Globalisation refers to the increasing interconnectedness and interdependence of nations, economies, cultures, and societies worldwide. It is characterized by the flow of goods, services, information, and people across borders.
The hyperglobalists view globalisation as an unstoppable force that has immense positive impacts on societies and economies. They believe that nation-states are losing their power and sovereignty to global institutions, such as multinational corporations and international organizations like the World Trade Organization. Hyperglobalists argue that globalisation leads to economic growth and development, improves living standards, enhances cultural exchange, and promotes democracy.
The skeptics, on the other hand, are more critical of globalisation. They question the extent and significance of global integration, believing that its impact may be overstated. Skeptics argue that the world remains fragmented into distinct national systems and that international organizations have limited power. They also raise concerns about the potential negative consequences of globalisation, such as in terms of inequality, environmental degradation, and loss of cultural diversity.
The transformationalists adopt a middle ground between the hyperglobalists and the skeptics. They acknowledge the reality of globalisation and its transformative effects but argue that it does not result in a complete decline of nation-states. According to transformationalists, globalisation and nation-states interact and reshape each other. They emphasize the importance of multiple actors, such as civil society groups and non-governmental organizations, in shaping global processes and outcomes.
Overall, these three camps represent different perspectives on globalisation, offering varying assessments of its scope, impact, and implications for society, economy, and governance.