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Globalization


Synopsis


"Globalization" has become a popular buzzword for explaining today's world. The expression achieved terminological stardom in the 1990s and was soon embraced by the general public and integrated into numerous languages.

But is this much-discussed phenomenon really an invention of modern times? In this work, Jürgen Osterhammel and Niels Petersson make the case that globalization is not so new, after all. Arguing that the world did not turn "global" overnight, the book traces the emergence of globalization over the past seven or eight centuries. In fact, the authors write, the phenomenon can be traced back to early modern large-scale trading, for example, the silk trade between China and the Mediterranean region, the shipping routes between the Arabian Peninsula and India, and the more frequently traveled caravan routes of the Near East and North Africa--all conduits for people, goods, coins, artwork, and ideas.

Osterhammel and Petersson argue that the period from 1750 to 1880--an era characterized by the development of free trade and the long-distance impact of the industrial revolution--represented an important phase in the globalization phenomenon. Moreover, they demonstrate how globalization in the mid-twentieth century opened up the prospect of global destruction though nuclear war and ecological catastrophe. In the end, the authors write, today's globalization is part of a long-running transformation and has not ushered in a "global age" radically different from anything that came before.

This book will appeal to historians, economists, and anyone in the social sciences who is interested in the historical emergence of globalization.

Jürgen Osterhammel, Niels P. Petersson

Summary

Chapter 1: The Meaning and Measurement of Globalization

* Summary: Globalization refers to the interconnectedness and interdependence of the world's economies, cultures, and populations. It is measured using various indicators, such as trade flows, financial transactions, and people's movements.
* Real Example: The increase in global trade since the 1980s, with emerging economies like China and India becoming major exporters.

Chapter 2: The History of Globalization

* Summary: Globalization has been evolving over centuries, but accelerated in the late 20th century with advances in transportation, communication, and technology. Key factors include the Industrial Revolution, colonialism, and the rise of global trade.
* Real Example: The Silk Road, an ancient trade route connecting Asia and Europe, facilitated the exchange of goods, ideas, and cultures.

Chapter 3: The Drivers of Globalization

* Summary: Globalization is driven by various factors, including technological advancements, economic liberalization, political cooperation, and social movements.
* Real Example: The internet has enabled cross-border communication and facilitated global e-commerce.

Chapter 4: The Impact of Globalization on Countries

* Summary: Globalization has both positive and negative impacts on countries. Economic benefits include increased trade and investment, while potential downsides include inequality, environmental degradation, and cultural homogenization.
* Real Example: Developing countries have experienced economic growth due to increased exports, but also face challenges such as job displacement and environmental pollution.

Chapter 5: The Impact of Globalization on Business

* Summary: Globalization provides businesses with opportunities for growth and innovation, but also poses challenges related to competition, supply chains, and cultural differences.
* Real Example: Multinational corporations have expanded globally, accessing new markets and reducing production costs.

Chapter 6: The Impact of Globalization on Society

* Summary: Globalization affects society in various ways, including the spread of ideas and values, the movement of people, and the changing nature of work.
* Real Example: Social media platforms have facilitated global communication and activism, but also raise concerns about privacy and misinformation.

Chapter 7: The Future of Globalization

* Summary: The future of globalization is uncertain, but trends suggest a continuation of economic integration and technological advancements. Potential challenges include rising nationalism, climate change, and inequality.
* Real Example: The COVID-19 pandemic has highlighted the interdependence of economies and the importance of global cooperation.