Free Essay

Globalization

In: Other Topics

Submitted By Imhotep
Words 1535
Pages 7
GLOBALIZATION
COURSE
DATE

Globalization is a concept which is argued by scholars to be very complex and hence cannot be simply restricted to a number of international occurrences (András, Gábor and Orsolya, 2007). It is important to avoid looking at globalization as simply an economy process as it is so common in the current days. Other than the commonly known economic and commercial dimension, globalization expands over the broader cultural and social dealings, having both minor and major impact on them. András, Gábor and Orsolya (2007) define globalization as the amalgamation of different levels of the international political, social and economic processes. In this sense, globalization is never a single process but rather a combination of several processes that are partly connected. The aspect of globalization is characterized by the progressive loss of the traditional role attached to territories. It involves geographical reconfiguration so that all the aspects of life that are social are never mapped wholly in terms of places of territory, territorial borders and distances. Goggin (2012) on the other hand has defined globalization as the actions that involve intensifying the global social relations which link distances that are far much apart such that, the happenings taking place a number of miles away can shape the occurrence in another place and vice versa. Economically, globalization always involves integrating the market into the global economy. Markets which are regularly integrated include commodity market, financial market, and product markets (András, Gábor and Orsolya, 2007).
In a broad sense, globalization in our everyday life is the process or processes that intensify the movement of people’s ideologies, technology, culture and information across the global (Kiersey, 2011). From the music we hear over the radio to a number of popular narratives and flicks out there, technology, fashion, and movement from one country to another are all aspects of globalization experienced in everyday life (Kiersey, 2011). One of the greatest forces of the beginning of the 21st century was purely attributed to globalization after the occurrence of the Second World War II. After the events which took place after the war, countries did realize that there was need for them to be always talking, involving all the important nations (Kiersey, 2011). As a result, the birth of the United Nation was experienced to keep the countries found in the world from killing one another. Other than UN, a number of organizations have also been born in the current lives: World Bank, International Monetary Fund, World Health Organization and World Trade Organization. All these were formed to act as check and balances for the whole international communities.
It is right to argue that globalization influences majority of the aspect of daily lives. For instance, the computer and phones people uses together with tablets are most likely to have been built some other than the United States of America and then shipped to other countries (Goggin, 2012). China is well known for outsourcing and transferring employment opportunities to other regions for cheaper cost of manufacturing, cheaper labor and some other related cost-cutting benefits. As the turning of the world continues to be experienced, either subsiding out from the integrated state or becoming strongly integrated, ideologies, technology, objects, culture , people and information all over the world all happen to mash up or unit together (Goggin, 2012).
With respect to the positive and negative aspects, there is mixed reaction about globalization. Within the wide opinion of the general public, the reputation of globalization is relatively worse, mostly negative. For instance, based on the Harris Poll of Financial times in 2007, within the six known economic powers in the west (Spain, France, Germany, Italy, UK and USA), very few of them find globalization as a kind of process with positive impacts. A good proportion of the countries in this case see danger in economy, uniformity of culture, alienation of the social aspects of life and fading social solidarity that is experienced as a result of globalization. The extreme left and rights alike take to obstructions over globalization (Goggin, 2012). The current and the older generations find it too much threatening. Even in terms of politics, it is very common to view globalization as a concern rather than being optimistic over it. Scholarly experts consent that globalization undermines the chances of workers who have less skills in developed nations due to the fact that the kind of low-paid similar jobs they perform are paid less in the nations that are developing (Byram and Parmenter, 2012). On the other side of the argument, as a result of globalization, millions of people have moved from high level of poverty and grew towards middle class and better standards of living in the countries still developing (Byram and Parmenter, 2012). The other positive aspect associated to globalization is improved knowledge through information sharing via the internet. Three quarters of people who uses internet plays games while more than half of the users apply the web for communicating online. People even transact their businesses online. The figure below illustrates distribution of a number of activities done online among the internet users; thanks to globalization.
Figure 1: Distribution of a number of activities done online among the internet users
Source: (András, Gábor and Orsolya, 2007)
The other benefit associated to globalization is with regards to the number of students who find themselves undertaking their higher education abroad. In most cases, such students are usually motivated by the fact that they would gain from knowledge exchange, learning about another nation or region, the people there and their culture and lastly the possibility of gaining the kind of experience that one would not have gained in their home country. Within the last two decades, the number of foreign students undertaking their studies abroad has grown by more than twice (András, Gábor and Orsolya, 2007). The figure below illustrates the number of foreign students who undertake their study in a given country for the last two decades.
Figure 2: Number of foreign students who undertake their study in a given country for the last two decades.

