11.Globalisation and the Global Order (2016)Apunte Inglés
Introduction and current situation
Vista previa del texto
Theory of IR 2016
11. Globalisation and Global Order
Held, David, Anthony McGrew, David Goldblatt and Jonathan Perraton. 1999. “Conclusion: the Shape of Contemporary
Globalization”, in Global transformations: politics, economics and culture. Oxford: Polity Press.
11.1. Introduction 11.1.1. THE GLOBAL SHIFT OF POWER • Relative decline of American power and absolute decline of European power.The changes in distribution of power mean that actors like China and India have risen: “The rise of the rest”.
• The US is still the global superpower, the main power in the world in all its components (hard power, military power, economic power, etc). The US is still the only one that can balance the rest (Balance of Power).
• The attention is shifting towards Asia: New centre of global affairs. Demography, new geopolitics, economy, technology, ideas, etc.
• In 2013 Latin America grew above world average. This region is also increasing in terms of the share of World GDP.
• Africa is home to the fastest growing economies in the World. Its demography may place it on a par with India in the foreseeable future.
11.1.2. WORLD ECONOMIES In 2050 the actual global situation will have changed: China will be the first economy, followed by the United State. EU will have reduced its power significantly, and Germany will be the first european economic power, in the 9th position. Indonesia, Mexico, Russia, India and Brazil will be above European countries.
Marta Busquets Theory of IR 2016 11.1.3. THE BRICS TODAY Acronym coined by the British economist Jim O’Neil in 2001.
• In 2009 the BRICS amounted to 10% of World’s GDP and 4% of World’s trade. In 2010 they already represented 25% of World’s GDP, and 15% of World Trade.
• 42% of World Population (19% China and 18% India) 26% of World Land Area • Weaknesses: • Economic vulnerabilities of the members • Fundamental disagreements on global governance, especially UN reform • Existing bilateral disputes, especially between India and China • Lack of legitimacy as speakers for the rest of the developing world • Absence of Islamic world 11.1.4. MILITARY SPENDING US remains the global superpower in military terms, as its military budget is 6 times bigger than the Chinese budget. They will remain the biggest power in the future.