Globalisation

Introduction:

Globalisation is a generalized term for a complicated series of economic, technological, social, cultural and political changes, seen as the ever- increasing interdependence and integration among people and companies in different locations. Such international links have existed for many centuries, but, having broadened, intensified, and changed the nature of these links many times; the modern world economy is unlike any previous international economy. Despite being in theory, in existence for centuries, the term globalisation' was first used in 1944, although its prominent use by economists commenced in the 1980's. Globalization can be broken down into separate aspects: Industrial globalization or transnationalization refers to the expansion and dominance of multinational organizations. Financial globalization is the emergence of worldwide financial markets and the increasing access to external financing for all levels of borrowers.

Examples:

People all around the world are more aware of other people, cultures and countries.

The production of goods and services happens in many countries - and often the making of one product may involve several countries.

Globally communications between countries happens much more quickly and easily due to the internet, the media, etc.

There are several corporations around the world that are based in many different countries - production may occur in one country, head office is in another, sales occur on another and so on(Steger Pp.56-70).

Why the situation occurs?

There are many reasons why globalisation occurs - it would be impossible to explain them all here but here are a couple of reasons

One reason the situation occurs is due to advances in transport and technology. It is now much easier to make goods and move them around the world . This means there are now many well-known global companies dealing in most countries around the world.

Also with the growth and advancement in information and communications technology people are more knowledgeable about other ...