Source: (András, Gábor and Orsolya, 2007)
One of the most beneficial effects of globalization on the economies of western countries is reduction of inflation. Globalization has seen monopolies in these countries face global market competition (András, Gábor and Orsolya, 2007) Local firms compete for market with other international firms which do not only offer high quality products but also products at affordable cost. This has helped reduce the cost and prices of both local and international firms. With reduction of price of both local and imported goods, the rate of inflation in the countries have been generally kept down for a longer period of time affecter indicating lower nominal interest rates (András, Gábor and Orsolya, 2007) Indeed globalization has helped in mending the trade-off between inflation and unemployment. Opponents of globalization focus their arguments on the impact of the process on jobs and inequality. They claim that globalization is a force that has been driving up scale of poverty in the country. Individual countries now face a competitive challenge in the world economy. For instance, Globalization has intensified UK’s problems in the manufacturing businesses (Byram and Parmenter, 2012). Rising import penetration in many traditional industrial heartlands and switch to lower-cost production centers in Eastern Europe and South-East Asia away from manufacturing has resulted to loss of many thousands of jobs in UK and fall of output. Such rising levels of unemployment have created occupational immobility of labor in the country hence risk worsening the regional economic divide. Further argument illustrate that globalization has heightened a great gap between the lower class and the upper class earners. The real pay of people at the bottom of the economic ladder has increased barely for the last ten years while the income and accumulated wealth of the rich has seen significance within the same period of time (Byram and Parmenter, 2012). Globalization has even eroded the power of trade unions to protect jobs and pay. It has caused big structural changes in employments in the world regions and industries.
In conclusion, globalization is a very complex economic, social and political dimension. As has been described above, it involves amalgamation of different levels of the international political, social and economic processes. Economically, globalization involves investing businesses and funds beyond the domestic and national markets to other markets across the world. It therefore increases the interconnection of different markets and people across the world. Globalization has numerous positive and negative aspects in terms of inflation, specialization of goods in which the country has comparative advantage hence more income to the country, growth of economy. It also has a number of positive and positive impacts on health, education, culture and ideologies.

References
András, B., Gábor, G., Orsolya, I 2007, Everyday Globalisation. DEMOS Hungary 2007.
Byram, M. and Parmenter, L. eds 2012, The Common European Framework of Reference: The globalisation of language education policy (Vol. 23). Multilingual matters.
Goggin, G 2012, Cell phone culture: Mobile technology in everyday life. Routledge.
Kiersey, N.J 2011. Everyday neoliberalism and the subjectivity of crisis: post-political control in an era of financial turmoil. Journal of Critical Globalisation Studies, 4, pp.23-44.

Similar Documents

Premium Essay

Globalization

...Globalization is necessary in the world. Different theories on the concept of globalization provide distinct reasons on the need for globalization. The world’s advancements and technology help drive the need for globalization. Communities and organizations alike are affected by globalization, and smaller countries benefit from the generosity of larger participants in the world’s market. Globalization, in the business sense, is to make a product or service available in the global market. Any investment that is across national borders is also part of globalization.... [tags: Business International Globalization] 1326 words (3.8 pages) $6.95 [preview] The Implications of Hyperglobalist Globalization on World Regions - Even though the globalization skeptics and the transformationalists both have viable interpretations of globalization, I believe that the hyperglobalist perspective is the most accurate. The evidence for hyperglobalization is found all over the world, but for the purposes of this paper, I will focus on the expansion of NAFTA, the 2004 Indian Elections, and the increasing global outsourcing of labor. I will then outline the implications of hyperglobalist globalization on world regions and the regional approach.... [tags: Globalization ] :: 4 Works Cited 1208 words (3.5 pages) $19.95 [preview] Globalization and Interconnectivity - Fast Globalization and interconnectivity create the major driving force in creating and enhancing chance. Therefore, the......

