“One cannot satisfactorily understand globalization without an appreciation of the hierarchical nature of the global system.” Discuss.
“One cannot satisfactorily understand globalization without an appreciation of the hierarchical nature of the global system.” Discuss.
It can be stated that globalization is an expression used to describe global interconnectedness of cultural, social, political and economical proceedings. Globalization, from its inception, has been given various descriptions and yet its theorists have failed to reach consensus on one single definition. David Held and Anthony McGrew, in the book ‘Global Transformations’, have defined globalization as “widening, deepening and speeding up of global interconnectedness.”
In order to fully comprehend globalization and the hierarchical nature of the global system, one must appreciate the full meaning of the word “global interconnectedness”. The concept of globalization implies that any event that occurs in one part of the world, no matter how remote, can have a profound impact on the rest of the globe. The 2008 stock market crash in the United States had a profound impact on the lives of the individuals all over the world. The aftershocks of the 2008 US financial markets meltdown reverberated all over the globe and impacted global markets overwhelmingly, the likes of which the world had never witnessed before. Consequently, the world economy is still struggling to get back to its pre 2008 state, thanks to the global interconnectedness of markets and economies.
It is evident that in this period of time people around the world are more aware of the political events in other parts of the world and have more political, social and cultural awareness about other nations than ever before. The Arab Spring that was initiated in Tunisia stimulated the Libyan and Egyptian revolutions and inspired activists of Occupy Wall Street in the United States. In 2008 the whole world was awaiting the election of the new U.S President. Goods and services are flowing from one corner of the world to the other at speeds never encountered before. All
It can be stated that globalization is an expression used to describe global interconnectedness of cultural, social, political and economical proceedings. Globalization, from its inception, has been given various descriptions and yet its theorists have failed to reach consensus on one single definition. David Held and Anthony McGrew, in the book ‘Global Transformations’, have defined globalization as “widening, deepening and speeding up of global interconnectedness.”
In order to fully comprehend globalization and the hierarchical nature of the global system, one must appreciate the full meaning of the word “global interconnectedness”. The concept of globalization implies that any event that occurs in one part of the world, no matter how remote, can have a profound impact on the rest of the globe. The 2008 stock market crash in the United States had a profound impact on the lives of the individuals all over the world. The aftershocks of the 2008 US financial markets meltdown reverberated all over the globe and impacted global markets overwhelmingly, the likes of which the world had never witnessed before. Consequently, the world economy is still struggling to get back to its pre 2008 state, thanks to the global interconnectedness of markets and economies.
It is evident that in this period of time people around the world are more aware of the political events in other parts of the world and have more political, social and cultural awareness about other nations than ever before. The Arab Spring that was initiated in Tunisia stimulated the Libyan and Egyptian revolutions and inspired activists of Occupy Wall Street in the United States. In 2008 the whole world was awaiting the election of the new U.S President. Goods and services are flowing from one corner of the world to the other at speeds never encountered before. All