globalization essay introduction

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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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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Globalization: A Very Short Introduction (3rd edn)

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‘Globalization’ has become one of the defining buzzwords of our time — a term that describes a variety of accelerating economic, political, cultural, ideological, and environmental processes that are rapidly altering our experience of the world. Globalization: A Very Short Introduction has been fully updated for a third edition, to include recent developments in global politics, the global economy, and environmental issues. Presenting globalization in accessible language as a multifaceted process encompassing global, regional, and local aspects of social life, this VSI looks at its causes and effects, examines whether it is a new phenomenon, and explores the question of whether, ultimately, globalization is a good or a bad thing.

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Globalization Essay Intro Examples to Inspire You

Table of Contents

Globalization is the process by which the world, previously isolated through physical and technological distance, becomes increasingly interconnected. This is a widely discussed topic in essays and various writing assignments. And if you want your essay to attract the attention it deserves, you’ll need to make a strong  globalization essay introduction.

This article aims to provide some examples to inspire you to create a powerful introduction. We’ve also included some information about globalization that you need to know to write an informative essay.

You can apply these ideas to your introduction to globalization essay so you can better present a cohesive unit of work.

What Is Globalization?

Before writing a comprehensive essay on globalization, it’s important to get a deeper knowledge of what it is. To help aid your research, here is a brief description of globalization.

Globalization is the spreading of ideas, knowledge, information, goods, and services worldwide.  In the context of business, this term describes integrated economies marked by free trade and the free flow of capital among nations.

Globalization, or globalization as it is sometimes called, is driven by cultural and economic convergence. This convergence involves- and sometimes requires — increased interaction, integration, and interdependence between nations. The more countries and regions in different parts of the world become intertwined politically, culturally, and economically, the more globalized they become.

Why Is Globalization Important?

Globalization has radically changed the way businesses, nations, and people, in general, interact. It has affected the nature of economic activities among different nations by expanding trade and opening global supply chains. These benefits businesses because they have easier access to natural resources and labor.

Changes in the way nations trade and interacts also help to promote the exchange of cultural ideas. It eliminates barriers created by geographical limitations, political boundaries, and political economies.

Global trade benefits both parties by allowing each to take advantage of the other’s technological, natural, and human capital. It allows businesses of one nation to access resources from another nation. Businesses can find cheaper raw materials and parts, less expensive or more skilled labor, and more efficient ways to develop products.

8 Globalization Essay Introduction Examples

With globalization and open markets, there has been a significant rise in multinational companies in recent years. Companies are going global because they want to expand their market, access resources, and build new talent pools. This way, companies can create greater value for shareholders and compete effectively. Companies are developing and expanding their workforce across the globe. Some have team members living in different countries. Many organizations have started hiring virtual teams due to this new trend.

Globalization is the spread of a business, culture, or technology internationally. When borders of countries and continents no longer matter, the whole world becomes one large village. The goal of globalization is to reduce geographical and political barriers so businesses worldwide can run more smoothly. 

Globalization is the process by which the world becomes more interconnected culturally, economically, and politically. The increase in intercultural relations worldwide results in shared ideas, cultures, goods, services, and investments. Globalization has been going on for several decades, but it has witnessed a significant increase in the past sixty years. Thomas Friedman describes the current globalization trend as the third major wave of globalization in human history.

Globalization has been a decade-long phenomenon, and whether or not it generates growth depends on your viewpoint. The western world, especially the US and some European countries, is the one that fully reaps the benefits of globalization. Many experts, however, argue that globalization isn’t helping developing countries very well. Some even think that it worsens poverty and inequality scenarios in these countries .

Globalization is the way forward for economic growth and technology integration. Producers and service manufacturers can sell their products and services globally without many restrictions. High growth rates in the service industry can also be attributed to globalization. And no one should be left behind in the global marketplace.

Globalization has occurred rapidly in recent decades. It has created economic, social, political, and cultural integration worldwide. It does this through technological advancement, telecommunications, transportation, and so on. Although it has countless benefits for businesses, its negative effects also need to be addressed.

Globalization has affected our daily lives in one way or another without us knowing it. Rapid advances in information and communication technologies (ICTs) and economic liberalization of trade and investment have accelerated globalization. Modern-day markets are becoming saturated with both industrial goods and daily purchases.

Through various means, globalization has changed human lives around the world. In recent years we have seen the integration of societies and domestic economies grow. We have seen a shift in the way people live and work. It offers new opportunities for people, as well as new economic challenges. Future generations must understand how globalization can affect their lives.

How Long Should an Essay Introduction Be?

The length of your introduction should be proportional to the entire length of your essay. It shouldn’t be too long that it overwhelms your reader. But it shouldn’t be too short either that it fails to introduce your topic and argument clearly.

As a general rule, it’s best to keep the word count of essay introductions at 10% of the total essay word count. For example, if you have a 3000-word essay, you should write an introduction around 300 words long.

When writing a  globalization essay introduction , it’s important to be concise yet thorough. You need to provide readers with the main points of your essay while keeping it interesting and understandable. Hopefully, these introduction examples have inspired you to make your own. Good luck!

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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Module: Globalization, Trade and Finance

Reading: introduction to globalization, conceptualizing globalization.

Globalization is the process by which the world, previously isolated through physical and technological distance, becomes increasingly interconnected. It is manifested by the increase in interaction between peoples around the world that involves the sharing of ideas, cultures, goods, services and investment.

The last sixty years have witnessed a huge increase in globalization, but the phenomenon has been going on for much longer. Thomas Friedman describes the current trend as the third great wave of globalization in human history.

Globalization has brought fear of loss of jobs and loss of income, which are often described as the “race to the bottom,” as industrialized countries are thought to have to reduce wages to be competitive with those in the developing world. Globalization has also spawned fears about loss of culture. Many countries worry about their cultures being overwhelmed by that of the United States. France is a good example. Others fear replacement of their cultures by that of Western nations (e.g., some Islamic states). Countries also fear the loss of national sovereignty as they become part of supranational entitles, like the European Union or the International Monetary Fund. And yet, history shows that globalization has corresponded to higher national incomes and increased opportunities. How can these conflicting views be reconciled?

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• Globalisation Essay

Essay on Globalisation

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is connecting in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. 

Globalization began thousands of years ago when people and companies bought and sold in distant lands. In the Middle Ages, Central Asia was connected to China and Europe via the famous Silk Road. After World War II and the last two decades, governments of many countries have adopted free-market economies. They have greatly increased their own production potential and created countless new opportunities for international trade and investment. New routes and means to transport goods have been discovered, which has allowed the people to expand their business easily and efficiently. 

The government has reduced all trade barriers and concluded new international agreements to promote trade in goods, services and investment. This profitable action has created opportunities for international trade. In foreign markets, companies with these new opportunities set up new factories and establish production and marketing relationships with foreign partners. Hence, Globalization is defined as an international industrial and financial enterprise.

Overview of Globalization

Globalization means the assimilation of economics and societies through the flow of information, ideas, technologies, goods, services, capital, finance, and people. The real meaning of Globalization in a broad sense is connectivity in all aspects of human life. It is the process where the businesses or other organizations expand international authority or start operating on an international scale.

How the Existence of Globalization Came Into Being?

Globalization had started many thousands of years ago when people and corporations were buying and selling across lands at great distances. In the middle age, Central Asia connected with China and Europe through the famed Silk Road. After the Second World War II and during the last two decades, the governments of many countries have adopted free-market economic systems. They increased their own productive potential immensely and created innumerable new opportunities for international trade and investment.

The governments have reduced all barriers to commerce and established new international agreements to promote trade in goods, services and investments. These beneficial measures gave rise to opportunities for global trade. With these new opportunities in the foreign markets, corporations established new factories and started production and marketing alliances with foreign partners. Hence, Globalization is defined as an international industrial and financial business structure.

Advantages and Disadvantages

The frontiers of the state with increased confidence in the market economy and renewed policies in the private capital and resources, a process of structural adjustment spurred by the studies and with the support of the World Bank and other international organizations have started in many of the developing countries. Globalization has also brought in new opportunities to developing countries. Greater access to developed country markets and technology transfer has promised to improve their productivity and higher standards. 

At the same time, Globalization has also created challenges like growing inequality across and within nations, instability in the financial market and environmental deterioration. Globalization is a fascinating exhibition that can be understood as a global system of competition and connectivity. It has created tough competition among countries and global corporations.

Impact of Globalization in India

The British Colonial rule had destroyed the self-sufficient economy of India and left India to be the poorest Independent country. Our first Prime Minister gave preference to a mixed economy to boost the economic condition of the country. Public sectors were set up along with the private enterprises, but because of the socialistic model of the economy, the new strategy did not produce profitable results. Due to this, a number of public sectors became sick and the growth rates of production began to fall. 

During that time, the poverty of the people in India was increasing at an alarming rate and because of low domestic savings and acute balance of payment crisis, there was no adequate capital for investment. During that time of crisis, Prime Minister PV Narsimha Rao introduced the policy of liberalization, privatization to overcome the financial situation. 

India opened up to Globalization after the economic policy of 1991 came into force. Mounting debts and pressure from the International Monetary Fund drove the nation to go global. The process of Globalization has been an integral part of the recent economic growth of India. Globalization has played a very significant role in the growth of export, leading to the expansion of the job market in India. One of the major sectors of Globalization in India has been in the growth of outsourced IT and Business Process Outsourcing services. There has been an incredible increase in the number of skilled professionals in India employed by domestic and foreign companies to cater service to the customers globally, especially in the USA and Europe. 

There was not a doubt that Globalization in India brought a monumental change in the living standards of the people. People in India realized many benefits from Globalization. The establishment of multinational companies generating billions of jobs and access to umpteen numbers of brands and an increase in the forex reserves of the country took India to a higher platform globally. Despite this monumental change in the economy of the country, India also faced the challenges of severe competition from the foreign market and the domestic producers started fearing marginalization and pulverization because of the better quality products produced by the foreign producers.

Globalization had both desirable and undesirable consequences for India and the world. Even though it has accelerated progress in some countries, it has also widened the gap between the rich and the poor.

