According to experts globalization can evolve in three different ways:

a) Globalization will continue its expansion although not at a constant speed;

b) Globalization and business internationalization will slow down, given the prevalence of some of the negative effects on some countries economies and

c) Growth will be more regional than global.

In fact, there is ample evidence of events supporting each of these situations and only time will tell. For sure, this is really a most important issue that has to be considered under the umbrella of political developments and environmental impact.

If in the recent past, until before the crisis of 2007-2008, capital movements were the most important factor driving economic globalization, in the future it will be labour movements. Mass migration of labour force is already a main factor of economic globalization, and its relevance is bound to increase in the near future, despite repressive policies and tightening of border controls implemented by national States.

Two main factors are at the root of this phenomenon: a) the impressive inequality in the distribution of income and opportunities at national as well international level, and b) the homologation of attitudes and desires arising from mass market cultural industries.

This social phenomenon should be governed at international level to prevent serious political consequences for democracy and civil rights in both inflow and outflow countries.

It's hard to decide where to begin. But, even what we're doing right now was inconceivable 25 years ago. We are living in a world where the concept of physical location is passé. Do you all remember how we used to use maps when we traveled or buy airline tickets? Today, we can even track every commercial flight or marine traffic on our computer screen. This very moment there are ~10,000 airplanes in the air globally carrying millions of people from one location to another. All this is nothing but very disruptive and changing the world forever. Naturally, globalization does have side-effects. It affects some positively and others negatively. It's also true that some may benefit more than others. But, the net effect is positive. Otherwise, we would not do it. By the way, as you all know, this is not the 1st wave of globalization. It might be a stretch but, in my opinion, Cenghiz Khan, the Vikings, the Conquistadors, Columbus etc. were all globalizers. As such, globalization is a challenge for nation-states because it reduces the relevance of nation states. It's disrupting and disturbing for many. I am not surprised at all that these days -as a reaction to the massive forces of globalization- nationalism is on the rise once again in many parts of the world. However, I also believe that there is no turning back from globalization in the medium to long term. I don't even think it's possible to stop it. Building walls is expensive, short-term solution, and ultimately do not work (i.e. the Great Wall of China, Hadrian's Wall, the Walls of Constantinople, the Berlin Wall, the Maginot Line etc). History teaches us that people always managed to get around, over and under walls. On a final note, I cannot agree more with Andrea Ricci. It would not be far-fetched to think that when the new wave of globalization will hit the globe, not only goods and services and capital but also people will start moving in a freer fashion.

Following

regards

Globalisation is a social evolution that accelerates the liberalisation and the intensification of international linkages in trade, finance, markets, production, research, transportation, energy, medicine, education, politics and culture by discoveries in micro-electronics, information processing, communications, biotechnology. These forms of cooperation and linkages have created mutual interdependence in the global system; including the rising security concern. The economic aspects of globalisation would be affected negatively at the global level in the short-run, occasioned by the trending publicist government among many nations and the clamour for regional economic integration in many regions and the emerging conflict of interests in trade relations between the world's two biggest economies- America and China and the concern of some countries that are casualties to globalisation of the economy. Efforts to ensure more balanced trade relations among nations would rekindle interest in the globalisation of the economy.

If I read correctly what is happening now in Paris, I would say that globalization will experience a significant retreat. One of its major consequences is that it has thinned the driving forces behind Western industrialization and development, that is, the middle class. Globalization has propelled some of them upward, but thrust most of them downward. Meanwhile, true, globalization has lifted many people out of poverty worldwide, but not enough as to turn them to independent political agents (i.e., middle class). Therefore, we now have a polarized and off balance global society, and this is untenable. I see no way of restoring balance by driving forward (it seems like the bicycle metaphor might not apply here). I do not see globalization forces working in the favor of the middle class, but could only see the latter's revolt. Be prepared for a Trump 2020 victory, an EU redefinition, and aching China and Russia. Great question, btw.

In the future, one of the key determinants of globalization processes will be the global warming problem.