Words: 537 - Pages: 3

Premium Essay

Globalization

...GLOBALIZATION Globalization is a series of social, economical, technological, cultural, and political changes that promote interdependence and growth. Globalization raises the standard of living in developing countries, spreads technological knowledge, and increases political liberation. (Harris 5-23) The main cause of globalization is influence from other, more developed, countries. Globalization is a historical process that results from human innovation and technological progress. The social effects of globalization are clearly illustrated in Peru. Once a third-world country filled with poverty and oppression, Peru is now transitioning into a developed nation. In Peru, globalization has raised the human development index, empowered women, and created a stronger country. (Leon 90-91)  One of the benefits of globalization on a social level is an increased Human Development Index. The Human Development Index is a measurement of a country's social, political, and economical growth in comparison to other countries in the world. The Human Development Index rates each country with a score between 0 and 1, with 1 being the most advanced, globalized country. Factors that are involved in determining a country's HDI are gross domestic production per capita, life expectancy at birth, adult literary, and the number of persons enrolled in educational institutions. In 1975, Peru's Human Development Index was a 0.643. By 2003, the Human Development Index had risen more than one tenth to......

Words: 1174 - Pages: 5

Premium Essay

Globalization

...manufacturing and local food markets, or has Globalization ultimately made this impossible? Globalization is all about integration, combination and incorporation of economies around the world but, it is also the exchange of ideas, culture, and technology. The effects of this phenomenon have reached every country in the globe, the greatest economies as well as the poorest. This affects especially those local manufacturing companies and food markets in the United States. As every new movement of this magnitude, it has been positive for some economies, negative for others and a combination of both elements for some. After been around for a while, globalization became really important as an economic philosophy in 1947 with the General Agreement on Tariffs and Trade (GATT), later known as World Trade Organization (WTO). In the last ten years since the Second World War, many governments have adopted free market economic systems. Globalization is a current wave that has been driven by policies that have opened economies domestically and internationally. Governments also have negotiated dramatic reductions in barriers to commerce and have established international agreements to promote trade in goods, services, and investment. Taking advantage of new opportunities in foreign markets, corporations have built foreign factories and established production and marketing arrangements with foreign partners. The principal driver of Globalization has been technology, all this advances in......

Words: 1263 - Pages: 6

Premium Essay

Globalization

...Globalization Nowadays people have become closer than before. Services and goods produced in a country will be available to sell in the other countries. We hear about globalization in the news every day, read about it in the news papers and hear people talking about it. Globalization is the interactively international and nearness of economies. The world is not a large and strange place anymore. We live in a place that is interconnected and intertwined. The world has become from a place that each country and their peoples are separate and isolated to a place that each country and their peoples are part of a global network. Thanks to globalization this is occurring. It is the process that has led to the diverse parts of the globe becoming much closer to each other (Slaughter and Swagel, 1997). Globalisation is the procedures by which the people around the world become connected to each other in all aspects of life, culturally, technically and politically, economically and environmentally. Globalization assists improving technology that benefits many people in throughout the world. By increased the spread of cultures, trade, information and creating options, Globalization can be highly beneficial to everyone by bestowing great fortunes on us. This essay will highlight some of positive and negative effects of globalization. Globalization is the ‘international integration” or ‘de-bordering’ – “a number of highly disparate observations whose regular common......

