[SOCIETY] Deglobalisation : What to expect?
Shivshankar Menon warns, “we are headed for a poorer, meaner, and smaller world." Globalisation is often described through metaphors like 'Global Village', 'Borderless world'. However, the real globalisation is much more complex than these metaphors suggest. The simplistic view is that globalisation is growing interconnectedness, which essentially results in compression of time and space. It is a multi-conceptual and multi-dimensional term with social, political, economic and cultural domains. It can also have many models like Pax Americana or Pax Sinica. The American model or Pax Americana is based on liberal international order. It has three components : ( a) Growth of institutions - World Bank, IMF, WTO (b) Democracy - spread of democratic values (c) Free trade - greater impetus to private sector. The Pax Sinica fashions itself as an alternative, a anti-thesis to the American model. Some features of Chinese model are : (a) Authoritarianism - to kee