Introduction
The concept of a new global world is focusing on the association between the increased interconnectedness and interdependence of different countries and cultures. It has been observed that the phenomena of new global worlds is focusing on the way advances of technology are increasing the cultural aspects of different countries (Küng, 2004). Technology and trade facilities of the countries are becoming beneficial for advancing the global economy. Therefore, the exchange of ideas and cultures are giving unprecedented results to the new global world. The main aim of this essay is to identify the way the new global world is becoming beneficial for giving greater wealth to some people whereas some people are suffering unjustifiably. In order to enhance the economic condition of the country the nature of the new global world will be discussed in this essay.
Discussion
The nature of the new global world is focusing on the way interconnectedness has highlighted the various events and developments of countries. For example it has been observed that ongoing discussion about the new ceasefire in conflict zones has increased the sufferings of some people whereas impact of climate events has also changed the dynamics of international politics (Hilaire-Pérez and Verna 2006),. The new global world is also evaluating the way global repercussions have impacted the local events. According to the historical perspective of globalisation it has been observed that the world has been interconnected for centuries through implementing several trade routes such as silk road which is becoming beneficial for increasing the events of exchange of goods and ideas between countries (Schwartz, 1994). In terms of the future of globalisation in the context of the new global world it has been observed that flows of goods, knowledge and cultures can be beneficial for shaping the interconnected world. It has been observed that the concept of sustainability and maintenance of biodiversity is shaping the nature of the new global world. Global Biodiversity Framework has implemented a significant increase in this area which is aiming to guide the actions of the world for preserving the essential services to people (Grant 2014). This framework also includes the way ambitious targets such as conserving the lands of earth and oceans can be achieved by reducing the rate of invasive alien species. It has been observed that the above mentioned framework is focusing on the implementation of nature based solutions for addressing climate change which is aiming for contributing to the reduction of carbon dioxide. In this context, the need for conducting a systematic view while addressing the environmental challenges has been done by the World Economic Forum. The role of business for achieving the strategic global goals has also been evaluated by this policy.
In the context of the sub theme of the early modern era it can be stated that globalisation, economic development and scientific advancements can be considered. This era has witnessed the beginning of globalisation through focusing on the globally interconnected world. The expansion of the European Empires often referred to as proto globalisation which is characterised by increasing the trade links and culture exchange among the countries. Maritime trade routes have been expanded during this time within the global trade networks such as Spice Trade (Gupta, 2008). This era has also been characterised by large scale conflicts and growing demand for commodities. The transfer of plants and animals has also been implemented in this era which is being addressed by the term Columbian Exchange.
In the context of the economic development of this era it has been observed that several significant changes have taken place such as the rise of capitalism, expansion of commerce and rise of mercantilism (O’rourk and Williamson 2002). The rise of capitalism denotes the development of western entrepreneurs and merchants who are manipulating the capital in an unprecedented way due to which some people have generated greater wealth whereas some people have suffered due to poverty. Capitalistic views of society have led people to make differences between each other by focusing on the economic condition. Expansion of commerce in the 16th century has saw vigorous expansion. Expansion of commerce has tightened the bonds within the Europe through spanning the wheel of commerce in more faster ways. This period was focusing on integrating Europe into the world economic systems for increasing the trade systems. The rise of mercantilism has also enhanced the gap between the poor and rich people by generating more money for one class of people and enhancing the suffering of others (Alfani, 2015.)
In the context of the scientific advancements within the early modern era it has been identified that this was a transformative period which is referred to by the term Scientific Revolution. This period has observed numerous advancements in the field of science. In the context of astronomy the proposal of a heliocentric model by implementing planetary motions has been done. In the field of biological expansion it has been observed that advances in human anatomy have been made and in the context of chemistry the chemical nomenclature has been developed.
Therefore it can be stated that the early modern era has seen several advancements which have not only enhanced the progress of the world but also enhanced the economic gap between the people. The gap between rich and poor in the early modern era was significant and it was often led by vicarious social and economic impacts including income inequality. In pre industrial society the occurrence of World War has increased the income gap due to which wealth concentration has become a significant issue.
Conclusion
Based on the above discussion it can be concluded that the early modern era has faced several advancements in trade and financial development, however the economic disparity among the people has impacted the growth of the society. It has also been observed that this phase has increased the maintenance of economic policies while poor people have limited access over the resources. The wealth gap in the USA was significant and remained substantially over time.
References
Alfani, G., 2015. Economic inequality in northwestern Italy: A long-term view (fourteenth to eighteenth centuries). The Journal of Economic History, 75(4), pp.1058-1096.
Grant, R.M., 2014. Beating time and measuring music in the early modern era. Oxford University Press.
Gupta, A., 2008. Globalisation and difference: cosmopolitanism before the nation-state. Transforming Cultures eJournal, 3(2).
Hilaire-Pérez, L. and Verna, C., 2006. Dissemination of technical knowledge in the middle ages and the early modern era: New approaches and methodological issues. Technology and culture, 47(3), pp.536-565.
Küng, H., 2004. Global responsibility: In search of a new world ethic. Wipf and Stock Publishers.
O’rourke, K.H. and Williamson, J.G., 2002. When did globalisation begin?. European review of economic history, 6(1), pp.23-50
Schwartz, S.B. ed., 1994. Implicit understandings: observing, reporting and reflecting on the encounters between Europeans and other peoples in the early modern era (Vol. 3). Cambridge University Press.
