The term “globalization” was most commonly used since the 1980s and hence became a term which describes the spread of products, technology, information, and jobs across national borders and cultures. Simply put, globalization designates the interdependence of nations around the world which is fostered by free trade. Corporations benefit from globalization, as companies can reduce costs by manufacturing their goods abroad and by buying their raw materials for a much cheaper price abroad since the tariffs of the products have been either removed or reduced. Through this competitive advantage, firms are able to attract and reach millions of new consumers. Owing to technological advances, international transactions in trade and financial flows have been made quicker and easier. Furthermore, globalization has had an immense impact on the world’s population in terms of the social, cultural, political, and legal discourse. For example, it created opportunities for other countries' populations to bond with each other and shed more light on the operations of organizations like the United Nations (UN) or the World Trade Organization (WTO). Thus, globalization is a social, cultural, political, economic and legal phenomenon. [1][2]

Figure 1: EUROPEAN COMMISSION. (2017). Reflection paper on harnessing globalization

Economics

The focus of economic globalization is on the growth of international trade, the increase in international capital flows, and the dominance of Multinational Enterprises (MNEs). As part of economic globalizations free trade agreements (FTAs) such as the North American Free Trade Agreement (NAFTA), and the Trans-Pacific Partnership (TPP) were established. [4]

Economic globalization reflects the continuing expansion and mutual integration of market frontiers and is a permanent trend for economic development worldwide. The two major driving forces of economic globalization are the rapid growing significance of information and marketization. Thus, the process of the globalization of economies around the world is based on the rapid development of the countries’ science and technologies. Scientific and technological advances have had a great impact on reducing transportation costs as well as broadening communication between different nations which made economic globalization possible. [5]

Political Science

Political globalization studies the possible effects of globalization on political systems around the globe. Global organizations such as the United Nations (UN) were established after the First World War and have helped increase the degree of political globalization. Their goal, ultimately, was to avoid conflicts between nations and to create a framework where it was possible for countries to rely on global legal institutions. [4]

Political globalization refers to the amount of political cooperation that exists between different countries. Building relationships with other countries can be helpful if there is a need to form partnerships to address global issues like natural disasters or diseases. Technological advances, such as the internet and smartphones, make it possible to connect and exchange information with people from different countries. This connectivity made the global population aware of issues happening around the world. Moreover, with the start of the pandemic of the COVID-19 virus, interconnectedness has become even more vital for governments to engage with one another to help to act against the disease. [7]

Other important institutions important for this discipline are, for example, the General Agreement on Tariffs and Trade (GATT) and the International Monetary Fund (IMF) which were founded in 1947. The successor organization of the GATT is the World Trade Organisation (WTO), established in 1995. 

International relations

The discipline of international relations focuses on how globalization affects global conflicts and the emergence of global institutions. International relations emphasize how interconnected the world has become. In the past, international relations have focused on the interaction of autonomous states at the international level, not giving much attention to how globalization and global conflicts also involves and affects domestic issues. Globalization in the international relations discipline emphasizes now, how both domestic and international conflicts are very much connected to one another. [58]  

The origins of globalization are deeply connected with trade. Trade has long been a connecting factor between different regions around the world and often led not only to the exchange of goods, but also culture, religion, knowledge, and other aspects. One of the most notable big-scale trade routes is the Silk Road, one of the biggest continental trade paths in Eurasia, which was active from the 2nd century BC until the 15th century. Historians point out the interesting cases when Greek sculptures were used in China, or goods of Indian origin used in Europe, acting as an indicators for global trade. [9]

In the 15th century, when Europeans developed better sailing techniques, the era of colonialism began. Whole continents were colonized with the purpose of extracting the resources to improve the booming industry of the Metropole. As a result of colonization, the economic interdependence between different regions in the world increased dramatically.

In the decades before the First World War, European countries made significant investments overseas which prompted them to call the period from 1870 to 1914 the golden age of globalization. With its peak in 1880, the introduction of railroads and ocean transport contributed to the reduction of trade costs while making trade accessible for more locations around the world. Due to this great improvement, the rise of manufacturing commenced. Between the years 1900 and 1930, the emergence of electricity and steel production started to impact globalization gradually and thus connecting more areas with one another. Businesses which were producing goods and making trade available to other countries began to rule over the world economy. Owing to the rise of electricity and steel production, MNEs started to dominate globally. 