Unfortunately, more and more data and research centers scientifically confirms that progressively progressing global warming has become a fact. First and foremost, human activity influences this. The impact of natural factors is significant, however, the progress of civilization, industrial development, greenhouse gas emissions in the past few decades has increased significantly and continues to grow. The biggest problem may be the inability to reverse this process even if all of the industry, energy and transport are now switching to renewable energy sources.

The issue of reducing greenhouse gas emissions is currently one of the most important problems for urgent solutions in connection with the accelerating process of global warming.

The fact that the development of human civilization is largely responsible for the emission of greenhouse gases is an irrefutable fact confirmed by numerous independent research centers.

However, in individual countries, the development of industry is at various stages of development.

In individual countries, sources of greenhouse gas emissions can be presented in a different source structure of these emissions.

In some countries, in large agglomerations, the main source of greenhouse gas emissions is transport based on traditional combustion of fossil fuels, combustion of low-quality mineral and non-mineral minerals in domestic furnaces, and energy based on mineral combustion.

Therefore, I am asking you the following questions:

And how is greenhouse gas emissions in your countries or cities?

What are the main sources of greenhouse gas emissions in your country, in the cities where you live?

If you live in cities, is smog a problem?

Is smog the problem in your cities mainly in the winter season or also in other seasons?

Is the greenhouse gas emissions structure in your country significantly different compared to global greenhouse gas emissions data?

Please, answer, comments. I invite you to the discussion.

In order to solve the problems related to the global warming of the Earth's climate, international cooperation should develop to develop a common global strategy of pro-ecological activities and sustainable development of the new green economy. In December 2018, the United Nations climate summit in Katowice took place in Katowice. COP (Conference of the Parties) on climate policy on Earth. UN climate summits, i.e. COP (Conference of the Parties) are global conferences during which climate policy actions are negotiated. Poland twice hosted them - in 2008 in Poznań and in 2013 in Warsaw. In December 2018, the climate summit is held for the first time now in Katowice in Poland. During this summit, conferences are held, discussions are held on the need to develop a sustainable development policy and the need for development of ecological, renewable energy sources in order to generate a reduction in greenhouse gas emissions in the future and ultimately reduce the average annual temperature rise on the Earth's surface. From the discussions it follows that it is necessary to develop eco-innovations, new pro-ecological energy sources, development of electromobility of transport means. It is necessary to develop and implement on a large scale renewable energy sources. In addition, it is important to increase the scale of afforestation, as forests and the flora contained in them absorb a large proportion of greenhouse gas emissions. As part of this year's UN Climate Summit, the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP24), 14th Meeting of the Parties to the Kyoto Protocol (CMP 14) and the Conference of the Paris Agreement signatories (CMA 1) are held. About 20,000 people from 190 countries participate in the event, including politicians, representatives of non-governmental organizations, and scientific and business spheres. Perhaps during this UN climate summit important and specific agreements, declarations and signed agreements on the reduction of greenhouse gas emissions will be taken. The present lectures show that in recent years the warming process of the Earth's climate has accelerated significantly and therefore, in the black scenario of future climate changes, the temperature on the Earth's surface can rise by 4 ° C to the end of the 21st century. If this happened, then the scale of climate-related cataclysms that are dangerous to humans, including droughts, floods, fires and weather anomalies in many places around the world, will increase many times. The problem is very serious globally and therefore a lot depends on whether international cooperation will develop in order to limit these problems and their negative effects. In view of the above, I would like to ask you: Should you think that international cooperation should increase to reduce greenhouse gas emissions on Earth? In addition, another key question arises: how much of this international cooperation is possible, to what extent will real and effective measures be undertaken on the basis of the discussions and declarations undertaken to reduce greenhouse gases?

