After Globalization: Crisis and Disintegration

Globalization has declined politically and economically due to various factors, including trade tensions, nationalism, and the COVID-19 pandemic.

Format: Paperback / softback
Length: 326 pages
Publication date: 21 September 2021
Publisher: Taylor & Francis Ltd

The phenomenon of globalization, which marked a significant shift in the global economy and society, has experienced a remarkable rise and subsequent decline over the past four decades. This complex and multifaceted process has been shaped by a multitude of factors, both internal and external, and has had far-reaching consequences for the world.

The origins of globalization can be traced back to the post-World War II era, when countries began to liberalize their trade policies and reduce trade barriers. This led to the establishment of international trade organizations such as the World Trade Organization (WTO) and the General Agreement on Tariffs and Trade (GATT), which facilitated the flow of goods, services, and capital across borders.

One of the key drivers of globalization was the advent of technology, particularly the development of the internet and the widespread adoption of smartphones. These technological advancements facilitated the rapid dissemination of information, the expansion of global markets, and the increased connectivity of people around the world.

However, globalization also faced several challenges during its ascent. One of the most significant was the growing inequality between countries, which was exacerbated by the concentration of wealth in the hands of a few individuals and corporations. This led to protests and social movements, such as the Occupy Wall Street movement, which criticized the economic policies of the global elite and demanded greater social and economic justice.

Another challenge to globalization was the emergence of nationalist movements, which sought to protect local industries and jobs from foreign competition. These movements gained traction in many countries, particularly during the global financial crisis of 2008, when many people felt that the benefits of globalization were not being shared equally.

Despite these challenges, globalization continued to grow in the early 21st century. This was driven by the increasing demand for goods and services from emerging markets, such as China and India, as well as the growth of the global middle class.

However, in recent years, globalization has experienced a significant decline. This has been driven by a range of factors, including the COVID-19 pandemic, which has disrupted global supply chains and led to a decline in international trade.

Additionally, the rise of populist movements and the increasing polarization of political discourse has led to a growing sense of nationalism and protectionism in many countries. This has led to the implementation of trade barriers and other policies that hinder the free flow of goods and services across borders.

In conclusion, globalization has experienced a remarkable rise and subsequent decline over the past four decades. While it has brought many benefits, such as increased economic growth and increased connectivity, it has also faced significant challenges, such as growing inequality and the emergence of nationalist movements. The future of globalization is uncertain, and it will be important for policymakers and individuals to navigate this complex and rapidly changing global landscape.

Weight: 500g
Dimension: 151 x 229 x 26 (mm)
ISBN-13: 9781032056098