term paper on globalization

Effects of Globalization

Definition of globalization, drivers of globalization.

Globalization is defined as interaction among different countries in order to develop global economy. It entails political, technological, cultural and political exchanges which are facilitated by infrastructure, transport and communication. Some of the traditional international theories of globalization include Ricardian theory of international trade, Heckscher-Ohlin model and Adam Smith’s model (Scholte, 2005).

For globalization to take place, it must be driven by certain factors. The first factor that drives globalization is competitiveness in the market, which focuses on aspects such as global competitors, interdependence among countries and high two-way trade. The second factor that drives globalization is the government.

The government drives globalization through regulation of marketing activities, provision of technical standards that are compatible and elimination of restrictions imposed on trade and investment procedures. The third factor that drives globalization is cost.

Cost in globalization deals with efficiency in sourcing activities, world economies and emerging technological trends. The fourth factor that drives globalization is market, which covers ordinary needs of customers, channels of world markets and marketing techniques that can be transferred to different regions.

Globalization is associated with both positive and negative effects. Its first positive effect is that it makes it possible for different countries to exchange their products. The second positive effect of globalization is that it promotes international trade and growth of wealth as a result of economic integration and free trade among countries.

However, globalization is also associated with negative effects. Its first negative effect is that it causes unemployment. Since companies compete with their rivals in the market, sometimes they are forced to sack some of their employees in order to reduce salary costs and instead maximize profits. This is common in developing countries, where large numbers of unemployed people live in urban areas.

The second negative effect of globalization is that it promotes terrorism and criminal activities because people, food and materials are allowed to move freely from one country to the other. Individuals with evil intentions take advantage of this freedom and carry out terrorism activities and other crimes (Negative Effects of Globalization, 2013).

Negative Effects of Globalization. (2013). Web.

Scholte, J. (2005). Globalization: A Critical Introduction. New York: Palgrave Macmillan.

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Term Paper: Globalization – Definition & Types | Processes | Economics

After reading this term paper you will learn about:- 1. Definition of Globalization 2. Phases of Globalization 3. Types  4. Measurement 5. Factors 6. Effects 7. Advantages 8. Disadvantages.

Term Paper on Globalization

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• Term Paper on the Disadvantages of Globalization

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1. Term Paper on Globalization (Definition):

Globalization is the process of organizing the whole world into a single integrated marketing unit. It is also defined as the process of trans border free flow of products, services, people, culture, technology, and finance.

It leads to the integration of economic, cultural, political, and social systems across national borders Globalization is also referred to as internationalization by some persons. Both these terms are used as synonyms. However, some people use these terms separately.

With various globalization such as phases of globalization, types (kinds) of globalization, global connectivity, measurement of globalization, factors affecting globalization, advantages of globalization and disadvantages of globalization.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); 2. Term Paper on Globalization (Phases):

Globalization is not a new phenomenon. It started with human civilization.

In the past 130 years, modern historians have identified three stages or phases of globalization, viz.:

(i) First phase,

(ii) Second phase, and

(iii) Third phase.

i. First Phase of Globalization:

This phase of globalization started from 1870 and ended in 1913 with outbreak of the First World War.

The main features of first phase are given below:

(i) There was marked mobility of capital.

(ii) The labour mobility was high.

(iii) The magnitude of free trade was limited.

(iv) The global institutions were non-existent.

(v) The National Institutions were heterogeneous and were not well organized.

The First World War had adverse effects on the process of globalization i.e. flow of products, services, labour, and technology across the countries. It started resuming since 1930 gain and got setback from 1940 to 1944 due to Second World War.

ii. Second Phase of Globalization:

The second phase of globalization started from 1945 and culminated in 1973.

The main features of this phase are given below:

(i) The mobility of capital was low than first phase.

(ii) The labour mobility was low.

(iii) The magnitude of free trade was low.

(iv) The global Institutions were getting created during this period.

(v) The National Institutions were heterogeneous and were not standardizes.

iii. Third Phase of Globalization:

The third phase of globalization started from 1974 and is still in progress. It is also known as the current phase of globalization.

Main features of this phase are given below:

(i) The mobility of the capital is high.

(ii) The labour mobility is low.

(iii) The magnitude of free trade is extreme.

(iv) The International Institutes started functioning.

(v) The National Institutions have been standardized.

(vi) The on line global transactions are possible.

(vii) Information technology is being used extensively.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); 3. Term Paper on Globalization (Types):

There are five main types of globalization, viz.:

i. Economic Globalization:

It refers to trans-country flow of capital/finance or money.

Main effects of economic globalization are:

(a) Enhancement in world-wide economic relationships.

(b) Increase in international trade at a faster rate than the growth in the world economy..

(c) Increase in international flow of capital including foreign direct investment.

(d) Creation, of international agreements leading to organizations like the WTO and OPEC.

(e) Development of global financial systems.

(f) Increased role of international organizations such as WTO, WIPO, and IMF that deal with international transactions.

