Skip to 0 minutes and 10 secondsIt has been argued that for better or for worse we are being propelled into an evolving and irresistible global order that no one fully understands. Globalisation we are told has dramatically compressed time and space, creating a global village where our distinct and complex social economic political and cultural systems are merging into one homogeneous global system. Some see globalisation as a force for good. They believe that it has facilitated transnational corporations with progressive opening of many parts of the world to free market capitalism and the growing interconnectedness of economic market and financial systems leading to endless opportunities. But there are others who believe that globalisation is rather a continuation of the past.
Skip to 1 minute and 13 secondsThey will give us yet another capitalist stage which seeks to reinforce political and economic imperialism. Discussion of globalisation and its benefits continues unabated. But what do you think, where is globalisation leading us into the future?
The end of globalisation?
The grand narrative of globalisation, long considered to be the best route to economic prosperity and a euphemism for socio-economic development over the past few decades, may not be as inevitable as once considered.
In this video, Dr Abdoulie Sallah presents differing views of globalisation.
For most of the past 25 years, globalisation was seen as an unstoppable and an irreversible force, as sure to advance as the sun rises in the east. In the past few decades, globalisation has narrowed the wealth gap between rich and poor countries but fed into a growing crisis of inequality within Western countries and developing countries.
Globalisation is now considered to be in crisis and at a point of receding, where provincialism and nationalism are taking hold. With the rise of economic nationalism, the looming fear of new trade wars between the USA, China and Europe, rising geopolitical tensions, the intensification of market protectionism and the shifting global economic landscape from the West to the East, many commentators have begun announcing with conviction the dead of globalisation.
But what do you think? Where is globalisation leading us into the future?
Read the executive summary of the article Globalization in the Age of Trump available online from Harvard Business Review. Note: you will need to close the message on HBR’s website to read the executive summary.
To what extent do you agree or disagree with the views articulated by the author?
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