Contemporary Globalization (1)

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Contemporary World Politics ‘To what extent should contemporary globalization be considered as a cause of conflict in world politics?’ Introduction Globalization, an introduction Before discussing contemporary Globalization, it might be useful to define the concept of globalization and its numerous dimensions comprehensively and how they have evolved throughout history. Only then we will be able to absorb the critical analysis of the extent of role played by contemporary globalization in world
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  Contemporary World Politics ‘To what extent should contemporary globalization be considered as a cause of conflict inworld politics?’   Introduction Globalization, an introduction Before discussing contemporary Globalization, it might be useful to define the concept of globalizationand its numerous dimensions comprehensively and how they have evolved throughout history. Only thenwe will be able to absorb the critical analysis of the extent of role played by contemporary globalizationin world politics so far. This is because we cannot evaluate the contemporary globalization without fullyunderstanding the difference between contemporary globalization and historical or archaic globalization.   Globalization encompasses a wide range of political, cultural and economic concepts. According to theStanford encyclopedia of philosophy; globalization is the proliferation of the idea of free market policiesin the world economy, the growing dominance of western political, economic and cultural thoughts, andmore importantly the ever escalating popularity of the new information technologies such as internet. Inshort, the whole humanity is now intricately integrated into a single global community (Scheuerman2010). Evolution of Globalization: We can now move on to the brief discussion of how Globalization has evolved throughout history. Earlyglobalization also known as archaic globalization was incepted at the time of Greeks. Commercialized  cities started to grow under the Greek culture which stretched from India to Spain and included cities suchcities asAthens,Alexandria,andAntioch.Trade was quite widespread during that period. Alexandria was the largest city in history at that time and became the center of trade and commerce, more importantlylinking India and Arabia with the European and Mediterranean cultures. Thus, Greece was beinginfluence by all the cultures it was now connected with. This was the start of a global community, wherediverse cultures started to interact with each other (S 2008)Then came the Islamic age which is also an important period and stage of globalization. ProphetMuhammad (PBUH) and other early Muslim rulers explore till Spain, Cyprus and Persia. Jewish andMuslim rulers, traders and explorers established strong economies across continents which resulted inanother stimulus for the concept of globalization. Significant crops such as cotton, sugar, rice and spiceswere being widely cultivated and traded throughout the Muslim world. In addition to this, the necessity of knowing Arabic language and the ritual of Hajj gave rise to the religious and linguistic aspectsglobalization (Hobson 2004).Global amalgamation gained more significance after the expansion of European trade in the 16th and 17thcenturies. When numerous European empires along with their cultures colonized the Americas,Globalization has had a huge impact on cultures, religions and traditions around the globe. Globalizationbecame a business and trade phenomenon when The British East India Company was founded/ established in 1602. This step by the British laid the foundational steps of the contemporary corporatetype globalization because East India Company was the first organization in the world that introducedownership rights, stocks, shares, etc (Baylis, Smith and Owens 2010, 13-35). Main Body From Archaic Globalization to Contemporary Globalization:  Now that we have discussed the Evolution of Globalization, we can move on to the concept of Contemporary globalization. Contemporary globalization is quite different from archaic globalization inevery manner. The main factors behind archaic globalization were religion, language, trade orcolonization (in later cases) but the chief pillars on which the building of contemporary globalization isbuilt are capitalism, consumerism and nationalism. The last two centuries witnessed the advent of a newphenomenon, Industrialization, which later lead to the inception of above discussed factors of capitalism,consumerism. These phenomenons were further fueled by the isolation of communism and proliferationof free/market economics ideas. The communist ideas were isolated from the global forum after the endof cold war while the United States, the new super power emerged as the main player, indeed the chief participant, in the growth of world capitalism. The existence of communism was a hindrance to thegeographical range of capitalism; however its rollback led to a rapid spread of capitalist market principleson the global arena. In contrast to archaic globalization elements of culture, language and religion,contemporary globalised world economy pervaded with global goods and services (Steans and Pettiford2005). Contemporary globalization and political conflict: Now that we have discussed the chief components of contemporary globalization, we can safely move onto the discussion of how contemporary globalization has contributed towards the political conflicts of thisworld. The rapid growth of capitalism, consumerism and industrialization has had a major impact on theglobal politics. The second half of the twentieth century witnessed tremendous growth in global trade innumerous industries. Many states specialized in a particular form of production and developed so calledglobal factories to supply goods all over the world. This has enabled the specialized states to gaineconomic superiority over non-specialized states. For example, Coca Cola, a major U.S product at thattime was being bottled in twenty nine countries and being sold in seventy nine countries as early as 1929(Baran 1957). Thus, free trade, industrialization and specialization led to some countries gaining extra  economic and politica l power that is a major cause of political conflict in today’s world (Baylis, Smithand Owens 2010, 36-92).Contemporary globalization also led to the birth of a new concept, supraterritoriality. According toScholte, in a globalized international arena, state borders no longer hold a significant position bothphysically and conceptually. Contemporary globalization can be best defined as supraterritoriality whichencompasses trade deregulation and liberalization, increased fast and portable communications,homogenized cultures and dilutions of decision- making authorities all over the globe (Global capitalismand the state International Affairs 1997).The reason of discussing these concepts in detail is the importance of the impact they have had on theglobal political conflict. Just because these phenomenons are a brainchild of contemporary globalization,the current financial vulnerability and economic instability can be directly related to it. The developmentof a globalised financial and industrial arena which is predominant of capitalist ideas has led to massinequalities within the human population on this planet. Globalization, Multinationals and Strong & Weak Economies: The growth of global markets or supraterritoriality and the escalation in global production has led to arampant spread of global monies. The international institutions have manipulated the world financialorder in favor of some countries; thus, no national denomination has been more successful than the USdollar and some other western currencies. The rise of supraterritoriality has not only affected how themoney flows through main financial institutions but has also infused individual money markets such asbanking, securities, derivatives, insurance etc (Baylis, Smith and Owens 2010, 528-532).Another crucial aspect of contemporary globalization is the magnitude of nature and power of multinational institutions and corporations. Multinational corporations and global giants account for overthirty three percent of the worlds output and control more than seventy percent of the world trade Theproducers usually establish their operations in other countries where operating costs are quite low and
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