The Theories Of Globalization

INTRODUCTION

Globalisation is the intense growth of worldwide interconnectedness stretching through cultural, political, economic and social activities across political frontiers that events, decisions and activities in one region of the world come to have significance for individuals and communities in distant regions of the globe (John Baylis, 2014, p. 17).

This essay is set to analyse the theories of globalization, the different types found in the study and practice of international political economy, stating their advantages and disadvantages. It will also use relevant examples of some countries and how globalization may have affected them either positively or negatively.

THEORIES OF GLOBALISATION

There are 3 main theories that contribute

There three main types of globalization in the study of International Political Economy, these are Political, Economic and Social globalization.

Political Globalisation, this is when governmental action takes place on a global level where responsibilities, such as welfare of citizens and economic growth, are acted upon by international body, the UN. In the past, governments typically served the citizens of their own nations, but now the world is much more globally connected, which means politics often take place in a globally connected setting. This is done through intergovernmental agencies such as the EU, IMF, World trade organizations and United Nations (Jacobs, 2015, p. 5).

The advantages to political globalization are that there is access to international aid and support, contributes to world peace and reduces the risk of invasions on countries, also governments can learn from each other on issues pertaining governance (OSLAND, 2002, p. 5) .

The disadvantages of state sovereignty is reduced, coordination is difficult and expensive, also sometimes countries can veto decisions and slow down making processes and big countries in terms of power can shape decisions in international organizations overshadowing smaller one (OSLAND, 2002, p. 6)

It is politically motivated to foster Chinese selfish national and global interests. The proposed Mphanda Nkuwa dam is a good example of the problems linked to china’s lack of concern for human rights and the environmental impact of the projects they are financing. The US$2.3 billion Mphanda Nkuwa dam caused considerable debate in Mozambique with civil society and potentially affected communities raising numerous concerns. In spite of the social and economic risks of the project, China’s overseas lending arm agreed to back up the construction of the dam project (Kuo,