The Impact of Globalization on Germany

Globalization is currently shaping the world in which we live. It is based on the precept that the world is becoming a smaller place to live. This "shrinkage", so to speak, does not refer to actual land area, but rather to the space that exists between the differing peoples of the world. Globalization occurs through the unification of different nations around the world by either blending socially, culturally, politically, or economically. Social , Cultural, and Political Globalization occur when people from different nations, cultures, or walks of life come into contact with one another, and in the process, close the gap that exists between different groups of people or differing ideologies. These types of Globalization have been able to occur due to certain advancements in communication technologies that have made it possible for people all over the world to be able to communicate more easily and on a frequent basis ( Allen and Hamnet pg 59).

Economic Globalization, however, refers to the integration of economies around

the world. This occurs in a variety of different ways. International trade, financial

exchanges between countries, and the movement of people (labor) or knowledge

(technology) across borders all play intricate parts in the process of Economic

Globalization. ( Globalization: threat or opportunity) . The basic precept behind

Economic Globalization is to erode the existence of national barriers, and basically form

one large global economy. A perfect example of where this has occurred would have to

be in Europe, in regards to the European Union. In this arrangement, fifteen European

nations have bonded together to basically become one. Efforts towards creating a single European monetary unit have been in pl...

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...ly, will not have to change their practices as a result of

becoming a larger part of this ?shrinking world?.

Work Cited

Allen and Hamnett. A Shrinking World. Oxford University Press, New York. 1995.

Friedman, Thomas L. The Lexus and the Olive Tree. Farrar, Strauss and Giroux, New York. 1999.

?Globalization: threat or opportunity??.

Http://www.imf.org/externalimp/exr/ib/2000/041200.htm)

?Globalization and its challenges for Germany, Europe and the IMF?

Http:// www.imf.org/external/np/speeches/1997/mds9701.htm

Longworth, Richard. Global Squeeze. Contemporary Books, Illinois. 1998.

Massey, Dorreen and Jess, Pat. A Place in this World. University Press, New York. 1995.

Ohmae, Kenichi. The End of the Nation State. Mckinley Inc & Company, New York. 1995.

World Fact book 2000- Germany

Http://www.odci.gov/cia/publications/factbook/geos/gm.html