globalization in 21st century essays

YaleGlobal Online

A World Connected: Globalization in the 21st Century

No word has evoked as much passion in recent times as the word “globalization,” which carries an array of meanings among different people and disciplines. But the fact is that globalization is a historical process that has connected the world and influenced it, for better or worse, in every aspect of life. 

is a collection of more than 100 thought-provoking essays by renowned scholars, journalists and leading policymakers published over the past decade by YaleGlobal Online, now published by the MacMillan Center. The essays are grouped by chapters on Global Economy and Trade, Security, Diplomacy, Society, Culture, Health and Environment, Demography and Immigration, Anti-Globalization, Innovation and Global Governance and offer insights about globalization trends for the future. The volume contains an introduction by the editors and a preface by Yale University President Richard C. Levin.

“With intelligent and timely analysis, YaleGlobal and its first e-book, A World Connected: Globalization in the 21st Century, perform the valuable task of raising awareness about our interconnected world and highlighting the need for international cooperation and better governance.” – Richard C. Levin, President, Yale University

“As the story of globalization continues to unfold, reflecting on the lessons and challenges of both the recent and more distant past is critical to understand the options as we move forward – together, as nations, societies, communities and individuals – and the potential impact of our collective choices. This book will serve as an invaluable and thoughtful reference along the journey.” – Tracey Keys, GlobalTrends.com

Essays on a 21st century multilateralism that works for all

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Brahima sangafowa coulibaly , brahima sangafowa coulibaly vice president and director - global economy and development , senior fellow - global economy and development kemal derviş , kemal derviş senior fellow amar bhattacharya , amar bhattacharya senior fellow - global economy and development , center for sustainable development homi kharas , homi kharas senior fellow - global economy and development , center for sustainable development john w. mcarthur , john w. mcarthur director - center for sustainable development , senior fellow - global economy and development amrita narlikar , amrita narlikar president - german institute for global and area studies josé antonio ocampo , josé antonio ocampo professor of professional practice - school of international and public affairs, columbia university, co-director - economic and political development concentration in the school of international and public affairs, columbia university eswar prasad , eswar prasad senior fellow - global economy and development elizabeth sidiropoulos , elizabeth sidiropoulos chief executive - south african institute of international affairs dennis j. snower , dennis j. snower nonresident senior fellow - global economy and development vera songwe , and vera songwe nonresident senior fellow - global economy and development , africa growth initiative nathalie tocci nathalie tocci director - istituto affari internazionali, honorary professor - university of tübingen, visiting professor - harvard kennedy school.

February 16, 2022

Edited by Brahima S. Coulibaly and Kemal Derviş, this collection of essays builds upon a 2021 global “experts” survey on multilateralism . While not an exhaustive list, the topics addressed here comprise some of the most pressing issues for international cooperation in the years ahead, as identified by both the survey respondents and the essay authors. The editors’ overview follows here.

By Brahima S. Coulibaly and Kemal Derviş

Introduction.

There is no general agreement on what shape the “world order” will take in the years and decades ahead. What is certain, however, is that humanity will have to deal with huge and in many ways unprecedented transformations and challenges, such as the digitalization of economies and societies, climate change and mitigation, pandemic preparedness, extreme income and wealth concentration, 1 and new types of “weapons” associated with dual-use technologies.

There are great opportunities for improved well-being associated with many of these challenges. Digitalization and artificial intelligence (AI) could result in tremendous increases in productivity, and the green transformation necessitated by climate change could constitute the greatest economic, social, and business opportunity since the industrial revolution. 2 However, failure to adequately address some of these challenges, notably climate change, could lead to immense economic and social damage; it could add to the existing pressures caused by mass migration resulting from the imbalance between geographic concentrations of populations and economic opportunities. Furthermore, digitalization could exacerbate inequalities and lead to mass surveillance of societies led by autocrats. In turn, some of the “weapons” that may be developed with new technologies could lead to a scale of destruction of the planet tantamount to nuclear weapons. The U.N. Secretary-General António Guterres starts his new agenda-setting report by stating “humanity faces a stark and urgent choice: a breakdown or a breakthrough.” 3 Multilateral cooperation is therefore needed more than ever to both fully realize the potential benefits of these shifting trends and minimize the dangers that accompany them.

