Globalisation What difficulties are there in defining globalisation? To what extent is globalization in the late twentieth century a new trend? Outline the debates regarding the economic benefits of globalization.

TOPIC 1: GLOBALISATION

February Examination:

What difficulties are there in defining globalisation? To what extent is globalization in the late twentieth century a new trend? Outline the debates regarding the economic benefits of globalization.

There are today so many definitions of globalization that one would think that defining it is an easy task. However that seems not be the case. An accepted definition neither exists in science, nor in the broader public debate. For the most part, globalisation theorists appear scrupulously aware of the plethora of competing globalisation definitions and of the difficulties attached to the project of creating a cohesive and complete definition. Despite this fact, they have not been discouraged from proposing their own authoritative definitions of globalisation. Common awareness among the globalisation theorists was found concerning the difficulties inherent in defining globalisation. These theorists observed that globalisation theories draw on a variety of different and sometimes conflicting perspectives, that the nature of globalisation is reliant upon one's theoretical point of view.

Globalization

Globalization to the advantage - 2010-09-16

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Furthermore, depending upon the observer's preferences, globalisation can be understood and interpreted differently and that there is no concession on a common explanation of the nature of globalisation.

The literature branching from the debate on globalisation has grown in the last decade beyond any individual's capability of extracting a feasible definition of the concept. In a sense the meaning of the concept is self explanatory, on the other hand, it is as vague and incomprehensible, as its reaches are wide and constantly shifting. There are three expressions of this phenomenon, international trade, international investment and international finance. Nevertheless, globalisation can be referred to as "a process associated with increasing economic openness, growing economical independence and deepening economic integration in the world economy" (Nayyar, 2006).

"Economic globalisation is not a new phenomenon. Trade, capital and people have...