The evolving world: globalisation, nationalism, and what will remain

Globalisation changed the world during the last two decades. It promised a future where countries would cooperate. They would share resources and grow together. Many believed that a more connected world would bring peace, prosperity and social harmony. The hope was that borders would matter less and people everywhere would benefit from progress.

But the world did not move exactly in that direction.

For many years, globalisation was seen as the main road to economic growth and international cooperation. But several events changed this belief. The attacks of 9/11, different wars, the rise of nationalism, Brexit and the trade dispute between the United States and China created doubt about the future of an open world. While globalisation brought real progress, it did not fulfil all the hopes attached to it. Today, the world is asking what globalisation truly achieved and what it could not.

The internet changed communication more deeply than any political event. Social media, online markets and new communication tools brought people closer than ever before. Even with rising nationalism, the digital world will continue to connect societies. It will support education, business and public awareness across borders. The free flow of information will continue to shape ideas and movements.

Cultural exchange is one of the strongest results of globalisation. Movies, music, fashion, and food now travel from country to country with great speed. Hollywood, K-pop, global fashion trends and international cuisine have become part of daily life in many places. While countries try to protect their local identities, global media still influences people and creates a blend of local and global culture.

Globalisation also made education more accessible. Platforms such as Coursera, edX and YouTube opened learning opportunities to people everywhere. Many individuals in developing countries learned new skills and explored careers that were once difficult to pursue. Online learning will remain a powerful tool for progress in the years ahead.

Even with more trade restrictions, economies remain linked. Countries depend on one another for raw materials, technology, and markets. Global supply chains still support industries around the world. High technology products, online business and manufacturing continue to rely on cooperation between nations. The digital economy will grow further and bring distant markets even closer.

Globalisation also supported scientific and technological development. Sharing ideas and resources helped countries develop new technologies in artificial intelligence, clean energy and medicine. This international cooperation will stay important as the world deals with common challenges such as climate change and disease.

However, globalisation did not fulfil some important expectations. Many people hoped it would reduce inequality. But while it lifted millions out of poverty, it also widened the gap between the rich and the poor. Many local industries in developing countries could not compete with global companies. This caused job losses and economic pressure.

Joseph Stiglitz, a well-known economist, explains that the economic policies linked to globalisation helped wealthy groups more than poorer communities.

Globalisation also raised hopes that economic cooperation would lead to peace. People believed that if countries traded more, they would avoid conflict. But recent history shows otherwise. The conflict between Russia and Ukraine, tensions in the Middle East and struggles between major powers show that war and competition continue.

William Robinson, a respected sociologist, says that while economies became connected, social divisions and cultural tensions remained strong.

There was also hope that globalisation would build a feeling of global unity. Instead, it strengthened national identities. Populist movements grew in many countries. People questioned global institutions like the European Union, the United Nations and the World Trade Organization. Instead of promoting global unity, globalisation sometimes increased cultural and political divisions.

Looking back, the dream of a completely integrated world may have been too hopeful. National interests, political pressures and economic inequality proved stronger than expected. The digital divide also remains. Many people still do not have access to the opportunities created by the modern knowledge economy. A child in a rural village without internet cannot benefit from the same education as a student in a major city. This gap continues to limit progress.

Even so, the achievements of globalisation are significant. They show that cooperation between countries can bring real progress.

Recent events suggest that globalisation is changing, not disappearing.

Xi Jinping, President of China, recently called globalisation an unstoppable trend and encouraged world leaders to support open trade. His statement shows that major economies still see value in global cooperation.

On the other hand, Mark Tucker, Chairman of HSBC, believes that many parts of globalisation have reached their limit due to tensions and trade barriers. He says the world may move toward stronger regional trade networks.

These different views show that globalisation is adjusting to new realities rather than fading away.

The lasting results of globalisation such as digital connections, cultural exchange, global trade and scientific cooperation will continue to shape the world. Countries may tighten their borders, but the forces that connect people will remain active.

Globalisation is still an ongoing journey. Its promises of complete peace and equal prosperity have not been achieved. But what it has accomplished is important and will guide future policies. The way nations choose to cooperate today will decide how the world moves forward.

Copyright Business Recorder, 2025