(g) Increase of economic practices like outsourcing, by multinational corporations.

ii. Production Globalization:

It refers to trans-country flow of goods or products. It leads to transnational production of various goods or products. In such system, a product can be manufactured in several countries of the world with same quality.

iii. Cultural Globalization:

It refers to trans-country flow of culture.

The main effects of cultural globalization are:

(a) Greater international cultural exchange,

(b) Spreading of multiculturalism, and better individual access to cultural diversity,

(c) Greater international travel and tourism,

(d) Greater immigration, including illegal immigration

(e) Spread of local foods such as pizza and Indian food to other countries

(f) Development of a global telecommunications infrastructure and greater trans-border data flow, using such technologies as the Internet, communication satellites and telephones.

(g) Increase in the number of standards applied globally; e.g. copyright laws and patents.

(h) Formation or development of a set of universal values.

(i) Spread of local goods, dresses and language to other countries.

iv. Information Globalization:

It refers to trans-border flow of knowledge, ideas and information. It is also known as communication globalization or technological globalization. It makes use of information technology and permits on line global transactions.

v. Ecological Globalization:

It refers to global protection of ecosystem from degradation and pollution.

Main features of ecological globalization are given below:

(a) It prevents ecosystem from various types of risks.

(b) It requires global collective action.

(c) It is also known as ecosystem globalization or environmental globalization.

(d) It leads to protection of environment globalization.

4. Term Paper on Globalization (Measurement):

The rate or extent of globalization is measured on yearly basis.

Different types of globalizations are measured separately as follows:

The data transfer border flow of capital or finance or money and direct foreign investment.

The data of trans country mobility of goods and products.

The mobility of tourist, travellers, and traders across the countries.

The data of information flow across the borders.

The work done for the protection of global ecosystem.

5. Term Paper on Globalization (Factors):

The rate of globalization is affected by several factors such as:

(i) Global Atmosphere:

The peaceful global atmosphere promotes globalization, whereas the war situation restricts globalization. The globalization was adversely affected during First and Second World war period.

(ii) Natural Calamities:

Natural calamities such as earth quake, tornadoes, floods and disease epidemic have adverse effects on the rate of globalization.

(iii) International Relationships:

Harmonious relationships among countries enhance the rate of globalization, whereas disharmonious relationships restrict the process of globalization.

(iv) Means of Transportation:

Better means of transportation among countries promotes globalization, whereas poor transportation system restricts the globalization.

(v) Means of Communication:

Better means of communication promotes globalization, whereas poor means of communication restricts the globalization.

(vi) Tourist Places:

Good and large number of tourist places in a country will attract tourists and travelers and vice versa.

(vii) Demand:

The demand of goods, services and information in other countries will enhance the international trade and the globalization.

6. Term Paper on Globalization (Effects):

The globalization has effects on movement of goods, services, information, finance, people, spread of cultures and ideas, markets, export and intellectual properties etc.

These are briefly discussed below:

i. Flow of Goods, Services Information etc.:

There is enhancement in the information flow between geographically remote locations and more trans-border data flow using communication satellites, the Internet, wireless telephones etc.

ii. Markets:

The global common market has a freedom of exchange of goods and capital. The worldwide production and financial markets emerge. The free trade zones are formed having less or no tariffs.

iii. Access to Goods and Finance:

There is a broad access to a range of goods for consumers and companies. Corporate, national and sub-national borrowers have a better access to external finance.

iv. Solution of Global Problems:

Global environmental problems like cross- boundary pollution, over fishing on oceans, climate changes are solved by discussions International criminal courts and international justice movements are launched.

v. Uniform Standards:

The standards applied globally like patents, copyright laws and world trade agreements increase.

vi. Spread of Culture:

Globalization leads to spread of cultures as there is individual access to cultural diversity. This diversity decreases due to hybridization or assimilation. There is enhancement in worldwide fads and pop culture. The cross-cultural contacts grow and cultural diffusion takes place.

vii. Movement of People:

The international travel and tourism increases and immigration between countries increases. The worldwide sporting events like the Olympic Games and the FIFA World Cup are held. The free circulation of people of different nations leads to social benefits.

viii. Export:

The local consumer products are exported to other countries. There is an increase in the desire to use foreign ideas and products, adopt new practices and technologies and be a part of world culture.

ix. Reduction in Transport Cost and Subsidies:

Due to development of containerization for ocean shipping, the transportation costs are reduced. The subsidies for local businesses decrease and there is reduction in capital controls.

x. Recognition of Intellectual Property:

There is supranational recognition of intellectual property restrictions i.e. patents authorized by one country are recognized in another.

