Definition of globalization. Types of globalization. Advantage of globalization: Cultural impact of globalization.Economic impact of globalization. Disadvantages of Globalization
Definition of globalization. Types of globalization. Advantage of globalization: Cultural impact of globalization.Economic impact of globalization. Disadvantages of Globalization
globalization is undermining nation states. First, it is that it is empowering corporations at the expense of the nation state, and secondly, that the international institutions such
It does not make sense to talk of a world of 6 billion people becoming a monoculture. The spread of globalization will undoubtedly bring changes to the countries it reaches, but change is an essential part of life. It does not mean the abolition of traditional values.
As the WTO and World Bank are not democratic…. There is an issue of sheer size.
It is noted that many corporations are larger than nation states – more than half the 100 largest economies in the world are corporations.
Integration in the world economy contributes to environmental improvements by promoting growth, increasing incomes, improving property rights and the allowing the efficient use of resources.
This course introduces students by examining the multifaceted phenomenon of globalization. The focus on these issues is a multidimentional approach that integrates political, economic, historical geographical and sociological perspectives that created an increasing awareness of the interconnected- ness of peoples and places around the globe. The Contemporary World course is designed to provide students with an understanding of world events. To this end, the course provides an overview of the various debates in global governance, development, and sustainability. Beyond exposing the student to the world outside the Philippines, it seeks to inculcate a sense of global citizenship and global ethical responsibility.
Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Countries have built economic partnerships to facilitate these movements over many centuries. But the term gained popularity after the Cold War in the early 1990s, as these cooperative arrangements shaped modern everyday life.
According to WHO, globalization can be defined as ” the increased interconnectedness and interdependence of peoples and countries. It is generally understood to include two inter-related elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows.”
What Is Globalization in Geography?
In geography, globalization is defined as the set of processes (economic, social, cultural, technological, institutional) that contribute to the relationship between societies and individuals around the world. It is a progressive process by which exchanges and flows between different parts of the world are intensified.
Globalization is deeply connected with economic systems and markets, which, on their turn, impact and are impacted by social issues, cultural factors that are hard to overcome, regional specificities, timings of action and collaborative networks. All of this requires, on one hand, global consensus and cooperation, and on the other, country-specific solutions, apart from a good definition of the adjective “just”.
globalization is undermining nation states. First, it is that it is empowering corporations at the expense of the nation state, and secondly, that the international institutions such
It does not make sense to talk of a world of 6 billion people becoming a monoculture. The spread of globalization will undoubtedly bring changes to the countries it reaches, but change is an essential part of life. It does not mean the abolition of traditional values.
As the WTO and World Bank are not democratic…. There is an issue of sheer size.
It is noted that many corporations are larger than nation states – more than half the 100 largest economies in the world are corporations.
Integration in the world economy contributes to environmental improvements by promoting growth, increasing incomes, improving property rights and the allowing the efficient use of resources.
This course introduces students by examining the multifaceted phenomenon of globalization. The focus on these issues is a multidimentional approach that integrates political, economic, historical geographical and sociological perspectives that created an increasing awareness of the interconnected- ness of peoples and places around the globe. The Contemporary World course is designed to provide students with an understanding of world events. To this end, the course provides an overview of the various debates in global governance, development, and sustainability. Beyond exposing the student to the world outside the Philippines, it seeks to inculcate a sense of global citizenship and global ethical responsibility.
Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Countries have built economic partnerships to facilitate these movements over many centuries. But the term gained popularity after the Cold War in the early 1990s, as these cooperative arrangements shaped modern everyday life.
According to WHO, globalization can be defined as ” the increased interconnectedness and interdependence of peoples and countries. It is generally understood to include two inter-related elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows.”
What Is Globalization in Geography?
In geography, globalization is defined as the set of processes (economic, social, cultural, technological, institutional) that contribute to the relationship between societies and individuals around the world. It is a progressive process by which exchanges and flows between different parts of the world are intensified.
Globalization is deeply connected with economic systems and markets, which, on their turn, impact and are impacted by social issues, cultural factors that are hard to overcome, regional specificities, timings of action and collaborative networks. All of this requires, on one hand, global consensus and cooperation, and on the other, country-specific solutions, apart from a good definition of the adjective “just”.
Globalization Essay
Introduction Globalization
Essay on Cultural Globalization
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Essay on The History of Globalization
Essay On Globalisation
Advantages of Globalization Essay
Essay on Globalization Is Good
This ppt file contains complete information about galobalization and its very simple to present because its very relitive to the topic.
I present this to my class and got 10/10.