After the Second World War, from the years 1947 to the 1970s, the GATT and the Marshall Plan were formed. In 1947, the GATT was signed by 23 countries which was a legal treaty to minimize barriers to international trade by eliminating or reducing quotas, tariffs, and subsidies to boost the economic recovery after World War II. Post-World War II, the United States created a global economic system in order to set global rules. Organizations such as the UN, IMF, World Bank, and WTO were established to promote international cooperation and free trade. [4] [10]

By the end of the 20th century, with the collapse of the USSR with its’ communist block and reforms in the Peoples' Republic of China, led to bigger development of globalization. Besides that, the new computer technologies such as the internet or software speeded up the process of countries integration into the global economy.

Capital movements

Another important aspect of globalization is capital movement. Within the development of globalization, capital movements such as foreign direct investments, real estate investments, loans’ grantings, and many other operations of financial institutions contribute to the cross-border capital movements. [2] [15]

Dissemination of knowledge and technology

The exchange of information is an essential aspect of globalization which is often neglected. FDIs, for example, not only consist of the growth of capital stock but also on technological advances, production methods, management techniques, export markets, and economic policies as they are accessible at low cost but are a valuable resource for developed countries. Compared to less developed countries, businesses without these innovations in telecommunication, information technology, and computing knowledge have more difficulties to advance in data tracking and technical resources. Besides the commercial share of knowledge, a lot of countries and institutions within them cooperate globally to handle different socio-political, environmental, security and other problems which require a lot of information exchange. The most noticeable example of such institutions is the United Nations.  [2] [17]

Trade liberalization

The liberalization of trading rules and the deregulation of markets have led to the lifting of trade barriers and allowed tariffs to be lower, which have enabled the making of FDIs worldwide. [18] A motivation for market liberalization has to do with the access to foreign markets. Governments tend to reciprocate the decision of trade liberalization of another country. [19] Organizations such as the GATT and the WTO are the results of modern developments. [18]

Cost effectiveness

The cost of land, capital, and labor varies from country to country and many global businesses use this cost difference to their advantage by outsourcing the production of their goods and services to countries where the labor and environmental regulations are low and more cost efficient. Through this strategic move, companies can produce their products abroad with lower costs and simultaneously sell their goods for a cheap price to the consumer. [18]

Technological development

Technological advances are the backbone of modern globalization. Through innovations in transportation technologies, the industry was able to transform, and geographical mobility was accelerated. The development of commercial jet aircrafts and container shipping in the late 1970s and 1980s shaped the foundation of rapid connectivity between countries, enhancing trade. Furthermore, microprocessors and telecommunication in computers have aided with keeping communication at low cost. With the emergence of the internet, now a major technological driver of globalization, global e-businesses and e-commerce firms were created. Through technological advances like the internet, modern transnational corporations can control their activities abroad more efficiently. [18] [20]

Access to new markets

Since growth opportunities in the domestic market are limited, global expansion has provided enterprises with access to new markets, which allows them to grow and expand their operations.[18] Moreover, consumers are becoming increasingly global in their preferences, and companies are responding by developing products and services that can be sold in multiple markets.

History

After the Second World War, the European continent was devastated. Robert Schuman, the French minister for Foreign Affairs, offered to start the process of reconciliation and thus proposed an economic coalition with West Germany. Through this the European Declaration was born. It was made on the 9th of May 1950 and its main idea was to strategically pool economic resources, like coal and steel, together, in order to make war between European countries materially impossible. Coal and steel were the main factors here, because the coal and steel industry had been fundamental to war-making during the Second World War. After some time, on the 18th of April 1951, the treaty founding the European Coal and Steel Community (ECSC) was signed.[24] Its goal was to build a foundation for economic cooperation and to form a political community. The founding members of this community were: France, Belgium, the Netherlands, Italy, Luxembourg and West Germany. The ECSC treaty is seen as the fundamental basis of the European Union and marked the beginning of a period that set lasting peace amongst European states. In 1957, through the treaty of Rome, the ECSC was changed into the European Economic Community (ECC), whose main objective was to establish a common market that allows the free movement of people and eliminates trade tariffs between member states. After 1991, the EU opened up to Eastern Europe.[25] In 1993, the ECC name was changed into the European Union (EU). This was done, in part, to also reflect the many policy areas that the EU covers: Not only economy, but also the climate, environment, health, security, justice, migration etc. In 1999, the Euro currency was launched, but it was put in circulation only in 2002. [26] In 2012, the EU was awarded the Nobel Prize for Peace “for over six decades contributed to the advancement of peace and reconciliation, democracy and human rights in Europe”. [27] The last country to join the EU was Croatia in 2013. [28] In 2016, the UK announced their decision to leave the European Union. This is known as “Brexit”. In 2020, the UK officially left the EU. [29]

