Impact of globalisation on world policy

Impact of Globalisation on World Policy

Definition of Globalisation

• Globalisation refers to the increasing interconnectedness and interdependence of countries through the growth of international flows of trade, capital, information, ideas and people.

The Economic Impact of Globalisation on World Policy

• Globalisation has led to a liberalisation of trade through the reduction of tariffs and quotas, facilitating the free movement of goods and services.

• This has resulted in a shift in policy in many countries, abandoning protectionism and adopting neoliberal economic policies that favour free trade, deregulation and privatisation.

• Globalisation has allowed Multinational Corporations (MNCs) to grow massively in power. They often have more financial resources than some countries, influencing world economic policies and decisions at a global level.

The Political Impact of Globalisation on World Policy

• Globalisation has resulted in a transfer of sovereignty from national governments to supranational bodies like the European Union or World Trade Organisation, which can override national policies.

• Globalisation has exacerbated the democratic deficit, where a lack of transparency and accountability in international institutions leads to decision-making processes that are detached from the citizens they purportedly represent.

The Social and Cultural Impact of Globalisation on World Policy

• Globalisation has propelled the dominance of Western culture and values across the globe, influencing policies related to media, education, human rights and more.

• Conversely, globalisation has also led to a resurgence of local cultures and identities, as a form of resistance against cultural homogenisation. This may influence policies related to multiculturalism, language preservation and indigenous rights.

The Environmental Impact of Globalisation on World Policy

• The interconnectedness promoted by globalisation has led to increased awareness and concern about global environmental issues such as climate change. This in turn influences policies at both national and international levels related to renewable energy, conservation and sustainability.

Impact on Stratification and Inequality

• Despite driving economic growth, globalisation has also been associated with increasing inequality between and within nations. Hence, world policies on wealth redistribution, social welfare and poverty alleviation are being continuously reviewed and altered.

• Stratification has become more global, with wealth becoming concentrated in the hands of a global elite, while poverty becomes more widespread. This power imbalance challenges traditional social structures and prompts shifts in policies aiming at social justice.