Nitin Bhatnagar, Dubai Business Expert, Examines the Concepts of Good and Bad Globalism

Globalism is a highly charged word in today’s political environment. The definition of globalism varies a great deal according to the speaker’s point of view. In this article, Nitin Bhatnagar of Dubai delves into the concept of globalism, examining which types of globalism are beneficial and which are detrimental to the health of nations around the world.

General Definitions of Globalism

The general definition of globalism is highly dependent on individual political viewpoints. In the United States and parts of Europe, some politicians hold that globalism is counterproductive and focuses on other countries’ concerns while harming their national interests.

However, another viewpoint is that globalism is a means of leveling the playing field between nations, particularly between developed and developing countries.

It is difficult to say whether globalism is inherently good or bad, but Nitin Bhatnagar of Dubai, UAE presents his viewpoint on types of globalism that are beneficial to the world as a whole and types of globalism that may hinder proper development.

Globalism as a Concept

Globalism is a concept that has been around since ancient times when institutions like the Roman Empire and trade routes like the Silk Road connecting China and Europe were in effect. Rather than pointing to the emergence of globalism, it is more productive to refer to how prevalent it is at any given point in history.

On its simplest level, globalism refers to the network of connections between countries. These can be economic, social, corporate, or all of the above. Globalism is a social philosophy that is concerned with the “shrinking” of the world and how interconnected our lives have become.

Globalism vs. Globalization

Many people use the terms “globalism” and “globalization” interchangeably. Though they are very similar, there are a couple of differences. According to international relations experts, globalization refers to the systematic tightening of economic and social connections between nations. On the other hand, globalization refers to the dissemination of technology, jobs, information, and products across the world. Nations become more dependent on one another through the mechanism of free trade, and countries that are disadvantaged in free trade may not benefit as much as countries with open policies.

Beneficial Globalism

One of the leading benefits of globalism and globalization is that it spreads knowledge and technology around the world. Certain countries are at the forefront of technological change, while others are less likely to make advances in technological developments due to economic disadvantages and a lack of corporate infrastructure. However, despite this, many developing countries have been making significant technological leaps.

For example, the rise of mobile technologies in Africa is fueling an economic revival in an area where land-based Internet service has spotty coverage at best. This technology has made it possible for residents and businesses to take part in banking systems that were inaccessible even a generation ago.

The spread of globalism makes the world a smaller place, bringing cultures and economies together. From this point of view, globalism benefits everyone regardless of where they live.

Counterproductive Globalism

Not everyone approves of the spread of globalism. The term can also refer to government and corporate policies that seem to favor certain countries.

Some economists believe that globalism may be responsible, in part, for severe global economic crises. Globalism and globalization can be harmful to smaller countries’ religions and cultures. It can lead to disadvantages and unfair conditions for homegrown businesses which favor multinational corporations. The increasing level of control over the global economy, that is held by multinational companies, is a valid argument against globalism and globalization.

Some scholars believe that the spread of globalization, as expressed in freedom of movement, has caused more social problems within developing countries allowing for increased prejudice and discrimination.

From a political standpoint, many others disapprove of the distribution of national resources, like funding and military forces to developing countries. They believe that financial aid should be concentrated on populations within their own borders and that each country should oversee helping their own economies first and foremost.

Judging the Success of Globalism and Globalization

Nitin Bhatnagar of Dubai, UAE is deeply interested in the spread of globalism around the world. While globalism has recently received bad publicity, it should not be discounted as a beneficial concept for society as a whole. Nitin Bhatnagar believes that the philosophy should be examined closely for its risks and benefits rather than writing it off as undeniably bad or good.

Some forms of globalism benefit everyone, while others could bring problems, especially in developing countries. Large economies may be called upon to do more than their share to prop up failing economies and government systems.

The world is a complex social, economic, and political system. Any imbalance in the system could lead to disadvantages for certain populations. According to Nitin Bhatnagar of Dubai, nations and corporations should carefully consider changes that may affect globalization and try to see the challenge from both sides.



Nitin Bhatnagar is the co-founder of Ellington Group. He has over 20 years of experience in financial services.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Nitin Bhatnagar

Nitin Bhatnagar is the co-founder of Ellington Group. He has over 20 years of experience in financial services.