Please reply. I invite you to the discussion

Dariusz Prokopowicz, the global warming issue has been so extensively and perversely politicized that it is difficult to set it as a key independent variable. Indeed, a recent article points out that now even epistemic communities are divided along ideological lines in what facts to accept as such and what those facts tell. In my view, the progressive advance of global warming is overstated (and much of a speculation), and we are far from reaching a consensus on the role of human factors in the current mild/insignificant temperature increase. It is my (rather informed) belief, that this neomarxist movement (ideologically appropriated by the Western left), cares more about destroying the neoliberal/capitalist economic order than offering irrefutable evidence. The clearest evidence of this ideologisation rests with the meddling of the UN (a left-leaning organization spiraling out of control of its member countries) in this issue. If you want to present here this issue as a real concern only because the UN is dealing with it, you certainly lost me (and many others on the right). Now, if you really want the right wing to seriously look at the issue, remove those neomarxist glasses from the global warming optics, and let's see where the consensus rests.

Global security and peace would lay the foundation for other components of g;lobalisation to function optimally.

Reaching a consensus on a global basis on issues such as climate change, greenhouse gas emissions or international trade may be an extremely difficult task, even under the auspices of global institutions such as the U.N. or the WTO. There will always be dissenting countries which often count with great economic or political power. However, globalization may still experience a significant consolidation which is built step by step, not through global agreements but rather through bilateral negotiations at a regional or subregional level. An interesting case in this respect is the recent signature of a free trade agreement between Brazil, a Mercosur member, and Chile, a member of the Pacific Alliance. With full compliance with WTO regulations both countries have designed a trade agreement for their own reciprocal benefit which will also strengthen the ties between the subregional organizations to which they belong. Bilateral and multilateral agreements are easier to negotiate and can provide a convenient route towards a more robust global cooperation.

Dear Friends and Colleagues of RG

In view of the above, it is also important to include in the above discussion also the following issue:

What are the main determinants of the globalization of financial and banking systems?

How do you assess the processes of globalization of financial and banking systems in the context of the analysis of the sources of the global financial crisis of 2008?

Please reply

Best wishes

The above question inspired me to the following considerations:

How does economic globalization change financial systems?

Does the globalization of financial markets increase the scope of potential systemic credit risk in the sphere of financial systems, including banking systems with particular focus on investment banking?

In the context of the development of international capital markets, the development of stock exchanges, increasingly globalized and related, the importance of globalization of financial markets, including capital markets and stock exchanges, is increasing.

On these capital markets, there are also increasingly large, internationally operating investment banks and investment funds, whose profits generate increasingly from speculative transactions of securities issued by companies and the public sector, including also Treasury bonds of other countries.In addition, currency markets are growing, on which speculatively operating internecional banks and hedge investment and investment funds also speculatively. Before the emergence of the global financial crisis in 2008, it was mainly investment banking that approved the excessive levels of credit risk and speculative, too high, overvalued valuations of securities on stock exchanges.

The recent global financial crisis that appeared in autumn 2008 was an example of the increase in potential systemic credit risk in many countries in which the governments of these countries through the issue of government bonds and their sale to foreign investors led to a significant increase in the risk of a liquidity crisis in the state finances and in many smaller economies, they generated major crises in the debt of state finances.

Do you agree with my opinion?

Therefore, I am asking you the following questions:- What impact does economic globalization have on the potential increase in systemic credit risk on a supranational scale?

- Does the globalization of financial markets and the development of growing global banks and investment funds increase the level of potential systemic credit risk, increase the risk of destablization on many capital markets and thus increases the likelihood of generating another global financial crisis?

- Does the globalization of financial markets increase the scope of potential systemic credit risk in the sphere of financial systems, including banking systems with particular focus on investment banking?

Please reply

I have described these issues in recently published publications:

Article CURRENT AND HISTORICAL DETERMINANTS OF GLOBALIZATION PROCESSES

Article Globalization and the process of the system and normative ad...

Article Anti-crisis state intervention and created in media images o...

Article THE DEVELOPMENT OF THE BANKING SYSTEM IN POLAND DETERMINED B...

Article Adjustment of Polish banks to international standards as a f...

Article THE IMPORTANCE OF ECONOMIC GLOBALIZATION IN THE CONTEXT OF T...

Article Social and economic determinants of the processes of economi...

Article ADMINISTRATIVE, LEGAL AND SUPERVISORY DETERMINANTS OF GLOBAL...

Article The Processes of consolidation and concentration of capital ...

I invite you to discussion and scientific cooperation

Best wishes