7. Term Paper on Globalization (Advantages):

Some important advantages of globalization are listed below:

i. Connectivity:

People around the world are more connected to each other than ever before. Global mass media connects all the people in the world.

ii. Relationships:

The relationships between counties improve and the possibility of war between the developed countries decreases. The interdependence among Nations increases.

iii. Freedom of Trade:

It increases free trade between countries and reduces the international barriers.

iv. Investment Opportunity:

As the liquidity of capital increases, developed countries can invest in developing ones. The flexibility of corporations to operate across borders increases.

v. Integration:

It leads to integration or consolidation of global markets. In other words the markets are interlinked. It is much easier for people to travel, communicate and do business internationally.

vi. Quality and Price:

There is improvement in quality and reduction in price due to competition among different companies.

vii. Flow of Goods and Services:

Information, money, technology and products flow across the border quicker than ever before. Products produced in one part of a country are available to the rest of the world. There is increase flow of communication between the individuals and corporations in the world. The movement of goods and people across the border is faster than ever before.

viii. Standard of Living:

Globalization offers a higher standard of living for people in rich countries and is the only realistic route out of poverty for the world’s poor. It is claimed that globalization increases the economic prosperity and opportunity in the developing world. All the countries involved in the free trade are at a profit. As a result, there are lower prices, more employment and a better standard of life in these developing nations.

ix. Efficient use of Resources:

The civil liberties are enhanced and there is a more efficient use of resources. The environmental protection in developed countries increases.

x. Spread of Culture:

Globalization leads to better cultural understanding and tolerance. Due to improved transport facilities, more and more people are traveling to different countries, thereby spreading their culture to other parts of the world. Reduction of cultural barriers increases the global village effect. There is spread of democratic ideals.

8. Term Paper on Globalization (Disadvantages):

There are some disadvantages of globalization which are listed below:

i. Increase in Population:

Trans country flow of people will lead to increase in the population of certain countries especially in developed countries due to better facilities.

ii. Small Industries:

It will have adverse effects on small scale industries which cannot compete in global market in terms of quality and price, Thus there will be hold of big industries.

iii. Employment:

There will be adverse effect on employment due to close down of small industries.

iv. Monetary Gain:

This will lead to tough competition among companies leading to loss in monetary gain.

v. Terrorism:

Trans border flow of people may lead to increase in criminal activities and terrorism.

vi. Spread of Diseases:

There is greater risk of unintentional transmission of diseases between nations,

vii. This may lead to widening of gap between rich and poor countries.

viii. This may lead to exploitation of workers specially labours.

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ENCYCLOPEDIC ENTRY

Globalization.

Globalization is a term used to describe the increasing connectedness and interdependence of world cultures and economies.

Anthropology, Sociology, Social Studies, Civics, Economics

Freight Trains

Freight trains waiting to be loaded with cargo to transport around the United Kingdom. This cargo comes from around the world and contains all kinds of goods and products.

Photograph by Bloomberg

Globalization is a term used to describe how trade and technology have made the world into a more connected and interdependent place. Globalization also captures in its scope the economic and social changes that have come about as a result. It may be pictured as the threads of an immense spider web formed over millennia, with the number and reach of these threads increasing over time. People, money, material goods, ideas, and even disease and devastation have traveled these silken strands, and have done so in greater numbers and with greater speed than ever in the present age. When did globalization begin? The Silk Road, an ancient network of trade routes across China, Central Asia, and the Mediterranean used between 50 B.C.E. and 250 C.E., is perhaps the most well-known early example of exchanging ideas, products, and customs. As with future globalizing booms, new technologies played a key role in the Silk Road trade. Advances in metallurgy led to the creation of coins; advances in transportation led to the building of roads connecting the major empires of the day; and increased agricultural production meant more food could be trafficked between locales. Along with Chinese silk, Roman glass, and Arabian spices, ideas such as Buddhist beliefs and the secrets of paper-making also spread via these tendrils of trade. Unquestionably, these types of exchanges were accelerated in the Age of Exploration, when European explorers seeking new sea routes to the spices and silks of Asia bumped into the Americas instead. Again, technology played an important role in the maritime trade routes that flourished between old and newly discovered continents. New ship designs and the creation of the magnetic compass were key to the explorers’ successes. Trade and idea exchange now extended to a previously unconnected part of the world, where ships carrying plants, animals, and Spanish silver between the Old World and the New also carried Christian missionaries. The web of globalization continued to spin out through the Age of Revolution, when ideas about liberty , equality , and fraternity spread like fire from America to France to Latin America and beyond. It rode the waves of industrialization , colonization , and war through the eighteenth, nineteenth, and twentieth centuries, powered by the invention of factories, railways, steamboats, cars, and planes. With the Information Age, globalization went into overdrive. Advances in computer and communications technology launched a new global era and redefined what it meant to be “connected.” Modern communications satellites meant the 1964 Summer Olympics in Tokyo could be watched in the United States for the first time. The World Wide Web and the Internet allowed someone in Germany to read about a breaking news story in Bolivia in real time. Someone wishing to travel from Boston, Massachusetts, to London, England, could do so in hours rather than the week or more it would have taken a hundred years ago. This digital revolution massively impacted economies across the world as well: they became more information-based and more interdependent. In the modern era, economic success or failure at one focal point of the global web can be felt in every major world economy. The benefits and disadvantages of globalization are the subject of ongoing debate. The downside to globalization can be seen in the increased risk for the transmission of diseases like ebola or severe acute respiratory syndrome (SARS), or in the kind of environmental harm that scientist Paul R. Furumo has studied in microcosm in palm oil plantations in the tropics. Globalization has of course led to great good, too. Richer nations now can—and do—come to the aid of poorer nations in crisis. Increasing diversity in many countries has meant more opportunity to learn about and celebrate other cultures. The sense that there is a global village, a worldwide “us,” has emerged.