Words: 1889 - Pages: 8

Premium Essay

Globalization

...Introduction Globalization is an idea whose time has come. From obscure origins in French and American writings in the 1960s, the concept of globalization finds expression today in all the world’s major languages (cf. Modelski, 1972). Yet, it lacks precise definition. Indeed, globalization is in danger of becoming, if it has not already become, the cliché of our times: the big idea which encompasses everything from global financial markets to the Internet but which delivers little substantive insight into the contemporary human condition. Clichés, nevertheless, often capture elements of the lived experience of an epoch. In this respect, globalization reflects a widespread perception that the world is rapidly being moulded into a shared social space by economic and technological forces and that developments in one region of the world can have profound consequences for the life chances of individuals or communities on the other side of the globe. For many, globalization is also associated with a sense of political fatalism and chronic insecurity in that the sheer scale of contemporary social and economic change appears to outstrip the capacity of national governments or citizens to control, contest or resist that change. The limits to national politics, in other words, are forcefully suggested by globalization. Although the popular rhetoric of globalization may capture aspects of the contemporary zeitgeist, there is a burgeoning academic debate as to whether globalization, as an......

Words: 4956 - Pages: 20

Premium Essay

Globalization

...DEFINITION;- Globalization is defined as increasing process of interdependence and interconnected between different political, social and economic components of the World. It is the way in which World is seen as global village. HISTORY OF GLOBALIZATION;- During the 19th century, globalization approached its modern form as a direct result of the industrial revolution. Industrialization allowed standardized production of household items using economies of scale while rapid population growth created sustained demand for commodities. In the 19th century, steamships reduced the cost of international transport significantly and railroads made inland transport cheaper. The transport revolution occurred sometime between 1820 and 1850. More nations embraced international trade. TYPES & ASPECTS OG GLOBALIZATION;- These are some types and aspects of globalization. ECONOMIC GLOBALIZATION;- Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology and capital. Whereas the globalization of business is centered round the diminution of international trade regulations as well as tariffs, taxes, and other impediments that suppresses global trade, economic globalization is the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market. Depending on the paradigm, economic......

Words: 651 - Pages: 3

Premium Essay

Globalization

...Running Head: Globalization Student’s Name: Course Code: Instructor’s Name: Date: Globalization: Outline I. Introduction A. An overview of globalization II. Discussion A. Discussion on the positive and negative effects of globalization III. Conclusion A. This part of the report will cover a summary of the findings Introduction Globalization is an increasing unity of various world economies brought about by the breaking or elimination of barriers to international trade. The barriers include tariffs, export fees and import quotas. Its aim is to raise goods, services and material wealth from a global division of labor (Robertson, 1992). Globalization is a process, driven by a combination of factors including financial, technical, sociocultural, political, and biological. The term may also refer to transitional circulation of ideas, languages, or popular culture (Waters, 2001). The history of globalization is debatable. Some people perceive it to be from the ancient times dating back to occasions like Ottoman Empire spice trade routes in 1453 spurring exploration of different lands. Others situate the origins to the modern era, citing examples like the ending of the First and Second World War in the mid-20th century which was necessitated by the need to break down borders and foster peace (Osterhammel & Petersson, 2005). Expansion of multinational companies and exchanging of scientific developments and information has......

Words: 768 - Pages: 4

Premium Essay

Globalization

...MGMT 422 – Management Concepts Term Paper Dr. Rogers Group: Globalization By: Troy Tolson Jr Romel Reaves Hector Gray Demonte Alston Globalization Globalization is the process of increased interconnectedness among countries most notably in the areas of economics, politics, and culture. Put in simpler words, globalization is growth on a global scale. A more common example of globalization is the fast food industry; sweeping across our nation especially, fast food, which has quickly become one of the richest corporations in the world. From first-hand experience, one can prove that through the years eating out, or eating on the go, has become far more common amongst American citizens as well as those in neighboring countries. The strength of need, or global demand for a product or service plays a major role in its global distribution. There is no exact date when globalization was said to have started but most studies claim it started around the 19th century. Although there is no set date, the history of globalization can be broken down into three waves or periods. The first wave began in 1870 and ended at the beginning of World War 1 in 1914. It was characterized by a decrease in trade barriers and an advancement in transportation technologies. This resulted in a major migration of about 10% of the world’s population. The second wave occurred from 1950 to 1980 during which multiple trade agreements occurred between developed nations,...

