Is it true that there is now a single global economy? PLAN -what is the meaning of globalization is globalisation taking place -internationalist and transformationlist views plus criticisms -globalists approach -criticisms of the globalist approach -economic relations draw conclusions based on the evidence gathered INTRODUCTION Globalists take the view that globalization is a real and tangible phenomenon. They argue that there has been a significant shift in the geography of social relations and those social processes now operate predominantly at a global scale. Optimistic or positive globalists point to the benefits of globalization and see the results of globalizing influences as a change to be welcomed. Pessimistic globalists, by contrast, see the world as becoming less diverse and more homogeneous. They emphasize the dominance of major economic and political interests.
Traditionalists are sceptical about globalization. They dispute the notion that there is evidence of fundamental or systemic shift in social relations. They believe that globalization is a myth or at any rate is much exaggerated as a distinctively new phenomenon, and emphasize continuities between the past and present. Traditionalists argue that in spite of increases in global flows of trade and money around the world, these are not substantially different to the economic and social interactions that have occurred between nations in previous historical times.
Transformationalists approach seeks to move beyond the sometimes arid debate between the globalists and the traditionalists. Transformationalists reject the polarity of globalist and traditionalist perspectives. They agree with the traditionalists that the globalists have exaggerated their case. They argue that nation-states remain militarily, economically and politically powerful. So transformationalists believe that globalization represents a significant shift, but question the inevitability of its impacts....