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“Social change is now proceeding so rapidly that if a social scientist had proposed as recent as 15 years ago to write a book about globalization they would have had to overcome a wall of stony and bemused comprehension.”(Globalization, 2001) Although the word ‘global’ is over 400 years old,the common usage of such words as ‘globalization’, ‘globalize’ and ‘globalizing’  didn`t begin until the early 1960 th . The definition of globalization has changed with the years including more and more specific features, starting from the general dictionaries and ending up with the WWW, where more than two or three hundred definitions from more than 101 thousand websites can be found. “Globalization is a process of interacting and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.”(Globalization, 2008)

The discussion of economic aspectalong with multidimensional set of social processes is one of the significant parts of any integral account of globalization. In fact, the transformative powers of globalization affect deeply the economic, political, cultural, technological, and ecological dimensions of contemporary social life.

The economic sense of globalization can be studied on the example of multinational companies and brands which influence all aspects of our lives. It is a common knowledge that the process itself refers to all of the competitors, who are involved, and today the global trade seems to widen greatly as the pragmatic calculations broaden the national economies.

As far as I`m concerned, Wal-Mart is one the most competitive and intense partakersall over the world. Launched on July 2, 1962 as the Discount city store, Wal-Mart sky rocked up to over two million employees, more than 6200 stores and the record $408.21 revenue. Figures are phenomenal, so is the influence Wal-Mart has on the whole economy of the United States. The “Save Money Live Better” slogan is of extreme benefit to the customer, but when it comes to the vendors, they always face extreme challenge when operating with the giant. Over the years Wal-Mart has become so powerful that there is hardly any supplier, who didn`t think of mutually beneficial cooperation. There are lots of examples when it had become a desperate need and the only redemption for the companies to sign up a contract even if it was far from what they were expecting. Companies just have to obey the rules set up by Wal-Mart, if not the shelves of the supermarket will be used in another way. In my opinion the passage is a bright example of how the ‘globalization’ influences the development modern business. Wal-Mart has reached a point when it makes own rules, outsources the manufacturers, implements environmental measures, makes companies change their policies and for sure the vast boost of the ‘global’ business development.

Having the economic backbone ‘globalization’ meets no borders and eventually moves to the most economically profitable places. I was taken aback by the article about the Galesbourg Maytag plant closure and the fact that from the economic point of view it was an unavoidable measure. Companies like Maytag outsource the production out of country and from the first view the case of the Galesbourg Maytag plant is local in its size,however over 2.7 manufacturing jobs are lost for last decade. Shifts out of the country benefit Mexico and China and as a result the record $600 billion trade deficit and as a consequence the fallen value of dollar is definitely to be considered as a drawback. Despite the fact that the union made an effort to increase productivity and the Maytag was still profitable, the position has dropped. The laid-off workers have to make both ends meet by working as a welder or compete with their kids for Wal-Mart jobs for example. Overall, the article depicts us the severe truth of today`s business realities.

Medical tourism is nothing new and it is likely for the most sophisticated folks to visit specific professionals from another country or their choice depends on the unique specialties the place offers. But when talking about the medical tourism to Bangkok or New Dehli, personally I find it absolutely amusing. The medical system of the United States is doubtless cutting edge and for sure if it was the question of service most of the Americans wouldn`t even try to find alternatives, but when it comes to the actual price, the situation changes a lot. It turns out that some people would rather fly thousands of miles away to spend less money for the surgeries that couldn`t afford here in the United States. For most of the Americans the benefits of the medical tourism cannot be denied as they have an opportunity to save money, get acquainted with new culture and for most of them it is a chance of a lifetime. Becoming more and more popular, the hospitals pay attention to their reputation as they apply for the accreditation, contribute a lot in the overall impression of the visitors and there is no wonder why the trend accelerates a lot. What is more, medical outsourcing is becoming one of the popular forms of business as the executives report the increasing figures as the time frame reduced significantly and there is no longer a probability to wait for a year or more. It seems to me if pointing out the definite advantages of globalization, medical tourism is one of the blessings the modern world offers us. Personally I think that health is the most important god given gifts and the fact that we have an opportunity to choose makes me feel proud.

All in all the prime goal of my term paper is to decide whether globalization is a force for good or bad and that’s a tricky question, for sure “the globalization has transformed the nature of economic activity.” (Globalization: a critical introduction,2000) Working on the paper I realized that it is rather hard to figure out all pros and cons of globalization just by learning the theory, as the real life examples show us how rich the meaning of globalization is. From my point of view, if taking into consideration the challenge that is forcing the global development and increases our life standards, I`d say that pluses overweigh minuses. Unfortunately, it is next to impossible to avoid drawbacks as some of the cases seem not to be that positive and show us the reverse side of the medal. Still we have to admit the fact that globalization is taking over and having own opinion about this process is an indispensible part of building a successful future.

