A World of Polars
In this scenario, the world is composed of several regions like EU. Within each region, the barries such as exchange rate or quota no longer exist between countries, in other words, it is a free trade region. People will share more in common than they do today due to plenty of communination in culture and economy. Several major languages will be more popular in one region. But there still will be barriers between different regions. We can say then that the region acts more like a single country today. It protects its memebers by greater economy power produced via combining nations tightly and speaking in one voice.
National governments will not play as important roles as they do today in making decisions such as exchange rate. The reason is that the same currency in each single region excludes the problems with exchange rate. Due to the disappearance of exchange rate in a region, the influence of national goverments in the international finance market also decreases. However, national governments will still hold power, although will decrease a little bit, in developing national cultures. In addition, national governments are going to control their own economy structure which largely affects their national economy. They also need to care about the envrionment of their own countries.
Development of technology will make communication more convinient. In a single region, people will not have to apply for visa when they plan to travel. Just buy a ticket and all is done. So it is more like tavelling in a villiage. Besides, the Internet will be even more popular and powerful. With the help of advanced Internet, people in one region will share more in common, such as languages. The TV program will be more regional shared by countries in one region. But for different regions they have different Internet standards. This is becuase more and more affects Internet will have on regional economy, the region wants to control its own security. The region wants to make their own decision on the development of Internet.
Transnational enterprises will focus more in one region not one country for the international finace which supply capital for them deals mainly with regional economy not a single country. As a result of the regionalized world, international finance organizations such as IMF will handle problems among regions. They will make policy to influence the international finance market taking into acount the region policy. Further more, the international investment within one region will grow dramatically for there is going to be no barrirs like exhange rate and qutoes. Development in IT will also help decrease the cost of informatin which is good news for both international investment and international trade. International trade will go up for the development of technology in transportation makes it faster.
