Recent Wave Of Globalization Research Articles

Talking about security in the era of high-tech and green-tech: China’s empathy with Russia and the rare earths trade with the West

ABSTRACT As high technology and green transition gain momentum in modern life, global supply chains of resources like rare earths become vital. China is the dominant actor in this market, Russia already holds a strategic niche albeit as an emerging actor, whereas the West is a “latecomer”, lagging considerably behind. Against the backdrop of ever deepening geopolitical fault lines, the article views the China/Russia – West rare earths trade through the lenses of weaponized interdependence. In particular, it employs this theoretical account for the first time from a non-Western angle and proves that in the recent wave of globalization not all the most central nodes are territorially concentrated in the advanced economies of the West. Moreover, it demonstrates that the West’s domination of relevant innovation cycles is not as absolute and autonomous as propounded by the theory. The conclusions summarize China’s (and Russia’s) panopticon effects on the rare earths trade with the West, and show that should their security concerns be overlooked, they are likely to escalate to chokepoint effects to the detriment of the global economy.

The effects of the globalization process on developing countries

Globalization is the process by which the world is interconnected through technology and powerful infrastructure for the purpose of communicating and managing resources. Globalization seems to talk about several vibrant phenomena which ensure two major components. Firstly, they function across national boundaries and secondly, they result in higher incorporation or interdependence of human societies. It is therefore one aspect of development that affects the world in general, from every point of human view. This paper tries to present from a historical perspective, financial globalization is not a new phenomenon, but the depth and breadth of globalization today are unprecedented. The recent wave of globalization has generated an intense debate among economists, attracting both strong supporters and opponents. This paper tries to present a balanced view of financial globalization,outlining the benefits and risks that globalization entails for developing countries and emerging markets. The paper revisits the arguments and evidence that can be used in favor of and against globalization. Starting from here in this paper is implemented analysis and are given answers how today in the era of globalization the economic allocated in the world economy, the causes for the weakness in the global economy and the transformation of power in the world economy.

The importance of knowledge for wellbeing of society in the contemporary world

Following the recent wave of globalization, the possession of different types of knowledge became even more important for economic development than the possession of physical resources. The ability of a society to adopt existing and create new knowledge thus gained fundamental importance for its wellbeing. In this paper, we identify important aspects of the relationship between education, creation of knowledge, economic growth, as well as both material and immate?rial wellbeing of a society. We describe potential problems that prevent societies from maximizing the benefit from the effort its members invest in acquiring knowledge. The problems of failure of the national markets for education as well as the global migrations which lead to drain of knowledge towards economically highly developed countries are especially analyzed. In the long run, they lead to a decline in both national competitiveness and different aspects of the immate?rial wellbeing. As the basis for solving these problems we propose a combination of economic theory and the concept of solidarity between more and less devel?oped countries, individuals and societies of their origin, respecting the free will of individuals.

The Effects of Global Interaction on Poverty in Developing Countries, 1991-2005

While previous studies have examined the impact of globalization on a myriad of welfare outcomes in developing countries, the effect of cross-national exchanges on extreme poverty remains unexplored. Poverty has declined substantially during this most recent wave of globalization, suggesting that cross-border relations may be partially responsible. We test this proposition by estimating the impact of foreign direct investment (FDI), trade openness, and the presence of international non-governmental organizations (INGOs) on poverty, measured at both the $1.25-a-day (extreme poverty) level, and the $2.50-a-day (moderate poverty) level, net of domestic conditions. Using a sample of 114 developing countries over five waves of data collected from 1991 to 2005, results from random effects models show that FDI exhibits a positive relationship with poverty at the $1.25 and $2.50 levels, while trade openness demonstrates a negative relationship with both extreme and moderate poverty. Once domestic conditions are controlled, INGO participation fails to demonstrate a significant effect on poverty at either level. Among domestic variables, economic growth and fertility rate affect poverty at the $1.25 level, while growth and domestic investment demonstrate an effect at the $2.50 level. These findings confirm that global interaction by poor countries influences poverty reduction within these countries, but in different directions.