UPSC Sociology Mains Syllabus
Paper 1 – Chapter 10 – Social Change in Modern Society
- Sociological theories of social change.
- Development and dependency.
- Agents of social change.
- Education and social change.
- Science, technology and social change.
MEANING OF HYPER-GLOBALISATION
Hyper Globalisation is the concept that believes that globalisation is happening and there is an emergence of a homogenous global culture.
Hyper-globalization is the dramatic change in the size, scope, and velocity of globalization that began in the late 1990s and that continues into the beginning of the 21st century. It covers all three main dimensions of economic globalization, cultural globalization, and political globalization.
DEFINITION
Dani Rodrik defines hyper-globalization as a type of globalization aimed at the elimination of all transaction costs associated with the movement between the natural borders of nation states of goods, services, capital and finance.
FORCES OF HYPER-GLOBALISATION
Economic force in which extensive growth in global trade creates cross-border economic integration.
Human communications force via the Internet in which instant and global communication of social media and the Internet are changing norms of human communication blurring social barriers.
Technological disruption force coming from new innovations in technology driven by Internet-of-Things (IoT), big data, and Artificial Intelligence (AI) bringing massive economic and rapid social changes leading to a world of Singularity.
THE DECLINE OF HYPER- GLOBALISATION
Hyper-globalization had been in retreat since the global financial crisis of 2007-08. The share of trade in world GDP began to decline after 2007, as China’s export-to-GDP ratio plummeted by a remarkable 16 percentage points. Global value chains stopped spreading. International capital flows never recovered to their pre-2007 heights. And populist politicians openly hostile to globalization became much more influential in many advanced economies.
LATEST THREAT TO HYPER-GLOBALIZATION
The zero-sum logic of national security and geopolitical competition was antithetical to the positive-sum logic of international economic cooperation. With China’s rise as a rival to the US and Russia’s invasion of Ukraine, strategic competition has reasserted itself over economics.
CONCLUSION
In the context of decline of hyperglobalisation, it is possible to envisage a good scenario whereby we achieve a better balance between the prerogatives of the nation-state and the requirements of an open economy. Such a rebalancing might enable inclusive prosperity at home and peace and security abroad.