The Global Economy and Development Program at the Brookings Institution conducted a global “experts” survey on multilateralism in the Spring of 2021 as part of a project on the future of global governance. 4 The topics addressed in this compilation of essays do not attempt to cover all challenges faced by multilateralism, but they reflect issues considered most important by the survey respondents, as well as the authors of these essays. Together, they address some of the most pressing questions and needs for international cooperation in the years ahead.

Read the rest of the overview in the full report

Overview Brahima S. Coulibaly and Kemal Derviş

1. multilateralism and dynamic divergence in the global economy eswar prasad and vera songwe, 2. global governance: balancing power and equitable representation kemal derviş and josé antonio ocampo, 3. regional cooperation: a necessary complement to global multilateralism brahima s. coulibaly and elizabeth sidiropoulos, 4. multilateralism and climate change: providing a global public good and following an ethical imperative amar bhattacharya and kemal derviş, 5. from vertical funds to purpose-driven funds: a new approach to multilateralism homi kharas, john w. mcarthur, and dennis snower, 6. liberal democratic values and the future of multilateral cooperation kemal derviş and nathalie tocci, 7. multilateralism, liberal values, and the global south amrita narlikar.

Related Content

Kemal Derviş, Sebastian Strauss

August 9, 2021

• Between 1995 and 2021 the top 1 percent of the global population captured 38 percent of the increase in wealth. See “World Inequality Report 2022.” https://wir2022.wid.world/www-site/uploads/2021/12/Summary_WorldInequalityReport2022_English.pdf .
• Nicholas Stern. “G7 leadership for sustainable, resilient, and inclusive economic recovery and growth.” https://www.lse.ac.uk/granthaminstitute/wp-content/uploads/2021/06/G7_leadership_for_sustainable_resilient_and_inclusive_economic_recovery_and_growth_full_report.pdf .
• United Nations. “Summary of Our Common Agenda Report.” https://www.un.org/en/content/common-agenda-report/summary.shtml .
• Dervis and Strauss, 2021. Responses contained in this survey.

Multilateral Development Organizations

Diplomacy & Multilateralism

Global Economy and Development

Rahul Tongia

November 7, 2024

Michael R. Davidson, Margaret M. Pearson

October 24, 2024

Brahima Sangafowa Coulibaly, Landry Signé, George Ingram, Priya Vora, Rebecca Winthrop, Caren Grown, Belinda Archibong, Brad Olsen, Jennifer L. O’Donoghue, Sweta Shah, Ghulam Omar Qargha

September 19, 2024

Introduction: Globalization in the Twenty-first Century

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• Berch Berberogiu  

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Over one hundred years ago, in 1902, the eminent British scholar and liberal Member of Parliament, John A. Hobson, published a controversial book titled Imperialism: A Study (Hobson 1964 [1902]). A few years later, in 1916, relying in good part on Hobson’s insightful observations on British imperialism, as well as Karl Marx’s historical analysis of the development of capitalism through its various stages of concentration and centralization of capital and its accumulation on a world scale, Vladimir I. Lenin published a provocative exposé of global capitalism in the age of imperialism, titled Imperialism: The Highest Stage of Capitalism , to explain the dynamics of monopoly capitalism operating on a global scale in the early twentieth century (Lenin 1971 [1916]). Today, nearly a century later, we find ourselves in the midst of an intense debate on the relationship between capitalist imperialism of the early- to mid-twentieth century and neoliberal capitalist globalization of the late twentieth and early twenty-first centuries (Berberogiu 2005; 2009).

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The Rise and Apparent Decline of Globalization

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Berberogiu, B. (2010). Introduction: Globalization in the Twenty-first Century. In: Berberoglu, B. (eds) Globalization in the 21st Century. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230106390_1

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Globalization and Its Impact on the 21st Century Global Marketplace Essay

Introduction, globalization: definition and causes, globalization: effects.

