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At a time when globalization seems to be under threat, this chapter focuses on its impact on development and developing countries. It aims to trigger new debates and reflections, especially for those who are working on and studying development.
In this chapter, readers learn that globalization has been a buzz-word in international development that has deeply impacted the theory and practice of development. Borders were trespassed if not abolished, and thanks to technological innovations, the world became one single economic entity. But the heralded benefits of globalization did not always materialize. Globalization was meant to create a global economic order that would raise millions out of poverty. The number of people living in absolute poverty is indeed lower than in decades past, but inequities are greater. Additionally, populist leaders such as former U.S. president Donald Trump embraced strong anti-globalization sentiments by calling for tightened borders, increased tariffs, and national-focused growth. The COVID-19 pandemic spread quickly through global trade and transport routes, but also derailed many of the assumed practices of globalization within a matter of months.
Globalization’s past, and current trajectory, result in new sets of relationships and activities that take place regardless of physical geographical location. Yet, this process has experienced serious opposition since 2007, both from the grassroots and from the highest political offices in the world. The institutions that were mandated to manage globalization are under stress, such as the World Trade Organization, the International Monetary Fund, the World Bank, and even the United Nations. Regional or continental structures of integration (in North America and Europe) are being challenged by conservative and nationalist forces from the right. Conflicts in the Middle East and North and West Africa abound, putting further stress on globalization.