Globalization Under Attack

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«
It
 is
 said
 that
 Globalization
 is
 under
 attack.
 Discuss
 the
 drivers
 of
 globalization
 and
the
challenges
that
it
is
facing
at
the
moment.
»
 


Given
 the
 relatively
 broad
 aspects
 of
 globalization,
 this
 essay
 will
 cover
 those
 directly
 and
 indirectly
 related
 to
 the
 economy
 but
 at
 the
 same
 time
 trying
 not
 to
 lose
 sight
 of
 the
 interconnected
 whole.
 The
 definition
 of
 globalization
 below
 will
 be
 the
 benchmark
 of
 this
 work
 as
there
is
no
officially
accepted
definition
of
it.
The
Term
globalization
first
appeared
in
the
60’s
 to
 refer
 to
 the
 increasing
 movement
 of
 people,
 goods,
 services
 and
 information
 across
 borders
 thanks
 to
 the
 advance
 in
 technology
 and
 international
 relations
 as
 well
 as
 to
 the
 willingness
 of
 both
 people
 to
 consume
 differently
 and
 companies
 to
 sell
 in
 different
 markets
 (Steger,
 2002).
 For
more
than
four
decades
this
movement
grew
at
an
unprecedented
speed.

 


Today,
 however,
 most
 languages
 around
 the
 world
 are
 adding
 another
 new
 term
 to
 their
 dictionaries:
 deglobalization.
 Everywhere
 on
 the
 planet
 both
 popular
 and
 academic
 literature
 use
 it
 (the
 word
 speaks
 for
 itself)
 as
 what
 it
 appears
 to
 be
 the
 opposite
 of
 globalization.
 As
 reported
by
the
International
Monetary
Fund
the
world
economy
growth
is
at
its
lowest
level
for
 60
 years
 (Munoz,
 2009).
 Questions
 such
 as
 terrorism,
 inequality,
 climate
 change
 and
 other
 environmental
 problems
 as
 well
 as
 the
 fear
 of
 losing
 national
 control
 are
 some
 of
 the
 main
 increasing
 concerns
 of
 stakeholders
 concerning
 the
 globalisation
 process,
 to
 say
 nothing
 of
 the
 current
 financial
 crisis
 that
 made
 governments
 around
 the
 globe
 rethink
 the
 way
 they
 regulate
 their
markets.



Global
 capitalism
 is
 indeed
 under
 fire.
 The
 UN
 Conference
 on
 Trade
 and
 Development
 has
 reported
 that
 FDI
 (Foreign
 Direct
 Investment)
 flowing
 in,
 dropped
 by
 21
 %
 in
 2008,
 and
 as
 The
 World
Association
of
Investment
Promotion
Agencies
says:
it
is
expected
to
continue
this
decrease




2


in
 2009
 reaching
 between
 12
 and
 15
 per
 cent
 of
 contraction
 by
 the
 end
 of
 the
 year
 (Munoz,
 2009).
 Nevertheless,
 It
 is
 not
 difficult
 to
 notice
 that
 further
 globalization
 is
 inevitable
 if
 the
 effects
 of
 the
 current
 global
 recession
 are
 not
 taken
 into
 consideration.
 The
 forces
 driving
 it
 are
 far
too
powerful
given
the
advanced
level
it
has
reached.
As
stated
by
Gurría
(2006)
on
behalf
of
 the
 Organization
 for
 Economic
 Co­operation
 and
 Development
 (OECD):
 the
 trade
 stake
 contributing
 to
 worldwide
 GDP
 has
 been
 multiplied
 by
 three
 since
 the
 50’s
 thanks
 to
 the
 acceleration
 in
 globalization.
 The
 amount
 of
 FDI
 outflows
 from
 developed
 countries
 is
 now
 four
 times
higher
than
in
1950,
which
has
enabled
the
transfer
of
technology
to
developing
countries.
 Moreover,
other
benefits
of
globalization
are
also
highly
visible;
it
has
helped
to
move
millions
of
 people
 out
 of
 poverty.
 For
 years,
 the
 economy
 of
 under
 developed
 nations
 has
 been
 climbing
 whereas
developed
ones
have
had
to
put
up
with
little
growth.
Further
analysis
of
the
forces
and
 the
challenges
of
globalization
show
how
the
former
prevail
over
the
latter.

 


Although
 it
 is
 arguable
 that
 terrorism
 as
 a
 cause
 is
 more
 of
 an
 ideological
 aspect,
 its
 effects
 also
 represent
 a
 threat
 to
 the
 economic
 side
 of
 globalization.
 In
 the
 Autumn
 of
 2001
 the
 terrorist
 attacks
 on
 the
 twin
 towers
 in
 Manhattan
 slowed
 not
 only
 the
 American
 economy
 but
 also
 all
 those
 economies
 from
 numerous
 other
 countries
 having
 commercial
 relations
 with
 the
 United
 States.
 Over
 3,000
 innocent
 people
 perished
 in
 less
 than
 two
 hours.
 However,
 when
 deconstructing
 Al
 Qaeda
 and
 more
 precisely
...
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