Short essay
“The Great recession of 2008-2009 exposed deep flaws in the framework of the ‘hyper-globalists’ and has posed the need for a critical rethinking of the way in which IPE details with the question of globalization.” With reference to the role of the state, regionalism and Financialization , critically assess the accuracy of this statement.” 2 pages min 1,200 words with references and sources
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Critique of the Hyper-Globalist Perspective
Globalization is an umbrella concept that comprises of a combination of processes recognizable in the assembly of social situations. This umbrella expression recognizes the flow of activities (political, social and economic) across different countries in the world (Murray, 2016). This perspective is enhanced by the speed of flow of information that has intensified whereby people in different countries can interact with each other in a matter of seconds (Murray, 2016). Despite this, globalization has been criticized by some scholars who purport that it is an internal development emanating from western bias with the rest of the world seemingly becoming like the west. As such, there are many disagreements among scholars on the meaning and the impact of globalization. With this, theoretical frameworks have been developed to help comprehension of the fundamental implications of the complex perspective of globalization. The broad accounts are based on optimistic and pessimistic globalists, who consider the dimensions of globalization as a new phenomenon (Murray, 2016).
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