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Chapter 11 Looking Ahead

Chapter 11 Looking Ahead. Expectations of Globalization. Do the driving forces of globalization (Ch. 1) signify a different era? A break from the past A New World Order – Different views of the US and Russia Anti-globalization Those negatively affected by the process

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Chapter 11 Looking Ahead

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  1. Chapter 11Looking Ahead

  2. Expectations of Globalization • Do the driving forces of globalization (Ch. 1) signify a different era? • A break from the past • A New World Order – Different views of the US and Russia • Anti-globalization • Those negatively affected by the process • Mainly targeted at economic institutions

  3. Challenges Affecting all Domains • Two competing goals of most economies • Capitalistic – maximizing the profits of private enterprise • Socialistic – maximizing welfare in society • Changing demographics impacts nations • Population growth and composition • Geographic differences • Inequality and poverty in every community • Access to opportunity

  4. Minorities and marginal communities • Powerlessness and social exclusion • Managing technology • Affecting all aspects of society • Civil society • NGOs are an influential force

  5. Debating Globalization Representative forums of the debate • World Economic Forum • Private effort bringing elites and opinion leaders together • Importance of economic liberalization across nations • World Social Forum • Led by NGOs of various persuasions • Stresses the negative fallout of globalization

  6. AGAINST GLOBALIZATION - Undercuts national sovereignty. - Poor countries versus the power of the rich. - Free trade overwhelms the less developed. - Weak labor and environmental regulations in the developing world cause job losses in the developed world. - Materialism and global trumps beliefs/culture and traditional values. - Excessive immigration causes social upheavals. - Fast pace of change does not allow time for institutions and systems to adapt.

  7. FOR GLOBALIZATION -Expands opportunities for individuals with skills who can build wealth. - Freer trade facilitates economic growth, reduces poverty by creating new jobs. - Global competition keeps prices in check and encourages innovation. - Globalization is a natural tendency of people to interact between nations and cultures. - Global interaction checks the power of a few nations to dominate the world. - Climate problems and energy needs force people to work at global solutions. - Interdependence makes people discover their common humanity for a better world.

  8. Some Debates in Each Domain • Economic domain: Free trade versus protectionism • Physical domain: Protecting the environment versus exploiting resources • Business domain: Dominant MNCs versus small and medium enterprises • Political domain: Participative democracy versus strong, directive leadership • Social domain: Multiculturalism versus domination by a majority culture

  9. Some Convergences and Divergences • Economic: Free trade and income inequality • Social: Tolerance and fundamentalism • Political: Democracy and independence movements • Physical: Technology and sustainability • Business: Standardization and local preferences

  10. Taking a System Perspective • Globalization is an ongoing inexorable process with historical roots • Domain dynamics with winners and losers keep debate going • ACE framework enables analysis by studying interactions • Helps derive recommendations at varied levels • Individuals • Groups • Nations (c) C. Gopinath, 2018

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