Business and Marketing / Economics Essay

Top Globalization Trends In 2020

As simple as the concept of globalization sounds, it is no storm in a teacup. Globalization trends now form an integral part of world development. No matter how much an individual or state tries to isolate itself, the need to relate will most definitely arise. Globalization is the establishment of an interconnected state or condition of sharing goods, services, or even moving to entirely different places.

The world moves at an astounding speed of lightening that deems these changes as barely noticeable. This transition, that so much involves the transformation of this realm of the universe into a global village foreshadows the removal of borders in world economics that will, in turn, kindle development of all countries in the international system.

The idea of interconnectedness ascends from the liberalist’s notion that all states are equal, thus, they deserve the right of development. And this can only be achieved when all things are equal. This is when it became the stipulation to further to achievement of an egalitarian international community.

But, the impacts of globalization reflect very much on human life, as on activities of a state. So, what are the latest trends flickered by the outburst of a global world?

Globalization Trends in 2020

For starters, globalization has substantially aided in reducing barriers, not only in the affairs of statecraft but also in the relations that humans encounter. Hence, for this article let us ascertain the main function of globalization as creating borderless relations between two individuals or states.

It is pertinent to understand that the current globalization trends hold a lot of water and affects both bones of contention — humans and states — differently. For the former, it stops at establishing borderless relations in transactions of goods and services. For the latter, it extends through economic, social, and political aspects of relations.

● The use of varying degrees of Technology

Technology is a wholesome trigger in the globalization trend. In 2020, many functions now require minimal human efforts. Human beings now fancy the age of virtual friends, online research, and even remote work, and as the COVID-19 pandemic surges, the ethics of "work from home" is now a very useful supplement. This trend has caused an increase in the new level of human relations, one that allows individuals to meet in the virtual world, thereby increasing the levels of human productivity.

Further, the advancement of technology now allows world governments to communicate effectively with their citizens and other state governments, promoting the agenda of the globalization drift.

● Migration

Amidst the endless appellations of immigrant rights, several states have now propagated far-left policies that encourage the influx of non-citizens. Asides from dismantling ideologies that are racist, the acceptance of migrants spur from the need to increase the number of human resources they have and also increase the level of output for the development of their state.

As many countries take advantage of the plight of migrants’ countries, they are in constant need of the technical manpower to fuel their demand and create a strong base of honest and loyal citizens.

● Utilization of the Digital Market

Buying and selling have now metamorphosed into the online domain, wherein buyers and sellers work on the level of trust. Globalization has now assured that individuals carry out transactions from the homestead, whilst holding fully, the helm of the operation.

We now have many online platforms that allow people to buy goods such as Amazon, eBay, Jumia, and so on. These platforms incorporate several sellers willing to widen their reach to an uncountable river of buyers.

● Inclusivity

As the world evolves, we now learn to be more diverse in all our abodes. The global stead is not only characterized by the number of qualified practitioners in a particular field, but also by its diversity. Is the ratio of women equivalent to that of men? What about the number of blacks, or Asians, or members of other races? Are minorities being considered? How about the homosexuals and queer folks?

These are questions that linger around this stead. In this day and age, you cannot afford to be sexist, racist, islamophobic, transphobic, or homophobic. If you are, you stand the chance of losing your job or even going to jail.

● Free / Borderless Trade

Globalization has led to a remarkable realization, in the past few years, that free or borderless trade is the catalyst for progress and solidarity. This realization has not reached a global level but comfortably sits at the wheel of regional relations.

Some regions have seen the benefits of such a feat and have gone ahead to propagate policies wherein all member states must adhere to. For example, regional intergovernmental organizations like the Economic Community of West African States (ECOWAS), East African Community (EAC), European Union (EU), etc., now allow member states to trade freely. Similarly, the pact of these states extends to the free movement of citizens of member states.

Conclusion

The process of integration has been long but steady. Granting that the world still looks as if it is far from attaining the highest level of globalization, the current globalization trends would look like a far-fetched assumption to a person who resides behind the times. However, as we and the world transmutes, do you think full integration can be attained?


References:

Gurgu, E. & Cociuban, A. (2016). New Trends in Economic Globalization. Journal of Economic Development, Environment, and People, 5 (1), 28-38.

Ray, J. & Reinhart, R. J. (2020). 2020 Vision: Global Trends to Watch. Retrieved from https://news.gallup.com/opinion/gallup/275837/2020-vision-global-trends-watch.aspx

ObasaTop Globalization Trends In 2020, O. (2019). Contributions of the Industrial Revolution to International relations. Kenyatta University: unpublished essay.

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