LECTURE 1FINAL.docx - Globalisation Globalization is...

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Globalisation Globalization is important because it has framed the structures of the international system i.e. Many of the rules and processes related to trade, money, technology, and security reflect this popular concept. Globalization has brought about a significant change in the way many experts and officials think about the international systems including politics and economy. It has both strengthened and weakened the power of many institutions and actors along the way. Globalization and its causes and effects on states and international cooperation and institutions has become a defining feature of international relations. The economic challenges of both the end of the Cold War and globalization have underlined the centrality of IPE in the study of international relations. What is globalisation? It is one of the most commonly used terms in contemporary debates on global issues, yet few are able to provide a concise definition. In fact, many different definitions exist. At the heart of the concept is the notion that the world is ‘shrinking’ in the sense that it is growing together more and more as a consequence of an increasingly dense network of interactions. Globalisation is the ongoing process of global economic, political and social integration. The term “globalization” began appearing in the IPE lexicon in the mid-1980s to describe the growing interdependence (interconnections) among people and states all over the world that resulted from the digital revolution and the spread of Western (U.S.) culture. Globalization also accounted for more trade and financial exchanges with other countries relative to a nation’s gross domestic product (GDP). Beginning in the 1990s, the world seemed to be going through a major transformation that involved intense connections between states and their societies. increasing cross-border interactions where economic actors are treating the whole globe as the relevant unit for securing inputs, processing them, manufacturing, as well as selling the final product. marked by trade booms, mass migrations, and huge capital flows Globalization can usefully be conceived as a process (or set of processes) which embodies a transformation in the spatial organization of social relations and transactions, generating transcontinental or interregional flows and networks of activity, interaction and power. Globalization is a transplanetary process or set of processes involving increasing liquidity and the growing multidirectional flows of people, objects, places, and information as well as the structures they encounter and create that are barriers to, or expedite, those flows. Waters (2001: 4) mentions definitions of globalization made by Robertson and Giddens. For Robertson (1992: 8) Globalization as a concept refers both to the compression of the world and the intensification of the consciousness of the world as a whole … both concrete global interdependence and consciousness of the global whole. Here the compression of space is mentioned. Things which are at a distance as
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