All about Globalisation

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Globalisation envisages a borderless world or seeks the world as a global village. It may be attributed by the accelerated flow of goods, people, capital, information, and energy across borders, often enabled by technological developments.

However, isolationism forced by Covid-19 pandemic has paused the growth of globalisation in the world. Though the pandemic has hastened globalisation’s decline, protectionism has been increasing since the global financial crisis 2008.

The increased unemployment, growing inequality and anaemic growth in the aftermath of the global financial crisis, particularly in the developed world, are the main reasons for the rise of protectionism all across the globe.

In this context, there is a debate all around the world regarding the sustainability of globalisation in the future.

Rise of Globalization

Pros of Globalisation

Access to Goods and Services

Vehicle of Social Justice

Increases Cultural Awareness

Sharing Technology and Values

Decline of Globalisation

The global financial crisis was a turning point, as it struck at the twin foundations of liberal democracy and free-market capitalism.

Cons of Globalisation

Increasing Inequality

Malpractices of MNCs

Fail to Contribute Towards Desired Gains

Contribute Towards Cultural Homogeneity


Given its enormous potential for economic gains, it would be a waste to categorically repudiate the phenomena of Globalisation. Instead, there is a need for better understanding of Globalization’s effects and the interplay of its economics with other issue areas.

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