Its well designed and much easy to view the whole globalization .Its contains detaid information about globalization causes of globalization effects of globalization law of globalization and analysis of advantages and disadvantages of globalization.
I you pick this presentation you just need to change the name because it don't have unrelated constants.
Globalization Essay
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Advantages of Globalization Essay
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Essay on Cultural Globalization
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Essay on The History of Globalization
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Globalisation Essay
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Globalization
Impact Of Globalization
Running Head: GLOBALIZATION 1
GLOBALIZATION 11
Globalization
Student’s Name
Instructor’s Name
Course Title
Date
Introduction
In past few years globalization has been much discussed issue. In this essay, I would attempt to describe the meaning of word globalization along with I would evaluate the benefits as well as drawbacks of the global world. Globalization has altered the face of world. Apart from that, I would discuss major changes in the trade policies of globalization. And at last, I would evaluate the consequences for migration within the global world.
Globalization
Term ‘A Global Village’ has majorly been related to Marshall McLuhan (Baker, 2011). In its books he terms how world has contracted into single big village. Global Village is called as the effects about globalization, mass media along with information and communication technology. As per this philosopher and sociologist, there would be just major culture left within this world. Capability for somebody for gathering the information quite fast wherever they have been provides impression, which we live in similar virtual place, in similar village.
With increasing standards of world along with the present concepts as well as complexities within the political, economic along with the socio-cultural ideologies, man has often and regularly pondered on aspects about his nature. Unity, equality, trade as well as commerce have been at forefront of complexities of man.
Having those thoughts in mind, man has moved by history thus trying to satisfy its desires in regard to rest of the people. Advent of 21st century has given birth to concept about making world one village, therefore, globalization. World is getting smaller, has been the term utilized quite often for describing the nowadays world along with globalization. Economic growth has grasped majorly all the nations.
Globalization has been the process, which began to appear at finish of 19th century having the emergence of the industrialization. Products had been produced on the bigger scale having export being the target. Globalization has been the scenario through which economies, societies along with cultures have been interrelated. World has been made the smaller place; distances have been no longer the obstacle. Because of globalization borders within nations have been shortening (Jeffery, 2002).
Where word globalization has been used, we most of the time refer it to the economic globalization. Emergence of economic globalization has majorly because of creation of some international companies after the World War 2. Those companies focus to eliminate the borders among nations so as to facilitate trade along with communication within those nations, thus diminishing the chance of upcoming war. Advances within the technology resulted in the reductions within cost of the international trade. Several international companies tried to diminish barriers towards the international trade. Few essential changes are m.
Essay on Globalization
Globalization
Essay about Globalization and Localization
Globalization
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globalisation
Globalization (Term Paper)
An Introduction to Globalization Essay
Globalization Essay
An Overview of Globalization Essay
Globalization Essay
Global education and current trends from social abstract for the paperAmarwaha
The last century intense with a dream and aspirations and major social experiments has ended with general collapse of initiative for social transformation and total disillusionment with efforts of ‘development’ of the so called ‘developing’ nations. The so called victorious ideology-capitalism- has sought to consolidate its triumph with a call for ‘globalization’ for freeing of market, for unchecked hunting by private capital within and across nations with total disregard for the sovereignty rights of nations across the world. Globalization did not develop evenly: indeed, it was accompanied by inequality and conflict. The global development of economic and social relations has been paralleled by wide disparities between North and South.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
1. 1 | P a g e
Introduction
There are a lot of people are talking about globalization, many of whom have strong and often
conflicting views about the subject. Some authors see globalization as a rather positive thing in
the meaning of the consumer society and benefit to shoppers of more things to buy and services
to get in Western world. Other authors and many non-governmental organizations like Third
World Network are much more critical, seeing globalization as colonization of the developing
world. Globalization is seen as complicated processes, focusing on how events, decisions and
activities in one part of the world can have consequences in other parts of the world.
What is globalization?
Globalization is difficult to define. Globalization scholars regularly debate what is actually
meant by the term. However, most agree on two things:
1. globalization is happening
2. globalization is a process of increasing
Globalization is a process of interaction and integration among the people, companies, and
governments of different nations, a process driven by international trade and investment and
aided by information technology. This process has effects on the environment, on culture, on
political systems, on economic development and prosperity, and on human physical well-being
in societies around the world.
Globalization is not new, though. For thousands of years, people—and, later, corporations—have
been buying from and selling to each other in lands at great distances, such as through the famed
Silk Road across Central Asia that connected China and Europe during the Middle Ages.
