The Implications Of Hyperglobalist Globalization On World Regions

1249 words - 5 pages

Even though the globalization skeptics and the transformationalists both have viable interpretations of globalization, I believe that the hyperglobalist perspective is the most accurate. The evidence for hyperglobalization is found all over the world, but for the purposes of this paper, I will focus on the expansion of NAFTA, the 2004 Indian Elections, and the increasing global outsourcing of labor. I will then outline the implications of hyperglobalist globalization on world regions and the regional approach.
Evidence for the hyperglobalist perspective of globalization is everywhere, starting right at home in America with the proposed FTAA (Free Trade Area of the Americas). According to Christopher Bruner, professor of law at the University of Miami, “The Free Trade Area of the Americas was initially proposed as the ‘trade liberalizing cornerstone’ of President George Bush’s Enterprise for the Americas Initiative, a broad-scale plan to ‘unify the Western Hemisphere’ enacted in 1990. The Process of creating an FTAA actually began, however, with the first ‘Summit of the Americas’ held in Miami in 1994, at which the thirty-four democracies of the Western Hemisphere – essentially the entire hemisphere minus Cuba – committed themselves to pursuing the creation of an FTAA by 2005.” If the FTAA were created, it would be the largest free-trade zone in the world, including 34 countries and a market of about 800 million people. It would also allow North American businesses to have duty-free access to Latin American. Additionally, it would allow Caribbean markets and those countries within Latin America to export goods to America without tariffs. The issue is still being debated today and heads of the initiative have called for the Sixth Summit of the Americas to be held in Cartagena, Colombia in 2012.
Additional evidence for hyperglobalization can be found on the opposite side of the world. In 2004, India held an election that was dominated by television advertisements that were supported and created by transnational corporations. The governing party in India at the time, Bharatiya Janta, commissioned a powerful global corporation called Grey Global Group to create a campaign to show the important role the government played in the country’s recent economic advances. At the same time, another global corporation called Publicis Worldwide worked on an ad campaign for the opposition party, Indian National Congress. The opposition campaign was designed to reach out to those in India who did not benefit from their recent economic boom. Before the 2004 election, India was used to seeing grassroots movements and much more localized election strategies. According to Giorgio Shani of Ritsumeikan University, “Globalization, in the forms of marketization, privatization and structural adjustment, has resulted in a decreased role for the state in the economic sphere and increased dislocation and uncertainty for many people in South Asia.” Surely, evidence for the...

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