Globalization in Five Minutes: The Current State - Manfred B. Steger

Summary

In this video, Manfred Steger discusses the concept of globalization, focusing on its current state. He challenges the idea of 'deglobalization,' which experts argue has emerged due to events like the 9/11 attacks, the 2008 financial crisis, and the COVID-19 pandemic. Instead, Steger proposes the term 're-globalization,' emphasizing the rise of digital connectivity, data flows, and the mobility of ideas. He argues that, although physical movement and trade have slowed, digital interactions and the flow of information have significantly increased, signaling a new phase of globalization that is likely to persist.

Takeaways

• 😀 Globalization experts argue that globalization has reversed into a phenomenon called deglobalization due to recent global events.
• 😀 Key events contributing to deglobalization include the anti-WTO protests, 9/11, the rise of terrorism, the 2008 financial crisis, and the European sovereign debt crisis.
• 😀 The 2010s saw a significant migration crisis, with Syrian refugees, displaced Rohingyas, and Latin American migrants moving towards Europe and the United States.
• 😀 The rise of national populism, including figures like Donald Trump, escalated deglobalization through trade wars and reduced global interaction.
• 😀 The COVID-19 pandemic further interrupted globalization, reducing the movement of people, goods, and services.
• 😀 Deglobalization arguments claim that transnational mobility, trade, and the power of international institutions have significantly decreased.
• 😀 However, the increase in digital connectivity and data flow challenges the idea of deglobalization, with data flow rising 45 times in 10 years.
• 😀 During the pandemic, digital platforms like Zoom became essential for communication, showcasing the increase in virtual interactions.
• 😀 The internet of things and digital advancements have created new ways of connecting and interacting, maintaining global connectivity through data rather than physical movement.
• 😀 The term 'deglobalization' is misleading, and a more accurate term would be 're-globalization,' which reflects the shift towards the mobility of data, ideas, and information.
• 😀 This new phase of globalization, centered on digital interactions and information flow, is expected to continue for a long time.

Q & A

What is the current state of globalization according to experts?

Experts argue that globalization has been reversing, a process referred to as deglobalization. This reversal is linked to events like the 9/11 attacks, the rise of transnational terrorism, the global financial crisis, migration issues, national populism, and the COVID-19 pandemic.

What events have contributed to the process of deglobalization?

Several events have contributed to deglobalization, such as the anti-World Trade Organization protests, the rise of transnational terrorism, the 2008 global financial crisis, migration crises, the rise of national populism, and the COVID-19 pandemic.

What is the argument behind the concept of deglobalization?

The argument is that the mobility of people, goods, and organizations has significantly reduced. This includes decreased international trade volumes, less movement of people across borders, and diminished power of international economic institutions.

Why is the term 'deglobalization' debated in the script?

The term 'deglobalization' is debated because while certain aspects of globalization, like people and things moving across borders, have slowed down, the flow of digital information, data, and ideas has increased significantly, which suggests a shift rather than a full reversal.

What is the alternative term proposed for 'deglobalization'?

The alternative term proposed is 're-globalization,' which refers to the shift in globalization from the movement of people and objects to the mobility of data, information, and ideas, especially in their digital form.

How has the flow of digital data changed in the past decade?

The flow of digital data has increased by 45 times over the past 10 years, reflecting a significant surge in the connectivity of ideas, information, and communication across borders.

What role did the COVID-19 pandemic play in the shift of globalization?

The COVID-19 pandemic accelerated the shift in globalization by emphasizing digital communication tools like Zoom, as people were forced to stay home and conduct business and personal interactions online, enhancing digital connectivity.

What does the 'Internet of Things' refer to in the context of re-globalization?

The 'Internet of Things' refers to the growing network of physical devices, vehicles, and appliances that are interconnected through the internet, enabling new ways of connecting and interacting digitally, which supports the concept of re-globalization.

Why are national populist leaders like Donald Trump mentioned in the discussion of deglobalization?

National populist leaders like Donald Trump are mentioned because their policies, such as initiating trade wars (e.g., with China), are seen as contributing to the reduction of international economic interactions and the rise of nationalism, which aligns with the concept of deglobalization.

How does the shift from the mobility of people to the mobility of information signify a new phase of globalization?

The shift to the mobility of data, information, and ideas marks a new phase of globalization by emphasizing digital connectivity and reducing the need for physical movement of people and goods. This phase is expected to persist long-term.