Likewise, for centuries, people and corporations have invested in enterprises in other countries.
In fact, many of the features of the current wave of globalization are similar to those prevailing
before the outbreak of the First World War in 1914
Globalization is a process that comprises two simultaneous processes: global compression of the
world and the intensification of consciousness of the world as a whole. Globalization does not
simply refer to the objective process of increasing interconnectedness. It also refers to conscious
and subjective matters (namely the scope and density of the consciousness of the world as a
single place
Globalization cannot be reduced to the impact of round-the-clock round-the-globe, of leading
edge information technologies, of integrated world markets. But globalization can be given a
much wider meaning - one that emphasizes the impact of global tradition. environment changes,
the threat of social and political conflicts that cannot be walled off by tough immigration or
asylum policies or policed by superpowers, and the growth of hybrid world cultures created by
the mingling of global-brand culture and indigenous
From the above discussion we can say that,
Globalization is increasing interdependence of national economies in trade, finance, and
macroeconomic policy.
2. 2 | P a g e
Globalization is diffusion of practices, values and technology that have an influence on
people`s lives worldwide.
Globalization is a process fueled by and resulting in, increasing cross- border flows of
goods, services, money, people, information, and culture.
Globalization as a development in the structure of geography is closely interrelated with
concurrent developments in structures of production, governance, identity and
knowledge.
According to Oxford English Dictionary (OED)
Globalization is “the act of globalizing“; from the noun “global“ meaning “pertaining to
or involving the whole world“, “worldwide“; “universal“
According to International Forum on Globalization (IFG)
“Globalization is the present worldwide drive toward a globalized economic system
dominated by supranational corporate trade and banking institutions that are not accountable to
democratic processes or national governments“
According to World Trade Organization (WTO) Director-General, Pascal Lamy
“Globalization can be defined as a historical stage of accelerated expansion of market
capitalism, like the one experienced in the 19th century with the industrial revolution. It is a
fundamental transformation in societies because of the recent technological revolution which has
led to a recombining of the economic and social forces on a new territorial dimension“
According to the World Bank
“Globalization - the growing integration of economies and societies around the world“
According to World Health Organization
“Globalization, or the increased interconnectedness and interdependence of people and
countries, is generally understood to include two interrelated elements: the opening of borders to
increasingly fast flows of goods, services, finance, people and ideas across international borders;
and the changes in institutional and policy regimes at the international and national levels that
facilitate or promote such flows. It is recognized that globalization has both positive and
negative impacts on development“
Types of globalization
There are different types of globalization. They are given below
01. Political globalization
Political globalization refers to the amount of political co-operation that exists between
different countries. These ties in with the belief that “umbrella” global organizations are better
placed than individual states to prevent conflict. The League of Nations established after WW1
was certainly one of the pioneers in this. Since then, global organizations such as the World
Trade Organization (WTO), United Nations (UN), and more regional organizations such as the
EU have helped to increase the degree of political globalization.
3. 3 | P a g e
02. Social globalization
Social globalization refers to the sharing of ideas and information between and through
different countries. In today’s world, the Internet and social media is at the heart of this. Good
examples of social globalization could include internationally popular films, books and TV
series. The Harry Potter/ Twilight films and books have been successful all over the world,
making the characters featured globally recognizable. However, this cultural flow tends to flow
from the center (i.e. from developed countries such as the USA to less developed countries).
Social globalization is often criticized for eroding cultural differences.
03. Economic globalization
Economic globalization refers to the interconnectedness of economies through trade and
the exchange of resources. Effectively, therefore, no national economy really operates in
isolation, which means national economies influence each other. This is clearly evidenced by
global recession from 2007 onwards. Economic globalization also means that there is a two-way
structure for technologies and resources. For example countries like the USA will sell their
technologies to countries, which lack these, and natural resources from developing countries are
sold to the developed countries that need them.
04. Market Globalization
This type of globalization involves merging of formerly separate and independent
national markets into a global one. This renders it meaningless to refer to markets of individual
countries. Market globalization facilitates international trade as it enhances the removal of trade
barriers. The respective tastes of consumers from different parts of the world are homogenized to
form global standards, which enable them to receive the same products from different
companies. Globalization of markets also leads to stiffer competition as businesses compete for
customers from different parts of the world.
