Introduction
During the last decade of the twentieth century, the word ‘globalization’ has become an increasingly prominent feature of political, social, and economic discussion in academic and policymaking circles, as well as in the media. The processes and outcomes of globalization drew attention and debates that had one thing in common. The research shows that nearly everyone agrees that globalization is a trend that is changing the face of the world, and as a result the world society lives in a more ‘globalized’ world. Nearly two and a half decades passed since 1990s, and studies have been conducted to examine the causes and consequences of globalization. Moreover, nearly every person experiences some type of globalization and can testify firsthand the effects it has on their life, society, and the state. The analysis of the effects that globalization dynamics have on the world society indicates that globalization has a significant positive impact via spreading opportunities and wealth across nations, stimulating innovation and productivity, enhancing the economic development of poorer countries, and helping to improve living standards.
Theories of Globalization
There are various theoretical frameworks that create the foundation for understanding of any social or economic phenomenon. Since globalization occurs on several levels there are different theories that explain various aspects of it. The analysis of various factors that facilitate the creation of interconnected and interdependent global society shows that globalization advances in several directions simultaneously: historical, political, economic, social, and cultural (Friedman, 2005). Therefore, the fact that globalization can be explained from different perspec...
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Globalization is the shift toward a more integrated and interdependent world economy (Hill, 2005). Globalization has several different areas including the
The term "globalization" is commonly used to describe the increased mobility of goods, services, labor, and technology throughout the world. Globalization is a social change; it is really an increase in connections among societies and their elements. Globalization has become identified with a number of trends, most of which developed in the period after World War II. The developments of technology, organizations, legal systems, and infrastructures helped enable this movement to occur, thus leading cultures toward the idea of modernity. The ongoing "globalization debate" confronts the world of social sciences with a series of theoretical and empirical challenges.
Globalization can be used to describe a number of events or changes that occur around the world. Different economists have tried to define globalization in different ways but no definition is precisely accepted. Mittelman (2000) refers to globalization as a variety of activities and processes and not a unified and single phenomenon. This activities and processes refer to the way barriers are reduced between different nations. With this, the globe can be referred to as a global village whereby the space and distance disappear, and whereby there exists a common pool of resources and single community. The globalization process encourages social, economic and political interaction. This therefore activates the multiple analysis levels in the field of economic, culture and society, and politics. These fields play a vital role in placing a new meaning to globalization. The World ...
Globalization means different things to different people, so there is no one set definition. It is generally considered to be the spread of cultural, religious, political and economical systems, and symbolizes an increase of global communication, flow of ideas, and transfer of knowledge. Is also the spread of capitalism and Westernization. Globalization creates new opportunities and benefits, yet it can also bring suffering. Each region of the world—within continents, countries, and towns—experiences globalization in a different way. While one country may experience prosperity another may experience marginalization and impoverishment. This is because access of power is selectively given to certain groups. Globalization tends to produce success for the powerful at the expense of the
The outreach of globalization has reached unprecedented proportions. The 21st century has been marked by epochal changes in the global community that have revolutionized interactions among nations. Now more than ever, the relations among nation-states from across the globe are dually growing in complexity and becoming increasingly intertwined. Globalization, due to its expansive nature in scope, though, poses an insurmountably difficult challenge to produce a specific, yet holistic definition that encompasses the total breadth of this process. In response, scholars from the various fields define globalization subjectively- best equating the term with the matter at hand. Aspects of globalization such as the time it originated
Globalization, the acceleration and strengthening of worldwide interactions among people, companies and governments, has taken a huge toll on the world, both culturally and economically. It’s generating a fast-paced, increasingly tied world and also praising individualism. It has been a massive subject of matter amongst scientists, politicians, government bureaucrats and the normal, average human population. Globalization promoted the independence of nations and people, relying on organizations such as the World Bank and also regional organizations such as the BRICs that encourage “a world free of poverty” (World Bank). Despite the fact that critics can argue that globalization is an overall positive trend, globalization has had a rather negative cultural and economic effect such as the gigantic wealth gaps and the widespread of American culture, “Americanization”; globalization had good intentions but bad results.
The term ‘globalization’ was referred by Hussein Mutalib in his studies as “the process of further integrating the global community into an inter-dependent, border-less world through means such as capital, exchange, production and information flows” (Mutalib, 2002). In essence, globalization includes: (a) economic globalization; (b) political globalization, (c) socio-cultural globalization and (d) world opinion on various issues and agendas that call for universal action (Mutalib, 2002).