EU pioneers

A group of visionaries built the European Union that we know today. They founded a united Europe, creating a sphere of stability and peace. The following are some of the most important founding fathers of Europe, but there are many more that have worked tirelessly for the creation of the EU: Konrad Adenauer, Sicco Mansholt, Paul-Henri Spaak, Winston Churchill, Jean Monnet, Alcide De Gasperi, Joseph Bech, Altiero Spinelli, Johan Willem Beyen, Walter Hallstein, Robert Schuman. [30]

Institutions and treaties of the EU

In March 1958, the European Parliamentary Assembly was created. After March 1962 it was changed to the European Parliament. [31] The European Parliament is the democratic basis of the EU, and is an institution that represents the citizens of Europe. [32] The European Commission, founded in April 1965, has the role of proposing European laws, which are then approved, modified or rejected by the Council of Europe. [33] The Court of Justice, established in 1952, rules over the legality of the decisions made by the two former institutions and ensure that the laws are applied the same way in all EU member states. It also settles legal disputes between national governments and EU institutions. [34] In 1986, the Single European Act was signed, which eliminated custom fees and allowed the free movement of people, goods, capital and services, and thus added new momentum to European integration. [35] The Maastricht Treaty, also known as the Treaty of European Union, which was signed in 1992, is considered as the foundation treaty of the EU. The treaty granted EU citizenship to every person who was a citizen of a member state. [36] In 1985, the Schengen agreement came to life, after which border controls between Schengen member countries were abolished. [37] In 2007, the Treaty of Lisbon was signed. It is an international agreement that made a few amendments to the Maastricht Treaty. Through a legislative process granted by the Lisbon Treaty, the national parliaments can share their opinions on a specific EU legislation, strengthening the power of EU member states´ national parliaments. [38] [39]

The EU today

The countries that are currently members of the EU are: Austria, Belgium, Bulgaria, Croatia, the Republic of Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden. [40]

As for its size, the European Union has about 4 million km² of land and around 448 million citizens. Between all the members, France is the largest and Malta the smallest EU country by land area. As of 2022, Germany has the biggest population with around 83 million citizens, while Malta has the smallest population, it being around 441,500. [41]

Aims of the European Union

The EU is also governed by the principle of representative democracy, where citizens are directly represented at the EU level in the European Parliament and the member states are represented in the European Council and the Council of the EU. All citizens have the possibility to integrate into the democratic life with institutions like the citizens' initiative. These are important to show that EU citizens have a voice and can also participate in the discussion about their rights and their countries' laws.

The European Union was founded on values and aims, and these are an integral part of the European way of life. They are values of respect for human dignity, freedom, democracy, equality, the rule of law and human rights. This human dignity must be protected, respected and constitutes the real basis of fundamental rights of EU citizens. All those immaterial values are manifested in the law and must be respected by all EU citizens. The EU Charter of Fundamental Rights protects their rights. These cover the right to be free from discrimination no matter what sex, racial or ethnic origin, religious belief, age or sexual orientation, disability, the right for the protection of personal information and the access to justice for everyone. The European Union aims to secure peace and well-being among its citizens and members. It provides security, justice and freedom within its borders and regulates immigration. Furthermore, the EU provides a competitive market, price stability and tries to implement sustainable economic growth. Cultural diversity as well as linguistic diversity are being respected and social discrimination is being combated. Another aim of the EU is the promotion of technological progress and scientific progress. Internally, the European Union seeks to protect the environment and to increase economic, territorial and social interaction, as well as solidarity between all member states. Internationally, the EU promotes its interests and values around the world, actively contributes to protecting human rights, and is heavily involved in the war on global poverty. [42]

The following values are what shape the European Union:

Human dignity: Human dignity has to be respected as well as protected. It builds the basis of the fundamental rights and are not to be violated. [42]

Freedom: All members of the EU have the freedom of movement, which means that citizens can reside freely within the EU and without any country borders limiting them. Other freedoms, such as the individual freedom of thought, expression and religion are being protected by the European Union and are valid for all citizens of member states. [42]

