Descriptive ESI – RBI Grade B 2023: Different Dimensions of Globalization

Here is an answer outline with hints for the topic “How are the different dimensions of Globalization evolved since the last Global Financial Crisis of 2008. Analyze its impact.”

  • Introduction
    • Define globalization and its different dimensions
    • Discuss the impact of the Global Financial Crisis of 2008 on globalization
  • Body
    • Economic globalization
      • Discuss the decline in trade and investment following the financial crisis
      • Discuss the rise of protectionism and nationalism
      • Discuss the impact of these changes on global economic growth
    • Political globalization
      • Discuss the decline in multilateralism and the rise of regionalism
      • Discuss the impact of these changes on global governance
    • Cultural globalization
      • Discuss the rise of cultural clashes and the decline of cultural homogeneity
      • Discuss the impact of these changes on global identity
  • Conclusion
    • Summarize the main points of the essay
    • Discuss the future of globalization

Here are some hints for each point in the body:

Economic globalization

  • The decline in trade and investment following the financial crisis was due to a number of factors, including:
    • The collapse of Lehman Brothers and other major financial institutions
    • The global recession
    • The sovereign debt crisis in Europe
  • The rise of protectionism and nationalism has been a reaction to the perceived negative effects of globalization, such as job losses and economic inequality.
  • The impact of these changes on global economic growth has been mixed. Some countries have benefited from the decline in trade and investment, while others have suffered.

Political globalization

  • The decline in multilateralism has been due to a number of factors, including:
    • The rise of China and other emerging powers
    • The US-led invasion of Iraq
    • The financial crisis
  • The rise of regionalism has been a reaction to the perceived failures of multilateralism.
  • The impact of these changes on global governance has been mixed. Some argue that it has led to a more fragmented and ineffective system, while others argue that it has made it easier for countries to cooperate on issues of common interest.

Cultural globalization

  • The rise of cultural clashes has been due to a number of factors, including:
    • The increasing interconnectedness of the world
    • The rise of social media
    • The spread of Western culture
  • The decline of cultural homogeneity has been due to the increasing diversity of the world’s population.
  • The impact of these changes on global identity has been mixed. Some argue that it has led to a more cosmopolitan and tolerant world, while others argue that it has led to a more fragmented and divided world.