Donald J. Boudreaux (2008). Globalization (1 st Ed.). Westport, CT.

Jan Aart Scholte (2000). Globalization (1 st Ed.). London

Malcolm Waters (2001). Globalization (2 nd Ed.). New York, NY

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Essay on Globalization for Students and Children

500+ words essay on globalization.

Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies.

How Globalization Came into Existence?

First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents.

Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade . By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices.

True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe.

From the 19th century, there was a domination of Great Britain all over the world. There was a rapid spread of international trade. The British developed powerful ships and trains. Consequently, the speed of transportation greatly increased. The rate of production of goods also significantly increased. Communication also got faster which was better for Global trade .

Finally, in 20th and 21st -Century Globalization took its ultimate form. Above all, the development of technology and the internet took place. This was a massive aid for Globalization. Hence, E-commerce plays a huge role in Globalization.

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Impact of Globalization

First of all, Foreign Direct Investment (FDI) increases at a great rate. This certainly is a huge contribution of Globalization. Due to FDI, there is industrial development. Furthermore, there is the growth of global companies. Also, many third world countries would also benefit from FDI.

Technological Innovation is another notable contribution of Globalization. Most noteworthy, there is a huge emphasis on technology development in Globalization. Furthermore, there is also technology transfer due to Globalization. The technology would certainly benefit the common people.

The quality of products improves due to Globalization. This is because manufacturers try to make products of high-quality. This is due to the pressure of intense competition. If the product is inferior, people can easily switch to another high-quality product.

To sum it up, Globalization is a very visible phenomenon currently. Most noteworthy, it is continuously increasing. Above all, it is a great blessing to trade. This is because it brings a lot of economic and social benefits to it.

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✍️Essay on Globalisation: Samples in 100, 150 and 200 Words

• Updated on  
• Oct 25, 2023

Globalisation means the combination of economies and societies with the help of information, ideas, technology, finance, goods, services, and people. It is a process where multinational companies work on their international standing and conduct operations internationally or overseas. Over the years, Globalisation has had a profound impact on various aspects of society. Today we will be discussing what globalisation is and how it came into existence with the essay on globalisation listed below.

This Blog Includes:

How globalisation came into existence, essay on globalisation in 100 words, essay on globalisation in 150 words, essay on globalisation in 200 words.

For all those unaware, the concepts of globalisation first emerged in the 20th century. Here are some of the key events which led to the development of globalisation in today’s digital world.

• The ancient Silk Route as well as the maritime routes led to the exchange of goods, ideas and culture in several countries. Although these were just trade routes, but later became important centres for cultural exchange.
• Other than this, the European colonial expansion which took place from the 15th to the 20th century led to the setting up of global markets where both knowledge and people were transferred to several developing countries. 
• The evolution and exchange of mass media, cinema and the internet further led to the widespread dissemination of cultures and ideas.

Also Read: Essay on the Importance of the English Language for Students

Globalization, the interconnectedness of nations through trade, technology, and cultural exchange, has reshaped the world. It has enabled the free flow of goods and information, fostering economic growth and cultural diversity. However, it also raises challenges such as income inequality and cultural homogenization. 

In a globalized world, businesses expand internationally, but local industries can suffer. Moreover, while globalization promotes shared knowledge, it can erode local traditions. Striking a balance between the benefits and drawbacks of globalization is essential to ensure a more equitable and culturally diverse global community, where economies thrive without leaving anyone behind.

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Globalization is the process of increasing interconnectedness and interdependence among countries, economies, and cultures. It has transformed the world in various ways.

Economically, globalization has facilitated the flow of goods, services, and capital across borders. This has boosted economic growth and reduced poverty in many developing nations. However, it has also led to income inequality and job displacement in some regions.

Culturally, globalization has resulted in the spread of ideas, values, and cultural products worldwide. While this fosters cultural exchange and diversity, it also raises concerns about cultural homogenization.

Technologically, globalization has been driven by advances in communication and transportation. The internet and smartphones have connected people across the globe, allowing for rapid information dissemination and collaboration.

In conclusion, globalization is a complex phenomenon with both benefits and challenges. It has reshaped the world, bringing people closer together, but also highlighting the need for responsible governance and policies to address its downsides.

Also Read: Essay on Unity in Diversity in 100 to 200 Words

Globalization, a multifaceted phenomenon, has reshaped the world over the past few decades. It involves the interconnectedness of economies, cultures, and societies across the globe. In this essay, we will briefly discuss its key aspects and impacts.

Economically, globalization has led to increased international trade and investment. It has allowed companies to expand operations globally, leading to economic growth in many countries. However, it has also resulted in income inequality and job displacement in some regions.

