Ib first assignment Essay


Globalization involves a transformation process of global regional or local phenomena - Ib first assignment Essay introduction. This process involves combination of political, social-cultural, technological and economic forces (Aurifeille & Svizzero pp 65). Globalization usually refers to globalization of economy i.e. national economies integration through technological spread, migration, capital flow, foreign investments and trade. On the other hand, according to china magazine of globalization, globalization is a term in which imperialism present itself within its present phase. However, the author suggests that this term is a misnomer (Aurifeille & Svizzero pp 65). This is because of its implicit suggestions in degree of commodity freedom and the flow of capital of current epoch is a thing that is unprecedented in capitalism history and is unattainable. According to this magazine the current period isn’t suigeneris, other than what have been unprecedented concerning it is a different thing altogether. This includes immense financial globalization and revolution of communication among others which has been made possible by inter-alias (Aurifeille & Svizzero pp 65).

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Finance globalization and emergence of finance capital internationally has been at the center of the present imperialism phase (Aurifeille & Svizzero pp 65). This paper will focus on finance globalization to explain the interpretation of globalization according to china magazine of globalization.

Interpretation of globalization

According to china magazine of globalization there are two misconceptions about process of finance globalization. One relates to the nature of this process and the other misconception relate to the implications of these process. According to this magazine the notion of finance assets and the associated finance globalization does not make the process of production under capitalism to be irrelevant. In addition this notion does not make the multinational corporations involved in production process and talked about in imperialism context to be secondary (Aurifeille & Svizzero pp 66). This magazine talks about monopoly and suggest that they constitute a superstructure in the old capitalism and results to mosaic reality. The author suggests that finance capital in the new world can be thought to constitute of a superstructure that is erected on earlier capitalism monopoly that result to a medley reality. The multinational corporations according to this magazine are no longer important and they have been enmeshed in the finance world, with finance globalization process, with the mission for speculative gains and with mission for cheap assets acquisition across the globe due to the process of globalization of finance (Aurifeille & Svizzero pp 66).


The china magazine of globalization portrays a neutral interpretation of globalization. This magazine suggests that it is wrong to think of multinational corporations as the major actors in modern imperialism since many changes have occurred (Aurifeille & Svizzero pp 67). It would also be erroneous to think of multinational corporations as if they have not changed in behaviors and attitudes. In addition, this magazine suggests that it is wrong if the multinational corporations are not thought at all on the basis that every that mattered presently was merely tentative capital finance (Aurifeille & Svizzero pp 67). The magazine suggests that we ought to think of novel mosaic reality in which finance globalization is placed over the older pre-existing entrepreneurship, and the current and new form capital finance across the globe that comes before this course isn’t  a separate entity  from the multinational corporations but one in which they are entangled (Aurifeille & Svizzero pp 67).

Work cited:

Aurifeille J & Svizzero S: Leading Economic and Managerial Issues Involving Globalization, ISBN 1594545650, Nova Publishers, 2005

Magdoff H & Foster J: Toward a New Internationalism, 2000. Retrieved on 17th January 2009 from;http://monthlyreview.org/700editr.htm.

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