Global Economics: Is Globalization Ending?

Is globalization ending?

The Cambridge Dictionary defines globalization as «the process by which particular goods and services, or social and cultural influences, gradually become similar in all parts of the world». One of the key processes in the development of the global economy at the turn of the XX-XXI centuries is the progressive globalization. Globalization is an inevitable phenomenon in the history of human-being , that the world, as a result of the exchange of goods and products, information, knowledge and cultural values, becomes more interconnected. However, over the past decades, the pace of this global integration has become much higher and more impressive thanks to unprecedented achievements in such areas as technology, communications,

However, developing countries have largely fallen outside this integration wave, because they could only trade the main types of raw materials. After the Second World War, globalization resumed at an accelerated pace. It was promoted by improvements in technology that led to rapid sea, rail and air transportation, as well as the availability of international telephone communications. Elimination of barriers to international trade since 1947 dealt with the General Agreement on Tariffs and Trade (GATT) - a series of agreements between the major capitalist and developing countries. The very first and immediate result of the beginning of globalization is increase in international competition. This corresponds to the generally accepted views of economists of various directions, and this can be cited by many examples from economic history, from antiquity to modernity. Thus, in the era of modern globalization, under the influence of competition from Chinese imports in recent decades, in the United States, Western and Eastern Europe, Russia, the own production of many goods (shoes, clothing, consumer electronics, etc.), superseded by Chinese goods,

The first one is migration. Sara M. Hamilton in her book wrote that “migration, just like the free flow of goods and ideas across borders, is an important part of globalization”. The main reason that drove and continues to drive today millions of people of Africa, Latin America and Asia in the more prosperous countries of North America, Europe and Russia, is a disorder of their lives and the desire to secure a dignified existence, which they do not have at home. Secondly, the activation of the anti-globalization movement, which includes anarchist, radical-ecological and other organizations, i.e. activation of the left radicals will occur, which will lead to destabilization of international organizations, breaking security systems of military departments, intelligence services and large banks, etc. As stated in “Why Globalization Works” by Martin Wolf “the anti-globalization movement is anti-liberty like communism and national socialism”. Also, globalization will lead to the death of the nation-state, to the creation of a single world government. Perhaps most of all, due to globalization, it is concerned that it widens the gap between the rich and the poor. Despite the undoubted growth of prosperity in the world, wealth is concentrated in the hands of a few people and