Culturally, globalization has facilitated the exchange of ideas, values, and traditions. This has led to a more diverse and interconnected world where cultures blend, but it can also challenge local traditions and languages.

Socially, globalization has improved access to information and technology. It has connected people across borders, enabling global activism and awareness of worldwide issues. Nonetheless, it has also created challenges like cybercrime and privacy concerns.

In conclusion, globalization is a double-edged sword. It offers economic opportunities, cultural exchange, and global connectivity, but it also brings about disparities, cultural tensions, and new global challenges. To navigate this complex landscape, the world must strive for responsible globalization that balances the interests of all stakeholders and promotes inclusivity and sustainability.

Related Articles

The movement of goods, technologies, information, and jobs between countries is referred to as globalisation. 

Globalization as a phenomenon began with the earliest human migratory routes, or with Genghis Khan’s invasions, or travel across the Silk Road.

Globalisation allows wealthy nations to access cheaper labour and resources, while also providing opportunity for developing and underdeveloped nations with the jobs and investment capital they require.

For more information on such interesting topics, visit our essay-writing page and follow Leverage Edu ! 

Malvika Chawla

Malvika is a content writer cum news freak who comes with a strong background in Journalism and has worked with renowned news websites such as News 9 and The Financial Express to name a few. When not writing, she can be found bringing life to the canvasses by painting on them.

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Term Paper on Globalization

Globalization term paper:.

The concept of globalization is essential to understand the patterns of economic, political and cultural change in the contemporary world. Introduction Globalization is known as the name of the social, economic and political processes taking place in our world. During the last years, globalization has become an important subject for various popular and academic debates. Today the concept of globalization is implemented to describe different aspects of contemporary life. It includes such aspects as complexity of contemporary capitalism, the difficulties of the nation-state system and the increasing quantity of transnational corporations and organizations as well as essential competitiveness between global culture to local cultures, the rise of the communications revolution due to introducing of new technologies in the world (Szeman 2001). In other words, globalization is a concept that has both positive and negative sides of the contemporary existence. This paper discusses the concept of globalization and its perspective on the changing patterns of the economic, political and cultural life in the contemporary world. Additionally, it focuses special attention on the discourse of fordism, post fordism, post modernity and postcolonial theory as well as the development of the networked society in the time of globalization.

The concept of globalization and its development The concept of globalization appeared at the end of the 19th century and the beginning of the 20th century (1850 –1914) (Rourke and Williamson 1999, p. 5).

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At that time, the concept of globalization paid its main attention to the money aspect mainly characterized by the rise of international trade and the increasing flow of migrants. People have been migrating and travelling having different aims. For example, European migrants went the New World – America – in the hope to become rich, while Asian migrants showed their negative relation to America negatively as a colonial country. In addition, the intensive development of industry and the global industrial division of labour in America resulted in large female migration. (Sassen 1998, pp. 41-45)

Today many social theorists are stating that modern world characterized by rising globalization with the dominant economic system of world capitalism. It gives priority for transnational corporations and organizations in contrast to the nations, and destroys local traditions and cultures developing a global culture.

There is a great diversity of theorists’ views on the concept of globalization. Some of them believe that globalization may cause the Westernization of the world (Latouche 1996), but others (Ferguson 1992) consider that it entails the ascendancy of capitalism (Kellner). Some theorists state that globalization increases homogeneity, while others believe that it produces heterogeneity and diversity because of increased hybridization. For many theorists globalization and modernity are similar (e.g. Giddens 1990; Beck 1992), but others state that the “global age” and “modern age” are different (Albrow 1996) (Kellner).

In contrast, postmodernists support diversity, the local, difference, and heterogeneity, and sometimes they note that globalization itself produces multiplicity and hybridity. They argue that with the help of global culture special appropriations and developments are possible in the entire world. Globalization will create new types of hybrid syntheses of the global and the local, helping to widespread heterogeneity and difference. Postmodernists also argue that, “every local context involves its own appropriation and reworking of global products and signifiers, thus producing more variety and diversity” (Kellner).

In turn, Axtmann suggests that global citizenship and accordingly the impact of globalization could lead to a real acceptance of heterogeneity, diversity, and otherness contrasting with globalization that just promotes sameness and homogeneity (Kellner).

Globalization is able to produce new forms of imperialist domination in accordance with globality and universality. There is a danger that globalization just disguises a indefatigable Westernization, or Americanization, of the world. However, restoration of ethno-nationalism, tradition, religious fundamentalisms, and other types of resistance to globalization are active to certain degree by a deviation of the homogenization and probably Westernization connected with some globalization forms.

Coming back to Westernization, it is worth to note that globalization is frequently characterized by the rising dominance of western or American forms of economic, political, and cultural life (“westernization” or “Americanization”) (Westernisation). Westernization had a great and a pervasive influence on the world during the past decades. The collapse of imperialism and colonialism over the decades was noticed by the two World Wars of the 20th century, after which many smaller countries, which were created by former colonial authorities (primarily European), obtained independence and involved different aspects and features of Western culture and tradition. After a downfall of the former Soviet Union at the end of the 20th century, many of its component states became the subject for Westernization. It also included privatization of hitherto state-controlled industry.

