Globalisation, a complex phenomenon, is about the growth of interdependence across continents rather than just regions or within states. Further, the internet facilitated instant global communication.
Globalisation has survived financial crises, the worldwide Covid-19 health emergency, and political instability. Improved international collaboration has increased global capital flow. Global trade in goods and services has made a strong comeback after the pandemic, although recovery has been unequal across areas.
Globalisation will also survive Donald Trump 2.0 and his mercantilist threats, but it also faces challenges from the economic and political upsets triggered by Russia's invasion of Ukraine.
For centuries, issues as varied as war, migration, and technological change have added layers of global connections. They did not take place in just one country or one continent. Chinese and Indian tea, spices, and handicrafts made their way into Europe centuries ago, long before the word globalisation was coined.
At another, political level, India's first Prime Minister Jawaharlal Nehru stressed that post-colonial countries had a global role to play and had no intention of being ignored, passed by, or led by the nose by more powerful countries. Indian independence and non-alignment meant that hundreds of thousands of Indians would no longer serve in the British-Indian armed forces, and that struck at the core of Britain's global military power in the mid-20th century. And in the 21st century, emerging market economies, some of them former western colonies, want political choices and multiple trading partners to navigate an interdependent world.
この記事は Financial Express Lucknow の December 10, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Financial Express Lucknow の December 10, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
A middle-class meltdown
Economic shift, stagnating real income post Covid weigh on spending on daily items
Shyam Benegal cremated with full state honours
Veteran filmmaker Shyam Benegal, a pioneer of India’s parallel cinema movement, was cremated with full state honors on Tuesday.
Champions Trophy: India to play Pakistan on Feb 23
INDIA WILL PLAY all their matches of the Champions Trophy in Dubai with the marquee clash against arch-rivals Pakistan scheduled on February 23, the International Cricket Council (ICC) announced on Tuesday.
Net gains: Secured Virat, cautious Rohit gear up
INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.
Local satellites push draws 30 aspirants
The applicants for INSPACe's latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group's Tata Advanced Systems.
₹2-cr fine on Deloitte Haskins for Zee audit
In September 2018, the chairman of ZEEL, who is also the promoter of Essel Group of Companies, issued a letter to Yes Bank, and committed ₹200 crore of fixed deposit (FD) of ZEEL as a guarantee for the loans given by the bank to group company Essel Green Mobility.
Labour-intensive exports: Gains likely to be short-lived
India's textile export growth is likely to be short-lived despite a recent surge, driven by factors such as a volatile rupee and instability in neighboring Bangladesh. While this presents opportunities, long-term gains require competitiveness and product diversification.
Economists for FTAs, land & labour reforms
RCEP was signed by the group of countries in November 2020 except India.
Uniting for greater good
COLLABORATIVE PHILANTHROPY IS not a new idea. History has many examples of communities coming together for the common good.
EAM in US to boost bilateral ties
IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.