The 3 Waves of Globalisation

As part of my Degree in Business Management I have had to research globalisation and the 3 waves of globalisation; Hyperglobalists, Sceptics and Transformationalists.

Here are my thoughts:

Hyperglobalism: Hyperglobalists believe in a single, global economy and that globalism will bring a new era to the world that will see the end of states as we know it. They believe that states cannot run their own economies and global organisations like the world bank, WTO and the IMF are required to run this new, stateless, global economy.

Sceptics: This side of the argument believe that the effects of globalism are overstated, and believe that globalisation is only happening within richer countries. Sceptics also believe that the world is being split into economic blocs and that the end of states will not happen via globalisation.

Transformationalists: My personal opinion most aligns with Transformationalism. This wave of globalism believe that it is the main force pressing political, economic and social levels and that there is a new world order that requires adapting to.

Personally I believe that globalisation will influence international regulations that require changes due to the change in trade across the world. Globalism is not new - metals, spices and tea have been traded internationally for centuries -  however, with the assistance of technology and scale, this will be more prolific. I also believe that a global economy does exist (such instances such as the global crash show this) but states are still important and it is the role of states to govern their section of this global economy.