Being a ubiquitous phenomenon, globalization has affected a vast number of areas from business to culture, and it continues to have a profound impact on every facet of interactions (Singla, Ahuja, & Sethi, 2017). The business and communication environment has been affected by globalization to a significant degree as well (Aydin, Akinci, & Yilmaz, 2016). The global market has experienced impressive changes, with a massive improvement in the quality of services. The positive changes in product and service quality can be explained by the enhancement of diversity and the promotion of a multicultural dialogue between consumers and companies due to globalization.

Typically defined as the process of expanding multicultural connections between states in an attempt to enhance international communication, globalization can be seen as a direct effect of economic expansion (Menichinelli, 2016). Exploring new horizons, companies enter the realm of the global market, where they have to communicate with a vast range of players (Singla et al., 2017). However, the subject matter can also be interpreted as a process of cultural integration, which is also a legitimate way of viewing the phenomenon since it implies an enhanced dialogue between participants worldwide (Menichinelli, 2016). Among the key causes of globalization, the improvement of global infrastructure and a drop in the number of tariff barriers needs to be mentioned (Singla et al., 2017). Thus, globalization can be seen as a natural process occurring in the context of the modern economy.

General Effects

The phenomenon under analysis has mostly positive effects on the global economy in general. For instance, the introduction of multiple players into the field of the global economy leads to a steep rise in the levels of competition, thus, encouraging organizations to be innovative in their approach toward producing goods, delivering services, and communicating with their target audiences. In addition, the focus on multicultural communication leads to a drop in the number of misunderstandings and errors made by organizations in a cross-cultural dialogue.

Effects on the 21st-century Marketplace

Among the essential effects that globalization has had on the 21st-century marketplace, one must mention a steep rise in diversity levels (Cummings & Worley, 2014). Because of the focus that globalization has placed on intercultural communication, opportunities for catering to the needs of people from a number of socio-cultural and economic backgrounds have emerged (Singla et al., 2017). As a result, companies can attract diverse audiences and appeal to them respectively. Furthermore, the improved communication has led to a better understanding of target audiences’ needs. Thus, the existing demand is satisfied more efficiently due to the impact of globalization on the marketplace and the companies operating in it.

Moreover, globalization has affected supply chain management (SCM) to a considerable extent. With new technological advances and a strong focus on communication, global organizations use the global infrastructure to its best potential. The resulting drop in the instances of delays, product damage, and miscommunication shows that companies explore the opportunities that the global SCM provides to improve their services and meet customers’ needs (Cummings & Worley, 2014). Therefore, it can be assumed that globalization has vastly positive effects on the global marketplace.

Globalization has become an essential part of the modern world. The subject matter affects every aspect and facet of interactions between people worldwide, economic issues not being an exception. The global marketplace has been flourishing because of globalization due to the enhancement of SCM, communication enhancement, and the focus on quality. Furthermore, the recognition of multicultural issues leads to a vast improvement in the management of customer relationships and the dialogue with partners. Therefore, globalization can be seen as one of the crucial factors defining the existence of the 21st-century global marketplace.

Aydin, C., Akinci, M., & Yilmaz, O. (2016). The analysis of visible hand of government: The threshold effect of government spending on economic growth. International Journal of Trade, Economics and Finance, 7 (5), 170-178. Web.

Menichinelli, M. (2016). A framework for understanding the possible intersections of design with open, P2P, diffuse, distributed and decentralized systems. Disegno – The Journal of Design Culture, 3 (01-02), 44-71. Web.

Singla, A., Ahuja, I. P. S., & Sethi, A. P. S. (2017). The effects of demand pull strategies on sustainable development in manufacturing industries. International Journal of Innovations in Engineering and Technology, 8 (2), 27-34. Web.

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IvyPanda . 2021. "Globalization and Its Impact on the 21st Century Global Marketplace." June 17, 2021. https://ivypanda.com/essays/globalization-and-its-impact-on-the-21st-century-global-marketplace/.

1. IvyPanda . "Globalization and Its Impact on the 21st Century Global Marketplace." June 17, 2021. https://ivypanda.com/essays/globalization-and-its-impact-on-the-21st-century-global-marketplace/.

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