Globalization In The 21st Century

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In general terms, globalization is “the growing integration of markets and nation-states and the spread of technological advancements” (Martens & Raza 2009:1) catalyzed by increasingly capitalistic relations. However, it does not advance at a consistent rate but rather in punctuated “bursts” or waves of major social, technological, or economic developments (Lewis 2014:v). The late 20th century, for instance, was marked by the collapse of the Soviet Union and the invention of the Internet, but its most defining “bursts” came by way of the World Wars. In fact, decisions made in the postwar period set the “framework for international economic cooperation (as well as the United Nations for political cooperation) in which there would be international…show more content…
However, as Ted Lewis (2014:v) explains, “even though the 21st century is still young, it is already marred by the dot-com crash, terrorism, financial system collapse, war, unsettling climate change, rise of new viruses—both animal and cyber—and an evolving socio-political shift caused by lightning speed advances in technology. Compared with the 20th century, the first decade of the 21st century was as eventful and significant as the past fifty years of the previous century.” Not only has this century been exceptionally eventful but it is also defined by an inter- connectedness which bends time and space so that local events may be felt…show more content…
Moreover, the global accessibility that technology has provided also marks a significant shift since the late 20th century: the decline of government economic and political power in the face of consumer supply and demand. “The role of the financial speculator has increased as the power of national government has decreased—consider the ignominious exit of the United Kingdom from the European Exchange Rate Mechanism on Black Monday in 1992” (McLellan 2005:120). A more recent example of this is France’s ban on free shipping to prevent, Inc. from posing a threat to the country’s local bookstores (Griswold 2014). The American website has become so much more economical and convenient that French consumers have begun to prefer it over their locally- owned bookstores, thus allegedly threatened the French economy. Furthermore, Amazon’s bold response of charging one euro cent instead has demonstrated the company’s confidence in the face of a major world power’s defiance, not to mention its secured share over the French market. More generally, “the overriding task we confront today is that of preserving and extending forms

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