The impact of Globalization has been both positive and negative on the entire world, but we can surely hope for more advancement in the global economy due to this process.

FAQs on Globalisation Essay

1. How Did Globalization Help India to Improve the Economic Conditions?

Globalization generated umpteen employment opportunities for the people of India by establishing multinational companies. The policy of liberalization and privatization invited foreign traders to do business with India. This has increased the inflow of men, money, material, labor, technology, etc., from foreign countries to India. People have access to foreign brands and the living standards have improved drastically.

2. How is Globalization a Threat to Domestic Producers?

The domestic producers fear marginalization and pulverization because of the entry of foreign and better quality products.

3. What are the advantages and disadvantages of Globalization?

With increasing confidence in market economies and new policies on private capital and resources, many developing countries are beginning to adapt to developments with the support of the World Bank and other international institutions involved in research and development. Globalization also offers new opportunities for developing countries. Greater access to markets in developed countries and the transfer of technology will increase their productivity and demand.

At the same time, Globalization has created challenges such as increasing inequality between and within countries, instability of financial markets and environmental degradation. Globalization is an interesting exhibition that can also be seen as a system of competition and international relations. This has created intense competition between countries and international companies. 

4. What do you mean by Globalization?

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is a connectedness in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. Globalization has its own benefits and drawbacks. We can learn more about Globalization and how to write an essay on it in detail on the Vedantu website, which has all the necessary materials that students need in order to write an essay on Globalization. 

5. How can Globalization help India improve its economic situation?

In our present times, Globalization has been a boon to many people as it not only allows companies to expand their business but also makes things accessible for everyone. In a simple sense, we can say that it helps in connecting people with the world. Globalization has created many job opportunities in India through the creation of multinational companies. Policies of liberalization and privatization have encouraged foreign traders to trade with India. This has increased the number of people, money, materials, labor, technology and so on—inflows from abroad to India. People have access to foreign brands and the standard of living has improved significantly.

6. How does Globalization threaten domestic producers?

Domestic producers are afraid of marginalization and due to the entry of foreign and better quality products into the market. Globalization can be associated with increasing income and wealth inequality. Many of the world's poorest people lack access to basic technologies and public goods. They are excluded from treatment. Some critics of globalization point to the loss of economic and cultural diversity as international multinational giants and brands dominate domestic markets in many countries. Globalization can hinder competition if international companies with dominant brands and high technology gain a foothold in key markets, be it telecommunications, the automotive industry, and so on.

7. What are the main industries that have grown tremendously because of Globalization?

The integration of national economies into the global economy is one of the most important developments of the last century. This process of integration, often referred to as Globalization, has manifested itself in a tremendous increase in cross-border trade.

The outsourcing business has grown exponentially due to Globalization. The main industries resulting from Globalization are trade and commerce. Automobile companies, clothing manufacturers and transportation, are the three main industries taken over as a result of Globalization.

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Essay on Globalisation

List of essays on globalisation, essay on globalisation – definition, existence and impact (essay 1 – 250 words), essay on globalisation (essay 2 – 250 words), essay on globalisation – in india (essay 3 – 400 words), essay on globalisation – objectives, advantages, disadvantages and conclusion (essay 4 – 500 words), essay on globalisation – for school students (class 6,7,8,9 and 10) (essay 5 – 600 words), essay on globalisation (essay 6 – 750 words), essay on globalisation – for college and university students (essay 7 – 1000 words), essay on globalisation – for ias, civil services, ips, upsc and other competitive exams (essay 8 – 1500 words).

The worldwide integration of people, services and interests is what globalisation is all about. Since the last decade, there has been a tremendous focus on globalisation with everyone trying to have a reach at even the remotest locations of the world. This has probably been possible due to the advancement in technology and communication.

Audience: The below given essays are especially written for school, college and university students. Furthermore, those students preparing for IAS, IPS, UPSC, Civil Services and other competitive exams can also increase their knowledge by studying these essays.

The word ‘Globalization’ is often heard in the business world, in corporate meetings, in trade markets, at international conferences, in schools, colleges and many other places. So what does globalization symbolize? Is it a new concept or did it exist earlier? Let’s see.

Definition:

Globalization refers to the integration of the world nations by means of its people, goods, and services. The statement – ‘ globalization has made the world a small village ’ is very true.

Countries inviting foreign investment, free trade and relaxation in the visa rules to allow seamless movement of people from one country to another are all part of globalization.

In a nutshell, globalization has reduced the distance between nations and its people.

Many among us refer to the current period that we live in as ‘The Era of Globalization’ and think that the process of globalization has started only recently. But the real fact is that globalization is not a new phenomenon . The world was moving towards globalization from a very long time. The term globalization was in existence since mid-1980s. But it was only from the early 21 st century that globalization picked up momentum due to the advancements in technology and communication.

Impact of Globalization:

Globalization has more positive outcomes than the negative ones. The impact of globalization on the developing countries such as India, China and some African countries are overwhelming. Foreign investments have created a lot of employment opportunities in the developing countries and have boosted their economy. Globalization has also enabled people to interchange their knowledge and culture.

Conclusion:

Although the world is not completely globalized, we can very well say that globalization is the best way to achieve equality among nations.

In simple words, globalization means the spreading of a business, culture, or any technology on an international level. When the boundaries of countries and continents matter no more, and the whole world becomes one global village in itself. Globalization is an effort to reduce the geographical and political barriers for the smooth functioning of any business.

There are four main factors that form the four pillars of globalization. These are the free flow of goods, capitals, technology, and labors, all across the world. Although, many of the experts that support globalization clearly refuse to acknowledge the free flow of labor as their work culture.

The international phenomenon of global culture presents many implications and requires a specific environment to flourish. For instance, it needs the other countries to come to a mutual agreement in terms of political, cultural, and economic policies. There is greater sharing of ideas and knowledge and liberalization has gained a huge importance.

Undoubtedly, globalization helps in improving the economic growth rate of the developing countries . The advanced global policies also inspire businesses to work in a cost-effective way. As a result, the production quality is enhanced and employment opportunities are also rising in the domestic countries.

However, there are still some negative consequences of globalization that are yet to be dealt with. It leads to greater economic and socio-cultural disparities between the developed and the developing countries. Due to the MNC culture, the small-scale industries are losing their place in the market.

Exchanges and integration of social aspect of people along with their cultural and economic prospects is what we term as Globalization. It is considered as a relatively new term, which has been in discussion since the nineties.

Initial Steps towards Globalization:

India has been an exporter of various goods to other countries since the earlier times. Hence Globalization, for India, is not something new. However, it was only around in the early nineties that India opened up its economy for the world as it faced a major crisis of severe crunch of foreign exchange. Since then, there has been a major shift in the government’s strategies while dealing with the PSUs along with a reduction in the monopoly of the government organisations perfectly blended with the introduction of the private companies so as to achieve a sustainable growth and recognition across the world.

The Measurement of Success:

The success of such measures can be measured in the form of the GDP of India which hovered around 5.6% during the year 1990-91 and has been now around 8.9% during the first quarter of 2018-19. In fact, in the year 1996-97, it was said to have peaked up to as high as 77.8%. India’s global position is improved tremendously due to the steady growth in the GDP thus furthering the impact of globalization on India. As on date, India is ranked as the sixth biggest economy in the world. This globalization leading to the integration and trade has been instrumental in reducing the poverty rate as well.

However, given the fact that India is the second most populated country of the world, after China, this growth cannot be considered as sufficient enough as other countries such as China have increased their growth rates at much faster pace than India. For instance, the average flow of FDI in India, over the past few years has been around 0.5% of the GDP while for countries such as China it has been around 5% and Brazil has had a flow of around 5.5%. In fact, India is considered among the least globalized economy among the major countries.

Summarily, there has been a tremendous increase in the competition and interdependence that India faces due to Globalization, but a lot is yet to be done. It is not possible for a country to ignore the developments and globalization occurring in the rest of the world and one need to keep the pace of growth at a steady rate or else you may be left far behind.

The twentieth century witnessed a revolutionary global policy aiming to turn the entire globe into a single market. The motive of globalization can broadly define to bring substantial improvement in the living condition of people all around the world, education, and shelter to everybody, elimination of poverty, equal justice without any race or gender consideration, etc. Globalization also aims to lessen government involvement in various development activities, allowing more direct investors/peoples’ participation cutting across border restrictions thus expected to reap reasonable prosperity to human beings.

Main Objectives of Globalization:

The four main aspects of globalization are; Capital and Investment movements, Trade and Transactions, Education and Spread of knowledge, along with Migration and Unrestricted Movement of People.

In simpler terms, globalization visualizes that one can purchase and sell goods from any part of the world, communicate and interact with anyone, anywhere in the world and also enables cultural exchange among the global population. It is operational at three levels namely, economic globalization, cultural globalization, and political globalization. Right from its inception, the impact of globalization has both advantages and disadvantages worldwide.

Advantages of Globalization:

As the word itself suggests, this policy involves all the nations across the globe. The lifting of trade barriers can have a huge impact especially in developing countries. It augments the flow of technology, education, medicines, etc., to these countries which are a real blessing.

Globalization expects to create ample job opportunities as more and more companies can extend their presence to different parts of the world. Multinational companies can establish their presence in developing countries. Globalization gives educational aspirants from developing and underdeveloped countries more quality learning opportunities. It leads not only to the pursuit of best higher education but also to cultural and language exchanges.

Globalization also enhances a faster flow of information and quick transportation of goods and services. Moreover one can order any item from anywhere merely sitting at home. Another plus point of globalization is the diminishing cultural barriers between nations as it offers free access and cultural interactions . Also, it has been observed that there is a considerable reduction of poverty worldwide due to globalization . In addition to this, it also enables the effective use of resources.

Disadvantages of Globalization:

Globalization turned out to be a significant threat to the cottage and small-scale industries as they have to compete with the products of multi-national companies. Another dangerous effect of globalization is the condition of weak sections of the society, as they are getting poorer and the rich are getting richer. The situation leads to the domination of economically rich countries over emerging countries and the increase of disparity.

