A pervasive force that evades easy analysis, globalization has come to represent the export and import of culture, the speed and intensity of which has increased to unprecedented levels in recent years. The Cultures of Globalization presents an international panel of intellectuals who consider the process of globalization as it concerns the transformation of the economic into the cultural and vice versa; the rise of consumer culture around the world; the production and cancellation of forms of subjectivity; and the challenges it presents to national identity, local culture, and traditional forms of everyday life.
Discussing overlapping themes of transnational consequence, the contributors to this volume describe how the global character of technology, communication networks, consumer culture, intellectual discourse, the arts, and mass entertainment have all been affected by recent worldwide trends. Appropriate to such diversity of material, the authors approach their topics from a variety of theoretical perspectives, including those of linguistics, sociology, economics, anthropology, and the law. Essays examine such topics as free trade, capitalism, the North and South, Eurocentrism, language migration, art and cinema, social fragmentation, sovereignty and nationhood, higher education, environmental justice, wealth and poverty, transnational corporations, and global culture. Bridging the spheres of economic, political, and cultural inquiry, The Cultures of Globalization offers crucial insights into many of the most significant changes occurring in today’s world.

Contributors. Noam Chomsky, Ioan Davies, Manthia Diawara, Enrique Dussel, David Harvey, Sherif Hetata, Fredric Jameson, Geeta Kapur, Liu Kang, Joan Martinez-Alier, Masao Miyoshi, Walter D. Mignolo, Alberto Moreiras, Paik Nak-chung, Leslie Sklair, Subramani, Barbara Trent

At any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different circumstances, issuing governments may welcome and promote the internationalization of their currency, tolerate it, or actively oppose it. Benjamin J. Cohen offers a provocative explanation of the strategic policy choices at play.
           
In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven it is to build or sustain a prominent place in the international community. When a currency becomes internationalized, it generally increases the power of the nation that produces it. In the persistent contestation that characterizes global politics, that extra edge can matter greatly, making monetary rivalry an integral component of geopolitics. Today, the major example of monetary rivalry is the emerging confrontation between the US dollar and the Chinese renminbi. Cohen describes how China has vigorously promoted the international standing of its currency in recent years, even at the risk of exacerbating relations with the United States, and explains how the outcome could play a major role in shaping the broader geopolitical engagement between the two superpowers.