Globalization is a complex process of interaction and integration among nations, driven by trade, investment, and technology, leading to economic, cultural, and political interconnectedness. The text outlines various types of globalization, including economic, financial, technological, political, cultural, ecological, and sociological, as well as the advantages and disadvantages of this phenomenon. Additionally, it highlights challenges faced by the garment sector in Bangladesh, such as infrastructure issues, supplier performance, and compliance with safety regulations.

2. Globalization
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. 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.Since 1950, for example, the volume of world trade has
increased by 20 times, and from just 1997 to 1999 flows of foreign
investment nearly doubled, from $468 billion to $827 billion.
Distinguishing this current wave of globalization from earlier ones,
author Thomas Friedman has said that today globalization is “farther,
faster, cheaper, and deeper.

3. GLOBALIZATION
TYPES
•Academic literature commonly
subdivides globalization into three
major areas:
# Economic globalization
# Cultural globalization
# And political globalization.

4. IMPORTANCE OF GLOBALIZATION
Globalization is about the interconnectedness of
people and businesses across the world that
eventually leads to global cultural, political and
economic integration. It is the ability to move and
communicate easily with others all over the world
in order to conduct business internationally.

5. CHARACTERISTICS OF GLOBALIZATION
•High levels of labour migration within and between countries.
•New nations joining the world trading system. China and India joined the WTO in
1991, Russia joined the WTO in 2012.
•A fast changing shift in the balance of economic and financial power from
developed to emerging economies and markets.
•Increasing spending on investment, innovation and infrastructure across large
parts of the world
•Globalization is a process of making the world economy more inter-dependent.

6. GLOBALIZATIONIS
A SAMPLE WORD
•Globalization is the process by which people and goods
move easily across borders. Principally, it's an economic
concept – the integration of markets, trade and
investments with few barriers to slow the flow of
products and services between nations.
•There are about seven major types of globalization.
Economic Globalization
Financial Globalization
Technological Globalization
Political Globalization
Cultural Globalization
Ecological Globalization
Sociological Globalization

7. ECONOMIC
GLOBALIZATION
• A WORLDWIDE ECONOMIC SYSTEM THAT
PERMITS EASY MOVEMENT OF GOODS,
PRODUCTION, CAPITAL, AND RESOURCES
(FREE TRADE FACILITATES THIS)
• EXAMPLE: NAFTA, EU, MULTINATIONAL
CORPORATIONS

8. FINANCIAL
GLOBALIZATION
• INTERCONNECTION OF THE WORLD’S
FINANCIAL SYSTEMS E.G. STOCK
MARKETS.
• MORE OF A CONNECTION BETWEEN
LARGE CITIES THAN OF NATIONS.
• EXAMPLE: WHAT HAPPENS IN ASIAN
MARKETS AFFECTS THE NORTH
AMERICAN MARKETS.

9. TECHNOLOGICAL
GLOBALIZATION
• Connection between nations through technology such as
television, radio, telephones, internet, etc.
• Was traditionally available only to the rich but is now far
more available to the poor. Much less infrastructure is
needed now.

10. POLITICAL GLOBALIZATION
• Countries are attempting to adopt similar
political policies and styles of government in
order to facilitate other forms of globalization.
• Move to secular governments, free trade
agreements.

11. CULTURAL GLOBALIZATION
• Merging or “watering down” of the
world’s cultures e.g. food, entertainment,
language, etc.
• Heavily criticized as destructive of local
culture
• The Simpsons is shown in over 200
countries in the world.

12. ECOLOGICAL GLOBALIZATION
• seeing the Earth as a single ecosystem rather
than a collection of separate ecological systems
because so many problems are global in nature.
• International treaties to deal with
environmental issues like biodiversity, climate
change or the ozone layer, wildlife reserves that
span several countries.

13. SOCIOLOGICAL GLOBALIZATION
• A growing belief that we are all global citizens
and should all be held to the same standards –
and have the same rights.
• the growing international ideas that capital
punishment is immoral and that women should
have all the same rights as men.

14. THE GLOBALIZATION
OF SPORTS
• The Globalization of sport is another fairly
obvious example of cultural globalization – think
of all the international sporting events that take
place – most notably the World Cup and The
Olympics, and Formula 1, which bind millions
together in a shared, truly global, ‘leisure
experience.