The actions of multi-national companies are deplorable and always facing criticism from various social, government and world bodies as they are incompetent in offering decent working conditions for the workers. Irrational tapping of natural resources which are instrumental in causing ecological imbalance is another major accusation against multi-national companies.

Globalization is also blamed to have paved the way for human trafficking, labor exploitation and spread of infectious diseases too. In addition to all these, if any economic disaster hit a country and if they subsequently suffer from economic depression, its ripples are felt deeply in other countries as well.

Despite all its disadvantages, globalization has transformed the entire globe into a single market irrespective of its region, religion, language, culture, and diversity differences. It also leads to an increase in demand for goods, which in turn calls for more production and industrialization. Our focus should be to minimize the risks and maximize the positive outcome of global policy, which in turn can help for a sustainable long-standing development for people all around the world.

Introduction:

Globalization is the procedure of global political, economic, as well as cultural incorporation of countries . It lets the producers and manufacturers of the goods or products to trade their goods internationally without any constraint.

The businessman fetches huge profit as they easily get low price workforce in developing nations with the concept of globalization. It offers a big prospect to the firms who wish to deal with the global market. Globalization assists any nation to contribute, set up or amalgamate businesses, capitalize on shares or equity, vending of services or products in any country.

How does the Globalization Work?

Globalization benefits the international market to the entire deliberate world like a solitary marketplace. Merchants are spreading their extents of trade by aiming world as a worldwide community. In the 1990s, there was a limit of importing some goods that were already mass-produced in India such as engineering goods, agricultural products, toiletries, food items, etc.

But, in the 1990s the rich countries pressurize the WTO (World Trade Organization), World Bank (affianced in improvement financing activities), and IMF (International Monetary Fund) to let other nations spread their trades by introducing market and trade in the deprived and emerging countries. The process of liberalization and globalization in India began in the year 1991 below the Union Finance Minister Mr. Manmohan Singh.

After numerous years, globalization has fetched major uprising inside the Indian marketplace when international brands arrived in India such as KFC, PepsiCo, Mc. Donald, Nokia, IBM, Aiwa, Ericsson, etc., and began the delivery of an extensive variety of quality goods at low-cost rates.

The entire leading brands presented actual uprising of globalization at this time as a marvellous improvement to the economy of an industrial sector. Rates of the quality goods were also getting low owing to the cut-throat war happening in the marketplace.

Liberalization and globalization of the businesses in the Indian marketplace is submerging the quality of imported goods but influencing the local Indian businesses badly in large part causing the job loss of illiterate and poor labors. Globalization has remained a goldmine for the customers, but it is also a burial ground for the small-scale manufacturers in India.

Positive Influences of Globalisation:

Globalization has influenced the education sectors and students of India predominantly by making accessible the education material and enormous info on the internet. Association of Indian universities with the overseas universities has fetched a massive modification in the education business.

The health industries are too influenced enormously by the globalization of health observing electronic apparatuses, conventional drugs, etc. The trade globalization in the agricultural sector has provided a range of high-quality seeds possessing disease-fighting property. But, it is not beneficial for the underprivileged Indian agriculturalists owing to the reason of expensive seeds as well as agricultural equipment.

Globalization has given an enormous rebellion to the occupation sector by increasing the growth of trades related to the handloom , cottage, artisans and carving, carpet, jewellery, ceramics, and glassware, etc.

Globalization is definitely required by the people and nation to progress and turn into an established society and country. It benefits in expanding our visualization and thoughts. It also aids in endorsing the philosophy that we fit in a huge crowd of persons, i.e., the humankind. Once the two nations congregate, they flourish by sharing their beliefs, thoughts, opinions, customs, and behaviors. People come to know new things and also acquire a chance to discover and get acquainted with other values.

Globalization has provided many reasonably priced valued goods and complete economic welfares to the emerging nations in addition to the employment. But, it has also given growth to the crime, competition, terrorism, anti-national activities, etc. Thus, along with the pleasure it has supplied some grief too.

Globalization is a term that we hear about every now and then. Question is; do we really know what it is all about? Globalization is defined as the process of integration and interaction among people, cultures and nations who come together in order to get things done easily through contact. Globalization began with the migration of people from Africa to different parts of the world. Global developments have been achieved in various sectors through the different types of globalization. The effects of globalization have been felt in every part of the world and more people continue to embrace it. Globalization has some of its core elements that help in the process.

Types of Globalization:

Globalization does not just transform a sector unless the strategies are related to that specific sector. The first type of globalization is financial and economic globalization whereby interaction takes place in the financial and economic sectors especially through stock market exchange and international trade. The other type is technological globalization which involves the integration and connection of different nations through technological methods like the internet. Political globalization transforms the politics of a nation through interactions with adoption of policies and government that cut across other nations. Cultural globalization is basically the interaction of people from different cultures and sharing. Ecological globalization is the viewing of the earth as one ecosystem and sociological globalization is on equality for all people.

Elements of Globalization:

Globalization works with characteristic elements. Trade agreements is one of the components that significantly benefits the economic and financial globalization. These trade agreements have been designed to promote and sustain globalization by preventing barriers that inhibit trade among nations or regions. Another element is capital flow that is concerned with the measures of either a decline or a rise in domestic or foreign assets. Migration patterns is a socio-economical and cultural element that monitors the impacts of immigration and emigration actively. The element of information transfer involves communications and maintains the functioning of the markets and economies. Spread of technology is an element of globalization that facilitates service exchanges. Without these elements, globalization would have faced many challenges, which would even stagnate the process of globalization.

Impacts of Globalization:

The impact of globalization is felt differently among individuals but the end result will be either positive or negative. Globalization has impacts on the lives of individuals, on the aspects of culture, religions and education. The positive impacts of globalization include the simplification of business management through efficiency. In business, the quality of goods and services has increased due to global competition. Foreign investment has been facilitated by globalization and the global market has been able to expand. Cultural growth has been experienced through intermingling and accommodation. Interdependence among nations has developed and more people have been exposed to the exchange program between nations. Improvement of human rights and legal matters has improved through media and technology sharing. Poverty has been alleviated in developing countries due to globalization and also employment opportunities are provided. Through technology, developments have been positively influenced in most parts of the world.

Although globalization has positive impacts, the negative impacts will remain constant unless solutions are sought. One of the negative effects of globalization is job insecurity for some people. Through globalization, more innovations are achieved, for e.g., technology causes automation and therefore people get replaced and they lack jobs. Another negative impact is the frequent fluctuation of prices of commodities that arises from global competitions. On the cultural side, the fast food sector has become wide spread globally, which is an unhealthy lifestyle that was adopted due to globalization. Also, Culture has been negatively affected for people in Africa because they tend to focus more on adopting the western culture and ignore their cultural practices.

Possible Solutions to the Negative Impacts of Globalization:

Globalization has impacted the society negatively and some of the solutions might help to mitigate the impacts. When adopting cultures from other people, it is important to be keen on the effects of the culture on the people and the existing culture being practiced. For example, Africans should not focus more of the western culture such that they ignore their own culture.

In conclusion, it is evident that globalization results in both negative and positive consequences. The society should embrace the positive and mitigate the negative impacts. Globalisation is a dynamic process which involves change, so flexibility among people is a must.

The buzzword befitted to describe the growth of Modern Indian economy is ‘Globalization’. But what exactly is Globalization? Globalization can be defined as integrating the economy of a country with the rest of the countries of the world. From the Indian perspective, this implies encouraging free trade policies, opening up our economy to foreign direct investment, removing constraints and obstacles to the entry of multinational corporations in India, also allowing Indian companies to set up joint ventures abroad, eliminating import restrictions, in-short encouraging Free Trade policies.

India opened its markets to Global Trade majorly during the early Nineties after a major economic crisis hit the country. New economic reforms were introduced in 1991 by then Prime Minister Shri. P V. Narasimha Rao and Finance Minister at the time, Dr. Manmohan Singh. In many ways, the new economic policies positively contributed to the implementation of the concept of Globalization in India.

It’s Impact:

1. Economic Impact :

Globalization in India targets to attract Multinational Companies and Institutions to approach Indian markets. India has a demography with a large workforce of young citizens who  are in need of jobs. Globalization has indeed left a major impact in the jobs sector. Indian companies are also expanding their business all over the world. They are driving funds from the bigwigs of the Global economy.

The Best example in today’s time is OYO Rooms, a budding Indian company in the hospitality sector. OYO Rooms recently made headlines when it declared to raise a fund close to $1 Billion from Japan’s Soft Bank Vision Fund. Globalization has also led the Indian Consumer market on the boom. The Giant of FMCG (fast-moving consumer goods) sector WALMART is also enthusiastic and actively investing in the India market.

2. Socio-Cultural impact on the Indian Society:

The world has become a smaller place, thanks to the social networking platforms blooming of the internet. India is a beautiful country which takes immense pride in “Unity in Diversity” as it is home to many different cultures and traditions. Globalization in India has left a lasting impression on the socio-cultural aspect of Indian society.

Food chains like McDonald’s are finding its way to the dining tables. With every passing day, Indians are indulging more and more in the Western culture and lifestyle. But Globalization in India has also provided a vibrant World platform for Indian Art, Music, Clothing, and Cuisine.

The psychological impact on a common Indian Man: The educated youth in India is developing a pictorial identity where they are integrating themselves with the fast-paced, technology-driven world and at the same time they are nurturing the deep roots of Indian Culture. Indians are fostering their Global identity through social media platforms and are actively interacting with the World community. They are more aware of burning issues like Climate Change, Net neutrality, and LGBT rights.

Advantages:

India has taken the Centre Stage amongst the Developing Nations because of its growing economy on the World Map. Globalization in India has brought tremendous change in the way India builds its National and International policies. It has created tremendous employment opportunities with increased compensations.

A large number of people are hired for Special Economic Zones (SEZs), Export Processing Zones (EPZs), etc., are set up across the country in which hundreds of people are hired. Developed western countries like USA and UK outsource their work to Indian companies as the cost of labour is cheap in India. This, in turn, creates more employment. This has resulted in a better standard of living across the demographic of young educated Indians. The Indian youth is definitely empowered in a big way.