05. Production Globalization
This type of globalization makes it possible for companies to source for goods and
services from different parts of the world. This helps them to take advantage of differences in
quality, cost and the performance of things like raw materials, land, capital and labor. Companies
have a better chance of increasing both volume and quality while they lower their costs at the
same time. Companies become more competitive as they develop their respective international
production networks. Closely related to this is the globalization of products that comes into play
due to the constant need of ever-newer products, which are made available to consumers from
different parts of the world
06. Cultural Globalization:
Culture has increasingly become a commodity. Popular books and films have
international markets. Harry Potter has readers almost all over the world. English movies are
seen almost in all countries. Western pop music has become popular in developing countries.
The reverse flow of culture is in significant. The flow of culture is mainly from the North to the
South. In the last few years the media owners of the West have shown interest in entering
developing countries
Effects of Globalization
Globalization has brought benefits in developed countries as well as negative effects.
4. 4 | P a g e
Positive Effects
It would be rather difficult to discuss the extent of the positives that globalization has had
on the world at large. But still, here are some of the positive effects of globalization and the
positive impacts they have had on so many demographic segments of society.
01. Global market.
Most successful emerging markets in developed countries are a result of
privatization of state owned industries. In order for these industries to increase consumer demand
many of them are attempting to expand and extend their value chain to an international level.
The impact of globalization on business management is seen by the sudden increase of number
of transactions across the borders. In protecting yields and maintaining competitiveness,
businesses are continuing to develop a wide range of their footprint as it lowers cost and enjoys
economies of scale. Multinational corporations are a result of globalization. They occupy a
central role within the process of globalization as evidenced through global foreign direct
investment inflows. Their concentrations within Europe in western economies has led to size
constraints, therefore there is a need for new geographical areas to operate whereby they will
face a lot of competition in the market. Through this they will enlarge their market and enjoy
economies of scale as globalization facilitates time space compression, economies compete at all
levels including that of attracting investors
02. Cross-cultural management
Globalization tends to be the realm of elite because in many parts of the world
they are the only people who are affluent enough to buy many of the products available in the
global marketplace. Highly educated and wealthy people from different backgrounds interact
within a westernized milieu. Western styles, since are symbols of affluence and power, the elite
often embraces western styles of products and pattern of behavior in order to impress others.
Today Western culture and patterns of behavior and language are staples of international
business.
03. Foreign trade
Globalization has created and expanded foreign trade in the world. Things that
were only found in developed countries can now be found in other countries across the world.
People can now get whatever they want and from any country. Through this developed countries
can export their goods to other countries. Countries do business through international trade,
whereby they import and export goods across the global. These countries which export goods get
comparative advantages. Organizations have been established with a view to control and regulate
the trade activities of the countries in the world so to have fair trade. World trade organizations
emerged as a powerful international organization capable effectively influencing individual
governments to follow international trade rules, copyrights, policies on subsidies, taxes and
tariffs. Nations cannot break rules without facing economic consequences
04. Resource Imperative
Developed countries need natural and human resources of the developing
countries while developing countries need capital, technology and brainpower of the wealthier
countries. Developed countries' economies are increasingly dependent on the natural and human
resources of the developing nations. Growing interdependence of nations and their activities on
one another fostered by the depletion of natural resources; as well as overpopulation.
05. Foreign investment
One of the most visible positive effects of globalization in India is the flow of
foreign capital. A lot of companies have directly invested in India, by starting production units in
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India, but what we also need to see is the amount of Foreign Investment Inflow that flows into
the developing countries. Indian companies which have been performing well, both in India and
off the shores, will attract a lot of foreign investment, and thus pushes up the reserve of foreign
exchange available in India. This is also one of the positive effects of globalization in US and
other developed countries as developing countries give them a good investment proposition.
06. Competition
One of the most visible positive effects of globalization is the improved quality of
products due to globe competition. Customer service and the 'customer is the king' approaches to
production have led to improved quality of products and services. As the domestic companies
have to fight out foreign competition, they are compelled to raise their standards and customer
satisfaction levels in order to survive in the market. Besides, when a global brand enters a new
country, it comes in riding on some goodwill, which it has to live up to. This creates competition
in the market and a survival of the fittest situation.
07. Culture
The positive effects of globalization on culture are many! Not all good practices
were born in one civilization. The world that we live in today is a result of several cultures
coming together. People of one culture, if receptive, tend to see the flaws in their culture and
pick up the culture which is more correct or in tune with the times. Societies have become larger
as they have welcomed people of other civilizations and backgrounds and created a whole new
culture of their own. Cooking styles, languages and customs have spread all due to globalization.
The same can be said about movies, musical styles and other art forms. They too have moved
from one country to another, leaving an impression on a culture which has adopted them.
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Negative Effects
Globalization also has its side effects to the developed nations. These include some
factors which are jobs insecurity, fluctuation in prices, terrorism, fluctuation in currency, capital
flows and so on.
