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Publications

The third wave of globalisation

economy, finance, globalisation, trade

Author(s): Will Straw, Alex Glennie
Published date: 26 Jan 2012
Download full publication Purchase via print on demand

This report, the culmination of an international programme of research into the drivers and consequences of globalisation, calls for a rethink in international governance and a more 'personcentric' view of globalisation.

'An interesting report that gets to the heart of the rise of the BRICs' – Jim O’Neill

'An important intervention' – Will Hutton

‘A very welcome report … and an important contribution to the debate’ – Gerard Lyons, Standard Chartered

The report argues that the world is facing the third wave of globalisation, one characterised by the lack of a single leading nation or foundational project. Lord Mandelson, who led IPPR's Future of Globalisation project, outlines the crucial challenges posed by this 'third wave':

'In the increasingly multipolar world in which we live, it is arguable that no single world view will emerge to define the way we manage globalisation. But, while the end of a world in which the west dictated the terms of globalisation is not necessarily a tragedy, a world without a shared set of principles for managing globalisation would be. This report is not naïve about the prospects for global governance, but it argues for new rules accepted by developing and developed countries alike, because ‘no rules’ is not a sustainable option.

'We must learn (or re-learn) the simple fact that we need effective states and governance to get the best out of globalisation. All of our recommendations start from the assumption that the tools of international and domestic governance need to be used strategically, to preserve the good in globalisation and to counter and minimise the bad.'

The report analyses the underlying and resulting global economic and social trends, including growth and inequality, and also presents evidence from globalisation experts and participants in China, India, Brazil and other key player nations.