Young lads below the age of 20 are now aspiring to become part of global organizations. Indian culture and morals are always strengthening their roots in modern world History as the world is now celebrating ‘International Yoga Day’ on 21st June every year. Globalization in India has led to a tremendous cash flow from Developed Nations in the Indian market. As a positive effect, India is witnessing the speedy completion of Metro projects across the country. Another spectacular example of newly constructed High-end Infrastructure in the country is the remarkable and thrilling ‘Chenani-Nashri Tunnel’, Longest Tunnel in India constructed in the State of Jammu and Kashmir. Globalization has greatly contributed in numerous ways to the development of Modern India.

Disadvantages:

As there are so many pros we cannot turn a blind eye to the cons of Globalization which are quite evident with the Indian perspective. The worst impact is seen in the environment across Indian cities due to heavy industrialization. Delhi, the capital of India has made headlines for the worst ever air pollution, which is increasing at an alarming rate.

India takes pride in calling itself an Agriculture oriented nation, but now Agriculture contributes to fragile 17% of the GDP. Globalization in India has been a major reason for the vulnerable condition of Indian Farmers and shrinking Agriculture sector. The intrusion of world players and import of food grains by the Indian Government has left minimal space for Indian farmers to trade their produce.

The impact of westernization has deeply kindled individualism and ‘Me factor’ and as a result, the look of an average Indian family has changed drastically where a Nuclear family is preferred over a traditional Joint family. The pervasive media and social networking platforms have deeply impacted the value system of our country where bigotry and homophobia are becoming an obvious threat.

One cannot clearly state that the impact of Globalization in India has been good or bad as both are quite evident. From the economic standpoint, Globalization has indeed brought a breath of fresh air to the aspirations of the Indian market. However, it is indeed a matter of deep concern when the Indian traditions and value system are at stake. India is one of the oldest civilizations and World trade has been the keystone of its History. Globalization must be practiced as a way towards development without compromising the Indian value system.

Globalisation can simply be defined as the process of integration and interaction between different people, corporations and also governments worldwide. Technology advancement which has in turn advanced means of communication and transportation has helped in the growth of globalisation. Globalisation has brought along with it an increase in international trade, culture and exchange of ideas. Globalisation is basically an economic process that involves integration and interaction that deals also with cultural and social aspects. Important features of globalisation, both modern and historically are diplomacy and conflicts.

In term of economy, globalisation involves services and goods, and the resources of technology, capital and data. The steamship, steam locomotive, container ship and jet engine are a few of the many technological advances in transportation while the inception of the telegraph and its babies, mobile phones and the internet portray technological advances in communications. These advancements have been contributing factors in the world of globalisation and they have led to interdependence of cultural and economic activities all over the world.

There are many theories regarding the origin of globalisation, some posit that the origin is in modern times while others say that it goes way back through history before adventures to the new world and the European discovery age. Some have even taken it further back to the third millennium. Globalisation on a large-scale began around the 1820s. Globalisation in its current meaning only started taking shape in the 1970s. There are four primary parts of globalisation, they are: transactions and trade, investments and capital movement, movement and migration of people and the circulation of knowledge and information. Globalization is subdivided into three: economic globalisation, political globalisation and cultural globalisation.

There are two primary forms of globalisation: Archaic and Modern Globalisations. Archaic globalisation is a period in the globalisation history from the period of the first civilisations until around the 1600s. Archaic globalisation is the interaction between states and communities and also how they were incepted by the spread by geography of social norms and ideas at different levels.

Archaic globalisation had three major requirements. First is the Eastern Origin idea, the second is distance, the third is all about regularity, stability and inter-dependency. The Silk Road and trade on it was a very important factor in archaic globalisation through the development of various civilisations from Persia, China, Arabia, Indian subcontinent and Europe birthing long distance economic and political relationships between them. Silk was the major item from China along the Silk Road; other goods such as sugar and salt were also traded.

Philosophies, different religious beliefs and varying technologies and also diseases also moved along the Silk Road route. Apart from economic trade, the Silk Road also was a means of cultural exchange among the various civilisations along its route. The cultural exchange was as a result of people’s movement including missionaries, refugees, craftsmen, robbers, artists and envoys, resulting in religions, languages, art and new technologies being exchanged.

Modern globalisation can be sub-divided into early modern and Modern. Early modern globalisation spans about 200 years of globalisation between 1600 and 1800. It is the period of cultural exchange and trade links increasing just before the modern globalisation of the late 19 th century. Early modern globalisation was characterised by Europeans empires’ maritime of the 16 th and 17 th centuries. The Spanish and Portuguese Empires were the first and then we had the British and Dutch Empires. The establishment of chartered companies (British East India Company and the Dutch East India Company) further developed world trade.

Modern Globalisation of the 19 th century was as a result of the famed Industrial Revolution. Railroads and steamships made both local and international transportation easier and a lot less expensive which helped improve economic exchange and movement of people all over the world, the transportation revolution happened between 1820 and 1850. A lot more nations have embraced global trade. Globalisation has been shaped decisively by the imperialism in Africa and in Asia around the 19 th century. Also, the ingenious invention in 1956 of the shipping container has really helped to quicken the advancement of globalisation.

The Bretton Woods conference agreement after the Second World War helped lay the groundwork for finance, international monetary policy and commerce and also the conception of many institutions that are supposed to help economic growth through lowering barriers to trade. From the 1970s, there has been a drop in the affordability of aviation to middle class people in countries that are developed. Also, around the 1990s, the cost of communication networks also drastically dropped thus lowering the cost of communicating between various countries. Communication has been a blessing such that much work can be done on a computer in different countries and the internet and other advanced means of communications has helped remove the boundary of distance and cost of having to travel and move from place to place just to get business done.

One other thing that became popular after the Second World War is student exchange programmes which help the involved students learn about, understand and tolerate another culture totally different from theirs, it also helps improve their language skills and also improve their social skills. Surveys have shown that the number of exchange students have increased by about nine times between 1963 and 2006.

Economic globalisation is differentiated from modern globalisation by the information exchange level, the method of handling global trade and expansionism.

Economic Globalisation:

Economic globalisation is just the ever increasing interdependence of economies of nations worldwide caused by the hike in movement across borders of goods, services, capital and technology. Economic globalisation is basically the means of increasing economic relationships between countries, giving rise to the birth of a single or global market. Based on the worldview, Economic globalisation can be seen as either a negative or positive thing.

Economic globalisation includes: Globalisation of production; which is getting services and goods from a source from very different locations all over the world to gain from the difference in quality and cost. There is globalisation of markets; which is the coming together of separate and different markets into one global market. Economic globalisation includes technology, industries, competition and corporations.

Globalisation today is all about less developed countries and economies receiving FDI (Foreign Direct Investment) from the more developed countries and economies, reduction in barriers to trade and to particular extent immigration.

Political Globalisation:

Political globalisation is going to on-the-long-run drop the need for separate nation or states. Institutions like the International Criminal court and WTO are beginning to replace individual nations in their functions and this could eventually lead to a union of all the nations of the world in a European Union style.

Non-governmental organisations have also helped in political globalisation by influencing laws and policies across borders and in different countries, including developmental efforts and humanitarian aid.

Political globalisation isn’t all good as some countries have chosen to embrace policies of isolation as a reactionary measure to globalisation. A typical example is the government of North Korea which makes it extremely difficult and hard for foreigners to even enter their country and monitor all of the activities of foreigners strictly if they allow them in. Citizens are not allowed to leave the country freely and aid workers are put under serious scrutiny and are not allowed in regions and places where the government does not want them to enter.

Intergovernmentalism is the treatment of national governments and states as the major basic factors for integration. Multi-level governance is the concept that there are many structures of authority interacting in the gradual emergence of political globalisation.

Cultural Globalisation:

Cultural globalisation is the transmission of values, ideas and meanings all over the world in a way that intensify and extend social relations. Cultural globalisation is known by the consumption of different cultures that have been propagated on the internet, international travel and culture media. The propagation of cultures helps individuals to engage in social relations which break regional boundaries. Cultural globalisation also includes the start of shared knowledge and norm which people can identify their cultures collectively; it helps foster relationships between different cultures and populations.

It can be argued that cultural globalisation distorts and harms cultural diversity. As one country’s culture is inputted into another country by the means of globalisation, the new culture becomes a threat to the cultural diversity of the receiving country.

Globalisation has made the world into one very small community where we all interact and relate, learn about other cultures and civilisations different from ours. Globalisation has helped improve the ease of doing business all around the world and has made the production of goods and services quite easy and affordable. Globalisation isn’t all good and rosy as it can be argued that Globalisation is just westernisation as most cultures and beliefs are being influenced by the western culture and belief and this harms cultural diversity. Nevertheless, the good of globalisation outweighs the bad so globalisation is actually a very good thing and has helped shape the world as we know it.

Economics , Globalisation

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Globalization: introduction, meaning, definition and history.

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Globalization: Introduction, Meaning, Definition and History!

There is no single globalization. There are several globalizations. Its avatar is plural, its processes are historical and its outcomes are varying. And, therefore, instead of calling it globalization, we should call it globalizations. Globalization, the world over, does not have a Cakewalk. Challenges given to it are by no means ordinary.

The legacy of this society goes back to the enlightenment era. It was during this era that we developed a modern social thought which believed that the universal community of humankind is in all respects the end of object of the highest moral Endeavour. Underlying this vision is an assumption that at root the needs and interests of all human beings are universally similar.

Such a vision has shaped the emancipatory aspirations of both liberalism and Marxism, which have been committed to the eradication of those structures – the state and capitalism respectively deemed to suppress the realization of a cosmopolitan world order based upon liberty, justice and equality for all of humanity.

Society is now changing so fast that globalization seems to be the only alternative for the world. Revolution in information technology and an ever-increasing role of mass media have strengthened the ideology put forward by enlightenment and modernity.