Special attention must paid to the fordism and post fordism movement. Fordism is known as the system of mass production and consumption characteristic of highly developed economies and it existed in the 1940s-1960s. According to Fordism theory, the combination of mass consumption with mass production is necessary to achieve material advancement and economic growth. The period of 1970s-1990s is characterized by slower growth and rising inequality of income. At that time, the system of production and consumption organization has transformed. That was a second transformation – post fordism – which led to the second rise of economic growth. This new system is called the “flexible system of production” (FSP) or the “Japanese management system.” On the production side, the main features of FSP are high reductions in information expenditures and overheads, Total Quality Management (TQM), leaderless work groups and just-in-time inventory control (Fordism, Post-Fordism and the flexible system of production). On the consumption side, the main features of FSP are the globalization of consumer goods markets, quicker product life cycles, and far bigger product/market differentiation and segmentation (Fordism, Post-Fordism and the flexible system of production).

Along with process engineering, the second transformation is making transformations not only how we produce things, but also how we live and what we consume accordingly. It illustrates the decreasing essentiality of scale and scope and is made with the help of costs reductions in logistics, communications, and information processing – these reductions occur in result of the computers’ introduction and rising ability of people to use them. (Reschenthaler and Thompson 1996, pp. 125-144).

So, globalization must be illustrated as a difficult and multidimensional phenomenon that includes various levels, flows, and conflicts as well as its possible future.

A critical theory of globalization deals with the reality of globalization, its authority and influence. However, it also studies different forces of resistance and fight that try to resist to the most destructive sides of globalization or global forces.

For example, the constant issue of local and political fight with complex causes is race, ethnicity, class and nationalist problem. It is well-known that the period from the end of 1980s to the present time is characterized by a rise of traditionalism, nationalism, and religious fundamentalism along with increasing globalization.

It is also worth to admit that the resurgence of regional, cultural, and religious differences in the former USSR and Yugoslavia along with intensive tribal conflicts in Africa and in other places allows us to make a suggestion that globalization and homogenization were not so much connected and deep as it was considered by its supporters and critics. In result, culture has become a new source of conflict and an essential indicator of fight between the local and the global. National cultures caused many conflicts between Muslims, Serbs, and Croats, Azarbaijanis and Armenians, Mohawk First Nation peoples and Quebecois. In South Africa, these are the fight between the Umkatha tribe and the African National Congress.

The other important reason of resistance and struggle is the gender inequality and difference. At the level of policy, the influence of globalization on women and gender relations is still ignored on the national and international levels.

Due to gender inequalities and discrimination in many countries worldwide, globalization processes may render their negative influence on women in greater degree than on men.

Nevertheless, many advocates of women admit that globalization influences various groups of women differently. It even creates new treatment standards for women, and assists some groups of women to mobilize. Thus, the role of globalization for many women is still in debate and it is evidently different.

Consequently, globalization is very complex concept and it stimulates to occurrence of different theories, economical, political and cultural studies. There are a lot of reasons due to which globalization has been perceived as mainly an economic phenomenon that additionally has had an evident impact on political, social, and cultural life. Economic globalization means, that it is a long-run upward tendency. Thus, it will be useful to measure globalization. There is a lot of various indicators of economic globalization and they may or may not illustrate familiar patterns in regards to change over time. Trade globalization can be distinguished as the certain share of the production all over the world. Investment globalization would be the share of all world capital invested that belongs to non-nationals capital in the world that belongs to non-nationals (i.e. “foreigners”) (Chase-Dunn, Kawano and Nikitin). Also it is possible to investigate the degree of economic integration of countries by defining the extent to which national economic growth rates correspond to each other in the world countries.

From the economic point of view, globalization is connected with the transnationalization and deterritorialization of industry and capital, which has permitted companies to cross national borders and to travel over the world to succeed from cheaper labor and to open, develop and promote new markets for different services and goods. In addition, economic globalization has been connected with the occurrence of international free trade agreements as the General Agreement on Tariffs and Trades (GATT), and the foundation of an around-the-clock global financial market (Szeman 2001, p. 212).

Contemporary patterns of economic globalization have been much connected with a new development of the relationship between markets and states.

Together with financial integration, the operations of multinational corporations also played the important role. They integrated national and local economies into global and regional production networks. Due to such conditions, national economies are no longer autonomous systems of wealth creation since national boundaries no longer function as essential barriers to the organization of economic activity and its conduct (Held and McGrew).

As it was above-mentioned, the multinational corporation (further – MNCs) was significant to the establishment of a new global capitalist order. In 1999 their number accounted for more than 60,000 MNCs worldwide with 500,000 foreign subsidiaries, selling $9.5 trillion of services and goods globally (Held and McGrew). Modern transnational production essentially exceeds the level of global exports and has become the main means for exporting services and goods. According to some estimates, multinational corporations now make for at least 20 per cent of world production and 70 per cent of world trade (Held and McGrew).

