Globalization Definition

Globalization Explanation with its Different Facets

Most of us would ask what globalization is. For globalization definition, it is the integration of countries around the globe. It involves people, companies and in many cases the government on the strategy of sharing goods, services, knowledge, ideas, and capital through communication, transportation, trade and investments. It’s split into four major aspects namely, economic, political, cultural and environmental.

In economic globalization, it concentrates on the integration of countries and its economic development. The increasing economic interdependence over the movement of merchandise, technology, service and capital resulted into one big global or world market. This element of globalization involves integration of productions, markets, industries and corporations. It has resulted to reduction of trade barriers thus resulting into modernization of less developed countries. Political globalization is seen as a the increasing quantity of human associations and it is increased energy that influences a lot of the governments on the planet. It is also characterized by the elevated surfacing of international non-governmental organizations that watches over other governments. The U . N . plays an important role in this element of globalization. For cultural globalization definition, it can be seen as an the hybridization of the culture knows as creolization. The procedure results in a lesser barrier that separates different cultures of several countries in one another. Additionally, it means a more harmonious along with a more integrated culture which enables an individual or a country to judge its culture, traditions and beliefs against the other. Environmental globalization opens our minds to environmental issues that are not only a national interest and also an international issue. Environmental issues have made huge effects in any part of the world and it’s also believed that a nation cannot solve it alone. Other areas of globalization which have great impacts around the world are: industrial – the emergence of big industrial and manufacturing companies that offers use of consumers from other countries on foreign products and goods; financial – the emergence of worldwide market that offers opportunities for foreign investments plus the exchange of stocks and currencies; and economy – provides job opportunities to workers from other countries and enable them to become globally competitive employees. This results into better wage and compensation.

The technology also plays an important role in globalization. The availability of info with the internet gives access to national and international facts and figures that can assist a person, an agency or perhaps a country become globally competitive. Globalization have their positive and negative effects. The positive globalization definition means smaller and fewer developed third world countries can become globally competitive and raise their way of life and capable to develop their economic status. Over the pessimistic, the huge players or multinational corporations can become richer and powerful from the expense of local companies, local cultures and common people. They key to a balance globalization is for every single people, companies, government or countries to totally know what globalization is, and to know how it works and the policies involved that will affect their lives. Analysis of issues and problems based on globalization can produce a big impact especially to developing countries.

globalization definition

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