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: Paperback / softback
Length: 230 pages
Publication date: 12 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, they also pose challenges, such as the potential for job displacement and the concentration of power in the hands of a few large tech companies.

Another challenge facing globalization is the issue of ideological polarization. The rise of populism and the spread of extremist ideologies have created a divide between people around the world, making it difficult to find common ground and cooperate on global issues such as climate change, terrorism, and economic inequality. This polarization has led to a decline in international cooperation and a rise in geopolitical tensions, which threaten to undermine the stability and security of the global system.

In response to these challenges, there are calls for a more balanced and sustainable approach to globalization. This includes promoting greater economic integration among countries, while also addressing the concerns of workers and marginalized communities who may be left behind by the rapid changes brought about by globalization. It also involves promoting greater transparency and accountability in the global financial system, as well as investing in education and training programs to ensure that workers have the skills they need to compete in the global economy.

Furthermore, there is a need for greater international cooperation to address global challenges such as climate change and terrorism. This requires countries to work together to develop and implement policies that promote sustainable development, reduce greenhouse gas emissions, and combat the spread of extremist ideologies. It also involves strengthening the international legal framework and institutions such as the United Nations and the World Bank to ensure that countries are held accountable for their actions and that global norms and standards are upheld.

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 the challenges facing the global system are numerous and complex. However, by promoting greater economic integration, addressing the concerns of workers and marginalized communities, promoting greater transparency and accountability in the global financial system, and investing in education and training programs, we can work towards a more balanced and sustainable approach to globalization that benefits all countries and people.

Weight: 304g
Dimension: 227 x 151 x 17 (mm)
ISBN-13: 9781538179734