Although globalisation has undoubtedly tasted much success, there have been many examples of failure. The problem lies in continued progression whilst respecting the rights of man, and not in demonizing an unstoppable phenomenon (Anon 2002). If globalisation is to continue, it must diminish financial instability, manage migration, help failing states and secure a working balance between national sovereignty and international regulation (Wolf 2003).
We have seen that globalisation does cover a range of social, political and economic aspects. But enough so to be the new defining phenomenon of millennium?
Maybe yes, but maybe not global. We are still not fully globally integrated. There are some countries such as Pakistan which choose to opt out for fear of Americanisation and other countries in states in Africa which are not suitable for foreign direct investment and have little to trade. Globalisation is not and never was global (The Economist 2002), it is internationalisation. As Wolf (2005) observes "If we want a better world, we need not different economies, but better politics."
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