Words: 1690 - Pages: 7

Premium Essay

Globalization

...Globalization and Bangladesh According to Oxford Dictionary “Globalization is the fact that different cultures and economic systems around the world are becoming connected and similar to each other because, of the influence of large multinational companies and of improved communication”. According to Wikipedia (an web encyclopedia) Globalization refers to increasing global connectivity, integration and interdependence in the economic, social, technological, cultural, political, and ecological spheres.    Shahzaman Mozumdar (IT Professional and Freedom Figher) says, "Globalization evokes different feelings to different people. Some look at globalization as "the panacea,"-the elixir that will eradicate all poverty, remove disparity, and enable the global citizens to enjoy a decent lifestyle-the lure of globalization. Others view globalization as "the evil" that will further enslave them to the rich” In the broadest sense, Globalization implies integration of economies and societies across the globe through flows of technology, trade and capital. Integration of production, accelerated cross-border investments and more trade are the logical outcomes of this process. It is a phenomenon of 21st century.    When I think of globalization in the context of Bangladesh, I think of a person like Hosne Ara Begum, a 40-year-old garments worker at Dekko Apparels Ltd. Hosne Ara, living with her unemployed husband and two children, was driven out of her village in Comilla......

Words: 935 - Pages: 4

Premium Essay

Globalization

...and have become an essential part of our life. Many goods, which were once limited to some countries, are now available across the world. Work can be outsourced to any part of the world that has access to the Internet. Because of improvements in traffic infrastructure now it is easy to reach one’s destination in a relatively short period of time. This great phenomenon can be called as globalization. Globalization has been defined in many different ways, but central to most of them is that globalization is the interaction between different countries in order to improve the global economy and society. Furthermore, “process by which regional economies, societies, and cultures have become integrated through a global network of political ideas through communication, transportation, and trade is classified as globalization”. There are three main factors that contribute to globalization are the efficiency of international transportation, making international trade and enterprise profitable and growth of the informational technologies. Cause 1 One of the factors that lead to the process of globalization is the efficiency of international transportation as a fundamental element of supporting the global economy and market as whole. International transportation it is a factor that causes international trade to spread faster, because international trade needs infrastructures which can support trade between some firms. For instance fast growing economic development in China has......

Words: 1675 - Pages: 7

Premium Essay

Globalization

...When discussing a complex issue such as globalization, it is important to set forth having a solid foundation. Having a clear and concise understanding of the denotative meaning of globalization is important in order to eliminate any confusion. The Miriam Webster definition of globalization is, “the act or process of globalizing : the state of being globalized; especially : the development of an increasingly global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.” (MerriamWebster) This definition highlights both the causes and perceived effects of globalization. Globalization occurs when countries open up cross border trading which allows the free flow of capital. This definition also highlights one of the many controversial issues many may have with globalization: the reallocation of human capital to emerging economies. This negative connotation of the definition perpetuates the fear anti-globalizers associate with the progression of globalization. Though the progression of globalization does not come without objectors and protestors, it is hard to refute that since countries have progressed towards a more globalized society the overall quality of life for a country’s inhabitants has improved. Mandelbaum states, “More countries joined the global economy, and the volume of cross-border capital flows expanded rapidly, increasing by an average of 11 percent per year between the beginning of the 1990s and the......

