Globalization: Different Realities
By: Sejal Chhetri
(Credit: Adobe Stock Images)
The world is in upheaval. People are being displaced and lives are being lost. As all of this happens, I cannot help but wonder about what happens now. What happens to globalization? The phenomenon that took over the world. First with the rapid growth in technology and later, the expectations and beliefs held by nations. However, as the foundation that globalization was built on is unstable, shifty, and inequitable; will globalization lead to the betterment of everyone or will some people still be left in the dust while others zoom ahead?
The end of the Cold War, a silent geopolitical tension between America and the former Soviet Union (still alive in some form, with Russia), ushered in globalization. It fell into place as America created an edge for itself, aided by the developments in technology and transportation. This led to lower costs, opened new markets, and created a pathway for like-minded nations to align in the name of free trade. Despite the relatively steady leadership that America displays in global trade, America and its liberal trade institutions have been challenged time and again.
Similarly, it is the participating nations' trust that has sustained globalization. The belief that cross-national trade is inevitable, necessary, and facilitates liberalism (economic and otherwise) is what holds these nations' interest. However, recent developments have shown that globalization and its liberal ideals are not inescapable.
This brings into focus the shifty nature of globalization, which, like all other dynamic relationships, evolves over time depending on the circumstances.
The ever-evolving growth in technology has left many nations behind. While this can be attributed to several reasons, a fundamental reason is that globalization breeds exploitation. This leaves the developed nations at an advantage as they are able to not just exploit cheap labor and resources from developing economies, but also adapt and adjust to new technology quickly. The lack of infrastructure, investment in human development, and inability to redeploy resources leave developing nations in a constant cycle of delayed adoption of new technology.
As developed nations grapple with the implications of the developing war between Russia and Ukraine, developing nations are still trying to catch up with the technology that the first world nations are leaving behind. With the existence of globalization being rooted in its goodwill, will it ever match up to the expectations that the nations of the global market hold?
The world is in upheaval. People are being displaced and lives are being lost. As all of this happens, I cannot help but wonder about what happens now. What happens to globalization? The phenomenon that took over the world. First with the rapid growth in technology and later, the expectations and beliefs held by nations. However, as the foundation that globalization was built on is unstable, shifty, and inequitable; will globalization lead to the betterment of everyone or will some people still be left in the dust while others zoom ahead?
The end of the Cold War, a silent geopolitical tension between America and the former Soviet Union (still alive in some form, with Russia), ushered in globalization. It fell into place as America created an edge for itself, aided by the developments in technology and transportation. This led to lower costs, opened new markets, and created a pathway for like-minded nations to align in the name of free trade. Despite the relatively steady leadership that America displays in global trade, America and its liberal trade institutions have been challenged time and again.
Similarly, it is the participating nations' trust that has sustained globalization. The belief that cross-national trade is inevitable, necessary, and facilitates liberalism (economic and otherwise) is what holds these nations' interest. However, recent developments have shown that globalization and its liberal ideals are not inescapable.
This brings into focus the shifty nature of globalization, which, like all other dynamic relationships, evolves over time depending on the circumstances.
The ever-evolving growth in technology has left many nations behind. While this can be attributed to several reasons, a fundamental reason is that globalization breeds exploitation. This leaves the developed nations at an advantage as they are able to not just exploit cheap labor and resources from developing economies, but also adapt and adjust to new technology quickly. The lack of infrastructure, investment in human development, and inability to redeploy resources leave developing nations in a constant cycle of delayed adoption of new technology.
As developed nations grapple with the implications of the developing war between Russia and Ukraine, developing nations are still trying to catch up with the technology that the first world nations are leaving behind. With the existence of globalization being rooted in its goodwill, will it ever match up to the expectations that the nations of the global market hold?
