Terrorism and Globalization

Before 9/11 terror attacks against The United States of America the dominant global issues were geoeconomic in nature. But now geopolitics and security have become core issues in the world politics.
Globalization has many definitions but in simple words it is all about the planet getting smaller and the free flow of goods, ideas and people. Technology played an important role in achieving globalization and it changed the world in real means. Liberalization of crossborder transactions facilitated the process of globalization. This crossborder mobility of labour, goods, ideas, capital and technology headed the world towards the greater level of prosperity. The major forces behind globalization were US economy and government.
Globalization also created a sense of insecurity among some cultures leading to the clash of cultures. The creation of soft borders for the success of globalization also facilitated the mobility of terrorist, their resources and their ideas across the borders. Now all countries are developing strict rules and regulations to keep security inside and terrorists outside their countries. It is denting the process of globalization from further development.
The efforts to prevent terrorists from moving their resources from one part of the world to another are costing big bucks. Banks are adopting new measures that will slow down the flow of capital. Air fares are at rise due to new security measures at the airports and in the airline services and are affecting the profitability of airline industry. Anti-terrorist budgets are on rise for almost all countries diverting money from development programs to fight against terrorism.
It seems that globalization has facilitated the terrorism to become a global terror. If it is true, will rising global terrorism reverse or slow down the globalization process?

Development Projects Vs War on Terror

Countries are expanding budgets to fight terror. Money that can be used for development is going in war. Pentagon is going to expand its operations against terrorism and planning to increase aid to countries like Yemen to fight against terrorism. Major chunk of budget is going to fight against terrorism. Pentagon proposed $708 billion budget for the 2011 fiscal year. Insurgencies in Afghanistan and Iraq and growing power of terrorist groups in Yemen and Somalia are very lethal threats. Pentagon is preparing for a much broader range of security challenges.
Stockholm International Peace Research Institute (SIPRI)’s reports indicate increase in world military expenses in 2008 to $1.464 trillion from 1.2 trillion in 2005; it is 45 per cent over the 10-year period since 1999. This amount corresponds 2.4 per cent of world gross domestic product (GDP). The USA military expenditures accounted for 41.5 per cent of the world total in 2008.
Figures indicate that expenses are increasing in this war on terror. All the suffering countries are spending a lot of money to fight against terrorism. The money that can be used to improve education, health and infrastructure facilities etc is going in this war. This war is taking lot of attention of the world politics. Much attention is being diverted to this fight instead of development projects for mankind.