GLOBALIZATION

“One cannot satisfactorily understand globalisation without an appreciation of the hierarchical nature of the global system.”

“One cannot satisfactorily understand globalisation without an appreciation of the hierarchical nature of the global system.”

Introduction

Globalization is the systematic and complete integration of international processes. Globalization inculcated many facets ranging from ideas, culture, products, world views etc. As a matter of fact, Globalization is the swapping of national and cultural resources. The idea of globalization removed the international boundaries, and the countries became the helping hands for each others. However, with the advancement of technology and infrastructure, and with the emergence of internet, the reliance among many countries is on full pelt. The process of global integrations is increasing with the passage of time. Technology is one of the significant components in the promotion of globalization. Technology, money, infrastructure, ideas, raw materials move at agile paces over several countries. However, as a result of this, the economies, laws and politics are strengthening their roots at an international level.

Globalization is all about the interdependence of many countries, in terms of economic and social activities. The nature of the global system has certain fundamental realities; however, these realities are the corner stone for the globalization. The hierarchy of the global systems is the foundation of the globalisation. As a matter of fact, the interdependence on one another began centuries ago; however, this idea is carried forward to subsequent higher levels, and finally ended up at the foreign trade. This hierarchy of the global system serves as the foundation for globalization. Hence, one cannot fully understand the concept of globalization without an acknowledgement of the hierarchical nature of the global system.

Discussion

Globalization

There are many views of the scholars pertaining to the idea of globalization. Many a scholars argue that the term usage of globalization took pace in the modern times; however, some trace its origins to the European phase of discoveries and the idea of a New World. What so ever, the idea of globalization is rising after 1980s and importantly after 1990s. According to The International Monetary Fund (IMF), there are four primary units of globalization including trade and transaction, capital and investment, migration and the dissipation of information. Furthermore, the concepts of climate change, cross boundary, pollution - including water and air pollution, sea territories have been associated with it. Globalization, as a matter of fact, has due influence over the multinational companies, cultural and economic resources, politics and the natural environment of the world (Scott & Storper, 2007, pp. 191-205).

The contemporary shape of the globalization, unlike conventional globalization, is the aftermath of the 19the century. The industrialization and standardized production of household items, with the fixation of economic theories using economies of scale shifted the paradigms of globalization. Imperialism of the 19th century provided grounds for the globalization to flourish. As a matter of fact, industrialization in the Europe, with the adoption of latest machinery and equipments, made the availability of products at a wide scale (Scott & Storper, 2007, ...