Economic globalization has also been characterized by an evident internationalization of political power connected with a relevant globalization of political activity. Thus, it is worth to deal with the political meaning of globalization.

A special attention has been paid to the threats caused by globalization in regards of the sovereignty and power of nation-states and accordingly, on the occurrence of new sites of transnational politics placed in global cities, international organizations (such as NGOs and the United Nations) and transnational corporations (Szeman 2001, pp. 209-217).

At that time global cities were the spaces where labor, capital, infrastructure, and information are concentrated (Irvine 1999). From this point of view, globalization is considered to be a networked urbanization, a reconcentration of production, capital, and labor in cities as “the nodes of the networked economy” (Irvine 1999). It means that global cities are the nodes of cyberspace, the space of flows including the simultaneous concentration and decentralization of people, economic activity, communications, technical infrastructure, and information (Irvine 1999). From the point of the diffusion of cultural productions on the Net, cultural globalization follows the logic of urban concentration in the global information economy. In turn, cyberpace is a segmented and segregated space that is similar to global cities where IT infrastructure, firms, capital, labor, and services are concentrated, as it was already above mentioned.

Research of the politics of globalization consists of estimation of the growing militarization of global relations, the occurrence of new nationalisms and ethnic confrontations, and the intensive migrations of peoples across regions or even across the world. This process concerns essential problems on notions of cultural belonging and citizenship in almost all countries in the West (Szeman 2001).

The concept of globalization has also been researched in regards of the development of new communication technologies that are significant in destroying our world spatially. With the help of these global communication technologies, it has become possible to perceive our globe as a single space shared by all human beings. It does not only mean that with the help of computer and communication technologies we can instantaneously transmit and transfer information each other all over the world. It mainly means that by circulating of information, images and ideas, people (and especially global elites) around the globe can find similar cultural referents. The emergence of a “global culture,” has been possible only due to the invention of new technologies. Today people in different countries can see the same news events or TV-show programs. Now it is evidently clear for all interesting hybrid cultural forms of global culture that the global distribution of cultural forms and ideas hardly equal. Many cultural critics in globalization has focused their special interest on the influence of the global distribution of a capitalist culture “anchored in the United States” and on its evident threat to the continued existence of local traditions and cultures (Szeman 2001). Probably, it is just here the study of globalization and postcolonial studies is most clearly imposed. The relationship between globalization and the specific issues of postcolonial studies is too difficult and complex. This can be partially explained by distinctions in emphasis and that these two concepts have the disciplinary origins. In usual, globalization is still a term used mainly in the social sciences, where it is employed to depict contemporary Western experience, but postcolonial studies are introduced in the humanities and pay their main attention on the practices and experiences of non-Western countries, especially in the case if they are related to Western economic, cultural and political priority.

The primary issues of postcolonial studies have been determined in accordance with the complex consequences of 19th and 20th-centuries – imperialism and colonialism. Along with the fact that globalization is originated from the European ideas of colonialism and imperialism, it defines some contemporary transformations that have directly changed some of the strong concepts of postcolonial studies, such as identity, place, the nation, and ways of the resistance connected to these concepts.

In the 20th-century, the current implementation of the term globalization is used according to Marshall McLuhan’s vision of a “global village” made by the world-wide spread of communication technologies, and in “world-systems theory” of Immanuel Wallerstein (Szeman 2001). The central point of Wallerstein’s theory, as first developed in The Modern World System (1974) is that the world economic system has been only capitalist one from its first occurrence in the 16th century. The postcolonial studies revealed a big insistence on the cultural changes of colonialism and imperialism. Postcolonial criticism has asserted that must be noticed as a basis to creation, production and maintenance of colonial relationship.

From this vision, and particularly due to the diffusion of a global mass culture, globalization may be perceived as “the continuation and strengthening of Western imperialist relations in the period after decolonization and postcolonial nationalist movements” (Szeman 2001).

Conclusion A critical theory of globalization determines the interdependencies and interconnections between various levels such as the political, economic, psychological and cultural as well as between various flows of people, products, ideas, information and technology. The speed of globalization development with its space-time compression, its instant financial transactions, its simultaneous forms of mass communication, and a highly incorporated world market is certainly a novelty in our world. New technologies make significant changes in the nature of work and create new leisure forms. The hyperreality of cyberspace, new virtual realities, and new information and entertainment modes are the other main characteristic features of globalization.

Present-day globalization explains the matrix of global and local forces as well as of forces of resistance and domination, of a condition of quick change and a “great transformation” caused by the global restructuring of capital and multivariate effects of new technologies. Therefore, globalization is evidently a force of homogenization. The influence of globalization much depends from a position of country in global political, economic and military hierarchies as well as from its domestic political and economic structures, the institutional pattern of inner politics of the state, certain government and societal strategies for contesting, ameliorating and managing imperatives of globalization (Held and McGrew). The future will show what visions, perspectives and concepts best characterize globalization in present.

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