Globalisation: A World Order

Overview of Globalisation

Globalisation refers to the increasing interconnectedness of countries through various means:

• Trade: The seamless exchange of goods and services across international borders.
• Investment: The cross-border flow and allocation of capital in international business ventures.
• Technology: The global sharing and access to technological innovations.

Key Aspects of Globalisation

• Free Trade: Participating in international trade with minimal barriers or tariffs.
• Capital Flow: The movement of capital for purposes such as investment, commerce, or production.
• Migration: Movement of individuals across borders for employment, education, or refuge.
• Technology Transfer: The dissemination of technological advancements among countries to boost productivity and innovation.

Historical Context

Key Historical Events

• Bretton Woods Institutions:
  • Created to oversee the global monetary framework, ensuring economic stability.
• Formation of the WTO:
  • Encourages free trade by managing international trade agreements.
• End of the Cold War:
  • Resulted in heightened global political alliances and cooperation.
• Influence of Ethnic Conflicts:
  • Led to international interventions promoting peace and cooperative initiatives.

Technological and Industrial Impact

• Technological Advancements:
  • Internet: Transformed communication, facilitating global business operations.
• Industrial Strategies:
  • Container Shipping: Enhanced global production networks through streamlined logistics.

The above timeline highlights pivotal moments in the development of globalisation, marking foundational changes like the establishment of the Bretton Woods system and the WTO.

This map illustrates the vast reach of global trade networks and the regions most influenced by globalisation.

Terminology and Case Study

Terminology

• Neoliberalism: The advocacy for free-market capitalism, limited state intervention, and deregulation.
• Liberalisation: The process of reducing government restrictions, primarily in areas like trade or investment, to spur economic growth.

Case Study: Malaysia Post-1997

• Economic Reforms:
  • Adopted open-market policies to foster growth.
  • Engaged in comprehensive reforms of the financial sector to ensure stability.
  • Focused on export-driven growth to enhance international trade.

Malaysia's strategic adaptations underscore the nimbleness required for economic recovery and progress in a globalised environment.

Integration of Knowledge and Media

Role in Globalisation

• Education:
  • Promotes the worldwide exchange of knowledge, enhancing cultural understanding and cohesion.

Media's Influence

• Media Corporations:
  • Play a significant role in shaping global narratives through strategic partnerships, impacting cultural and social norms.

Economic Insecurity

Impact on Labour Markets

• Offshoring and Outsourcing: Major technology firms like Apple outsource manufacturing to nations with lower labour costs, such as China, affecting employment in their home countries.
  • Statistics: In the technology sector, 30% of jobs have been outsourced, disrupting traditional employment landscapes.
• Gig Economy Growth: Companies like Uber and Deliveroo exemplify the proliferation of temporary, flexible work arrangements globally.
  • Growth Insight: Recent analyses indicate the gig economy has expanded annually by 25% in urban areas.

Trade Policy Adjustments

• Australia's Policy Changes:
  • Reduction in tariffs has benefited agriculture, particularly in the wine industry through competitive pricing.
• EU Policy Adjustments:
  • Post-integration trade regulations led to a 15% increase in internal trade, simplifying rules among member states.

Rise of Nationalism

Manifestations of Nationalism

• Brexit:
  • Timeline: From the 2016 referendum to the 2020 formal exit.
  • Economic Effects: Rising trade barriers have shifted market dynamics.

Role of Political Leaders

• Nationalist Rhetoric:
  • Leaders often use slogans like "Take back our control," promoting nationalism and shaping policy directions.
• Contextual Influence: This rhetoric shapes election outcomes and governance worldwide, resonating across numerous political contexts.

Extremism and Cultural Defence

Religious Fundamentalism

• Post-9/11 Global Impact:
  • Extremist reactions are often seen as defences against perceived cultural erosion.
  • Key Outcome: This era prompted substantial policy changes that redefined global security and privacy measures.

Significant Events

Environmental Movements

Global and Local Movements

• Environmental Initiatives:
  • Greenpeace: Has worked towards reducing deforestation, leading to changes in logging policies globally.
  • Extinction Rebellion: Advocates for urgent climate policy alterations, influencing net-zero legislation in regions like the UK.

Influence on Agreements

• Paris Agreement:
  • A result of collective advocacy urging reductions in emissions to mitigate global warming.
  • Various countries have reported considerable progress towards meeting the established targets.

Visual Aids and Terminology

Definitions

• Jihadism: An Islamic movement advocating jihad, often through extreme means.
• Cultural Imperialism: The dominance of one culture over others, commonly associated with globalisation.
• Eco-activism: Active efforts dedicated to environmental conservation and protection.

Leverage dynamic terms to enhance understanding by integrating them with real-world examples in the notes for better contextual clarity.