Essay on Impact Of Globalization On Global Market And Trade

Essay on Impact Of Globalization On Global Market And Trade

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“From your point of view, has globalization changed global politics or in a negative way?”
Globalization can be defined in different ways as follows;
• “The acceptance of a set of economic rules for the entire world designed to maximise profits and productivity by universalising markets and production, and to obtain the support of the state with a view to making the national economy more productive and competitive;
• Technological innovation and organisational change centred on flexibility and adaptability;
the expansion of a specific form of social organisation based on information as the main source of productivity and power;
• The dissemination of common cultural values, but also the re-emergence of nationalism, cultural conflict and social movements."
R. Urzua, 2000
Globalisation has positive impacts on human life and as most children are breed to crave knowledge which has reshaped human behaviour, global prosperity and achieving a more equitable earth.
How has globalisation influenced Global Market and Trade?
Individual states that are immensely separated by geographical factors hardening situations at hand so now states are much more dependent on each other as events outside their territory are likely to affect them compared to a century ago. International Organisations (IGOs) contribute massively in bringing states together. A couple of years back states invested more in domestic security than global security but as of now states have failed to protect their own people and handle their problems. Consequently states have joined to counteract global issues in IGOs. In joining IGOs states had to surrender their jurisdiction to a body governed by collective will and decisions made by other states. Member states have...


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...dhism, Christianity and Hinduism teach valuable lessons on equality and freedom and significantly the Golden Rule “what you do not wish done to yourself, do not do to others’. This has created boundaries of tolerance to politics, economics and society. Technological advancements have established grounds for religious debate as websites contain information and explanations on other religions to anyone regardless their location allowing the spread of ideas to spread. A main character that has helped with the spread of globalisation is science and secularization resulting in people ignoring age-old authority of tradition. Self-prosperity, freedom equality and emancipation have moulded the past centuries of human life. Cultural globalisation has homogenized cultures and has affected dress patters influenced by major icons like Michael Jackson, Madonna and Elvis Presley.

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