{"id":176833,"date":"2022-03-30T19:54:53","date_gmt":"2022-03-30T14:24:53","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=176833"},"modified":"2022-03-30T19:54:53","modified_gmt":"2022-03-30T14:24:53","slug":"globalization-is-dying-long-may-the-phenomenon-live","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/globalization-is-dying-long-may-the-phenomenon-live\/","title":{"rendered":"Globalization is dying: Long may the phenomenon live"},"content":{"rendered":"\n<p><strong>Context<\/strong>: Recently, the Western world came together to impose sanctions on Russia, decades old business arrangements with countries were terminated. All this came in the backdrop of COVID-19, exposing the vulnerability of globalization.<\/p>\n<p>Among nation-states it has led to hardening of nationalistic agendas. Countries are focusing on self-reliance to reduce geopolitical risks.<\/p>\n<p><strong>Is it possible to reverse globalization trends? <\/strong><\/p>\n<p>From an evolutionary perspective, humans became the dominant species due to our ability to cooperate to further common objectives. From being hunter-gatherers, to establishing villages, towns and nation-states. In recent times, this is visible in arrangements such as the European Union.<\/p>\n<p>That said, when events like the Russian invasion of Ukraine give rise to questions, there is a need to address these concerns in ways that will allow us to <strong>reap the benefits of globalization<\/strong>.<\/p>\n<p><strong>For instance,<\/strong> concerns regarding <strong>SWIFT<\/strong>. This is operated by a Belgian company which is subject to any sort of pressures that a domestic entity faces. The alacrity with which Russian banks were ejected raises concerns as to management of global financial infrastructure.<\/p>\n<p>This raises demand for alternatives. Rather than have a single entity for financial messages, focus can be on setting up financial messaging infrastructure that is based on open protocols.<\/p>\n<p>There is a need to evaluate all our global public infrastructure through a similar lens. Such important infrastructure should function like <strong>global commons.<\/strong> In cases where effective control lies with a small group of nations, we need to develop alternatives.<\/p>\n<p><strong>Source: <\/strong>This post is created based on the article \u201cGlobalization is dying: Long may the phenomenon live\u201d published on 30<sup>th<\/sup> March i<strong>n <\/strong>Live Mint.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Context: Recently, the Western world came together to impose sanctions on Russia, decades old business arrangements with countries were terminated. All this came in the backdrop of COVID-19, exposing the vulnerability of globalization. Among nation-states it has led to hardening of nationalistic agendas. Countries are focusing on self-reliance to reduce geopolitical risks. Is it possible&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/globalization-is-dying-long-may-the-phenomenon-live\/\">Continue reading <span class=\"screen-reader-text\">Globalization is dying: Long may the phenomenon live<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10501],"class_list":["post-176833","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704834993},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/176833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=176833"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/176833\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=176833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=176833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=176833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}