Essay on Globalisation: World 3.0, Giddens' Ideas, and Trade's Impact

This essay provides an analysis of globalisation, examining different perspectives and strategies. It begins by introducing the concept of globalisation and its expansion through international business. The essay then delves into Pankaj Ghemawat's 'World 3.0' theory, which challenges the notion of a ful...Read More

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INTRODUCTION
Globalisation is the process through which domestic business expands
globally in different countries either by establishing offices in those
countries or by delivering products through export. In this context, the
following report will focus on the analysing the three individual
components that highlights different aspects of the globalisation. The
ideas on globalisation in order to enhance the comprehensive
understanding will be discussed in this essay.

World 3.0
 For several years global thinkers believe that the world is flat and
all the nations are interconnect with each other sharing their
borders and culture with each other.
 Pankaj Ghemawat, Professor of Global Strategy at IESE Business
School in Barcelona shared a different view and contradicts on
the statement by connoting that “The world we are living is not
as globalised as we think”.

Cont.
 He stated that out of total telephone calls placed in year 2010,
only 2 per cent calls were cross borders. By summing up online
calls, the percentage raised to 6 to 7 per cent.
 Author straightforwardly said that the social media networking
sites such as Facebook, people weren't as global as they think. He
said that only 10 to 15 per cent of total Facebook friends of an
individual are from out of country.

Anthony Giddens’ ideas on globalisation
 He defines globalisation as an
augmentation of relations between
society living in different countries by
creating nexus in such a manner that
domestic occurrence are designed by
events and shared adequately with the
help of enrich sources of
communication and internet to people
living miles away.

Cont.
 Gidden proposed four dimensions of globalisation. The first dimension is the world
capitalists economy.
 The first dimension is the world capitalists economy. The core focus of strengths in the
world's financial state are the capitalists states where the enterprise in the capitalists
economy is the primary form of production.
 The second dimension of globalisation is nation-state system which has lengthy
involvement in the reflexivity traits of modernity as a whole.
 World military weaponry is the third dimension of globalisation where the stupendous
catastrophic powers of contemporary armoury is possessed by almost all states and
countries.
 Industrial development is the fourth dimension of globalisation in which the most

The “End of Poverty” movement and the contrary
assertion that “Trade NOT aid” is the way to a more
globalised world that mitigates against poverty.
 Poverty is considered as one of the major challenges that affects country' s governance
policies.
 Trade not aid is the strategy which is used by the developing countries which is based
upon idea where developing countries believes that if they trade more at large with
developed countries than they would have more sustainable income which eradicates
their dependencies on external aid to undertake developmental projects.

Cont.
 Globalisation indeed reduces the barricades in the trade practices between countries. It
nourishes and improve the way any country trade it products and services to another
country.
 To mitigates against poverty, the strategy of Trade not aid can be implemented by the
government of developing countries.

CONCLUSION
In summing up, it can be concluded that globalisation is the process of free flow of goods
and services from one country to another. Globalisation plays crucial role in sharing of
culture, beliefs and characteristics of different nations. The report sheds light on the view of
Pankaj Ghemawat book, World 3.0 in which he put forwards his facts regarding why the
world is not globalised as any individual perceived. The ideas of globalisation and its
dimension proposed by Anthony Giddens has been described succinctly in the study. The
role of Trade Not Aid strategy in eliminating poverty in developing countries has been
discussed in the essay explicitly.

References
 Ghemawat, P., 2011. World 3.0: Global prosperity and how to achieve it. Harvard
Business Press.
 Reis, N.R., 2015. WORLD 3.0: GLOBAL PROSPERITY AND HOW TO ACHIEVE
IT Pankaj Ghemawat (2011), Boston (MA): Harvard Business Review Press, 386
p. Revista Ibero Americana de Estratégia, 14(2), pp.137-139.
 Giddens, A., 2018. Globalization. In Sociology of Globalization(pp. 19-26). Routledge.
 D'Andrea, A., Ciolfi, L. and Gray, B., 2011. Methodological challenges and
innovations in mobilities research. Mobilities, 6(2), pp.149-160.
 Sakyi, D., 2011. Trade openness, foreign aid and economic growth in post-
liberalisation Ghana: An application of ARDL bounds test. Journal of Economics and
International Finance, 3(3), pp.146-156.

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