The Future of Globalization: Political, Social and Economic Aspects

Abstract

Globalization passed a golden era at the
end of the 20th century, particularly from
the decline of the Soviet Union. Several
theorists significantly traced the upcoming
spectacular days of globalization
grounded by liberalism. Fukuyama is one
of the crucial theorists here; his research,
the end of History (1989) notably argued
the end of ideological evolution,
particularly the ideologies like socialism
and fascism lost their credibility. He
argued liberalism is the final form of
human government which significantly
promoted globalization. Global trade
volume increased dramatically, and its
share of GDP jumped from 38% to 61%
between 1990 and 2008. Multinational
companies like Mcdonald's, Unilever,
Coca-Cola, FedEx, and Apple spread their
market globally. Nation-states faced major
threats where borderless societies were established, and multiculturalism was
promoted worldwide. These means of
globalization significantly promoted
Western hegemony.

However, the discontented thesis came out
within a concise term. Stiglitz's research
Globalization and its Discontents (2002) is
notable here, which disagreed with the
globalization phenomenon regarding
“unfair” global trade from the perspective
of the global south or developing
countries. The global economic crises of
2008-09 particularly threatened economic
globalization. The international trade
volume decreased from 61% to 52%.
Many people lost their jobs, and severe
crises came before economic
globalization. Migration and different
cultural shocks from many aspects treated
social globalization. Growing populism
across Europe shocked political
globalization. Brexit and several actions
by ultra-nationalist leaders (like Viktor
Orban of Hungary and Donald Trump of
the US) made the situation more
complicated. Democracy faces major
hurdles worldwide where authoritarian or
hybrid regimes appear from several
perspectives. Liberal democracy faces
challenges from within because of
emerging populism and extreme
nationalism. Voices affirmed antiglobalization and localization. In this
aspect, China became the center of
attention in global politics. Along with
China, other emerging countries, i.e.,
members of BRICS, are significant here,
posing a severe threat to Western
hegemony.

Along with these developments, Covid-19
was a notable incident in examining the
perception of globalization in this century.
The "my country first" strategy
dramatically impacted global attitudes.
Many European Union members,
particularly those with smaller economies
or populations, spoke out against the
larger nations' failure to act to tackle the
worsening situation with COVID-19. The
border appeared again after the world
experienced several months of lockdown.
The practitioners are in confusion to
forecast the future of globalization. Some
are predicted to decline globalization, and
others are the opinion on the continuity of
globalization.

This article analyzes globalization's
future, particularly from political, social,
and economic aspects. This research
claimed that globalization faces several
challenges from these three aspects where
states within borders, big states, and a
multipolar world are seen as reality.
Following these issues, a significant
transformation in global politics is
inevitable.