Words: 1533 - Pages: 7

Premium Essay

Globalization

...Globalization Western Governors University Globalization refers to the development of an integrated world economy, exchange of cultural views, thoughts, and products (Wikipedia, 2013). Pologeorgis (2012) states that, essentially globalization began with the exploration and settlement of new lands. Communication and transportation advances have aided in this process. Two non-Western countries that have been impacted by globalization are India and China. India opened its doors to globalization during the nineteen nineties following an economic crisis in which the country almost defaulted on loans (Balakrishnan, n.d.). Before globalization India purposely isolated itself from world markets and was in a state of economic stagnation (Nayar, 2007). This stagnation left the country in profound poverty with no industrial growth. The people of India faced other challenges as well such as illiteracy, government corruption, and malnutrition (Wikipedia, 2013). In the years since globalization industrial growth has occurred at a rate of about 6.5 percent that has thwarted any reoccurrence of economic decline and a poverty rate at 26 percent that had previously been 55 percent (Nayar, 2007). China too, has benefited from globalization. In 1978, Deng Xiaoping established leadership of China. Unlike Mao Zedong, Xiaoping embraced globalization and demanded economic change that he believed would ensure the safety of communist rule (Yahuda, 2003). Like India...

Words: 805 - Pages: 4

Premium Essay

Globalization

...GLOBALİZATİON People around the globe are more connected to each other then ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent and international communication is commonplace. Globalization is an economic tidal wave that is sweeping over the world. It can’t be stopped, and there will be winners and losers. There are some disadvantages and advantages of globalization. The disadvantages of globalization 1. “The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. 2. Multinational corporations are accused of social injustice, unfair working conditions as well as a lack of concern for the environment, mismanagement of natural resources, and ecological damage.  3.  Multinational corporations which were previously restricted to commercial activities are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world because they are gaining power due to globalization. 4. Globalization makes it easier for rich companies to act with less accountability. They also claim that countries’ individual cultures are becoming overpowered by Americanization. 5. Some experts think that globalization is also leading to the incursion of communicable diseases. Deadly diseases like HIV/AIDS are being spread by travelers to the remotest......

Words: 590 - Pages: 3

Free Essay

Globalization

...Introduction This current wave of globalization has been determined by approaches that have opened economies locally and in the whole world. Since the Second World War, and particularly amid the previous two decades, numerous governments have received free-advertise financial frameworks. This has made them to immensely expand their profit potential and making new open doors for international trade and venture. Governments likewise have arranged emotional decreases in boundaries to business and have made international assertions to advance trade in products, administrations, and venture. Exploiting new open doors in outside markets have fabricated remote manufacturing plants and made a generation and advertising game plans with outside accomplices. A characterizing device of globalization, subsequently, is an international technological and monetary business structure. Technology has been the other driver of globalization. Propels in data technology, specifically, have drastically changed financial life. Data innovations have given various types of individual monetary performer's buyers, financial specialists, organizations profitable new instruments for distinguishing and seeking after monetary open doors. Globalization is profoundly disputable, in any case. Defenders of globalization contend that it permits poor countries and their natives to create monetarily and raise their expectations for everyday life. Rivals of globalization claim that the production......

Words: 2899 - Pages: 12

Free Essay

Globalization

...Globalization "Globalization" is a term that came into mainstream use in the 1980's to portray the expanded development of individuals, information and thoughts, and merchandise and cash crosswise over national outskirts that has prompted expanded interconnectedness among the world's populaces, monetarily, politically, socially and socially. Globalization as a concept refers both to the compression of the world and intensification of consciousness of the world as a whole both concrete global interdependence and consciousness of the global whole in the twentieth century (Robertson, 1992: 8). Despite the fact that globalization is regularly considered in monetary terms (i.e., "the worldwide commercial center"), this methodology has numerous social and political ramifications too. A lot of people in nearby groups partner globalization with modernization (i.e., the change of "conventional" social orders into "Western" industrialized ones). At the worldwide level, globalization is considered regarding the difficulties it postures to the part of governments in universal issues and the worldwide economy. There are warmed verbal confrontations about globalization and its sure and negative impacts.  "Friedman realized early that to write intelligently about world economics he needed to make himself an expert in six tightly integrated domains that are usually reported separately: financial markets, politics, culture, national security, technology, and the environment" (Brand, 2002,......

Words: 1742 - Pages: 7