Democracy: The European Union was built on democratic values, giving all members the same political rights. All adult citizens can vote for the European Parliament and everyone has also the right to candidate for it. [42]

Equality: Every citizen of the European Union has the same rights before the law. There is equality between men and women throughout all policies of the European Unions and it is the basis for integration in all areas. [42]

Rule of law: All EU functions and actions are based on the rule of law. Treaties of the European Union are democratically, as well as voluntarily decided. Justice and law are maintained by the independent judiciary of the European Union. Final jurisdiction comes from the so-called “European Court of Justice” and all members have to respect their decisions. [42]

Trade: About 15% of worldwide economic trade is covered by the European Union, making the EU one of the largest players in global trade. In 2019, a total of 4.071 billion Euros were made through international trade and about 3.061 billion Euros through intra-EU trade. [42]

Data protection through the GDPR: The GDPR (General Data Protection Regulation) aims to ensure data privacy, security and protection of EU citizens online. [43]

In the context of the European Union and Globalization, the Europeanization ocuses on the interaction between the EU and its member states [44], in specific, “a Process of change in national institutional and policy practices that can be attributed to European integration” [44]. Thus, Europeanization expresses itself in different spheres such as customs, currency, law and many other aspects which increase the economic and political integration into the EU. [45]

Customs

One of the most noticeable aspects of Europeanization is the customs’ union within EU members. All EU members have a common external tariff on all goods entering the union, while having no tariffs on internal trade between the members.

Besides that, the Schengen agreement abolished all border controls between 23 states of EU, and 4 other non-EU states. [46] The Schengen zone provides free flow of people and products within the area. In 2023 Croatia became a member of the Schengen area. [47]

Currency

20 out of 27 members states use the Euro as their official currency. The Euro is the second-largest reserve currency, as well as the second most-traded currency in the world after USD. The currency entered into circulation in 2002 and since then contributes to the development of European transactions and economy. The European Central Bank is responsible for the Eurozone monetary policies. In 2023, Croatia entered the Eurozone. [48] 

Law and Politics

The 4 main EU institutions, with their distinct functions, work together closely to set the EU’s agenda and initiate and coordinate EU law-making. 

In general, the European Council does not make laws. However, it can agree on changes in the Treaty on the Functioning of the EU. Its main role is to determine the EU’s political direction. In most cases, the European Parliament, the Council of the European Union and the European Commission produce the policies and laws that apply throughout the EU. The process they follow is called the Ordinary Legislative Procedure.

In principle, the Commission proposes new laws, and the Parliament and Council of the European Union adopt them. The member countries then implement them, and the Commission ensures that the laws are properly applied. 

European Parliament

Represents the citizens of EU countries and is directly elected by them. It makes decisions on European laws jointly with the Council of the European Union. It also approves the EU budget. It runs a network of liaison offices in all EU capitals, as well as London, Edinburgh and Washington D.C. 

European Council

The heads of state or government of the EU countries meet, as the European Council, to define the general political direction and priorities of the European Union. The European Council is chaired by a president who is elected for a 2.5-year term, renewable once. It does not adopt laws except for possible EU Treaty amendments.

Council of the European Union

Represents the governments of EU countries. The Council of the EU is where national ministers from each government meet to adopt laws and coordinate policies. Ministers meet in different configurations depending on the topic to be discussed. The Council of the EU takes decisions on European laws jointly with the European Parliament.

European Commission

Represents the common interests of the EU and is the EU’s main executive body. It uses its ‘right of initiative’ to put forward proposals for new laws, which are scrutinised and adopted by the European Parliament and the Council of the European Union. It also manages EU policies (except for the Common Foreign and Security Policy, which is conducted by the High Representative for CFSP, Vice-President of the European Commission), and the EU’s budget and ensures that countries apply EU law correctly. Representation offices act as the Commission’s voice across the EU. They monitor and analyse public opinion in their host country, provide information about EU policies and the way the EU works, and facilitate the Commission’s cooperation with the host member country.

The above mentioned EU institutions serve as the legislative and executive branches of the EU. They are complemented by the following institutions: the Court of Justice of the European Union, the European Central Bank, and the European Court of Auditors. These institutions are responsible for the judicial, financial, and external audit aspects of the European Union. 

