Globalization in different aspects

1. Globalization in different aspects
Sir Malit

2. Economic Globalization
• Economic globalization refers to the
increasing interdependence of world
economies as a result of the growing scale
of cross-border trade of commodities and
services, flow of international capital and
wide and rapid spread of technologies. It
reflects the continuing expansion and
mutual integration of market frontiers, and
is an irreversible trend for the economic
development in the whole world at the
turn of the millennium. The rapid growing
significance of information in all types of
productive activities and marketization are
the two major driving forces for economic
globalization.

3. • In other words, the fast globalization of the
world’s economies in recent years is largely based
on the rapid development of science and
technologies, has resulted from the environment
in which market economic system has been fast
spreading throughout the world, and has
developed on the basis of increasing cross-border
division of labor that has been penetrating down
to the level of production chains within
enterprises of different countries.

4. According to UN
• Economic globalization refers to the increasing
interdependence of world economies as a result
of the growing scale of cross-border trade of
commodities and services, flow of international
capital and wide and rapid spread of technologies.
It reflects the continuing expansion and mutual
integration of market frontiers, and is an
irreversible trend for the economic development
in the whole world at the turn of the millennium.

5. Sociology, Culture and Globalization
• Globalization, according to sociologists, is an
ongoing process that involves interconnected
changes in the economic, cultural, social, and
political spheres of society. As a process, it
involves the ever-increasing integration of
these aspects between nations, regions,
communities, and even seemingly isolated
places.

6. • In terms of the economy, globalization refers to the
expansion of capitalism to include all places around the
world into one globally integrated economic system.
Culturally, it refers to the global spread and integration of
ideas, values, norms, behaviors, and ways of life. Politically,
it refers to the development of forms of governance that
operate at the global scale, whose policies and rules
cooperative nations are expected to abide. These three core
aspects of globalization are fueled by technological
development, the global integration of communication
technologies, and the global distribution of media.

7. Cultural Aspects of Globalization
• The process of cultural globalization happens through
the distribution and consumption of media, consumer
goods, and the Western consumer lifestyle. It is also
fueled by globally integrated communication systems
like social media, disproportionate media coverage of
the world’s elite and their lifestyles, the movement of
people from the global north around the world via
business and leisure travel, and the expectations of
these travelers that host societies will provide
amenities and experiences that reflect their own
cultural norms.

8. Globalization of Politics
Under globalization, politics can take place above the state
through political integration schemes such as the European
Union and through intergovernmental organizations such as
the International Monetary Fund, the World Bank and the
World Trade Organization. Political activity can also transcend
national borders through global movements and NGOs. Civil
society organizations act globally by forming alliances with
organizations in other countries, using global communications
systems, and lobbying international organizations and other
actors directly, instead of working through their national
governments.