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To what extent is the current global economic crisis (ostensibly 2008present) a product of globalisation - Essay Example

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To what extent is the current global economic crisis (ostensibly 2008present) a product of globalisation

Generally, as connection between economies is strengthened, the consequences are always an increased competition, but also increased opportunity (Faundez 2010, p. 226-29).
An analysis of contemporary and historical patterns of the imperial structures, US political preference, and globalization in the era of Post-World War II has been conducted. From this analysis, it was established that the present-day globalization is rooted in some orchestrated political developments in US. It is also seen as progressing along the dimensions and stages linked by not many pivotal turning points. This present-day globalization results in a situation where the US auspices dictate the global order that is increasingly dominating the inter-state system.
In this error of totalizing globalization, the US Empire and globalization have very substantial overlap. The global structures seen in the later day must be primarily because of more or less fortuitous political engineering by councils of American political preferences, whose aim is to harness, shape, and reconstitute the international order. all these are done to favor and benefit the America’s neo-imperial purposes. This makes globalization today to have an indelible imprint placed by the American imperial steamroller way back in twentieth century. The globalization is also a result of more or less practices, preferences, and liberal ideologies.The bailout bill that is going to be highlighted in this paper will further expound of the political aspect of the globalization.
Ritzer (2011, p 99) argues that delocalization has not only affected the individuals but it has also affected the neighborhood institutions. Delocalization has led to many adverse effects among which, is the reduction of the authority of the national governments to control and have an influence on their economies, in this case, the macroeconomic management. When the economic activity shifts, for instance In United States or Japan, ...Show more
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28), globalization is defined as the process through which the interdependence and connectivity of the world’s businesses and markets is increased. Globalization has accelerated dramatically in the past two decades following the technological…
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