Impacts of globalization
Generally, the more advanced economies, which have the ability to compete in open markets, face opportunities, while those less able to compete, such as sub-Saharan African countries, face challenges. For proponents such as Hayek (1978), Samuel Brittan (1977), and Hutt (1979), only market democracy constitutes genuine democracy, and state involvement in economic activity-as in the welfare state system-represents the transfer of control from the people and market democracy to politicians and coercive interest groups.ĭespite the polarization of views, globalization appears to present gains and opportunities to some and losses and challenges to others both within and among countries.
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They note that the more limited the role of the state, the more the sphere of public decisions narrows, resulting in hollow democracy. With regard to the relationship between globalization and democracy, opponents argue that globalization reduces democracy to mere electoral contestations with little of substance determined by popular vote. In the twentieth century Japan, South Korea, and Taiwan promoted industrialization through a number of state-instituted policy measures, including land reform, targeting of investments and credits to selected industries, and the protection of young industries, and by providing extensive support for marketing and research facilities. In the nineteenth century, countries like France, Germany, and the United States, in an effort to develop national industries, counteracted British hegemony through nationalist economic strategies that included protective tariffs and credit facilities from state banks. During the eighteenth century, Britain stimulated industrialization, especially in the area of textiles, not only by imposing tariffs on imports from India and China but also by outlawing the wearing of some imported items. The Dutch Golden Age of the seventeenth century, for example, was perpetuated by strong state involvement in the importation of raw materials and exportation of manufactured goods. There is also strong historical evidence that countries that have successfully industrialized did so behind protectionist policies and strong state involvement in their economies. Others show that the claim is at best contentious. Proponents of globalization assert that there is a strong positive relationship between the "openness" attained by reducing the allocating and regulatory roles of states and success in industrial development and socioeconomic transformation in those states. Claims of cultural hybridization or cultural deterritorialization, however, grossly understate the disparity in the levels of influence reflected in the imbalance of the control of capital, technology, and media outlets between the advanced West and the developing world.
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Others contend that, along with economic boundaries, cultural boundaries are coming down and culture without space is emerging.
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Anthony Giddens, for example, claims that global economic and cultural influences are mutual since, as the West is increasingly influenced by the rest of the world, "reverse colonialism" has become more common. The global cultural interconnectedness that has expanded with the rise of economic interconnectedness is also often viewed as Western cultural imperialism. Some even view it as a veil for imperialist domination of the developing world. Critics, however, attribute to globalization a long list of societal ills, including rising inequality and poverty, environmental mismanagement, and the narrowing of the scope of democracy. Proponents credit globalization with promoting global prosperity, peace, stability, and democracy. Views on the positive or negative impact of globalization are also highly polarized.