Globalization refers to all those processes by which the peoples of the world are incorporated into a single world society, global society (p.9).
Globality is supplanting modernity (p. 4)
The world economy has become so highly interdependent as to make national independence an anachronism, especially in financial markets. The interdependence is driven by science, technology and economics - the forces of modernity.; and these forces, not governments, determined international relations. Thanks to this interdependence, war between modern nations is an impossibility.
The critical point is that both sides of the coin of global cultural process today are products of the infinitely varied mutual contest of sameness and difference on a stage characterised by radical disjunctures between different sorts of global flows and the uncertain landscapes created in and through these disjunctures.(p. 17)
What is taking place is a process of cultural mixing or hybridization across locations and identities
The emergent global order is locked in a major conflict between the consumerist 'McWorld' on the one hand and the identity politics of the 'Jihad' on the other.
Within the paradigm of the second modernity, however, globalization not only alters the interconnectedness of nation-states and national societies but the internal quality of the social. Whatever constitutes ‘society' and ‘politics' becomes in itself questionable, because the principles of territoriality, collectivity and frontier are becoming questioned. More precisely: the assumed congruence of state and society is broken down and suspended: economic and social ways of acting, working and living no longer take place within the container of the state.
Globalization however the word is understood
sovereignty and state structures. (p.86)
implies the weakening of state
The world-wide interconnectedness between nation-states becomes supplemented by globalisation as a process in which basic social arrangements (like power, culture, markets, politics, rights, values, norms, ideology, identity, citizenship, solidarity) become disembedded from their spatial context (mainly the nation-state) due to the acceleration, massification, flexibilisation, diffusion and expansion of transnational flows of people, products, finance, images and information (p.13).
What distinguishes the different views is the point of reference used. After all, if we regard globalisation as a process, there must be a ‘past reality' that is or has been affected by this process. Classified according to the point of reference taken we can approach ‘global' as a geographical concept, distinguishing it from the local; as a concept of authority and power, distinguishing it from territorial sovereignty; as a cultural concept, distinguishing it from isolation; and finally, as an institutional concept, distinguishing it from national (p.8).
What is new is not so much that international trade is an important part of each nation's economy, but that a national economy works as a unitat the world level on real time. This gives a tremendous advantage to multinational firms, since they already have the knowledge required to produce and to market goods and services internationally. Nationstates remain important in organizing activities, yet their frame of reference for economic strategies can no longer be restricted to the national economy (p. 212).
Globalisation may indeed mean the end of the nation-state if the nation-state fails to redefine itself to meet the new conditions it faces in the global environment.
The global economy is an economy with the capacity to work as a unit in real time...