Chapter 1.docx

4 Pages
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Department
Political Science
Course Code
POLB80H3
Professor
M.Hoffmann- Universityof Toronto

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CHAPTER 1 – GLOBALIZATION AND GLOBAL POLITICS Introduction Pg. 16 - Globalization – widening, deepening, speeding of worldwide interconnectedness - Hyperglobalists say – globalization brings demise of sovereign nation-state - Sceptics – states, geopolitics principal agents and forces shaping world order - Transformationalist – global politics – traditional distinction between domestic and international affairs not meaningful Making Sense of Globalization - Instability in on region takes toll on jobs, production, savings, investment - Collapse of US banks felt everywhere - Transnational corporations 25% and 33% world output Pg. 17 – transnational issues has led to growth of transnational and global forums of rule-making and regulation from G20 summits Conceptualizing Globalization Pg. 18 – Globalization:  Stretching of social, political, economic activities  Intensification/growing magnitude  Accelerating pace of global interactions and processes, transportation, technology  Growing extensity, intensity, velocity of global interactions associated with  Globalism – worldwide diffusion of very idea of globalization itself as it becomes incorporated into the world’s many language - Globalization capture dramatic shift in organization of human affairs  Structural change in scale of human social and economic organization  Organized on a transnational or global scale - Time-space compression- shrinking world. Every local development may be traced to distant condition or decisions - Globalization process of deterritorialization – social, political, economic activities stretched across globe they no longer organized solely according to strict territorial logics (large companies have HQ abroad) - Exercise of power is declining Pg. 19 – territorial borders no longer demarcate boundaries of national economic or political space - Shrinking world – sites of power and the subjects of power may be continents apart - Power is organized and exercised at distance - States no longer monopoly of power resources - Globalization more than growing connection or interdependence between states Pg. 20 - Internationalization – growing interdependence between states, they remain discrete national units with clearly demarcated borders Pg. 20 – world’s 3 major economic blocs – North America, Asia Pacific, Europe Box 1.2 Globalization at risk? The financial crisis of 2008 - Financial crisis of 2008 greatest risk of the world economy since depression - It precipitated a contraction in global economic transaction in international bank lending to foreign investment - Great correction of 2008 has put economic globalization at risk  Government seek to prevent aslide to global depression or protectionism - Emerging power- China, India, Brazil remain essential to economic growth and national prosperity Contemporary Globalization - John Gray – Era of globalization is over – threat of terrorism, government seal borders - Government protect national industries from foreign and trade competition  Overlooks non-economic trend and tendencies or treats them insignificant - Evidence of globalization is around us - 9/11 and financial crisis 2008 evidence of the end of globalization - If contemporary globalization patterns uneven, they’re highly asymmetrical - OECD countries more globalized and rich than poor African states - Inequality described as asymmetrical globalization – process of contemporary globalization - More world becomes a shared social space, greater sense of division, difference, enmity it may create - Stocking fears of imperialism by anti-globalization movements  Contemporary patters of global interconnectedness  Institutionalization through new global and regional infrastructure - Thick globalization embodies powerful systemic logic that constitutes circumstances in which states operate Bow 1.3 The Sceptical
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