a. History repeats itself
This argument is based on a general point of view: Globalization is nothing new. In the 1950’s trade links emerged between Asia Africa Europe and the Americas. While the Spanish colonies mined silver in Manila and shipped it to China (Parker, 2005). Thus, claim that interdependence now is no different to the late nineteenth century (Mansbach and Taylor, 2012). They also believe that the nineteenth century usage of the gold standard is much like the usage of the current monetary system.
They argue that national governments are essential to the regulation of international economic activity and that the …show more content…
They assume businesses find it important to generate wealth by forging links with suppliers and customers but are mainly concerned in assessing the ‘butterfly effects’ which can often be unpredictable. This perspective highlights that there is no single cause behind globalization and that the final outcome of globalization cannot be definitely determined (Kopnina and Blewitt, 2015) (Parker, 2005). Moreover, transformationalists interpret globalization as a powerful driving force in social, political and economic transformation that reshapes modern societies and world order (Yokoyama, 2010). Thus, the better world envisioned is one based on partnerships that realize gains made when civil society, businesses and governments worldwide collaborate (Parker,