Moreover, ‘surface’ events, such as the end of cold war, the collapse of communism and the Soviet Union, the transition from industrialism to post-industrialism, the global diffusion of democratic institutions and practices, together with the intensification of patterns of worldwide economic, financial, technological and ecological interdependence, have all signalled to many observers the final clearing away of the old world order, with all its menacing features, and the inauguration of a new world order which contains the promise of an evolving world, society, a single global community of fate.

Certainly, there can be little doubt that the world is being re-made around us, that radical changes are under way which may be transforming the fundamental parameters of modern human, social and political existence.

There is always a fear that the nation-state would lose its identity and importance. And, who knows, the state itself would die. There is yet another fear that the gap between the rich and the poor would increase. It is also argued that globalization is nothing short of a cultural bombardment on the developing countries by the western modernity – capitalism, industrialism and the nation-state system.

And, the supporters of globalization – its intellectual lobby, keep on threatening as Fukuyama would say – there is end of history; there is no alternative to capitalism, since socialism has collapsed. And again, to quote a line of Bob Dylan: “You’d better start swimming, or you’ll sink like a stone.” Where is the alternative? Let us explore globalization from the perspective of sociology.

Globalization: Meaning and definitions :

Any discussion on globalization – its meaning and content – should necessarily begin with Roland Robertson, who could be said to be father of globalization. It was in the year 1990 that Mike Featherstone edited a book, Global Culture (Sage Publications, London) which appeared in the market.

Robertson had contributed an article, ‘Mapping the Global Condition: Globalization as the Central Concept’. It is here that Robertson for the first time explained the concept of globalization. He says in his introduction: “My primary aim in this discussion is with the analytical and empirical aspects of globalization.”

Surely, global culture is not the culture of a particular nation-state, say, U.S or Europe, the culture of a nation-state cannot be global culture because it is homogeneous and integrated. Global culture is, therefore, necessarily trans-societal culture which takes a variety of forms which have preceded the inter-state relations into which nation-states can be regarded as being embedded, and processes which sustain the exchange and flow of goods, people, information, knowledge and images which give rise to communication processes which gain sane autonomy on a global level. Robertson refers to political upheavals, which took place at the world level in the beginning of 1990. The shaking events, which took place in China, the U.S.S.R. and Europe, disturbed the traditional world order.

Robertson writes:

We have entered a phase of what appears to us in 1990s as great global uncertainty – so much so that the very idea of uncertainty promises to become globally institutionalized. Or to put it in a very different way, there is an eerie relationship between the ideas of postmodernism and post-modernity and the day-by-day geopolitical ‘earthquakes’ which we (the virtually global we) have recently experienced.

For Robertson, the beginning of the idea of globalization goes back to the global uncertainty of the relations between world nation- states. In his effort to define globalization, Robertson links it with modernity and post-modernity. He also mentions about the politics of the global human conditions.

I deal with globalization as a relatively recent phenomenon. In fact, I argue that it is intimately related to modernity and modernization, as well as to post-modernity and post-modernization… All that I am maintaining is that the concept of globalization per se should be applied to a particular series of developments concerning the concrete structuration of the world as a whole.

In other words, globalization is a comprehensive process, which includes both modernization and post-modernization. It would be wrong to say that the origin of globalization is from intra-societal relations. Nor is the origin from inter-state relations. Its making, according to Robertson, has been much more complex and culturally richer than that. It is inclusive of both modernity and post-modernity.

Robertson (1992) defines it as under:

I maintain that what has come to be called globalization is, in spite of differing conceptions of that theme, best understood as indicating the problem of the form in terms of which the world becomes united, but by no means integrated in naive functionalist mode.

Globalization as a topic is, in other words, a conceptual entry to the problem of world order in the most general sense – but, nevertheless, an entry which has no Cognitive purchase without considerable discussion of historical and comparative matters.

It is exciting to know that the International Sociology decided ill the year 2000 to bring out a special issue of the journal on ‘globalization’ for the practice of social science and also for the understanding of world issues.

The issue grew out of a multidisciplinary committee on global processes that was set up by the Swedish Council for the Planning and Coordination of Research. Consequently, a thematic research programme on globalization had also been made. The International Sociology has shown its concern for the world society as late as 2000.

Its guest editor for the June 2000 issue, Goran Therborn, has defined globalization as under:

In comparison with the preoccupations of the social sciences 100 years earlier, the current overriding interest in globalization means two things. First of all, a substitution of the global for the universal, a substitution of space for time…. In a sense, globalization may be interpreted as modernity’s flight into space.

This issue of International Sociology is concerned with the implications of globalizations as plural, historical, social processes both for the practice of social science and for the understanding of world issues.

What Therborn means by globalization is?

1. It is global; it replaces universal.

2. It is space, and replaces time.

3. It is modernity plus a flight into space.

4. It is plural, that is, globalizations.

5. It consists of several social processes.

5. It helps understand world issues.

Therborn has further elaborated the subject matter of globalization and includes in it five major topical discourses, namely:

(1) Competition economy;

(2) Socio-critical;

(3) State impotence in the face of world economy;

(4) Cultural; and

(5) Globe as a whole, i.e., a planetary eco-system. We shall discuss all these discourses on globalization at a later state.

Anthony Giddens has written extensively on modernization. He assumes importance in the discussion of globalization for the simple reason that for him globalization is the direct consequence of modernization. Robertson did not think this way. He did not link modernization with globalization. Giddens argues that each of the three main dynamics of modernization implies universalizing tendencies which render social relations even more inclusive.

They make possible global network of relationships (e.g., the system of international relations or the modern social system of capitalism), but they are also, for Giddens, more fundamental in extending the temporal and spatial distance of social relationships. Time-space distanciation, disembodying and reflexivity mean that complex relationships develop between local activities and interaction across distances. Giddens defines globalization in his book.

The Consequences of Modernity (1990) as under:

Globalization can thus be defined as the intensification of worldwide social relations, which links distant localities in such a way that local happenings are shared by events occurring many miles away and vice versa. This is a dialectical process because such local happenings may move in an obverse direction from the very distanciated relations that shape them. Local transformation is as much a part of globalization as the lateral extension of social connections across time and space.

What is particular about Giddens’ definition of globalization is that he links it with modernization. For him, modernization means a capitalist system, which is concerned with the commodity production, where there are social relations between the owners of private capital and non-owners who sell their labour for wages.

The second feature of modernity is industrialism, third is the nation-state, and finally, nation-state’s power to keep surveillance. All these features of modernity are involved in the process of globalization. He adds to these features the process of time-space distanciation as a prime ingredient of globalization. Malcolm Waters have done quite a helpful work on globalization in his book Globalization (1995). The book has come out after a serious ‘grinding’ by the author.

In this work, he has defined globalization as under:

We can therefore define globalization as a social process in which the constraints of geography on social and cultural arrangements recede and in which people become increasingly aware that they are receding. Actually, Waters, quite like Giddens, associates globalization with the wider social processes such as post-industrialization, post-modernization and the disorganization of capitalism. We have argued earlier that globalization has several aspects. Waters has dealt with three major theoretical assumptions or arenas of globalization.

These arenas give meaning and content to globalization:

1. The economy arena:

It includes social arrangements for the production, exchange, distribution and consumption of goods and tangible services.

2. The polity arena:

It includes social arrangements for the concentration and application of power, especially in so far as it involves the organized exchange of coercion and surveillance (military, police, etc.) as well as such institutionalized transformations of these practices as authority and diplomacy that can establish control over populations and territories.

3. The cultural arena:

It includes social arrangements for the production, exchange and expression of symbols that represent facts, affects, meanings, beliefs, preferences, tastes and values. Waters has tried to develop a theory of globalization. The main thrust of his theory is that globalization has relationship between social organization and territoriality.

The theorem of globalization in terms of theoretical paradigm as developed by Waters (1995) is as under:

In summary, the theorem that guides the argument of this book is that: material exchanges localize; political exchanges internationalize; symbolic exchanges globalize. It follows that the globalization of human society is contingent on the extent to which cultural arrangements are effective relatives to economic and political arrangements. We can expect the economy and the polity to be globalized to the extent that they are culturalized.

Thus, a broad survey of the definitions of globalization brings forth two major aspects. One is the economic context and the other is non-economic context. The non-economic context broadly includes socio-cultural, historical and political dimensions of globalization. Economic context of globalization seems to be stronger and louder.

The European Commission defined globalization as below:

Globalization is the process by which markets and productions in different countries are becoming increasingly interdependent due to dynamics of trade in goods and services and flows of capital and technology. However, the economic interpretation of the European Commission is contested by several authors, important among them is Thompson (1999). He argues that the nature of the internationalized world economy would be a non-timed nationally embedded capital.

Here, the principal private actors are the multinational corporations having a clear national base and working under the control of the home country, authorities. In contrast, the globalized world economy represents a new structure of disembodied economic relationships independent of national economics.

The definition of globalization which is contested by Thompson makes five important improvements:

(1) Private sectors in globalization are international and are independent of national economy;

(2) New markets and productions are independent;

(3) Global economy is controlled by neo-liberal regulations;

(4) Under globalization new world economic system has emerged, and

(5) The world economic system is transformed into capitalist system.

Actually, the world capitalist system has undergone several changes. The Marxist theory of capitalism, as an explanatory tool to analyze capitalism, has become irrelevant after the disintegration of Soviet Russia. In this context, the economic explanation of globalization has provided a new dynamic of capitalism known as ‘flexible accumulation’.

This capitalism has considerably altered the structure of global financial system, and with the computerization and communication, the significance of instantaneous international coordination of financial flows increased and intensified the reduction of spatial barriers (Harvey, 1989).

I. Wallerstein is a Marxist economist:

He has applied Marxian theory to the understanding of globalization. According to him, the existing integrated world capitalist economy dates back to the 16th century.

Wallerstein (1983) observed:

The transition from feudalism to capitalism involves first of all (first logically and first temporary) the creation of a world economy. This is to say, social division of labour was brought into being through the transformation of long-distance trade from a trade in ‘luxuries’ to a trade in ‘essentials’ or ‘bulk goods’ which tied together processes that were widely dispersed into long commodity chains. Such commodity chains were already there in the 16th century, and pre-dated anything that could meaningfully be called ‘national economics’.

