Chapter

Summary and Conclusions

Baldev Raj Nayar

in The Geopolitics of Globalization

Published in print December 2007 | ISBN: 9780195693034
Published online October 2012 | e-ISBN: 9780199081783 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195693034.003.0013

Series: Oxford India Paperbacks

Summary and Conclusions

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In terms of trade and capital flows, globalization has made the world more integrated economically today than it has ever been. International economic integration today is ‘deeper’ than the one in the past, as reflected by the ‘transnationalisation’ of the production process, the composition of today’s trade, and the more pronounced financial integration worldwide. However, globalization is not uniformly distributed across the globe. Instead, it is highly concentrated in the ‘triad’ of Japan, Europe, and the United States, and is truncated in nature due to geopolitics. A trend that runs counter to globalization is the increasing fragmentation of the world economy into regional economic blocs. The world economy today is dynamic in nature, which is particularly evident in the economic development of countries in East Asia and Southeast Asia. The author believes that countries that opt out of globalization are likely to experience retarded development and, eventually, even reduced autonomy.

Keywords: geopolitics; globalization; economic development; economic integration; globalization and autonomy; East Asia; Southeast Asia; world economy; regional economic blocs; United States

Chapter.  5540 words. 

Subjects: Political Economy

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