Essay On 21st Century Globalization

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Essay for Master of Global Studies:
How does 21st century globalization differ from 20th century globalization?
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well- being in societies around the world. The purpose of this essay is not to analyze any of these specific dimensions during the globalization shift from the 20th to 21st centuries. This essay, instead, focuses on how the interconnectedness of these dimensions drives the worldwide effects between the 20th and 21st centuries.
Globalization is a long historical process divided into many stages with different features. Since the end of the Second World War in 1945, the international order has been mainly formed and managed by the US and a number of European states. A typical embodiment of the US-led order is the establishment of international institutions and forums including the United Nations, the IMF, the World Bank, the WTO... These entities orient and supervise the process of globalization including
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In addition to Chinese factors, the fastest growth rate and the trend of regional multilateralization are turning Asia-pacific into the center of globalization in the 21st century. The establishment and activities of the Asia Pacific Economic Cooperation (APEC), the ASEAN regional forum (ARF), the Asia-Europe Meeting (ASEM), the East Asian Summit (EAS), the potential US-led Trans-Pacific Partnership agreements (TPP) and many other regional multilateral mechanisms have contributed to setting the framework for economic cooperation and security in Asia-pacific. These organizations not only
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