Globalization Is The Buzzword Of Today

1362 Words6 Pages
Globalization is the buzzword of today. The economies of the world are being increasingly integrated. Mobile phones and Internet have brought people closer. The world is becoming a smaller place. Goods, which were once confined to western countries, are available across the globe. Work can be outsourced to any part of the world that has an Internet connection. Because of improvements in traffic infrastructure one is able to reach one 's destination in a relatively short span of time. Globalization means increasing the interdependence, connectivity and integration on a global level with respect to the social, cultural, political, technological, economic and ecological levels. Globalization is an ongoing process by which mainly regional…show more content…
Even ancient Civilizations of Indus Valley, Mesopotamia and Egyptian Civilization did not live in isolation and had trade linkages. In the medieval times, Arab Traders provide a vital link for trade between India and Central Asia, Europe. Industrial Revolution in England and other European countries resulted in mass production and market for surplus goods had to be found in erstwhile colonies. However, with the end of colonial era after the Second World War, this form of globalization of colonial nature also came to an end. Modern globalization: In the middle decades of the twentieth century globalization was largely driven by the global expansion in the United States and Europe, and worldwide exchange of new developments in science and technology, and export of western culture through the new mass media: film, radio, and television and music recorder. Development and growth of international transport and telecommunication played a decisive role in modern globalization. The spread of globalization slowed down during the period from the start of the World War I until the third quarter of the twentieth century. However, the pace picked up rapidly during the fourth quarter of the twentieth century. In World War II, which is largely the result of planning by politicians to break down borders hampering trade to increase prosperity and interdependence thereby decreasing the chance of future war. Their work led to an agreement to lay down

More about Globalization Is The Buzzword Of Today

Open Document