Globalization in the 21st Century

The future of globalization in the 21st century is uncertain, with public sentiments souring due to the neoliberal glorification of globalization and national-populist visions of "deglobalization." However, this backlash reinforces the fact that most of today's problems are global in nature, and this book provides an accessible assessment of 21st-century globalization that engages pressing issues such as digitization, ideological polarization, higher education, demographics, human development, and the environment.

Format: Hardback
Length: 230 pages
Publication date: 23 January 2024
Publisher: Rowman & Littlefield

The fate of globalization in the twenty-first century is a matter of great uncertainty and concern. While recent data indicate that most global integration has been on the rebound following the global financial meltdown of 2008-9 and the COVID-19 pandemic, public sentiments about globalization have soured significantly. The neoliberal narrative of globalization as beneficial market integration has lost its momentum, while national-populist visions of "deglobalization" resonate with a growing number of people. The current backlash scenario against globalization, characterized by soaring inflation rates, global supply chain disruptions, accelerating climate change and ecological deterioration, lagging transitions to greener energy sources, escalating economic inequality, and rising geopolitical competition among the Great Powers, particularly the United States-China rivalry and the protracted Russian-Ukrainian war, appears to be confirmed.

However, it is important to recognize that these grim scenarios reinforce the fact that most of today's problems are global in nature. This book aims to provide an accessible assessment of twenty-first-century globalization that draws on global theory and history to address pressing issues such as digitization, ideological polarization, higher education, demographics, human development, and the environment. By assembling a comprehensive picture of globalization in this young century, the book supports practical efforts to set the globe on a more equitable and sustainable path.

The rise of nationalism and protectionism in many countries is a significant challenge to the globalization process. Populist leaders have exploited fears of job losses and cultural erosion to gain support for policies that prioritize domestic industries and workers over foreign competitors. This trend has led to the implementation of trade barriers, tariffs, and other measures that hinder the free flow of goods and services across borders.

At the same time, the emergence of new technologies such as artificial intelligence, blockchain, and the Internet of Things has the potential to drive further globalization and interconnectedness. These technologies can facilitate the seamless flow of information, capital, and people across borders, creating new opportunities for economic growth and development.

However, the uneven distribution of these technologies and the lack of regulatory frameworks to address their potential risks pose challenges to the globalization process. Some countries, particularly in the developing world, may struggle to access these technologies, which could further exacerbate economic inequality and hinder their ability to participate in the global economy.

Another challenge to globalization is the growing influence of authoritarian regimes. Some countries, particularly in the Middle East and Africa, have been ruled by authoritarian leaders who have limited political freedom and civil liberties. These regimes often prioritize their own interests over those of their citizens and the international community, which can hinder economic development and undermine the rule of law.

To address these challenges, it is important for governments, businesses, and civil society to work together to promote globalization and ensure that it benefits all stakeholders. This can include measures such as promoting free trade, investing in education and infrastructure, and addressing the social and environmental impacts of globalization.

In conclusion, the fate of globalization in the twenty-first century hangs in the balance. While recent data indicate that most global integration has been on the rebound, public sentiments about globalization have soured, and challenges such as nationalism, protectionism, and authoritarianism pose significant risks to the globalization process. However, by promoting free trade, investing in education and infrastructure, and addressing the social and environmental impacts of globalization, we can work towards a more equitable and sustainable global economy.

Weight: 445g
Dimension: 236 x 158 x 18 (mm)
ISBN-13: 9781538179727