Topic: Globalization

Abstract

Globalization is the rising trend of the worldwide amalgamation of economies and societies. It is not only a mere concept but has become a fact with time. We can comprehend it as a route through which people around the globe gather into a distinct society to work together. The process is an amalgamation of economic, industrial, social, cultural and political forces. But there are some positive as well as negative aspects of globalization some of which are discussed below.

As more capital is dispensed into developing countries, people get a chance to succeed economically and increase their standard of living. Global competition stirs more innovation while keeping a check on commodity prices. Governments can work efficiently towards mutual goals because of the improved ability to interact and organize, and majorly because of the awareness of global issues. Foreign culture can be easily accessed in the form of music, movies, attire, cuisines and more.

Outsourcing helps providing jobs in one country but perishes away opportunity from another country. This is one of the negative aspects of globalization. Another is that when cultures around the world interact, they get intermingled due to which their individuality begins to fade.

Table of Contents

Abstract2

Introduction4

The Concept of Globalization4

Trends of Globalization5

Positive Effects of Globalization6

Negative Effects of Globalization7

Conclusion10

References11

Introduction

The Concept of Globalization

Has ever a thought provoked in your mind that how come societies have become so developed over time? What makes the internet, technologies and languages so integral today? Why inflation rate has increased in economies and how most available resources aid to produce goods and services so proficiently?

The word globalization clearly refers to a process occurring at the world level. Since the end of the 1970s, significant changes have taken place in the operation and organization of the world economy. Economists have debated that the world economy is changing drastically, providing integral suggestions for its organization and functioning, but today we are still far from a truly globalized economy.

Although globalization is a comparatively new concept, it has already provoked all kinds of analyses and discussions. Globalization refers to the amplified interdependence of the world's economies enhanced by the circulation of information, people, culture, money, and goods across national boundaries. It has been realized by the growth, scope and incredible efficiency of financial capital. Amplified mobility of funds generated a need for various types of production. These new kinds of production range from the expansion of telecommunications to dedicated services which comprise as the key inputs of a global network of industries and financial markets (Murray, 2006). 

Trends of Globalization

Two trends at the economic level are significant. Both related to the growth of large multinational corporations, are significant. Firstly, investment and economic production processes are more portable. Companies are more likely to move around the globe, questing out for the most suitable circumstances for their operation. Moreover, they are much more likely to disperse their production processes geographically. The scope to which this is relevant certainly depends upon an array of factors, including the industry of operation and the size of the ...