Background:
Humans have interacted over long distances for thousands of years. The overland Silk Road that connected Asia, Africa, and Europe is a good example of the transformative power of trans-local exchange that existed in the "Old World". Philosophy, religion, language, the arts, and other aspects of culture spread and mixed as nations exchanged products and ideas. In both the 15th and 16th centuries, Europeans made important discoveries in their exploration of the oceans, including the start of transatlantic travel to the "New World" of the Americas. Global movement of people, goods, and ideas expanded significantly in the following centuries. Early on in the 19th century, the development of new forms of transportation (such as the
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7.6.1: FEATURES OF GLOBALIZATION:
The main features of globalization are stated below.
1. Liberalisation: The freedom of the industrialist/businessman to establish industry, trade or commerce either in his country or abroad; free exchange of capital, goods, service and technologies between countries;
2. Free Trade: Free trade between countries; absence of excessive governmental control over trade;
3. Globalization of Economic Activities: Control of economic activities by domestic market and international market; coordination of national economy and world economy;
4. Connectivity: Localities being connected with the world by breaking national boundaries; forging of links between one society and another, and between one country and another through international transmission of knowledge, literature, technology, culture and
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In fact this measure was taken in order to resolve the BOP (Balance of Payment) crisis.
Disinvestment - In order to make the process of globalization smooth, privatization and liberalization policies are moving along as well. Under the privatization scheme, most of the public sector undertaking have been are being sold to private sector.
Dismantling of the industrial Licensing Regime:At present, only six industries are under compulsory licensing mainly; on accounts of environmental safety measures and strategic considerations. A significantly amended locational policy in tune with the liberalized licensing policy is in place. No industrial approval is required from the government for locations not falling within 25kms of the periphery of cities having a population of more than one
As new ideas traveled main trade routes, such as the Silk Road and the Mediterranean, the effects of such were felt through an influx of contact between countries due to increased desire for new information and countries gaining a larger presence on the world stage. This phenomenon can also be seen through the lens of cultural exchange that took place during this same time period in Eurasia. A major component of the Eurasian trade networks, such as the Silk Road and Indian Ocean, was that they fostered interregional contacts that had ceased to previously exist. When a country had a desire for study or technology, they earned more respect on the global stage. This can be further examined by looking at Marco Polo’s voyage into Asia.
The discernments provided in this book by a distinguished ‘insider’ is manna for economists, investment banks, governments of both developing and developed countries and just about anybody who wants to learn and understand economic development, the politics of international business and globalization, and public policy formulation with regards to globalization and liberalization. The author provides a holistic view of all aspects of globalization – the good, the bad, and the ugly. International organizations and business practitioners in particular will be wise to glean valuable insights from this book.
Globalization becomes important today because increasing in depending to the world. Globalization can be determined as increasing in trade and exchange in open economy, integrated and borderless international economy (Intriligator, 2003). Globalization is often used to refer to economic globalization. The integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. Besides that, globalization also can be defined as process of greater interdependence among countries and their citizens. It consists of increased integration of product and resource markets across nations via trade, immigration and foreign investment-that is via international flows of goods and services, of people and of investment such as equipment, factories, stocks and bonds. It also includes non-economic elements such as culture and the environment.
In today’s continuously changing world, many experts say that globalization is what every business, organization, and nation should seek and welcome as a positive change. However, many people are unaware of the main focus and meaning of Globalization, especially in comparison to Localization. A large number of people believe that globalization is just another common word used to refer to changes and differences that cannot be explained or accounted for. Therefore, many different activities or changes are improperly labeled to be a part of or caused by globalization.
Loss of group identity and individualism because globalization promotes a western ideal of individualism. This advocate a homogeneous set of values.
Globalization on a broader scale, is an integration act, involving cultural, mental, political as well as economic aspects of a person, among countries. It is mostly limited to, economic integration, associated with movement of people, exchange of technology and information, trade as well as financial flows. . This is practice is clearly miles ahead, as demonstrated by the ever increasing capital flows in the world economy as well as the level of importance, the world economy has. As a result of globalization, tremendous pressure is on the nations to keep up with its demands and this has had a lot of consequences. Some pundits will tell you that these effects are only economic based,
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.
If there is an increase in the rate of global warming it will have serval effects on us humans and animals in fact the whole environment will be effected by it for example rise in the sea level which will cause lots of marine animals to die due to their loss in their food source or increase in the greenhouse gas concentration which will Increase Earth's average temperature, Reduce ice and snow cover which will cause the polar animals to die because of the change in temperature, as well as permafrost, Increase the acidity of the oceans which will make the water ph unsuitable for the marine life.
Globalization is the connection of different parts of the world. Globalization results in the expansion of international, cultural, economic, and political activities. As people, ideas, knowledge, and goods move easily around the globe, the experiences of people around the world become more similar. (“Definition of Globalization“, n.d., ¶ 1)
Globalization is a global process that is changing the world. I would also like to discuss what are the benefits and drawbacks of globalization in the world from different perspectives.
Explain the concept of culture. Why is it important to avoid ethnocentricity and gain cultural literacy?
A question raised here that why we called the world as a Global Village or what does Globalization mean in real? If we look few years back, I was very difficult for people to get them connected or make contact with their dear ones who lived in far areas, people just knew about the famous food of any country but didn’t have availability to have it. People didn’t get full information of any news at the time, what’s going on other countries; they didn’t have any access to make them updated with all this stuff. But now a day, the scenario gets change with the help of new scientific inventions in media sector. Communication is one of the basic elements which play an important role in flourishing the process of globalization in all over the world. Technology is the basic extension of increasing communication at same time in different places. Technology eliminates the concepts of space and distance; it becomes easy for anyone to get connected with anyone at any corner of world through using internet, social websites and technological tools. New inventions in communication and media
In recent decades, the powerful processes and rapid growth which is occurring called "globalization". These processes affect the economy, society, culture, communities, environment and the people`s lifestyle around the world.Globalization produces standards in many areas which produce frequent changes in almost all areas of life. In the processes of globalization - states, communities, financial companies and individuals from all over the world make close physical or virtual connections, almost without consideration of the national barriers. This allows a quick transition of products, capital, people, information and ideas - from place to place; Economies, cultures and political movements consistent with each other and supply each other; and people around the world are developing similar tastes and cultural practices. The term "global village" use to describe this situation. This force companies and systems to adapt themselves to the environment which is developing and changing, and at the same they should generate changes and reforms. "External factors" and "local factors" require all systems in general to make changes, and in particular the educational system.
To complete a Strengths Weaknesses Opportunities Threats (also known as SWOT) analysis presented to a developing country by globalisation, we must first understand the actual concept of globalisation itself. So how can we define this term? Joseph Stiglitz, a winner of the Nobel Prize defines Globalization as “the closer integration of the countries and peoples of the world ...brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital, knowledge, and people across borders.” Hence, we can understand that globalisation can be described as an expanding global marketplace for the trading of anything from transport of goods internationally,
Globalisation is a very complex term with various definitions, in business terms, “globalization describes the increasingly global nature of markets, the tendency for transnational businesses to configure their business activities on a worldwide basis, and to co-ordinate and integrate their strategies and operations across national boundaries” (Stonehouse, Campbell, Hamill and Purdie, 2004, p. 5).