Wallerstein says that the national economics got a shift during 20th century. It has ultimately resulted in the shift of capitalist world economy from its primary location in Europe to the entire globe. Wallerstein’s main argument in defining globalization revolves round capitalist system.

What he argues is that the capitalism, which was restricted to Europe, went beyond it and covered the whole world. Malcolm Waters questions Wallerstein’s economic model of globaliza­tion and argues that globalization does not end up in the proliferation of capitalism only. It also integrates political and cultural variables.

There is yet another perspective of globalization which does not put emphasis mainly on economic system of capitalism. This approach is best represented by Leslie Sklair in his book, Sociology of the Global System (1991). According to him, environmental processes can be analyzed not by inter-state relations but by transnational practices.

Sklair has defined transnational practices as those “that cross state boundaries but do not necessarily originate at the level of the state. The transnational corporation, the transnational capitalist class and the culture-ideology of consumerism that together constitute transnational practices, are the dominant institutions found in the economic, political and cultural domains respectively as the driving forces of globalization”.

What Sklair means by transnational practices is the amalgam of:

(1) Transnational corporations,

(2) Transnational capitalist class, and

(3) Consumerism.

In globalization, the global capitalist class is likely to operate from a nation-state, which has hegemony over other states. The U.S. seems to be such a hegemonic state which would guide and dominate the transnational practices in all the spheres of economic, political and cultural globalization.

Wallerstein talked about world economy, which has constituted global capitalism. Castells’ global economy is different from world economy. Manual Castells is the writer of the multi-volume book, The Information Age: Economy, Society and Culture: The Rise of the Network Society (1996). The book discusses elaborately the dynamics of information age.

At its core, the information age is the age of new technologies of information, processing and communication. “Information technology is to this revolution what new sources of energy were to the successive industrial revolution …. The technological innovations have been essentially market-driven. The economic process that accompanied the information technology revolution is both informational and global because, under new historical conditions, productivity is generated through and competition is played out in a global network of interaction.”

Castells has developed the theory of globalization around his concept of global economy.

His definition of global economy runs as under:

It is an economy with the capacity to work as a unit in real time on a plenary scale. Castells further explains global economy by saying that “it is capitalist in nature short of, however, a capitalist class structure”. Castells and other postmodernists who discuss globalization argue that in postmodern society classes have ceased to exist. According to them, postmodern capitalism is without class structure.

Castells (1996) writes:

There is not, sociologically and economically, such a thing as a global capitalist class. But there is an integrated global capital network whose movements and variable logic ultimately determine economics and influence societies. Castells further argues that the present capitalist societies are inherently based on information technology, which provides material basis for this society.

The United Nations Development Programme (UNDP) normally publishes Human Development Report on annual basis. It argues that globalization is not new. There was some kind of globalization in early 16th and the late 19th centuries. But, the present structure of globalization is totally different from its earlier versions.

The present globalization era consists of the following variables:

(1) New markets:

Foreign exchange and capital markets linked globally, operating 24 hours a day, with dealings at a distance in real time.

(2) New tools:

Internet links, cellular phones and media networks.

(3) New actors:

The World Trade Organization (WTO) with authority over national governments, the multinational corporations with more economic power than many states, the global networks of non-governmental organizations (NGOs) and other groups that transcend nation boundaries.

(4) New rules:

Multilateral agreements on trade, services and intellectual property, backed by strong enforcement mechanism and more binding for national governments, reducing the scope for national policy. There is also a brighter side to globalization. The Human Development Report says: “Global markets, global technology, global ideas and global solidarity can enrich the lives of people everywhere, greatly expanding their choices. The growing interdependence of people s lives calls for snared values and a snared commitment to the human development of all people.”

But the brighter side of globalization is not without its gloom. The same Human Development Report says: “Globalization expands the opportunities for unprecedented human advance for some but shrinks those opportunities for others and erodes human security. It is integrating economy, culture and governance but fragmenting societies. Driven by commercial market forces, globalization in this era seeks to promote economic efficiency, generate growth and yields profits. But it misses out on the goals of equity, poverty eradication and enhanced human security.”

The list of negative impacts of globalization is large indeed: “Gaps in income between poorest and richest people; and countries have continued to widen …. Furthermore, the new rules of globalization – privatization, liberalization and intellectual property rights – are shaping the path of technology, creating new risks of marginalization and vulnerability.”

Some of the other negative impacts of globalization include global crime in terms of illegal trafficking in weapons, cross-border terrorism, spread of HIV/AIDS, environmental degradation and fundamentalist movements as a part of assertion of local culture.

Body-Gendrot (2000) supports Human Development Report’s observations by empirical data and says that in Europe and America inequalities and associated problems of violence in cities have worsened under economic globalization.

A.K. Bagchi (1999) reports from India on the basis of field data that “globalization as a policy expression of neo-liberal regime has failed to improve macro-economic management and capacity in the region”.

It has also been observed that globalization driven by liberal economic policy in India has actually increased rural indebtedness, landlessness, food insecurity, child labour, casualisation of work, wage gaps between skilled and unskilled labour, and the incidence of social pathologies such as violence and intimidation even as global culture has brought in its wake some changes in the lifestyles of the non-poor.

Yet another economist, Michael Chossudovsky (1991) also reports about the negative impacts of globalization:

The overall impact of globalization has been a global crisis of which India and many other Asian and Eastern European countries have been made victims. The British authors Stuart Hall, David Held and Gregor McLennan consider globalization as a complex process which extends the scope of modernization.

According to them:

Modernization is a process which reaches back to the earliest stages of modernity and continues to shape and reshape politics, economics and culture at an accelerated pace and scale. The extension of globalizing processes operating through a variety of institutional dimensions (technological, organizational, administrative, cultural and legal), and their increased intensifications, within these spheres, creates new forms and limits within modernity as a distinctive form of life.

Anthony McGrew (1992) views globalization as a process, which operates at a global scale. He writes:

Globalization refers to those processes, operating at a global scale, which cut across national boundaries, integrating on connecting communities and organizations in space-time combinations, making the world in reality and in experience more interconnected.

Globalization implies a movement away from the classifiable sociological idea of a ‘society’ as a well-bounded system, and its replacement by a perspective which concentrates on “how social life is ordered across time and space”.

What McGrew means by globalization is?

(1) National identities are being eroded as a result of the growth of cultural homogenization and the global postmodernism.

(2) National and other ‘local’ or particularistic identities are being strengthened by the resistance to globalization.

(3) National identities are declining but new identities of hybridity are taking their place.

We have thus tried to define globalization at length in the above pages and in doing that we have, as far as possible, included all those scholars who have provided specific perspectives on globalization.

Globalization is a vast process taking place at a global scale. But recently, there are scholars who have developed some theories on globalization. The definitions of globalization also raise certain issues.

Some of the major themes which emerge from the definitions and meaning of globalization are put below:

(1) Building of a universal community of human kind. The objective goes with the assumption that the needs and interests of mankind dl over the world are similar. The vision of globalization as a world community would give liberty, justice and equality for all humanity.

(2) Globalization establishes linkages and interconnections that cut across the nation-states.

(3) Globalization involves a profound reordering of time and space in social life. Giddens refers to it as time-space distanciation or compression. Today, we have to learn how to cope with an overwhelming sense of compression of our spatial and temporal worlds. Harvey argues that there is need to speed up or intensify time-space compression. It is in this context that Harvey talks about ‘global village’.

(4) Capitalism occupies a central place in globalization.

(5) Globalization is associated with technological progress.

(6) Globalization is a product of political factors, in particular the existence of a permissive global order.

(7) The theory of globalization involves the analytical separation of the factors which have facilitated the shift towards a single world, e.g., the spread of capitalism, western imperialism and the development of a global media system.

(8) Globalization is interrelationship between the political, economic and cultural dimensions of social life.

(9) Globalization is dialectical having both positive and negative consequences.

It contains certain dualities or binary oppositions:

(i) Universalisation versus particularization;

(ii) Homogenization versus differentiation;

(iii) Integration versus fragmentation;

(iv) Centralization versus decentralization; and

(v) Juxtaposition versus syncretization.

(10) Globalization is the expansion of the world system.

(11) Globalization is a necessary accompaniment of modernity.

(12) Globalization is the creation of a single world market.

(13) Globalization is the consequence of modernity.

(14) Globalization is a modern myth.

(15) Globalization is a second modernity.

For some sociologists, globalization gives a danger signal. For instance, Ian Roxborough (2002) traces the appropriation of globalization concept by American military strategists. Roxborough argues that the end of cold war has raised the question of world hegemony. And, in this race for power, the U.S. has occupied a dominant position in the post-cold war world. After the disintegration of communism in Europe, globalization has come as a ready alternative. It has become a tool in the hands of U.S.

Roxborough writes:

Of all possible answers, globalization as a diagnosis of the new world order rapidly emerged as the winner, certainly in the rhetoric of the Washington Beltway. It seemed to explain the triumph of free market capitalism over state regulation, it offered a technological underpinning (the internet) for the changes, and, most notoriously articulated as the end of history (Fukuyama, 1992), it celebrated the victory of the USA in the cold war.

The concept of globalization provided a bridge between past (the cold war) and future by arguing that victory in the cold war had gone to the forces of free market democracies. And if the U.S. tames globalization, what would be the fate of developing countries?

History of globalization :

The history of globalization is not very old. It is quite recent. If postmodernism was the concept of the 1980s, globalization is the concept of the 1990s. And, interestingly, postmodernism despite its longer history is even today controversial, whereas globalization is not that much debatable.

Countries like U.S. and France have accepted globalization as their nation-state policy. The globalization issue of International Sociology (June 2000) traces the origin of the concept of globalization. It says that basically globalization is a concern of the second half of the 1990s, although, there were significant sociological contributions in the first half, such as lanni (1992) and Robertson (1992).

In the major dictionaries of English, French, Spanish and German of the 1980s or the first half of the 1990s, the word is not listed. In Arabic, at least four different words render the notion. Whereas in Japanese business the word goes back to the 1980s, it entered academic Chinese only in the mid-1990s.

