Globalization or denationalization summary Essay

Globalization or denationalization summary - Essay Example There an increasing pressure for the IMF and US government for the implementation of both monetary and fiscal policies that comprise of global markets. 1. The subnational: a site for globalization Study of globalization entails both focusing global in scale and also locally scaled processes and conditions that are articulated within the global dynamics. It is essential to focus on the multiple cross-border connections that are aided by the reoccurrence of numerous conditions across localities. For instance, the global capital markets consist of both electronic markets that are global and locally conditions like financial centers that provide the infrastructure and trust systems for the global capital markets to function (Sassen p 1).Focusing on sub-national practices and globalization requires theories and methodologies that engage in both global scale and sub-national scale. Study of globalization under sub-national processes offers some advantages, but is challenging since it entai ls the use of both quantitative and qualitative research techniques. However, its provides the basis for utilization of sub-national and national data, but the studies must occur within the conceptual architectures of the researchers of such techniques and data sets since such data and conceptual framework was not geared to study of globalization. ... issue is the circuits that constitute political and economic globalization since a focus of places leads to demonstration of globalization in terms of several cross-border circuits depending on location of the place. Global cities are sub-national places whereby multiple global activities take place thus positioning such cities as structured cross-border geographies. For instance, circuits connecting Sao Paulo to global networks are different from those of other global cities like Frankfurt and Bombay. Increased economic transactions in older hegemonic cities like New York, Mexico City as well as emerging geographies like Shanghai that has a increasing cross-border transactions usually deviates from the concept of globalisation that is based on international trade, global markets and international institutions (Sassen p 4). The second aspect is the role of technology since firms and financial institutions use new technologies attain a global span. Surprisingly, resource-deficient fir ms can use new technology to become a microenvironment with a global presence thus dispelling the notion that physical proximity is a characteristic of local or nation. In deed, a reconceptualization of local is the notion that local scales form part of a nested hierarchy of scale from local to regional and finally international must be rejected. The third issue that arises is the interaction of the global dynamics and various aspects of national states since global is partially embedded in to national. The above three issues attest the fact that nationalism is inadequate due to transboundary dynamics some specific structuring of global within national requires special denationalization of some aspects of the national (Sassen p 5). 2. The devastating of older hierarchies of scale Some