GLOBALIZATION

What is the relevance of technology to the shaping of "globalization"?

What is the relevance of technology to the shaping of "globalization"?

Globalization

Globalization is defined by Jatuliaviciene & Kucinskiene (2006) in three different sections. First is the economic globalization which was affiliated with political globalization. Under the financial globalization, democratic, market-driven and open finances provide opportunities that will reply to the international challenges. It will be farther evolved through technological globalization wherein the fast diffusion of free enterprises is accelerated by means of accelerate expertise and new ways of communication. Indeed, new opportunities are vitally arrives from improvement in computer technology. And simultaneously, this economical, political and technological globalization starts another notion which is the psychological globalization. With psychological globalization, relationships between taking part nations are deepened, while at the same time, interdependence amidst persons from these countries is broadened.

Globalization in Twentieth Century

The article describes the growth of the international economy and discussion of Globalization has also focused upon the extent to which it is suitable to speak of a globalize economy. The creation of an International economic system was the outcomes of a series of procedures, which already established began with the spread of capitalist economic relations from Europe to other parts of the world. The worldwide trade that pursued particularly in the nineteenth century and transnational output in the twentieth was affiliated with the stepwise expansion of capitalism. The quality of "globalization" as a theoretical concept is much disputed. However there is a general idea, shared among numerous writers with various theoretical perspectives that globalization and fragmentation are salient themes of the twentieth century.

After taking into account the ideas behind globalization, Jan Erik Lane (2004), tackles the likely advantages and damages of globalization. Concisely, the affirmative evaluation of interdependence presumes international recognition of the interests of mankind in calm, human privileges and cultural integrity. Economically, it furthermore entails the possibility of greater yield for consumption. Furthermore, economic development will be accomplished through economies of scale and innovation of expertise will be started to conceive productive schemes for enterprise operations. However, in so far as how idealistic globalization is, its hazards to mankind are as very sensible as its advantages. Among the contradictory conclusions include power and environmental catastrophe, as well as, communal problems. Notionally, in pursuit for a geographical competitive benefit, a country sacrifices its ecological command to appeal pollution-intensive firms. That activity considerably leads to ecological damages that subsequent on could affect the whole humanity if left unsolved. In supplement, unequal distribution of conclusions enhances the discrepancy between poor and wealthy people. By taking benefit of cheap labor, workers stay underpaid and overworked.

Currently, the identified local blocs include European Union (EU), North America Free Trade Agreement (NAFTA), and East Asia Community. In the East Asian district, the two (2) premier intra-industry deals are the freshly industrialized finances (NIEs) and the East Asian financial Association (ASEAN). NIEs fundamentally comprise the newly industrialized economies in Asia such as Hong Kong, ceramic, republic of Korea, Singapore and Taipei, ...