Globalization is a social process independent of man’s will. It is also a dynamic development process with inner contradictions and a dual nature. Although it provides a rare historic opportunity for many countries to develop, it also creates differences, competition and conflicts of interest. Globalization’s contradictions and dual nature also exert a complicated influence on contemporary international relations.
When the term “Globalization” is discussed, most academics, scholars, professionals and intellectuals attempt to define and interpret it in a summarized fashion. My main concern with this approach is that one cannot and should not define a process that altered decades of history and continues to, in less than 30 words. Global Shift is a book with remarkable insight. Peter Dicken rather than attempting to define the commonly misused word, explains Globalization in a clear and logical fashion, which interconnects numerous views. Dicken takes full advantage of his position to write and identify the imperative changes of political, economic, social, and technological dimensions of globalization.
The definition of globalization is various from diverse disciplines. In fact, it is not only representing the exchange of economy, but also encompassing integration and promotion of other dimensions, such as policy and technology. This implies that it is still a controversy to unify the concept of globalization. Furthermore, whether globalization is benefiting widespread for the world or not is remaining under debate. In order to research the impact of globalization, analysis and evaluation will be completed from diverse perspectives and countries. Based on the background of global situation, following parts attempt to introduce positive and negative effects adhered to globalization. Some researchers stated that globalization
Globalization refers to a process that involves integration and interaction among individuals, companies as well as government of various countries. It is bolstered by international trade, investments as well as modern technology. Globalization, through internet, has revolutionized business in various ways. Companies in foreign nations can compete for clients in other regions of the world due to globalization. Notably, the importance of globalization has mainly been cherished in the business world forgetting about its impacts on social lives of individuals. In the past, there have been debates regarding the role of globalization various cultural practices across the world. Globalization has been termed in many occasions as the
Globalization is a term that is difficult to define, as it covers many broad topics in the global arena. However, it can typically be attributed to the advancement of economic, social, and cultural interactions among the companies, citizens, organizations, and governments of nations; globalization also focuses on the interactions and integration of countries (The Levin Institute 2012). Many in the Western world promote globalization as a positive concept that allows growth and participation in a global community. Conversely, the negative aspects rarely receive the same level of attention. Globalization appears to be advantageous for the privileged few, but the benefits are unevenly distributed. For example, the three richest people in the world possess assets that exceed the Gross National Product of all of the least developed countries and their 600 million citizens combined (Shawki and D’Amato 2000). Although globalization can provide positive results to some, it can also be a high price to pay for others. Furthermore, for all of those who profit or advance from the actions related to globalization, there are countless others who endure severe adverse effects.
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
Globalization, a great number of people regard it as a chiefly economic phenomenon, necessitating the additional integration, or interaction, of nationally based economic entities through the development of international trade, investment and monetary flows. Also included in this view is the rapid advances in sharing social and cultural values as well as new technologies as the world grows together. Globalization can be defined as a procedure in which geographic distance is a diminishing factor in the formation and sustentation of international economic, political and cultural relations. Proponents of this process believe that free trade and integration of world markets will facilitate growth in economies both old and new. Proponents also believe that globalization will stimulate the spread of democracy and in turn improve the condition of human rights so intrinsic to the values of democracy. Critics of globalization see globalization quite differently, portraying it as worldwide push toward a globalized economic system under the control of global corporate trade and banking institutions that are not responsible to the democratic system or governments. Many questions surround globalization. What are the costs and benefits of free trade? Does globalization exacerbate global inequality? What impact does globalization have on the environment? Are industries in developed nations being weakened by industries in developing or third world countries that have a lower standard and therefore cost of labor?
Globalization is one of the main aspects in the 21st century. Globalization has brought the world closer; all the things that are happening nowadays are recognized globally even if they happened locally (Buckley). According to Nayef Al-Rodhan GCSP (Geneva Centre for Security Policy) globalization is not a single word or concept. It contains many other concepts within itself. Globalization is composed of different concepts like incorporation regarding the economics, transmitting information or understandings, stability within beliefs, and other concepts (Al-Rodhan p.3). This paper deals with the definition of Globalization, the advantages and disadvantages of globalization, and based on these information the views that to which extend the globalization is beneficial for majority of the world's population. The concept of globalization has changed the whole shape of the world. It has both its positive and negative impacts on people's life. However, by taking both the advantages and disadvantages into consideration we can find that to a large extend globalization is beneficial for majority of the world's population. With the help of globalization the works that were difficult in past is getting easier in today's environment. People are getting closer to each other, which is a product of globalization. Moreover, the knowledge and informations are being circulated in very good way which is a very good sign for having a good and prosperous life.