Full text

440
KÜRESELLEŞMENİN GELECEĞİ:
SİYASİ, SOSYAL VE EKONOMİK
YÖNLERİ
Hafijur RAHMAN•
Özet
Küreselleşme, 20. yüzyılın sonlarından
özellikle Sovyetler Birliği'nin
gerilemesinden itibaren altın bir çağ
geçirmiştir. Bazı teorisyenler, liberalizm
tarafından temellendirilen
küreselleşmenin yaklaşan muhteşem
günlerinin önemli ölçüde izini takip
etmiştir.Küresel ticaret hacmi giderek
artmış, ulus-devletler büyük tehditlerle
karşı karşıya kalmış, sınırsız toplumlar
kurulmuş ve dünya çapında çok
kültürlülük teşvik edilmiştir.
Küreselleşme araçları ise Batı
hegemonyasını önemli ölçüde
desteklemiştir. Ancak kısa bir zaman
sonra memnuniyetsiz tez ortaya çıkmıştır.
2008-09’da yaşanan küresel ekonomik
krizler, özellikle ekonomik
küreselleşmeyi tehdit etmiştir. Göç, sosyal
küreselleşmeyi birçok yönden farklı
kültürel şoklarla tedavi etmiştir. Aşırı
milliyetçilik ve popülizm ise siyasi
küreselleşmeye şok etkisi yaratmıştır. Bu
gelişmelerle birlikte Covid-19, içinde
bulunduğumuz yüzyılda küreselleşme
algısının incelenmesinde önemli bir olay
olarak belirmiştir. Araştırmacılar,
küreselleşmenin geleceğini tahmin etme
konusunda kafa karışıklığı içine düşerek
bazıları küreselleşmenin gerileyeceğini
öngörürken, bazıları da küreselleşmenin
devam edeceği yönünde görüşe sahip
olmuşlardır. Bu makale, küreselleşmenin
geleceğini özellikle siyasi, sosyal ve
• Asst. Prof. Dr. Tokat Gaziosmanpaşa University, Department of Public Administration, hafijdu@gmail.com ORCID: 0000-0001-
7945-6307
ekonomik açılardan incelemeyi
amaçlamaktadır. Bu araştırma,
küreselleşmenin, sınırlar içinde devlet,
yükselen güçler ve çok kutuplu bir
dünyanın gerçeklik gibi göründüğü bu üç
yönden çeşitli zorluklarla karşı karşıya
olduğu iddiasını taşımaktadır. Bu
bağlamda da küresel siyasette önemli bir
dönüşümün kaçınılmaz olacağı kuvvetle
muhtemeldir.
Anahtar Kelimeler: Küreselleşme,
Liberalizm, Popülizm, Demokrasi, Covid-
19, Yükselen Güçler
THE FUTURE OF
GLOBALIZATION: POLITICAL,
SOCIAL AND ECONOMIC
ASPECTS
Abstract
Globalization passed a golden era at the
end of the 20th century, particularly from
the decline of the Soviet Union. Several
theorists significantly traced the upcoming
spectacular days of globalization
grounded by liberalism. Fukuyama is one
of the crucial theorists here; his research,
the end of History (1989) notably argued
the end of ideological evolution,
particularly the ideologies like socialism
and fascism lost their credibility. He
argued liberalism is the final form of
human government which significantly
promoted globalization. Global trade
volume increased dramatically, and its
share of GDP jumped from 38% to 61%
between 1990 and 2008. Multinational
companies like Mcdonald's, Unilever,
Coca-Cola, FedEx, and Apple spread their
market globally. Nation-states faced major
threats where borderless societies were

441
established, and multiculturalism was
promoted worldwide. These means of
globalization significantly promoted
Western hegemony.
However, the discontented thesis came out
within a concise term. Stiglitz's research
Globalization and its Discontents (2002) is
notable here, which disagreed with the
globalization phenomenon regarding
“unfair” global trade from the perspective
of the global south or developing
countries. The global economic crises of
2008-09 particularly threatened economic
globalization. The international trade
volume decreased from 61% to 52%.
Many people lost their jobs, and severe
crises came before economic
globalization. Migration and different
cultural shocks from many aspects treated
social globalization. Growing populism
across Europe shocked political
globalization. Brexit and several actions
by ultra-nationalist leaders (like Viktor
Orban of Hungary and Donald Trump of
the US) made the situation more
complicated. Democracy faces major
hurdles worldwide where authoritarian or
hybrid regimes appear from several
perspectives. Liberal democracy faces
challenges from within because of
emerging populism and extreme
nationalism. Voices affirmed anti-
globalization and localization. In this
aspect, China became the center of
attention in global politics. Along with
China, other emerging countries, i.e.,
members of BRICS, are significant here,
posing a severe threat to Western
hegemony.
Along with these developments, Covid-19
was a notable incident in examining the
perception of globalization in this century.
The "my country first" strategy
dramatically impacted global attitudes.
Many European Union members,
particularly those with smaller economies
or populations, spoke out against the
larger nations' failure to act to tackle the
worsening situation with COVID-19. The
border appeared again after the world
experienced several months of lockdown.
The practitioners are in confusion to
forecast the future of globalization. Some
are predicted to decline globalization, and
others are the opinion on the continuity of
globalization.
This article analyzes globalization's
future, particularly from political, social,
and economic aspects. This research
claimed that globalization faces several
challenges from these three aspects where
states within borders, big states, and a
multipolar world are seen as reality.
Following these issues, a significant
transformation in global politics is
inevitable.
Keywords: Globalization, Liberalism,
Populism, Democracy, Covid-19,
Emerging Powers