01. Jobs insecurity.
In developed countries people have jobs insecurity. People are losing their jobs.
Developed nations have outsourced manufacturing and white collar jobs. That means less jobs
for their people. This is because the manufacturing work is outsourced to countries where the
costs of manufacturing goods and wages are lower than in their countries. They have outsourced
to developing countries like China and India. Most people like accountants, programmers,
editors and scientists have lost jobs due to outsourcing to cheaper locations like India.
Globalization has led to exploitation of labor. Safety standards are ignored to produce cheap
goods. "In practice, however, the recent experience in Latin America has been that many such
open-handed multinationals moved their operations to, for example, China or South East Asia
because of cost and market considerations"
02. Fluctuation in prices
Globalization has led to fluctuation in price. Due to increase in competition,
developed countries are forced to lower down their prices for their products, this is because other
countries like China produce goods at a lower cost that makes goods to be cheaper than the ones
produced in developed countries. So, in order for the developed countries to maintain their
customers they are forced to reduce prices of their goods. This is a disadvantage to them because
it reduces the ability to sustain social welfare in their countries.
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03. Unemployment
Globalization is blame to world's unemployment situation though it brought some
jobs opportunities. Despite the fact that it brought jobs opportunities to the global but it is still
blame to the current situation. "It’s true that global economic integration and increased travel
have resulted in increased competitiveness at the national and enterprise levels, forcing
producers to find ways to cut costs, improve efficiency, and raise productivity"
04. Spread of fast foods chain.
Fast foods chain is growing very fast. But some of the most rapid growth is
occurring in the developing countries; where it's real changing the way people eat. "Kentucky
Fried Chicken (KFC) is the largest, fastest growing and highest potential units"
05. Western culture.
Globalization has led to the spread of western culture and influence at the expense
of local culture in developing countries like Africa. Most people now in developing countries
cop what people in developed countries do. So, it’s like they ignore their own culture and
practice western culture.
Advantages and Disadvantages of Globalization
Some of the benefits of globalization include:
01. Foreign Direct Investment
Foreign direct investment (“FDI”) tends to increase at a much greater rate that the
growth in world trade, helping boost technology transfers, industrial restructuring, and the
growth of global companies.
02. Technological Innovation
Increased competition from globalization helps stimulate new technology development,
particularly with the growth in FDI, which helps improve economic output by making processes
more efficient.
03. Economies of Scale
Globalization enables large companies to realize economies of scale that reduce costs
and prices, which in turn supports further economic growth, although this can hurt many small
businesses attempting to compete domestically.
04. Information sharing availability
The main legal entity that businessmen and women would register in the past, aside from
a local company, would be the offshore legal entity with an offshore corporate bank account.
This would allow them to i) minimize domestic and international tax ii) appoint this entity as the
parent company to multiple businesses iii) protect their assets and iv) benefit from the
confidentiality possibility, through both the company and the bank account.
05. Business development
We have seen many companies opening their offices in multiple countries at the same
time. Their desire to expand quickly comes from the endless opportunities in the free and open
market, a direct outcome of globalization. While sometimes one company is enough to conduct
business internationally (mainly for soft services), some countries will still request a local
company in each country to conduct full business activities
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Some of the disadvantages of globalization include:
01. Interdependence
Globalization leads to interdependence between nations, which could cause regional or
global instabilities, if local economic fluctuations end up impacting a large number of countries
relying on them.
02. National Sovereignty
Some see the rise of nation states, multinational or global firms and other international
organizations as a threat to sovereignty. Ultimately, this could cause some leaders to become
nationalistic or xenophobic.
03. Equity Distribution
The benefits of globalization can be unfairly skewed towards rich nations or individuals,
creating greater inequalities and leading to potential conflicts both nationally and internationally
as a result.
04. Pollution
As China is on the rise to become a large economic power, they have inadvertently
contributed to a huge environmental impact on the world.
China has increasingly become one of the countries chosen by many of its developed
counterparts for factory establishment due to its ability to produce goods with low costs.
However, with the increased number of factories setting up in China, it has resulted in the release
of a huge amount of poisonous industrial gases into the air causing air pollution.
05. It can lead to increased likelihood of economic disruptions of one nation affecting all nations
and hence unsettling the whole world leading to chaos across the world.
06. Smaller domestic firms may lack the resources to compete with big international companies
and therefore may be forced out of business.
07. Since globalization involves traveling of people as well as goods from one country to another
It can lead spread of some of the deadliest infectious diseases known to humans.