The Social Citation Index records only a few occurrences of globalization in the 1980s, but shows its soaring popularity from 1992 onwards, which accelerated in the last years of the past century. While tracing the history of globalization, we must refer to the work of Anthony Giddens, namely. The Consequences of Modernity (1990).Giddens argues that post-modernity is not actually a break with modernity. The ‘radicalized’ or ‘high’ version of modernity is post-modernity.

And globalization, therefore, carries all the elements of modernity and post-modernity. In fact, when we discuss globalization, we discuss both modernity and post-modernity. However, Giddens makes a difference in modernity and globalization.

Modernity and post-modernity are often considered to be culturalistic while globalization is taken as an economic phenomenon. The difference between the three concepts, viz., modernity, post-modernity and globalization, is, therefore, only of emphasis. Basically, all the three deal with institutional forms of modern society.

Malcolm Waters has traced the history of globalization in his book, Globalization (1995). He says that the word ‘global’ has been in usage for about 400 years from now. But, it was not used in its technical connotation. The words ‘globalization, ‘globalize’ and ‘globalizing’ did not exist until about 1960.

The Economist (4/4/59) reported, “Italy’s globalized quota for imports of cars has been increased”; and in 1961 Webster became the first major dictionary to offer definitions of globalism and globalization. The Spectator (5/10/62) recognized that “globalization is, indeed, a staggering concept”. It also mentioned about globalism, globalization, globalize and globalized.

Robertson (2000) reports that the word ‘globalization’ was not recognized as academically significant until the early or possibly the mid-1980s, but thereafter its use has become well established. Although he says that its pattern of diffusion is virtually impossible to trace, it is beyond reasonable doubt that he is himself centrally responsible for its currency in sociology.

The many items he himself has published on the topic include what is possibly the first sociological article (1985) to include the word in its title although he had used the concept of ‘globality’ somewhat earlier. Waters (1995) says that after Robertson, the word ‘global’ has reached five figures in its use.

Waters further informs: “As at February 1994 the catalogue of the Library of Congress contains only 34 items with the term or one of its derivatives in the title.” None of these was published before 1987.

Robertson’s mapping of globalization history :

Robertson argues that the history of globalization is not new. In fact, globalization emerged before the coming of modernity. It came even before capitalism.

He has made a mapping of globalization in five major phases. They are discussed below:

Phase 1: The germinal phase (Europe, 1400-1750):

It was the beginning of international trade relations in Europe, churches were considered to be global, i.e., universal with the coming of enlightenment, the ideas about progress, humanism and individualism were becoming general and Gregorian Calendar had become common for all the western countries.

In short, globalization had begun in Europe during the period 1400-1750. The areas, which received the beginning of globalization include: Catholic Church, notions of justice and humanity, universal calendar, and global exploration and colonialism.

Phase 2: The incipient phase (Europe, 1750-1825):

There was a sharp shift towards the idea of the homogeneous, unitary state. Formal international relations began to take shape. The areas of life which received some kind of globalization include: emergence of nation-states, diplomatic relations between nation- states, international agreements, first non-European nations, and first ideas about internationalism and universalism.

Phase 3: The take-off phase (1875-1925) :

It was the period when the idea of acceptable national society came up. There appeared very sharp increase in the number and speed of global forms of communications. Development of global competitions, e.g., Olympics, Nobel Prizes, Implementation of World Time, First World War, and League of Nations etc. also took place.

During the take-off time, globalization took the form of conceptualization of the world in terms of the four globalizing reference points: the nation-state, the individual, a single international society, and a single (masculine) humanity.

Phase 4: The struggle for hegemony (1925-1969):

Disputes and wars about the fragile terms of the globalization process was established by the end of the take off period. Globe-wise international conflicts increased concerning forms of life. Nature of and prospects for humanity was sharply focused by holocaust, atomic bomb and United Nations.

Each nation-state in its own way struggled to establish its hegemony. The areas of hegemony include: League of Nations and United Nations, Second World War, cold war, conceptions of war crimes and crimes against humanity, and universal nuclear threat of the atomic bomb.

Phase 5: The uncertainty phase (1969-1992) :

There is heightening of global Consciousness in the world community. Also, there is an accentuation of post-materialist values and increase in global institutions and movements. Conceptions of individual are rendered more complex by gender, ethnic and racial considerations.

The uncertainty phase includes: exploration of space, post-materialist values, world communities, international relations, global environ­mental problems, and global mass media via space technology (satellite television, etc.).

Robertson is a serious analyst of globalization. Earlier, we have called him as the father of globalization. He is credited to have employed the term ‘globalization’ in its technical sense for the first time. In his book, Globalization (1992), he makes certain careful reservations about his argument.

The uncertainty phase is one in: which the world community itself is not certain about its future direction. Robertson claims that globalization is neither necessarily good nor a bad thing – its moral character will be accomplished by the inhabitants of the planet.

He is also not saying that the world is, as a consequence of globalization, a more integrated or harmonious place but merely that it is a more unified or systematic place. He means by this, that events in any part of the world will increasingly have consequences for, or will be referenced against events in other distant parts. This relativization may not always be positive. Indeed, the world as a system may well be driven by conflicts that are far more intractable than the previous disputes between nations.

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• Essay On Globalisation

Globalisation Essay

500+ words essay on globalisation.

Globalisation can be defined as a process of integration of the Indian economy with the world economy. Globalisation has been taking place for the past hundred years, but it has sped up enormously over the last half-century. It has increased the production and exchange of goods and services. Globalisation is a positive outcome of privatisation and liberalisation. Globalisation is primarily an economic process of interaction and integration associated with social and cultural aspects. It is said to be an outcome of different policies to transform the world towards greater interdependence and integration. To explain, in other words, Globalisation is a concept or method of interaction and union among people, corporations, and governments universally.

The top five types of globalisation are:

1. Cultural globalisation

2. Economic globalisation

3. Technological globalisation

4. Political globalisation

5. Financial globalisation

Impact of Globalisation on the Indian Economy

After urbanisation and globalisation, we can witness a drastic change in the Indian economy. The government-administered and established economic policies are imperative in planning income, investment, savings, and employment. These economic policies directly influence while framing the basic outline of the Indian economy.

Indian society is critically impacted by cross-culture due to globalisation, and it brought changes in different aspects of the country in terms of political, cultural, economic and social.

However, the main factor is economic unification which contributes maximum to a country’s economy into an international economy.

Advantages of Globalisation

Labour access: Due to globalisation, nations can now access a broader labour pool. If there is any shortage of knowledgeable workers in any developing nation, they can import labour from other countries. On the other hand, wealthier countries get an opportunity to outsource their low-skill work to developing nations with a low cost of living to reduce the cost of goods sold and move those savings to the customers.

High standard of living: After Globalisation, the Indian economy and the standard of living have increased. The change can be observed in the purchasing behaviour of an individual, especially those associated with foreign companies. Hence, most cities are upgraded with a better standard of living and business development.

Resource Access : The primary reason for trade is to gain access to the resources of other countries. It would have been impossible to produce or manufacture luxurious goods if the flow of resources across countries was not permissible—for example, Smartphones.

Impact of Globalisation

Globalisation in terms of economy is associated with the development of capitalism. The introduction of Globalisation has developed economic freedom and increased the living standard worldwide. It has also fastened up the process of offshoring and outsourcing. Due to outsourcing, transnational companies got an opportunity to exploit medium and small-sized enterprises intensively at a low price worldwide. As a kind of economic venture, outsourcing has increased, in recent times, because of the increase in quick methods of communication, especially the growth of information technology (IT).

Privatization of public utilities and goods, such as security, health, etc., are also impacted by Globalisation. Other goods, such as medicines or seeds, are considered economic goods and have been integrated into recent trade agreements.

This essay on Globalisation will help students to understand the concept more accurately. Students can also visit our BYJU’S website to get more CBSE Essays , question papers, sample papers, etc.

Frequently Asked Questions on Globalisation Essay

What are the benefits of globalisation.

Globalisation gives countries access to foreign cultures and technological innovation from more advanced countries. It provides improved living standards to people. The global exposure it gives has resulted in the emergence of new talent in multiple fields.

What are the main elements of globalisation?

Principle elements of globalisation are international trade, foreign investment, capital market flows, labour migration, and diffusion of technology.

What are the different types of globalisation?

Political, economic and cultural globalisation are the main types of globalisation.

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Globalization as a positive factor Essay

Introduction.

Globalization is defined as the integration of ideas, values and culture among different nations across the globe. People around the world share ideas in the different fields of practices such as technology and economy. Since the emergence of globalization, nations have realized its importance in the different spheres of life. It has facilitated the movement of people across the world and has made it easy for people to interact.

Through globalization, nations have been able to realize many benefits associated with the globalization of the economy. The essay therefore explains the importance of globalization, the economic impact on individuals and countries and how the international security system has been affected as well as the factors that have supported the growth of globalization.

Benefits of globalization

The introduction of globalization across the world has yielded many positive results that have helped in the development of individuals and nations. The benefits of globalization are therefore discussed as follows.

Due to globalization, many companies have been able to source employees for better productivity in the companies. This is because companies with employees from different backgrounds increase the productivity due to the pool of ideas.

Developed countries have been able to create employment opportunities for people from developing countries and this has given them an opportunity to explore the untapped resources in the developing countries hence being able to invest in the emerging markets (Shiva 2005, 1).

Increased competition

Due to globalization, producers have faced stiff competition in the market and this has contributed to easy accessibility of products and services at affordable prices. The stiff competition in the market has led to the production of high quality products and services since domestic companies have no option rather than producing quality goods and services for them to gain advantage in the market.

Individuals from different nations enjoy the variety of products and services in the market because companies are compelled to generate new products and services, which are unique for them to survive in the market.

This has therefore increased the living standards of people worldwide and improved the economy of countries since they do not spend a lot of their resource in achieving what they need if it can be acquired cheaply from other countries (The Economist 2011, 1).

Investment and capital flow

Many companies have invested in countries where there are opportunities hence increased their capital flow. Most developing countries have high chances of increasing their capital flow since they are able to invest in developing countries, which have resources but lack enough capital to explore them.