Court of Justice of the European Union

The Court ensures that EU law is followed, and that the Treaties are correctly interpreted and applied: it reviews the legality of the acts of the EU institutions, ensures that EU countries comply with their obligations under the Treaties, and interprets EU law at the request of national courts. [45]

Europeanization: other institutions

Besides the above-mentioned institutions, the EU had many other bodies or treaties which contribute to further integration of the countries in different fields. For example, Erasmus Programme contributes to the exchange of students and teachers, EURATOM coordinates nuclear energy and ERCEA manages EU programs on research. [45]

As a big union market, the EU is the 3rd largest economy in the world. Although the intra-EU trade is a main aspect of the union, however, it also accounts for around 14% of the world’s trade in goods. [49]

Besides the development of international trade, various free trade agreements with different regions, EU also promotes its aims outside the world. E.g., European Union pursues anti-dumping measures and protects human rights.  [50], [51]

As the result of globalization, the EU not only promotes its values to the world, but also creates a significant number of jobs and opportunities within the EU. In 2017, more than 36 million jobs (one in seven) in the EU were supported by exports to countries outside the EU. [52]

Since globalization in the world is constantly increasing, so do the number of problems caused by rising economic activity. The issues of inequality between the countries, economic interdependence, environment, unemployment and many other factors are often debated when discussing the negative effects of globalization. Global economic crises are examples that are often mentioned when indicating the risks of globalization. The Great Depression, the 2008 economic crisis and the 2019 pandemic are good indicators of the interdependence of markets. [53][54] 

The European Union member states also face several problems due to bearing a shared responsibility according to different EU laws and regulations. The migrant crisis of 2015 and the Ukraine crisis of 2022 were met with negative reactions by a big proportion of the population which led to a rising popularity of right-wing parties, that usually follow EU-scepticism politics. The protection of domestic markets, public security, resource security issues and other factors, serve as arguments for more conservative policies implemented by different EU countries. The above factors influenced the UK population, which voted in favor of leaving the European Union in 2016. The United Kingdom became the first country ever to trigger Article 50 of the Lisbon Treaty and left the EU in 2020. Although the long-term effect of the so-called “Brexit” is still not clear, the exit of the UK resulted in job losses, loss of  competitiveness and openness of the economy.

With the escalation of the Ukrainian crisis in 2022, the EU faced another migrant crisis and started working on mutual problems of energy security. This further escalated the increase in popularity of eurosceptic political parties [55][56][57][58]  and challenged the concept of “Globalization” known so far. Due to western sanctions on Russia, European industries have been forced to re-route their operations and focus on doing business with Asia, resulting in globalization increasingly stemming from such countries. [59]  Simultaneously, de-globalizing forces concerning the US have been set in motion, forever changing the path of globalization. [60]

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Figures

Figure 1: Difference between Internationalization and Globalization. Retrieved from https://keydifferences.com/difference-between-internationalization-pind-globalization.html 

Figure 2: Silk Road in 555 AD. Retrieved from Wikipedia, User: Aldan-2.

Figure 3: Development of international trade in goods, EU, 2012-2022. Retrieved: Eurostat (ext_st_eu27_2020sitc)

Figure 4: Immigrants from outside EU and emigrants to outside EU, EU, 2013-2021. Retrieved from Eurostat (migr_imm12prv) and (migr_emi5nxt). 

Figure 5: RCEP members; retrieved from Deutsche Welle; https://www.dw.com/en/rcep-asia-readies-worlds-largest-trade-deal/a-60267980

Figure 6: French Foreign Minister Robert Schuman signs the agreement in 1950 that led to integration of the coal and steel industries of six participating nations, the precursor to the European Union.  Retrieved from: https://www.cvce.eu/en/obj/robert_schuman_signs_the_european_convention_on_human_rights_rome_4_november_1950-en-b26dbb71-f2a5-42ac-8406-c9c768c98698.html 

Figures 7 & 8: EU institutions. Retrieved from https://moodle.balcanicaucaso.org/mod/book/tool/print/index.php?id=53&chapterid=117 and https://www.dreamstime.com/european-union-institutional-logos-icons-set-vector-collection-eu-symbols-isolated-white-background-including-image236999947 

Figure 9: EU Members' Map. Retrieved from:  https://fra.europa.eu/en/cooperation/eu-member-states 

Figure 10: Retrieved from https://www.bbc.com/news/uk-politics-36616028

Figure 11: Anti-EU protests in Prague,2022. Retrieved from https://www.reuters.com/world/europe/thousands-czechs-protest-governments-handling-energy-crisis-2022-09-28/