Globalisation refers to the process of the integration of economic, political, social and cultural relations among people, companies and governments of different nations and countries. It is a process aimed improving international movement of goods, services, labour and capital. This process also has a direct impact on the environment, culture, political systems, economic development and prosperity, and a human physical wellbeing of societies in the world. Globalisation also indirectly suggests internationalism and mutual agreement and support between countries, as opposed to nationalism and protectionism, which have negative defining characteristics. Globalisation goes back as far as the era before the First World War. During that time globalisation’s general tendencies produced a very uneven pattern of global economic development, exposing the limits of global economic integration. For example, the integration of the African economy into the capitalist economy is part of the globalising tendencies of capitalism. Over the past 30 years the globalisation of the economy led by the World Bank, the International Monetary Fund and transnational entities have happened at a very quick pace. These institutions have pressured governments of developing countries such as South Africa to remove barriers to the cross-border flow of capital and products. Even though globalisation is a positive or... ... middle of paper ... ...0 pp. $115 (cloth), ISBN 0-415-22425-X. http://hbswk.hbs.edu, Globalization: Little Impact on the Continent, Published March 24, 2003, Author: Julie Jette Joseph E Stiglitz, Globalization and its Discontents, April 2003 / paperback / ISBN 0-393-32439-7/6 X8 www.youtube.com, You tube, Root cause of Xenophobic Attacks in South Africa, Added June 01, 2008 www.oppapers.com/essays/Globalization/102153 http://www.afrol.com/News2001/sa019_globalisation_lab.htm, afrol News, 10 April, South African Unions face Globalization, http://www.guardian.co.uk/world/2002/oct/31/globalisation.lewiswilliamson Charlick, R. (2000) "Popular participation and Local Government Reforms" Africa Notes, New York: Cornell University, (April) pp1-5
Globalisation, in the simplest sense, is economic integration between countries and is represented by the fact that national resources are now becoming mobile in the international market. Globalisation sees: an increase in trade of goods & services through the reduction of trade barriers; an increase in financial flows through the deregulation of financial institutions and markets and floating of currency; an increase in labour
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.
Capitalism is the engine driving globalization. Therefore, the development of capitalism — from the age of mercantilism to today’s neoliberalism — is reflected in the way globalization has unfolded. Since the rise of mercantile capitalism in the 1500’s, the desire for profit has intensified the spread of people, commodities, ideas, images, culture, and capital across the globe. This process of global integration has brought (often by force) non-capitalist economies under the all powerful system of world capitalism that guides our lives today (Robbins 68).
It would appear that globalisation is seen to be the borders between countries, governments, the economy and communities, collective liberalization and openness of markets, particularly through the elimination of barriers to trade in goods and services and the expansion of integrated global financial market. PRUS (2001) simplified the term of globalisation as a process of increasing connectivity, where
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.
Stiglitz, Joseph E. Making Globalization Work. New York: Norton & Company, Inc., 2007. Kindle ebook file.
Globalisation has been associated with three main eras throughout the last century, whereby many facets contributing towards a gradual integration of economies (Gunter & Van der Hoeven, 2004) were hampered by global happenings (Preble, 2010). The first era was highlighted by trade and was projected to increase further. However, the arrival of World War I ensured trade protectionism and reprisal (Elliot, 2006, as cited in Preble, 2010). After the war, economies were starting to integrate and many factors, including the establishment of the...
Globalisation is a broad term that is often defined in economic factors alone. The Dictionary at merriam-webster.com describes globalisation as “the process of enabling financial markets to operate internationally, largely as a result of deregulation and improved communication.” Also due to deregulation on the financial market, multi-national companies are free to trade and move their businesses to areas where a higher return or profit can be achieved. New technology also enables companies to relocate to areas where labour costs are lower, for instance movement of call centre jobs from the UK to India.
Glyn, A. (2007). Capitalism unleashed: Finance, globalization, and welfare. New York, NY: Oxford University Press.
An outstanding mechanism frequently used to interpret ‘Globalization’ is the ‘World Economy’. Back to the colonial age, the coinstantaneous behaviors of worldwide capitals and energy resources flowed from colonies to western countries has been regarded as the rudiment of the economic geography (Jürgen and Niles, 2005). Nowadays, the global economy was dominated by transnational corporations and banking institutions mostly located in developed countries. However, it is apparently that countries with higher level of comprehensive national strength are eager for a bigger market to dump surplus domestic produce and allocate energy resources in a global scale, thus leads to a world economic integration. This module was supported by several historical globalists (Paul Hirst, Grahame Thompson and Deepak Nayyer) ‘their position is that globalization is nothing new but more fashionable and exaggerate, a tremendous amount of internationalization of money and trade in earlier periods is hardly less than today.’ (Frans J Schuurman 2001:64).
Globalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. Greater access to developed country markets and technology transfer hold out promise improved productivity and higher living standard.
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 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 associated with bringing together world economies and cultures. Globalization is a controvertible conception. This allows powerful corporation change local enterprises and in the future make the gaps big between, rich people and poor people. The benefits of an international market to integrated where labour, ideas, capital and goods can be free and to promote the economic development all of the levels in the society. Globalization is a process to interact and integrate among companies, people and the governments of other nations. Globalization is process which international organization, corporations, individuals and communities has become more interconnected with politics, cultures and the earths environment. “It is characterized
The harmful impact of globalization on South Africa has been apparent , through the financial squeeze and through market- oriented policies that have silent economic and reorganization, in job losses, crisis in schooling, closing of hospitals, make wider loopholes in the social security net, water cut offs, the degeneration housing shortage, and unrelenting starvation and poverty in a perspective of deepening discrimination in what is already the second most disparate nation on the globe.