Globalization: Concept, nature and dynamics

According to Castells (2004) 'thus what is specific to our world is the extension and augmentation of the body and mind in networks of interaction powered by microelectronics based, software operated, communication technologies... It is on this basis that a new social structure is expanding as the foundations of contemporary life: the network society’.
He argued that 'electronic informational communication' brought by information communication technologies changed virtually every aspect of social living. He talks about network society.<br>

Martinelli (2005) says that 'globalization is one of the visible consequences of modernity and has in turn reshaped the project of modernity’.
He further argues that 'the contemporary world looked more and more like a laser beam hologram where every point contains information about the whole'.<br>

According to Robertson globalization refers to processes where the world is moving towards 'unicity' or global unicity, the growing 'oneness' of the world as a single sociocultural place (Coleman and Sajed, 2013).
Marshall McLuhan gave the concept of 'global village’.
Globalization changes the way people interact with each other for example internet, computers, facebook, whatsapp, video chat etc.<br>

We can understand globalization in context of liberalisation and privatisation (LPG model).
Contemporary world is a global system in which nation states are becoming increasingly interdependent.
We can see international division of labour.<br>

Global communication is facilitated by technological advances like development of fiber optic cables and strong satellite technology, global television links etc.
More than 30% of total global population is using internet enriching global communication.
David Held talked about hyperglobalisers, sceptics and transformationalists.<br>

Hyperglobalists They see globalization as a new epoch in human history.
Hyperglobalist Ohmae (1990) argues that the era of nation state is declining in the face of intensification of global market place. According to him globalization is leading to a 'borderless world' in which market forces are more powerful than national governments.
It is creating a new global order based on powerful flows of cross border trade and production.
There is very significant growth in world trade.<br>

Sceptics Globalization is not a new phenomena. Economic relations and interdependence among nations had existed in past also.
Contemporary globalization differs from the past only in the intensity of interaction between different countries.
They argued that nation states are still very powerful and significant.<br>

National governments are important because they regulate and coordinate economic activities and sign trade agreements. They also have territory and military power.
They argue that most of trade occurs within regional groups (for example European Union) rather than in a genuinely global context.
Thus, some sceptics argue that the contemporary period is basically a process of regionalisation within the world economy.
World economy is less global as compared to past (a century ago).<br>

Transformationalists They take a position between hyperglobalisers and sceptics.
They argue that although the global order is changing/being transformed, many of the older patterns are continuing.
National governments are still important inspite of increasing global interdependence.
Globalization is a decentered process which works in a multidirectional way.
They argue that globalization is an ongoing process but it has not completely transformed the world's society.<br>

Glocalization Roland Robertson (1992) coined the term glocalization.
It is a mixture of globalization and localization.
Local community modify and shape global processes to fit their own cultures.
Similarly transnational companies keep local culture, needs and conditions in mind while manufacturing and marketing their products and services.
Local is shaped by global and there is potential in the local to change the global.<br>

The dynamics of globalization is concerned with an understanding of its impact on business, trade, state and civil society in general.
It has brought change in lifestyles, consumption patterns, education system etc.
It had affected women and other marginalized section of societies in different ways (both positive and negative).
As mentioned by Giddens due to globalization we are living in the age of 'weightless economy', 'knowledge society', 'the information age' and 'electronic economies'.<br>

Thank You<br>