15. GLOBALRISKS/ GLOBALRISKCONSCIOUSNESS
Ulrich Beck (1992) argues that a fundamental feature of
globalizationis the development of a global risk consciousness,
which emerges due to shared global problems which threaten
people in multiple countries – examples include the threat of
terrorism, international nuclear war, the threat of global
pandemics, the rise of organized crime funded primarily through
international drug trafficking, and the threat of planetary melt-
down due to global warming.

16. THE ADVANTAGEOF GLOBALIZATION
• Globalization enables worldwide access to sources of cheap raw
materials, and this enables firms to be cost competitive in their
own markets and in overseas markets. Seeking out the cheapest
materials from around the world is called global sourcing. Because
of cost reductions and increased revenue, globalization can
generate increased profits for shareholders, Globalization has led
to increased flows of inward investment between countries, which
has created benefits for recipient countries. These benefits include
the sharing of knowledge and technology between countries.

17. DISADVANTAGEOF GLOBALIZATION
• The over-standardization of products through global branding is a common
criticism of globalization. For example, the majority of the world’s computers
use Microsoft’s Windows operating system. Clearly, standardizing of computer
operating systems and platforms creates considerable benefits, but critics argue
that this leads to a lack of product diversity, as well as presenting barriers to
entry to small, local, producers. Globalization can also increase the pace
of deindustrialization, which is the slow erosion of an economy’s
manufacturing base.

18. GLOBALIZATIONANDITSFUTURE
• Globalization is a complex and dynamic phenomenon. What make this
phenomenon more complex are the contradictory justifications on the origin of
globalization, conflicting ways of defining the phenomenon and differing
viewpoints on globalization dimensions. This paper tries to provide definitions
of globalization which support its historical development perspective. History
has provided some details about ground breaking events in different eras of
globalization. Various dimensions of globalization are also available in this
study. Although it has pros and cons, it is on our part to support, facilitate and
encourage positive impacts of globalization, while searching ways to minimize
or discourage its drawbacks.

19. MAINCHALLENGES FOR THE RMGSECTOROF BANGLADESH
• Infrastructure
• Suppliers performance and skilled labor force
• Access to raw materials
• Economic and political stability
• Compliance 6. Workplace safety
• Building and fire safety
• Risk of perceived declining attractiveness
• Lack of financing
• Living wages

20. INFRASTRUCTURE
• Infrastructure: Transportation bottleneckscreate inefficient lead times for
• garments and delay deliveries to customers. This issue will become even more
• important in the future, since buyers want to source more fashionable
products
• with shorter lead times.
• Energy supply is a concern, too—90 percent of the more than 100 local
suppliers
• we interviewed rate it as poor or very poor. The government has prioritized
• improvement in this area and started to upgrade power systems over the last
two
• years, however.

21. SUPPLIERS’ PERFORMANCEANDTHE SKILLEDWORKFORCE
• Suppliers’ performance and the skilled workforce: The suppliers’ productivity
• must improve not only to mitigate the impact of rising wages but also to close
• gaps with other sourcing countries and to satisfy new customer requirements
.
• more sophisticated products. Two other concerns are a lack of investment in
new
• machinery and technologies and the insufficient size of the skilled workforce,
• particularly in middle management.

22. RAWMATERIALS
* Bangladesh lacks a noteworthy supply of natural or artificial
• fibers, and its dependence on imports creates sourcing risks
and lengthens lead
• times. Compounding the problem is the volatility of raw-
material prices over the
• past few years. The development of a local sector would
improve lead times.

23. ECONOMIC
AND POLITICAL
STABILITY
• Interviewed stated that they would reduce
levels of sourcing in Bangladesh if its
• Political stability decreased. The survey found
that political unrest, strikes, and
• The ease of doing business are top of mind for
respondents.
• About half of the chief purchasing officers

24. COMPLIANCE
• Nongovernmental and other organizations monitor Bangladesh
• for labor and social-compliance issues. While most European and
US chief
• purchasing officers said in the survey that standards have
somewhat or strongly
• improved over the past five years, they noted that suppliers vary
greatly in their
• degree of compliance. Environmental compliance is just beginning
to get
• attention.

