the establishment of a single world market. This inevitable process of globalisation has and will continue to be accelerated by the electronic revolution. Advancement in telecommunications and information technology has lead to growth in cross border relationships initiated by the drivers of globalisation.

The concept of globalization is a complex and peculiar one, failing to be definable by a single, precise definition. Centrally, globalization involves information and goods being exchanged amongst different countries. These interactions and interchanges among countries globally over time is due to an increase in communication and transport networks. Globalization is often divided into three main areas being economic globalization, cultural globalization and political globalization. All three are vital areas to one’s life and globalization is said to have a large impact on each. Although globalization is controversial in the aspect that it cannot be declared just how much of an influence the notion has in the world. Political scientists such as Muhammad Ijaz Latif, Anton Pelinka and Martin Wolf all discuss this issue in their respective pieces as well as differing aspects of globalization such as the role the European Union plays in relation to globalization, the different perspectives of globalization and the challenges of the nation-state in regards to globalization.

There has been an accompanying integration and fusion of national markets, in part through free trade zones such as NAFTA, and often reflected in the escalation of foreign direct investment, including in the less developed world. Reference should also be made to 'cross-border connectivity' - in other words, the development of new information technologies, and the accompanying new ways of buying and selling goods and services. b) Explain the factors that have led to the process of increased globalisation in recent years (40 marks)

The theory of globalization today is a field of intensive debate as the efforts towards defining globalization most often highlight its individual aspects. According to Held and McGrew (1999), “globalisation is an idea whose time has come, yet it lacks precise definition”. Despite the ambiguity of the term “globalisation,” the use of the term, according to Held and McGrew, reflects increased interconnectedness in political, economic and cultural matters across the world creating a shared social space. Given this inter-connectedness, globalisation may be defined as: “a process which embodies a transformation in the spatial organisation of social relations and