Globalization has given developed countries an edge to excel in the market due to improved technologies which many companies in developing countries lack and this has given them greater opportunities to invest (Shiva 2005, 1).

Foreign trade

Globalization has made foreign exchange easy among countries due to the agreement on how to operate the business. The set rules and regulations have given people opportunities to operate in different spheres of business without any panic as compared to ancient times when people could snick products to other countries.

This has again increased the living standards of individuals since they are able to acquire what they require without much strain and at cheaper prices as compared to the era when foreign trade was not legalized.

Foreign trade has therefore become friendly to all individuals even to the uncivilized since there are organizations like the World Trade Organizations (WTO), which unite them hence operating comfortably (International Monetary Fund 2000, 1).

Technological knowledge

Globalization has greatly contributed to the sharing of knowledge, which has led to the innovations among nations. Initially, the knowledge of technology and innovation was in the western countries but later spread to other countries, which has led to improved health facilities in developing countries. The political as well as the economic knowledge has developed better methods of agriculture hence increased productivity.

In the section of politics, most countries have achieved democracy, which has resulted to better economy in different nations since individuals are well informed about political matters. This has also made other countries to be more powerful since they are able to exert pressure on the political systems of other countries (Stiglitz 2008, 1).

Integration of culture

Through globalization, people have been able to become citizens of other countries due to search for employment or opportunities to invest. People of different backgrounds have different cultures and when they interact, they are forced to leave some of their beliefs and adopt new values from other culture, which are of benefit to the development.

Due to the free interaction between people of different cultures societies just like individuals have developed new cultures due to influence from other cultures and dropped their own which they feel are not of any value such as dressing styles, cooking styles and other values of culture like music and art (Romer 1986, 6).

Globalization has accelerated the growth of education across the world. Individuals are free to move from one country to another in search of the better forms of education to acquire the necessary knowledge and skills for the chosen career paths.

People are also able to carry out research on various projects in other countries to acquire the necessary knowledge to develop the home countries. For example, Japan is well known for efficiency and high quality and many countries send their people to learn there and apply the knowledge in their countries (Pankaj 2007, 6).

Legal and ethical effects

Before globalization, countries had hard times to prosecute the criminals because of the jurisdictions that existed among nations and criminals could therefore escape the law once they sought refuge in other countries. Due to globalizations, the problem has been solved through the introduction of the international courts of justices, which handle cases of such criminals by bringing them forward for the law to be imposed on them.

Countries have also been able to join hands together and fight against terrorism since there is mutual understanding between the security agencies. This has assisted to curb such cases of crimes hence creation of security (Ritzer 1993, 36).

Environmental and social concerns

Globalization has contributed to the formation of organizations that cater for the environment as well as the social activities. Nations have joined hands to form organizations, which monitor the climate and the environment such as UNEP (United Nations Environmental Programmed), and many other organizations, which have assisted in the reduction of production fluctuations in countries.

Globalization has therefore resulted to better resolutions across the globe in reference to technology, economy and culture. The effect of economic integration and globalization has created many changes in the face of individuals and countries.

For this aspect of economic integration to come to reality, technology has contributed in terms of communication and transportation for business to take place among the countries. Economic integration has contributed to the following benefits (Mulgan 1998, 46).

Creation of financial opportunities

Globalization has made many people realize their dreams in the businesses since they are able to acquire the financial support they need. Before the emergence of globalization, many companies were not able to access the funds they required to develop their businesses since they were limited to local sources for their capital but due to globalization, companies have been able to access money from other developed countries.

For instance, the World Bank is an international organization, which enables companies, and developing countries receive loans for developing at friendly rates (World Bank 1999, 1).

The small business enterprises are also able to access loans to develop their businesses since there are groups, which lend money to people at a non-profit rate, and individuals across the world are able to access them.

In the global economy, the companies can seek foreign investors from any country to invest in their businesses. This has increased the economy of countries as well as improving the living standards of individuals (IMF Issues Brief 2008, 1).

Language changes

Economic globalization has resulted to changes in language since people of different communities with different languages are involved in the business. Before the introduction of foreign trade, many people used to speak in their native languages since trade was done within their territories. Due to globalization, many people have learnt other foreign languages for easy communication.

This has therefore made some languages to be recognized as international like English, which is used as a professional language.

This has led to better ways of communication, which has facilitated unity among nations since people are able to understand one another and the appreciation of other languages that people never recognized. For instance, the Mandarin Chinese is a language that has become of interest among the Americans (Naim 2009, 1).

Cultural impact

Economic integration has created changes in the culture of different countries and communities. Through foreign trade, people have been able to buy new products from other countries, which are designed according to their cultures, and this has led to the appreciation of different cultures.

Many countries have adopted different cooking styles especially in developing countries’ hotels to be able to accommodate people from other developed countries whom they trade with like the Americans and the Japanese. This has therefore resulted to unity among the nations (Castells 2001, 45).

Commercial advances

Due to economic integration, many commercial advances have been realized in different countries. Through this integration, various products and consumer items have gained an edge in the market as compared to the ancient times before economic integration where people could not appreciate goods and other consumables from some foreign countries.

Companies like Coca Cola, Sony and many others have managed to manipulate themselves across the world. This has contributed to the popularity of some products, which were not recognized in some countries hence increased income that increases the economy of a country as well as improving the living standards of individuals (Foreign Policy 2002, 2).

Globalization is accepted by different political arenas due to its benefits to the members. Globalization has therefore been accepted and is likely to continue surviving due to the following factors.

Improved technology in communication and transportation

Due to improved technology in the field of communication and transportation, people have been able to communicate to each other and move across the world with easy.

Through the introduction of internets and phones across the world communication has been made easy that people from different geographical places can communicate as if they are talking face to face when making business deals. Through such devices, people are able to share ideas, which help them develop (Cogburn 1998, 2).

Improved technology in transportation has accelerated the growth of globalization since people from different countries are able to move from one place to another for conferences to discuss globalization issues. Improved transport has also enabled the movement of products from one country to another.

Governments have therefore helped in the realization of globalization by constructing airports and seaports for smooth running of businesses across the world since people are able to move from one country to another within the shortest period (Cha 2000, 3).

Economic liberalization has assisted in the growth of globalization by signing agreements, which enable individual and companies to trade.

Many nations have therefore signed policies like free trade agreements, accepted investors into their countries without any restriction and this has accelerate the rate of globalization growth. Through such treaties, countries have improved their economies and the living standards of the citizens (Bhagwati 2008, 1).

Through human migration

Countries have allowed free movement of people from one nation to another and this has led to the sharing of ideas, technology and cultural values.

Due to search of employment in foreign countries and opportunities for investment, people have been able to share the cultural values since they drop some of the values and adapt new ones to fit in the environment. Through such movements, people are able to improve on technological ideas that contribute to globalization (Giddens 1990, 56).

Through capitalism, individuals are able to pursue their own interest without restriction. For instance, when someone want to develop his/her career he or she is free to choose the institution, which has made it easy for people of different background mingle and stay as one family (Freidman 2005, 1).

Due to democracy, countries have been able to implement laws and regulations, which protect the interests of individual as well the right of the minorities in societies. Such laws have therefore led to the growth of globalization since individuals are able to exercise the authority for instance moving to a different country, or buying of products from other countries even if they are produced within the home country (Bhagwati 2011, 1).

Popular culture

The popularity of music, movies or actors has increased the change in cultural values since people listen to music or watch movies of different cultures, which has led to the appreciation of other people’s cultures. By appreciating a different culture, many people end up adapting it and this has led to globalization (Klein 1999, 1).

Globalization has become wide spread across the world since many individuals and countries are able to benefit. It has led to improved economic status of countries since they are able to export the products and services to receive money for developing their countries as well as reducing the cost of production through importation of the products.

Individuals have also improved their living standards through the creation of employment and easy way of accessing goods and services at a reduced price.

Bibliography

Bhagwati, Jagdish. 2011. Multinational corporations and development: Friends or foes. Web.

Bhagwati, Jagdish. 2008. “ Why the Critics of Globalization are Mistaken ” Handelsblatt . Web.

Castells, Michael. 2001. Information technology and global capitalism on the edge: Living with global capitalism, ed. W. Hutton and A. Giddens. London: Vintage.

Cha, Victor. 2000. Globalization and the study of international security. Journal of Peace Research 37: 391-403.

Cogburn, Douglas. 1998. “Globalization, knowledge, Education and Training in the Global World”, Conference Paper for the Info Ethics 98, UNESCO . Web.

Freidman, Thomas. 2005. “Wake Up and Face the Flat Earth,” YaleGlobal . Web.

Foreign Policy. 2002. ‘Globalization’s Last Hurrah? Foreign Policy . Web.

Giddens, Andrew. 1990. The consequences of modernity . Stanford: Stanford University Press.

IMF Issues Brief. 2008. “ Globalization: A Brief Overview ” IMF . Web.

International Monetary Fund 2000. Globalization: Threat or opportunity, International Monetary Fund .

Klein, Naomi. 1999. “ Rebels in Search of Rules ” New York Times . Web.

Mulgan, Glenn. 1998. Connexity: Responsibility, freedom, business and power in the new century (revised edition). London: Viking.

Naim, Moises. 2009. “Globalization,” Foreign Policy . 171: 28-34. Web.

Pankaj Ghemawat. 2007. Why the world isn’t flat. Foreign Policy 159: 54-60.

Ritzer, George. 1993. The mcdonaldization of society . Thousand Oaks: Forge Press.

Romer, Paul. 1986. Increasing returns and long-run growth. Journal of Political Economy 94: 1002-37.

Shiva, Vandana. 2005. “ The polarized world of globalization ”. Web.

Stiglitz, Joseph. 2008. Making globalization work: The 2006 Geary lecture. The Economic and Social Review 39: 171-190.

The Economist. 2011. A game of catch-up, special report : The World Economy 24, no. 9. Web.

World Bank. 1999. World Development Report 1998/99: Knowledge for Development. Washington: World Bank. 9. no. 8.

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