25. BUILDING & FIRESAFETY:
• Two major incidents in RMG sector of Bangladesh .
• Workplace safety to the fore and led all stakeholders to act accordingly.
• Good news for RMG sector that, following the unfortunate incidents, various
• Platforms such as the Bangladesh Accord on Fire and Building Safety, the
Alliance.
• For Bangladesh Worker Safety and National Plan of Action have been formed .
• Improve building and fire safety of Bangladesh’s garment industry. Also
BGMEA.
• BKMEA are working together here to solve such kinds of problems.
• Also taken necessary actions and invested huge amount of money.

26. Risk of perceived declining attractiveness: As the RMG sector is
under scrutiny,
• its future delivery capacity is affected. More focus will need to be
placed on
• workers’ empowerment, occupational health and safety, and
productivity –
• especially for delivering to the EU and the US markets.
Lack of financing: Factories, particularly SMEs, often cannot afford
upgrades
• Identified by safety audits and financial institutions are reluctant
to finance them
• Due to their size & associated risks.

27. THE MARKETOUTLOOKS& CHARACTERISTICS
• The textile sector has emerged as a dominant player in the economic development of
Bangladesh. The emergence and meteoric growth of the highly labor-intensive ready-
made garments (RMG) sector in the last two-and-a-half decades significantly encouraged
the development of the capital-intensive primary textile sector (PTS) in this country. In
the financial year ending June 2006, Bangladesh’s total exports amounted to $10.526
billion, in which the contribution of the textile sector (comprising mainly RMG and
knitwear) was $8.10 billion, i.e. 77% of total national exports. Even in 2006, one year
after allquota restrictions on imports of garments into the world market were removed,
exports of RMG registered a growth of 21.6%.

28. SUPPLY AND DEMANDIN THE NATIONAL MARKET
• Cotton spinning mills are the primary users of cotton. Therefore, any
assessment of demand for cotton in the domestic market is dictated by the
present size and future growth potential of the spinning sector. We shall
therefore look at the present status of the spinning industry in the country,
its past growth pattern and the factors that may influence acceleration of
this growth in the near future.

29. GROWTHHISTORYOF THEPRIMARYTEXTILESECTORIN BANGLADESH
The private-sector-led growth of the PTS in Bangladesh is a relatively new phenomenon. In
the spinning subsector, there were only 853,000 spindles in 1972/73, largely owned by the
public sector. In the early 1990s, investment in private enterprises in this sectorgained
momentum and in the following 10 years capacity almost doubled, from 2,388,000 to
4,360,000 spindles. This growth gained impetus from the opportunities opened up by the
then burgeoning RMG export sector.

30. YARN SUPPLY SITUATION AND FUTURE DEMAND
• Yarn production in Bangladesh is growing at the rate of 10–12% a year. In 2003/04, yarn
production reached 380,000 tons. On a conservative estimate, this would mean that the
country consumed almost
435,000 tons of cottonto produce that quantity of yarn. However, USDA estimatesthat mill
consumptionof cotton increased from 375,000 tons in 2003/04, to
410,000 tons in 2004/05 and 480,000 tons in 2005/06 (August–July).
BTMA estimates that by 2008/09 the total demand for different types of yarn will reach 1.1
million tons,
to meet both local demand and demand stemming from exports of RMG. Assuming that 70%
of this yarn
requirement would be produced in Bangladesh, the total requirement of cotton for the
spinning
industry would then be about 870,000 tons.

31. SOURCING FROM BANGLADESH
• We are a fast growing apparel sourcing company in
• Bangladesh, sourcing apparels and fashion accessories for our buyers.
The entire collections of
• mid to high quality fashion items are made for men, women, kids, and
babies. Sourcing Bangladesh is specialized in variety of light
• knit and heavy knit and woven. Our leading strength
• Supplier base and sourcing capacity. We are
• currently serving reputed customers with our
• excellent sourcing capabilities in shortest lead-time
• offering competitive prices.

32. According to BGMEA:
• 30 years of experience & reputation in
• garments manufacturing
• Competitive
• International standard quality
• Vibrant population, 70% below 40 years age,
• quick learning & dedicate
• Irresistible & resilient entrepreneurial spirit
• Duty free market access in most of the
• developed countries & PTA in India, China,Korea, Malaysia.

33. WHY CHOOSING
BANGLADESH
• All CPOs made price all activeness as the
first and foremost response for
purchasing in
• Bangladesh, and said the country’s price
levels will remain highly in the future.
• Half of the COPs mentioned capacity as
the second- biggest advantage of
Bangladesh. With a current 5000 RMG
factories employing about 3.6 million
worker.

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