ULI459U-GLOBAL POLITICAL ECONOMY
Chapter 4: Current Issues in Globalization
Conceptualizing ‘Globalization’ and its Main Drivers
In this part, which is the first part, first of all, the conceptual explanation of globalization is made. It is then explained what are the key forces that influence globalization. Globalization, in general, wants to ensure the goal of demarcating the free movement of goods, people, services and capital. It is assumed that the material and ideal forces that support the process of globalization exist.
Phases of Globalization
This section describes the stages of globalization based on basic international political developments and trends in international politics. Globalization is a process that goes through four fundamental phases, beginning with the first phase of British economic hegemony between 1860 and 1914. The second wave of globalization began with the hegemony of the United States after World War II. This second wave was supported by the newly created international financial and economic institutions. The third wave, which began with US hegemony after the end of the Cold War, collapsed with the 2008 financial crisis. The fourth wave that now exists continues with the rise of the many-side world order and the fierce economic rivalry between the United States and China.
Theories of Globalization
Capitalism, in explaining globalization, bases it on concepts such as regionalization, interracialization, liberalization, populism and Immigration and reveals the existing connections between them. Since Infinite Accumulation of capital is the main goal that globalization and capitalism want to achieve, there is a strong relationship between these two concepts. While globalisation can wipe out nation states to create a universal economic world, internationalisation is still one of the main methods of analysis for nation states. Since it is important to separate these two concepts from each other, the difference between them is this way. According to some studies, the emergence of populist and extreme nationalist leaders of western countries around the hyperglobalization periods of globalization and the deglobalization periods of globalization, as well as the emergence of a globalization process as a result of these countries following protectionist and anti-immigration policies. In addition, societies in developed countries see it as the reason for the humiliating economic, social and political rights and privileges they have. This is why populism, rather than globalization, is said to be becoming more popular. Populist sentiments are used by some politicians to succeed in their election campaigns.
The phenomenon of immigration is increasing, especially despite the harsh measures taken against illegal immigration. The increase in the amount of migration has led sovereign European member states to implement tougher anti-immigration policies and decisions.
Globalization and its Connected Concepts
This section provides information about what their assessment of IR theories against globalization is and how they react. Realists recognize that it is an important part of the international system. Therefore, they say that the role of states in forming their international policies is important. Liberals, on the other hand, say that it has a positive impact on non-state phenomena, such as international peace and prosperity, by slightly removing global conflict from the context of the state. Globalization is expressed by Marxist IR theory as an output of capitalism related to the accumulation of infinite capital. Constructivists, on the other hand, say that leaders accept globalization as a political tool. Poststructuralists see globalization as a discourse and recognize that any claim made about globalization serves the benefit of a particular political discourse. According to postcolonialists, globalization, on the other hand, is an extension that includes colonialism and exists to provide interests to Western states in order to impose the norms and values of the West on the rest of the world.
Globalization and its Discontents
In this section, negative thoughts against globalization and negative criticisms against globalization are included. Many studies say that globalization is a cause of economic competition and economic inequalities in the world. Therefore, it is said that the negative consequences, such as the increase in unemployment and the expansion of the north-south divide, are caused by globalization.
Globalization and Current Challenges
Taking into account the challenge of globalization today gives readers an idea of the form changes taking place in the international system. The aim of this section is to provide information about positive and negative criticisms of globalization.