Globalisation Class 12 Notes Political Science Chapter 9 - CBSE

Economic Consequences

• Economic facets of globalisation shape a large part of the content and direction of contemporary debates surrounding globalisation.
• A much broader way of understanding of economic globalisation requires us to look at the distribution of  economic gains,i.e. who gets the most from globalisation and who gets less,indeed who loses from it.
• Economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries.
• Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced.
• Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.
• Globalisation has also led to the flow of ideas across national boundaries. The spread of internet and computer related services is an example of that.
• Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.
• Globalisation has also led to the flow of ideas across national boundaries. The spread of internet and computer related services is an example of that.
• But globalisation has not led to the same degree of increase in the movement of people across the globe. Developed countries have carefully guarded their borders with visa policies to ensure that citizens of other countries cannot take away the jobs of their own citizens.
• Economic globalisation has created an intense division of opinion all over the world. Those who are concerned about social justice are worried about the extent of state withdrawal caused by processes of economic globalisation.
• They have emphasised the need to ensure institutional safeguards or creating ‘social safety nets’ to minimise the negative effects of globalisation on those who are economically weak.
• Some economists have described economic globalisation as recolonisation of the world.
• Advocates of economic globalisation argue that it generates greater economic growth and wellbeing for larger sections of the population when there is de-regulation. Greater trade among countries allows each economy to do what it does best.
• More moderate supporters of globalisation say that globalisation provides a challenge that can be responded to intelligently without accepting it uncritically.

Cultural Consequences

• In our home, in what we eat, drink, wear and indeed in what we think. It shapes what we think are our preferences.
• The cultural effect of globalisation leads to the fear that this process poses a threat to cultures in the world. It does so,because globalisation leads to the rise of a uniform culture or what is called cultural homogenisation.
• The rise of a uniform culture is not the emergence of a global culture. What we have in the name at the same time, it would be a mistake to assume that cultural consequences of globalisation are only negative.
• Cultures are not static things. All cultures accept outside influences all the time.
• Some external influences are negative because they reduce our choices. But sometimes external influences simply enlarge our choices, and sometimes they modify our culture without overwhelming the traditional.
• While cultural homogenisation is an aspect of globalisation, the same process also generates precisely the opposite effect.
• It leads to each culture becoming more different and distinctive. This phenomenon is called cultural heterogenisation.