The End of Globalization and the Beginning of Something New
Globalization has increased collaboration among countries based on their shared values rather than their geography or geographic proximity. During globalization, the shared value was economic wealth which was not equally distributed. In the next video, O'Sullivan argues that the shared values in this new period of post-globalization are ecological and human well-being.
This does not mean Tobler's First Law of Geography no longer applies. Countries still have more in common with their neighbors than distant countries due to their shared physical and cultural landscapes. However, communications technologies have made it possible to collaborate with geographically-distant countries in real time. They have accelerated interaction and integration among people, companies, and governments worldwide.
As we study the world's regions, we explore the concepts we have discussed above, such as language, religious practices, political and economic systems, birth and death rates, and the role of colonialism. A regional approach helps us organize the complexity of the world.
Watch this video where Mike O'Sullivan, an economist, investor, and author, presents his perspective on globalization. He highlights two commonly-accepted limitations of globalization: inequality and record-level indebtedness. Do you agree with his claim that globalization is "on its deathbed"?
Source: Mike O'Sullivan, https://www.ted.com/talks/mike_o_sullivan_the_end_of_globalization_and_the_beginning_of_something_new
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