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Transformationalist And Globalization

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Every international institutions and several empirical authors have come up with their own comprehensive definition for globalization. However, all the definitions carry three words in common as a tagline for globalization known as the “interconnectedness”, “integration” and “interdependence” of economies and societies. Similarly, authors such as Ravenhill (2014) and Stiglitz (2002), have defined globalization as the international integration resulting from the interconnectedness of economies and societies around the globe.

Furthermore, one of the very important definitions of globalization was listed by Pascal Lamy (2006), the Director General of the WTO which states that globalization is a fundamental transformation in societies and economies …show more content…

Authors Krieger & Crahan (2001) and Chapman et al. (2011) implies that transformationalist argue that technology advancement, improvements in logistics and global network is the driving force behind globalization. They make no claim about the future trajectory of globalization or exaggerate on the current situation of globalization (Held, 1999), instead they see globalization as long term historical process where transformationalist have agreed upon the hyperglobalist view on the intensification of “global interconnectedness” and the recognition of all the convincing nature of globalization as a process (Tikly, 2001). In summary, according to Held (1999), the unsettled view of transformationalist is that inequality is widening, social stratification is increasing and many economies are becoming tightly connected while others are becoming increasingly …show more content…

According to figure 3.1 and 6.3, it is evident that the cost of communication (international calls) has intensely reduced more than the cost of transportation. For instance, in 1950s a three-minute call from New York- London would cost around $80 to $0.23 in 2007 (WTO, 2015; OECD, 2015). Improvements in containerization freight charges have fallen drastically, according to the Epoch Times (2016), charges hit a record low of $701 per 40-foot container on 10th March

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