GLOBALIZATION FAILURE AND THE RISKS TO THE EUROPEAN AND GLOBAL SECURITY

Abstract

The article, resulting from an analysis of the globalization process, attempts to answer, arguably, why this process was a failure. According to the authors, globalization made its presence felt, sharply, after 1990, of the last century, manifesting itself in a sustained rhythm and widely influencing all sectors of the social life of humanity, especially the economic and financial sector, based on the concept of the global market as a sum of national markets. Following the analysis, the authors note that, until 2008, when the crisis of the global and social economy started, the globalization process had manifested its presence, having a significant growth rate. Yet, after this year, it slowed down its expansion, to the point today that this phenomenon, once giving great hope – particularly to developing countries – has failed. The authors wonder whether or not the “old globalization” is now heading for a new horizon, in which it can be reinvented, passing into a new stage of evolution in such a manner that it is as equitable for the whole mankind, without generating insecurity for the nations of the world.

Keywords

• the evolution of globalization
• exchange markets
• global economy
• hegemonic countries
• international institutions
• sovereignty