Abstract its pros and cons. The process

Abstract

 

Globalization is the process by which businesses or other organizations
develop international influence or start operating on an international scale.
It is the increasing interaction of people, states, or countries through
the growth of the international flow of money, ideas, and culture.
Globalization is primarily an economic process of integration that has social
and cultural aspects. It involves goods and services, and the economic
resources of capital, technology, and data. Globalization can thus be
defined as the intensification of worldwide social relations which
link distant localities in such a way that local happenings are shaped by
events occurring many miles away and vice versa. Globalization has different
classifications which includes, economic, political, technological and social
globalizations. Like every other thing in this world, globalization also has
its pros and cons. The process of globalization increases free trade and
communication among nations, along with the increase access to technology,
health care, education, media, consumer goods, and other resources are often
considered as the benefits or advantages of globalization. Whereas on the other
hand Globalization is having a dramatic effect for the good or ill on world
economies and on people’s life. Some of its negative aspects are that it has an
adverse effect on the local economies and the environments. It tends to exploit
the resources of developing countries. Globalization has led to the
exploitation of labor. Prisoners and child workers are used to work in inhuman
conditions. Safety standards are ignored to produce cheap goods. There is also
an increase in human trafficking. Globalization is like being overwhelmed by a
snow avalanche. You can’t stop it, you can only swim in the snow and hope to
stay on top. We can’t stop it but there are many things we can do to slow it
down to make it more equitable. What is good for third world countries or
countries with tremendous growth is that globalization is deindustrializing the
developed countries as they outsource both manufacturing white collar and
blue-collar jobs which has brought low priced imported goods.          

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Globalization

 

Globalization is the process by which businesses or other organizations
develop international influence or start operating on an international scale.
It is the increasing interaction of people, states, or countries through
the growth of the international flow of money, ideas, and culture.
Globalization is primarily an economic process of integration that has social
and cultural aspects. It involves goods and services, and the economic
resources of capital, technology, and data. The steam locomotive, steamship, jet engine, and container ships are some of the advances in the means of transport while the rise of the telegraph and its modern offspring, the Internet and mobile phones show development in telecommunications infrastructure. All of these improvements we enjoy in the
modern era have been major factors in globalization and have generated further interdependence of economic and cultural activities.

Though many scholars place the origins of globalization in modern times,
others trace its history long before the European Age
of Discovery and
voyages to the New World,
some even to the third millennium BC. Large-scale
globalization began in the 1820s. In
the late 19th century and early 20th century, the connectivity of the world’s
economies and cultures grew very quickly. The term globalization is recent, only
establishing its current meaning in the 1970s.

In 2000, the International Monetary Fund (IMF) identified four
basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of
people, and the dissemination of knowledge. Further,
environmental challenges such as global
warming, cross-boundary water, air
pollution, and over-fishing of the ocean are
linked with globalization. Globalizing
processes affect and are affected by business and work organization,
economics, socio-cultural resources, and the natural environment. Academic literature
commonly subdivides globalization into three major areas: economic globalization, cultural globalization, and political globalization.

Entomology
and usage

The term globalization derives from the word globalize, which refers to the
emergence of an international network of economic systems. One of the earliest
known usages of the term as a noun was in a 1930 publication entitled Towards New Education, where it
denoted a holistic view of human experience in education. Charles Taze Russell (of the Watch Tower Bible
and Tract Society) coined a related term, corporate giants, in 1897 to refer to the largely
national trusts and other large enterprises of the time. The term
‘globalization’ had been used in its economic sense at least as early as 1981,
and in other senses since at least as early as 1944. Theodore Levitt is
credited with popularizing the term and bringing it into the mainstream
business audience in the later half of the 1980’s. Since its inception, the
concept of globalization has inspired competing definitions and
interpretations. Its antecedents date back to the great movements of trade and empire across Asia and the Indian
Ocean from
the 15th century onward. Due
to the complexity of the concept, various research projects, articles, and
discussions often stay focused on a single aspect of globalization.

Sociologists Martin
Albrow and Elizabeth
King define
globalization as “all those processes by which the people of the world are
incorporated into a single world society.” In The Consequences of Modernity, Anthony
Giddens writes:
“Globalization can thus be defined as the intensification of worldwide social
relations which
link distant localities in such a way that local happenings are shaped by
events occurring many miles away and vice versa.” In 1992, Roland
Robertson, professor of sociology at the University of Aberdeen and an early writer
in the field, described globalization as “the compression of the world and
the intensification of the consciousness of the world as a whole.”

Types of Globalization

 

The major classifications
of the term globalization are discussed below.

Economic Globalization

Economic globalization is a worldwide economic
system that permits easy movement of goods, production, capital and services
for example European Union, NAFTA, South Korea korus and multinational
corporations.

