Globalization - Where Are We Headed?

Broad Horizons: Thirty-two percent of the chief executives at 231 of the world’s largest companies spent at least one semester of their student years abroad. ©istockphoto: Rattankun Thongbun

Knowledge-sharing and economic exchanges around the world relate to value creation, raw materials and competencies. The trends took on a new dynamic when the term “globalization,” as already mentioned, was coined during the 1990s. One example can be seen in the European economic zone; other measures such as the dismantling of customs barriers contributed to the phenomenon. A growing number of bilateral and multilateral organizations emerged – as did the desire for agreed-upon standards to enable an even more straightforward exchange of goods and services.

Is the wheel of Globalization spinning backward, or is it gaining momentum?

As a result, industrial standards have become widespread. So have environmental standards and, much more importantly, the benchmarks for occupational safety and the organization of work. The process cannot be reversed either. But why is that? The way that politicians, business people and especially scientists and other researchers – after some early difficulties – responded collectively to the pandemic, shared information and launched joint research projects provides just one more illustration of what is possible today through cooperation and networks. Globalization is an opportunity. It takes individuals and entire societies along a path to a better future. We have largely lived in peace in Europe since the end of World War II, a period of 75 years, and globalization has made a contribution to this. It creates transparency for progress and innovation. It facilitates communication. It has the potential to manage conflicts and find solutions to problems that have no boundaries. This applies equally well to combatting a virus and to the fight against climate change.