History of Globalization

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History of Globalization


The history of globalization is a topic that is still an on-going debate. Although some scholars see the origins of globalization in the modern era, others regard it as a phenomenon with a long history.

 Andre Gunder Frank , an economist and proponent of a deep historical background of globalization, argued that a form  of globalization existed since the rise of trade links between Sumer and the Indus Valley Civilization in the third millennium BC.

Critics of his idea say that it rests on an overly-broad definition of globalization.

Other historians and economists have determined an early from of globalization in the trade links between the Roman Empire, the Parthian empire, and the Han Dynasty, which was from 206 BC to 220 AD.

The increasing assemblage of commercial links between those powers led to the development of the Silk Road, which started in western China, reached the borders of the Parthian empire and continued further towards Rome.

Another important early stage of globalization was the Islamic Golden Age, when Muslim traders and explorers established a continuous economy across the world that led to a globalization of crops, trade knowledge and technology. Sugar and cotton became widely cultivated during this period and the necessity of learning Arabic and completing the Hajj created a cosmopolitan culture.

<span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">Until the time of the voyages of discovery, even the largest international trades and exchanges were limited to the Old World. Then in the 16th Century there was a change in the patterns <span lang="EN-US" style="font-size: 14.0pt;mso-bidi-font-size:11.0pt;font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman";mso-ansi-language:EN-US;mso-fareast-language: DE"> of globalization, because the New World began to engage in cultural, material and biologic exchange with Africa and Eurasia. It can be said it begun shortly before the turn of the 16th century, when the two kingdoms of the Iberian Peninsula – the Kingdom of Portugal and the Kingdom of Castile – began to send exploratory voyages to America and around Africa. These new sea routes allowed permanent contact and trade between all inhabited regions of the world. This period is also known as “proto-globalization” and is characterized by the rising European Empires, especially the Portuguese Empire, the Spanish Empire, and later the British and Dutch Empire, during the 16th century.

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">Globalization and global integration continued because of European trade expansion during the 16th and 17th centuries, when the Spanish and Portuguese Empires started colonizing America, eventually followed by the English and French.

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">Then in the 17th century, globalization became a business phenomenon, when the British East India Company was founded in 1600. It is often referred to as the first multinational corporation. It was followed by the Dutch East India Company (1602) and the Portuguese East India Company (1628). Because of the large investment and <span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size:11.0pt;font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman";mso-ansi-language:EN-US;mso-fareast-language: DE">financing needs and the high risks of international trade, the British East India Company became the first company in the world to share risk and facilitate joint ownership of companies by offering <span lang="EN-US" style="font-size: 14.0pt;mso-bidi-font-size:11.0pt;font-family:"Times New Roman","serif"; mso-fareast-font-family:"Times New Roman";mso-ansi-language:EN-US;mso-fareast-language: DE"> shares of stock for sale: an important driver for globalization.

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">In the 19th century globalization approached more of its modern form. Industrialization allowed the cheap production of goods using economies of scale, while the rapid population growth created a great demand for those goods. Globalization in this period was distinctly shaped by the 19th century Imperialism. After the British conquest of India was completed, the people living in those regions became ready consumers for European exports. Meanwhile the European powers started the conquest of new parts of the globe, including sub-Saharan Africa, and it yielded natural resources like rubber, coal and diamonds and helped the trade between the European imperial powers, their colonies, and the United States.

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">According to John Maynard Keynes, a British economist, the first phase of "modern globalization" began to abort at the beginning of the 20th century, when the First World War started.

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">The final end of this phase of globalization came in the late 1920s, and early 1930s, with the Great Depression.

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">The globalization in the middle decades of the 20th century is mainly characterized by the global expansion of multinational corporations that are based in the United States. Another factor of globalization during this period of time is the worldwide export of American culture through the new media of film, television and recorded music.

<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">Then in the 2000s, the world entered another deep recession and in the global financial crisis, up to 45% of global wealth were destroyed in less than a year and a half. Some economists say the world is going through a period of deglobalization after years of increasing economic integration.

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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto; line-height:normal"><span lang="EN-US" style="font-size:14.0pt;mso-bidi-font-size: 11.0pt;font-family:"Times New Roman","serif";mso-fareast-font-family:"Times New Roman"; mso-ansi-language:EN-US;mso-fareast-language:DE">Sources:

<p class="MsoNormal"> http://www.economic-geography.org/index.php?option=com_content&view=article&id=94:history-of-globalization&catid=98:inf&Itemid=85

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