what is globalization?

Answer 1

Globalization, or globalisation is the increasing interdependence, integration and interaction among people and corporations in disparate locations around the world. It is an umbrella term which refers to a complex of economic, trade, social, technological, cultural and political interrelationships. The term has been used as early as 1944, however Theodore Levitt is usually credited with its first use in an economic context.[1]

A typical - but restrictive - definition can be taken from the International Monetary Fund, which stresses the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, free international capital flows, and more rapid and widespread diffusion of technology.While being a complex and multifaceted array of phenomena, globalization can be broken down into separate aspects:

industrial globalization (alias trans nationalization) - rise and expansion of multinational enterprises
financial globalization - emergence of worldwide financial markets and better access to external financing for corporate, national and subnational borrowers
political globalization - spread of political sphere of interests to the regions and countries outside the neighborhood of political (state and non-state) actors
informational globalization - increase in information flows between geographically remote locations
cultural globalization - growth of cross-cultural contacts
globalism - connection between cultures, nations, and people, it embodies cultural diffusion, the desire to consume and enjoy foreign products and ideas, adopt new technology and practices, and participate in a "world culture". It is a universal, internationalist impulse that the world is connected.
globalist - someone who is aware of world issues, enjoys new ideas, and considers themselves global citizens with an open mind to both criticize and agree with others.

What is Globalization? -
http://www.sociology.emory.edu/globalization/issues01.html

http://www.sociology.emory.edu/globalization/issues01.html

Answer 2

Globalisation is simply the idea of making the whole world our oyster, allowing trade such that consumers get the products they want at the lowest possible price, and people work in the area they are collectively and relatively best at.

Pushed further, globalisation would entail not only the movement of goods and services on top of the movement of capital (that is free export and import of goods and services on top of free movement of funds), but also the free movement of people.

The end effect would then be that specific areas of the world would attract certain types of people, say computer geniuses in Sillicon Valley, lawyers in New York, Call centres in the Philippines.... All this owuld mean we would get the best service at the lowest price.

In real life however, trade is not free.

There are areas where the developed countries have decided that imports are to be made non-competitive. For example organic fuel tariffs in the US ensure that the cost to the consumer of Brazilian products is close to that of the US product even if the price the Brazilian exporter gets is much lower; tariffs make up the difference.

Farmers esepcially tend to be very protected. Witness the millions of subsidies that farmers in some countries in the EU recieve to keep them in business. The thing to remember is that the subsidies eventually come from the tax payer, sometimes even a tax payer in one country is subsidising the farmer in another.

What we end up with is a system whereby 'low level' tasks are sent out to developing nations where the standards of living are lower, hence the cost is lower.

This in itself is not bad.

However, the beauty of the system is that the final price the consumer pays does not generally decrease to reflect the lower costs. That savings due to the relocation is often transformed into higher bonuses for the top executives who had the guts to fire hundreds of workers at home, and a minute part goes to shareholders.

Furthermore, this process does not end there. In a few years, say as any tax breaks accorded by the recipient developing country lapse, the company just packs and goes somewhere else, leaving workers in the developing country this time stranded.

Another aspect of globalisation is the advantage that MNCs get. As part of trade liberalisation, developed countries demand that highly profitable sectors that ar enot that well developed in the developing countries are opened up, such as banking. Te point being that only sectors where the developed nations are at an advantage are opened, banking, and not agriculture.

The impact can be serious. Say a large banking MNCs get into a developing country, and simply, via better service, image... take the best consumers from the local banks. While previously local banks offered banking to all, 'subsidising' the poor via the profits from the rich, once the MNCs take the rich away, the poor can no longer be 'subsidised'. This can lead to a disenfranchisement of the poor from the banking sector which can have long term consequences in terms of domestic savings and investements in the developing country.

As a final note, globalisatin also encourages short term capital flows across the world. People no longer invest for the long term in factories for example, but to make a killing. The currency crisis in South East Asia was caused by speculative movements of funds; big investment houses selling say th eThai Baht caused the Baht to crash, destroying many people's livelihoods in Thailand. This was exacerbated by IMF recommendations to increase interest rates which drove many local businesses to bankruptcy. The key is that the invetsments were purely speculative. Not the type of investment and fund movements globalisation was supposed to bring.

In sum I'd say globalisation is a good idea, but the way it is executed, the biases and exploitation of people make is bad - except for the few at the top - at this point.

Answer 3

rocess by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world.

Factors that have contributed to globalization include increasingly sophisticated communications and transportation technologies and services, mass migration and the movement of peoples, a level of economic activity that has outgrown national markets through industrial combinations and commercial groupings that cross national frontiers, and international agreements that reduce the cost of doing business in foreign countries. Globalization offers huge potential profits to companies and nations but has been complicated by widely differing expectations, standards of living, cultures and values, and legal systems as well as unexpected global cause-and-effect linkages.

Answer 4

That is the agenda of world leaders and big figures, industrialist, economic engineers and other participants to unite all nations toward highly technological system adopting as policy uniformity in satisfying the demand of world market which is becoming highly innovative and exacting due to computerization or automation.
Those who passed the rigid requirement have their symbol along side with other members. Example is the gasoline synenergy , ranibow symbol of perfectionism, the 2 six in circle, thje bar code, to name a few.

Answer 5

Since Business majors are inferior people who get their jobs just because they are willing to humiliate themselves by going four years without a job, they are not competent enough to make a profit except by cheating workers out of an appropriate share of the revenue. So they have to seek the most desperate and slavish worker by betraying their own country and moving the businesses we built for them to sweatshop colonies.

Answer 6

When the globe become pone village. Boundryless!