What is Globalization?

Globalization



Globalization is the mass unification of global trade and the global economy. Globalization is the reduction of previous international trade barriers: tariffs, export fees, and mandatory import quotas. Globalization is the process by which domestic economies, societies, and cultures have become interrelated through modern communication, mass transportation, and global trade capabilities.

Globalization’s ultimate goal is to increase global material wealth. Goods and services are measured by an international division of labor enhanced international relations, and healthy international competition.

Globalization is the mass integration of national economies into the total international economy through trade, direct foreign investment, capital flow, worker migration, and modern technology.

Factors that contribute to globalization are: economic, technological, socio cultural, political, and biological factors.

Globalization refers to the mass global transit of ideas, languages, or popular culture through the media. Any aspect/idea/mode of society which has gone through the above mentioned process is globalized. Opponents to globalization believe globalization has fundamentally decreased international relationships and increased domestic and international conflict.

Globalization is nothing new. People, corporations and businesses have been buying, trading and selling to each other over great distances since the beginning of time. For thousands of years, people, businesses and corporations have invested in other countries. The term globalization encompasses modern technology, trade and travel which in turn, generates fast and easy international trade. Thanks to the internet, markets are open twenty four hours seven days a week, all year long.

Those in favor of globalization believe that globalization enables developing countries to grow economically. Opponents of globalization argue that a global free market assists only huge multinational corporations in the west at the expense of small business, indigenous and ancient cultures, and the average worker.

International resistance to globalization has become a relevant issue in the west as governments and their people need to manage the labor, goods, money, the environment and ideas that encompass the 21st century ancient trend of globalization. We have become global but at what cost? The west has watched many jobs and entire industries become outsourced to less developed countries. They pay their workers much less and do not have strict environmental regulations. Again the big corporations benefit, and the mighty west is starting to suffer the effects of recession and mass unemployment together with higher costs of living. It will be interesting to see where globalization takes the world in the 21st century.

Experts are forecasting an eventual return to small local business as going green and domestic becomes the trend, and the thrill of buying cheaper items made by underpaid, underprivileged workers wears off.

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