The Expansion Of Globalization In The Post-American World

Globalization has propelled our global community into a more dynamic, more interesting, and more stable world. The interconnection of countries across global markets has created a more prosperous global society. This phenomenon has captivated and connected our entire world. Globalization--defined as, “worldwide integration and development” encompasses the global involvement of people, companies and governments. Globalization has been and is still driven by international trade and has resulted in the creation of a global economy and opportunities for peoples of all nations, classes and social status. In The Post-American World Zakaria states, “Over the last two decades, about two billion people have entered the world of markets and trade—a world that was, until recently, the province of a small club of Western countries. The expansion was spurred by the movement of Western capital to Asia, and across the globe. As a result, between 1990 and 2010, the global economy grew from $22.2 trillion to $62 trillion, and global trade increased 267 percent. The so-called emerging markets have accounted for over half of this global growth, and they now account for over 47 percent of the world economy.” (p.21)

Zakaria states, “Over the last twenty years, globalization has been gaining breadth and depth. More countries are making goods, communications technology has been leveling the playing field, capital has been free to move across the world.” (p.200) Zakaria also states, “What is happening here: the rise of the rest. America’s sum total of stocks, bonds, deposits, loans, and other instruments—its financial stock, in other words—still exceeds that of any other region, but other regions are seeing their financial stock grow much more quickly.” (p.221) The new dynamic global economy has lifted the world into a more profitable