The Department of International Studies, Political Science and History held a guest lecture on 20 September 2022. The guest speaker for the day was Dr. Rahul Tripathi, Professor of Political Science in the DD Kosambi School of Social Sciences and Behavioral Studies, Goa University. Dr. Madhumati Deshpande, Co-ordinator and Professor of the department introduced the speaker. The speaker addressed the topic of “Dynamics of a ‘De-Globalized World’: Lessons for India”, highlighting the evolution of ‘de-globalization’ as a trend as well as India’s role in the de-globalized world.
The speaker began the lecture by briefing the students about globalization, the inception of the concept and its evolution through the years. He gave examples of John M Keynes’ writing about globalization, as well an ideal definition for the concept, while being aware that there cannot be one single definition for globalization per se. He also highlighted its flaws, theorists who disagreed with the rapid speed of globalization, and how the growing discontent and the global crises led to a rise in the trend of de-globalization. He took the writings and ideas proposed by theorists like Joseph Stiglitz, who spoke about how the way international organizations like the IMF, World Bank and the WTO are not beneficial to all countries, and that they actually create inequalities between countries, and instead preferred a globalization model supported by strong national governments.
He then traced the beginning of de-globalization, from the 2008 Subprime crisis and the resulting economic crash that affected the world greatly and revealed the flaws of globalization: unregulated global financial systems, spread of financial shock across the globe, and how the financial crisis spilled over to trade, production and employment. The speaker continued to explain the features and more examples of de-globalization, including Brexit and Trumpism, emergence of nationalist leaderships across the world, and the stalling of WTO processes and criticisms of the WB and IMF.
He gave further instances where the idea of de-globalization, or ‘slowbalization’, was reinforced, with the still-ongoing COVID-19 Pandemic and the Russia-Ukraine conflict, driving the idea of de-globalization across the world. He also spoke on how these led way to ‘Plurilateralism’, the forming of strategic political and economic alliances. He also spoke about Peter Zeihan’s ideas about how de-globalization is the beginning of a ‘next world’, where countries will have to be self-sustainable and will tend to be isolated in its policies and functioning.
However, he also brought in common disagreements that are present against the idea of de-globalization, emphasizing on how political globalization may retreat but economic globalization will continue to thrive in different avatars. He also emphasized on how developing technology will inevitably transform design, manufacturing and delivery, and how greater interconnection and interdependence between countries will remain.
Finally, he brought in the perspective of India and its role in this de-globalizing world. India, seen as a ‘shining star in the midst of global gloom’, must make choices that will strengthen its place in the de-globalizing world. He said how the country will have to make choices about greater democratization, openness and participation in global governance, reinforce beliefs that India has always stood for, and focus on internal political economy based on pluralism, diversity and inclusion and how that will strengthen its own credentials. The speaker concluded the lecture by outlining his points, and then opened the floor for questions.
The students enthusiastically engaged the speaker with questions about de-globalization, international institutions, maritime security in de-globalization and such, which the speaker answered. Dr. MJ Vinod, Professor, Department of ISPH then gifted the speaker with a memento, followed by the Vote of Thanks given by Dr. Manoharan N, Professor, Department of ISPH.
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