Technological Globalization

Technological globalization is the connection
between the nations through technological means such as Television, radio,
telephone, internet etc. Technology was traditionally available to the rich but
now it is far more available to the poor. Much less infrastructure is needed
now.

Political Globalization

Countries are attempting to adopt similar political
policies and styles of government in order to facilitate other forms of
globalization. For example, move to secular governments, free trade agreements
etc.  

Cultural Globalization

Cultural globalization is referred as the merging of
international cultures like food, dress, music, language etc. It is said to be
the destructive of local culture. For example, a visible example of cultural
globalization is the induction of American fast food cuisine know as McDonalds
operating over then 36000 locations worldwide.

Ecological Globalization

Ecological globalization insists on seeing the earth
as a single ecosystem rather than a collection of separate ecological systems
because so many problems are global in nature. For example, international
treaties to deal with the environmental issues like biodiversity, climate
change or the ozone layer, wildlife reserves that span several countries.

 

Advantages
of Globalization

The process of globalization increases free trade
and communication among nations, along with the increase access to technology,
health care, education, media, consumer goods, and other resources are often
considered as the benefits or advantages of globalization. Globalization can
play a vital role to reduce international poverty. It adds to the distribution
of technology and maximize the profits for various different multinational
companies and corporations. It is because of globalization that nations are now
connected with very strong trade ties and are more inter dependent on each
other. Major motivation of moving abroad is to make use of the flexible labor
laws and to decrease the cost of manufacturing a certain good so that the productive
cost of a good or a service is decreased this leads to an increase in the
number of profits earned by a company or corporation. Labor can move country to
country to market their skills but this can cause problems with the existing
labor and downward pressure on the wages. Whereas the transnational companies
investing in installing new plants in other countries are providing new job
openings for the people of that country and often helping them from coming out
of poverty.

Disadvantages
of Globalization

 

Globalization is having a
dramatic effect for the good or ill on world economies and on people’s life.
Some of its negative aspects are that it has an adverse effect on the local
economies and the environments. It tends to exploit the resources of developing
countries. The rich is becoming more rich and the poor are becoming poorer as
the day goes on it is wonderful for the managers, investors and owners of the
multinational corporations but hell for its workers and labors. Large
multinational organizations have the ability to exploit tax heavens in order to
avoid taxes. Multinational corporations are often accused of social injustice
and unfair working conditions including slave labor wages and living and
working conditions, as well as lack of concern for the environment,
mismanagement of environmental resources and causing ecological damage.
Multinational corporations which were previously restricted to commercial
activities have started to influence the political decisions many think that
there is a threat that corporations will rule the world as they are gaining
power through globalization. The biggest problem for the developed countries is
that the jobs are lost and transferred to the low-cost countries. The
anti-globalist also claim that globalization is not working for the majority of
the world. According to the UN Development program report the richest 20% of
the worlds populations consumes 86 percent of the worlds resources and the
poorest 80 percent consumes just 14 percent of the resources. Globalization is
also leading to the incursion of the communicable diseases. Deadly diseases
like HIV/AIDS are being spread by the travelers to the remotest corners of the
globe. Globalization has led to the exploitation of labor. Prisoners and child
workers are used to work in inhuman conditions. Safety standards are ignored to
produce cheap goods. There is also an increase in human trafficking.

 

Conclusion

 

Globalization is like
being overwhelmed by a snow avalanche. You can’t stop it, you can only swim in
the snow and hope to stay on top. Globalization is an economic tsunami that is
sweeping the plant. We can’t stop it but there are many things we can do to
slow it down to make it more equitable. What is missing? Leadership – We need
politicians who are willing to confront the cheaters. Balanced Trade – Most of
our trading partners can balance their trade budgets and even run a surplus. We
have not made any policies to balance our trade budget and have run a trade
deficit for more than a decade. The trade deficit is the single biggest job
killer in our economy, particularly manufacturing jobs. We need the government
to develop a plan to begin to balance our trade deficit even though this is not
even a political priority. What is good for third world countries or countries
with tremendous growth is that globalization is deindustrializing the developed
countries as they outsource both manufacturing white collar and blue-collar
jobs which has brought low priced imported goods.           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

 

https://www.enotes.com/homework-help/list-advantages-disadvantages-globalization-list-113517

https://www.forbes.com/sites/mikecollins/2015/05/06/the-pros-and-cons-of-globalization/#3bd3f502ccce

https://www.google.com.pk/search?q=disadvantages+of+globalization&sourceid=chrome&ie=UTF-8

https://schoolworkhelper.net/types-of-globalization/

https://en.wikipedia.org/wiki/Globalization#References

 

 

 

 

 

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