Globalisation: fact or marketing tool?


  • English
  • Arabic

I am writing this column in a French-style cafe in the Dubai International Financial Centre (DIFC), probably the most globalised location in the most globalised city in the Middle East.

Next door is a British bank, across the way is a German financial institution, and a short walk away are the offices of a gigantic Asian financial conglomerate.

For lunch I had Mexican fajitas. Last night I ate Japanese cuisine in an Emirati-owned hotel just a stone's throw from here. The waiters were Filipino.

Who can deny the facts of globalisation? Especially in a city such as Dubai, the inexorable creep of international, cosmopolitan culture and lifestyle appears 100 per cent natural and inevitable.

Since the concept of globalisation materialised, it has become widely accepted by economists, businessmen and socio-political commentators to describe the process by which local and national differences around the world are being elided, or "flattened", in the words of its most persuasive advocate, the US journalist and author Thomas Friedman.

The fact of globalisation has not been in dispute for many years, whether you are a jet-setting captain of industry travelling first-class high over the Himalayas, or an anarchist battering the windows of Starbucks in London's posh shopping district. Some were for it, some against it, but nobody denied it.

I confess I was very much for it. As a business journalist, I had to look at commercial and financial matters in a globalised context, because that's exactly what my subjects, targets and sources were doing.

In the 1990s, I was a convinced advocate of the EU; by 2005, after my first trip to China, I was confirmed in a broader globalist view; moving to and working in the Middle East was proof positive, I thought.

But now, something has come along that for the first time has caused me to doubt that weltanschauung.

Pankaj Ghemawat is an Indian academic living in Spain, himself an example of globalisation, you might think. But he has just produced a book that will be required reading for all economic, political and business strategists.

In World 3.0: Global Prosperity and How to Achieve it, Mr Ghemawat argues the things that make us different as people, nations and cultures are just as important, and often far more significant, as the things we have in common. His argument is not based on any primitive nationalistic chauvinism, but on a wide range of empirical research and case studies.

(Because the book is not published yet in the UAE, I am grateful to a review in The Economist newspaper for the statistical details that follow.)

The author argues that economic globalisation is exaggerated. Trade between two otherwise identical countries will be larger if they have language, culture and history in common. Staggeringly, two similar countries are far more likely to have good trade relations if they have common colonial "suffering". So much for the evils of imperialism.

In other words, the traditional factors that delineate economies are much more significant than the globalising factors such as international finance, electronic communications, the internet, or cheap air travel.

Foreign direct investment accounts for only 9 per cent of all fixed investment, he reveals; only 20 per cent of venture capital goes outside the funds' domiciles; foreign investors own only about 20 per cent of shares on the world's stock markets.

The internet, the so-called great globaliser, comes under special scrutiny. Only about 18 per cent of internet traffic crosses national borders, Mr Ghemawat finds, and that proportion will decrease as national governments impose their own regulatory restrictions on content.

There are as many forces working against globalisation as there are for it, he says. Protectionism is on the rise everywhere, whether in the form of straight tariffs, border bureaucracies or the costs and complexities of the global visa "industry", valued at US$88 billion (Dh323.23bn) per year.

Now all this could be rubbish. Certainly sitting here in the DIFC it doesn't feel right. But hold on.

Am I one of the mere 10 per cent of people who has ever travelled outside their native land? Or am I one of the 2 per cent who believes they will die outside the country in which they were born? When you put it like that, it suddenly seems more relevant.

Maybe I'm one of the 40 per cent who used to be in favour of globalisation until summer 2008, but who now feel it's a con, a device fabricated by sweaty investment bankers on the Friday evening flight from Brussels to London; and by academics, who like to sell a book or two.

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Fines for littering

In Dubai:

Dh200 for littering or spitting in the Dubai Metro

Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle. 
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle

In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches 

Scoreline

Man Utd 2 Pogba 27', Martial 49'

Everton 1 Sigurdsson 77'

Groom and Two Brides

Director: Elie Samaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

UAE currency: the story behind the money in your pockets
All%20The%20Light%20We%20Cannot%20See%20
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ESteven%20Knight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EMark%20Ruffalo%2C%20Hugh%20Laurie%2C%20Aria%20Mia%20Loberti%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E1%2F5%C2%A0%3C%2Fp%3E%0A
Getting there

The flights

Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.

The stay

Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net 

Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama

Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

Engine: 3.5-litre V6

Transmission: eight-speed automatic

Power: 290hp

Torque: 340Nm

Price: Dh155,800

On sale: now

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.

 

UAE currency: the story behind the money in your pockets
Tips to keep your car cool
  • Place a sun reflector in your windshield when not driving
  • Park in shaded or covered areas
  • Add tint to windows
  • Wrap your car to change the exterior colour
  • Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
  • Avoid leather interiors as these absorb more heat