12.1: Is Globalization Over?

Learning Objectives

By the end of this section, you will be able to:

• Distinguish between globalization as a process or as a condition/outcome
• Understand the processes of globalization as nonlinear, with some elements in regression and others moving in different directions

Is Globalization Over?

Is globalization over? This is an interesting question to ask as this OER textbook is entirely focused on the history of globalization, its dimensions, and the positive and negative effects that come with globalization. To best answer this question, it might be good to separate globalization into two distinct parts: globalization as a process and globalization as a condition, or outcome. As we have seen earlier in this textbook, Steger (2017) has made this distinction as he noted scholars that would write that globalization would lead to more globalization. This reasoning he argued, is tautological, or circular, and does not add much value to analyses. Steger suggests that it is better to understand the globalization as a process and the condition it could create as globality. As discussed in Chapter One, globality denotes when a global society exists marked by intricate worldwide economic, political, cultural, and environmental interrelations and movements, rendering many of the existing borders and limits largely inconsequential. Globalization then comprises a series of processes that seem to shift our current societal state from one of traditional nationality to a more globalized one, this aforementioned condition of globality.

Why could distinguishing between globalization as a process and a condition of globality help answer the original question – is globalization over? If globalization is seen as a series of processes, it permits us to visualize both the advancement and, in some cases, the reversal of certain processes. This means it is best to think of the processes of globalization as nonlinear. For example, as the current era of globalization has been fueled by neoliberal policies that promote capitalistic practices, significant changes in the global economy could indicate if globalization is progressing or regressing. International business scholar, Michael Witt (2019) has measured such shifts. First, he notes a marked drop in trade and foreign direct investment (FDI) amongst countries. He contends that imports and exports peaked in 2007 and have been in a consistent downward trend since then. The same pattern holds for FDI as well, though there was a dip for the dot.com bubble bursting in 2000 that did not exist for trade. Witt points to the Global Financial Crisis, more commonly referred to as the Great Recession in the U.S., as the inflection point. In these cases, certain processes have reversed, and interdependence has been lessened.

Understanding that certain social processes have shifted or even reversed, we can also see that some outcomes have continued to move the world more towards globalization. For example, global flows of people have increased since the end of the COVID-19 pandemic, with the numbers of migrants and refugees reaching a peak in 2023 (World Bank, 2023). In addition, global information flows surged during the pandemic. As most of the world’s societies were forced to lock down to help contain the spread of the virus, people turned to the internet. Indeed, international internet traffic grew during the pandemic (Altman & Bastian, 2022). This is also seen in music, where the ease of distribution through multiple digital platforms, has allowed artists to reach audiences that were considered unreachable before. The democratization of the industry by streaming services has empowered independent artists, enabling them to garner exposure and compete globally. Consequently, there have been shifts in revenue streams, with artists now earning a substantial portion of their income from streaming royalties and digital downloads. We see here processes that are  moving forward towards even greater interconnectedness.

Table 12.1.1 catalogues the complexity of the processes of globalization.

Table 12.1.1: Types of Globalization as Processes

Type of Globalization	As a Process
Economic	Reversing, but not necessarily in a linear fashion; potentially leading to weakening economic interdependence.
Political	Reversing in a linear fashion; evidence that political interdependence has weakened.
Cultural	Progressing in a non-linear fashion; cultural interdependence has strengthened but in new and different ways.

Effects of Globalization

In addition to the types of globalization listed above, this textbook has explored the effects of globalization. Overall, each effect of globalization has seen its impact increase. Global inequality, insecurity and hunger have worsened, as have global health disparities and environmental challenges. Thus, even if overall levels of global interdependence may be decreasing, the effects of globalization are still relevant and in almost all cases, each effect has increased in impact since the COVID-19 pandemic. Table 12.1.2 illustrates each effect.

Table 12.1.2: Have the Effects of Globalization Increased or Decreased?

Effect of Globalization	Increased/Decreased
Global Inequality	Inequality has increased since the pandemic.
Global Insecurity	Insecurity has increased since the war in Ukraine.
Global Food Disruption & Hunger	Food disruption and hunger have increased since the pandemic.
Global Health Disparities	Health disparities have increased since the pandemic.
Global Energy Flows	Energy flows have increased since the war in Ukraine.
Global Environmental Challenges	Environmental challenges have increased since the pandemic ended.

To understand these different processes, the rest of the chapter will be divided into examining two major trends – alter-globalization and de-globalization. It will then end with some final thoughts on the future of globalization before exploring possible career paths for Global Studies majors.