Global Transformation

825 Words 4 Pages
The global transformation process functions and operates in multi-faceted dimensions and influences several complex systems that structure society (Held et al 1999), including many aspects of economics, politics, culture and the environment. Economic development is regularly distinguished as the most advanced aspect of globalisation, itself containing significant components that are recognised in shaping inter-connected global activity, such as finance, production and trade (Newman and Thornley 2000). Delineated here are the complex theoretical questions focused on the geographical foundations and scales of economic growth, with critical analysis based on the distinctiveness of the economy of Birmingham and the parallels linking aspects of …show more content…
Commentators postulate the importance of the economic factor, reinstating its degree of significance, regarding it as a major catalyst of the globalisation phenomenon. Transversely, several sectors, including the business sector and the social sciences have acknowledged the growing economic interdependency between countries. Here the popular view of globalisation is amalgamated, whereby the development and growth of a single global market relinquishes the meaning of nation-state borders (Held et al. 1999). Despite this assertion, equating globalisation fundamentally with the notion that modern development involves a mere dissemination of economy activity, or the transformation of the economic order into a deliquesced space of flows, fails to recognise the reality of complexities involved. Paradoxically, globalisation has been accompanied by the reassertion of agglomerative tendencies in many different areas of the world, in part due to the obliqueness and competitiveness associated with globalisation (Puga 1999).
Capello (2011) postulated that globalisation is not a new phenomenon as it is frequently recognised; arguing that the preceding century observed high levels of globalisation, possibly comparable to today. Nevertheless, Capello acknowledges a new dimension of globalisation where ‘long-term, contemporary acceleration of many parallel integrating processes reinforce and amalgamate each other in multiple ways’ (2011:1), highlighting

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