Challenges Of Globalization Essay

According to our reading assignment 'Globalization 101', 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."

The term globalization is very familiar worldwide and is being used frequently during oral and written communication. So, it is a buzzword. But what it really signifies is required to be clearly understood. The origin of the word globalization is globe. We know the word globe means model of the earth composite body that contains valuable animate and inanimate objects with multi-configuration in a space called universe. Human being is one of the superior animate objects. We, as the human being of the earth made our global efforts to globalize the various activities to satisfy the needs and wants. The process by means of which our activities are integrated and created interdependence globally is called globalization. Therefore, globalization can be defined as the on-going economic, technological, social and political integration of the world. Through the process of globalization the economic, cultural, social, political, and environmental interdependence level has been increasing day by day over the vast distances. However, the vast distances with the advent of science and technology have

Globalization to me is when countries around the world expand their economic and financial dealings, communications, and political and cultural views with other developed and developing nations, with the hope of expanding worldwide economic growth and lessening poverty. International trade is a means of accomplishing this end.

Globalization is an appealing concept that has many various interpretations and definitions. Globalization is the expanding connectivity and interconnectedness between diverse geographic nations to increase the efficiency of providing goods, enhancing relationships of cultures, economics, and technology to state

Globalization is the process by which businesses or countries develop an international influence. It is a result of the interweaving of markets, technology, and information around the globe. As a result globalization has resulted in a more interdependent global economy.

Globalization is the process in which people, ideas, and goods spread throughout the world, spurring more interaction and integration between world cultures,

Globalization is the process of interaction and integration of people, companies and governments of different nations. The process is driven by international trade, investment and information technology. (Globalization 101, 2015). Basically, globalization is what happens when countries do something together and how it is affected throughout the world

Globalization is the process of the world becoming better communicated, which promotes the adoption of common cultural aspects, the international exchange of goods and services, and foreign investments, thus creating a global market and encouraging division of labor.

Globalization is a process in which barriers (physical, political, economic, cultural) separating different regions of the world are reduced or removed (removal of barriers is called liberalization), thereby stimulating exchanges in goods, services, money, and people. As these exchanges grow, nations and the businesses involved, become increasingly integrated and interdependent, promoting mutual reliance between countries. ⁵

Since the early 1990’s, the term globalization has become a bit of a buzzword, prevalent in the speech of policy makers, popular press, and academic journals. It is used frequently to describe the …. . Its consistent use has led many people to a certain understanding of it most basic meaning, but it is an immensely complex concept that can not be truly understood at the top layer of meaning which is prevalent among general society. There are multiple varying definitions for the globalization phenomenon.

Globalization can be described in a lot of different ways because it covers a large amount of topics including political, social and economic/commercial areas. According to Killic (2015), Globalization can be really challenging for different factions to come to one common agreement of what the term means because it has a ‘multi-dimensional’ structure. This means that up to this day, it is impossible to write a clear definition for what Globalization means as, although they share a similar understanding of the concept, different people in different parts of the world will have separate and sometimes conflicting views on what it means. Hopkins (2002) also describes Globalization as the “process of transformation of local phenomena into global ones”, this means that people from all around the world are brought together and function as one.

Frequently, people are unclear of exactly what Globalization means. Globalization is the tendency of the world's economies to act as a single interdependent economy. It can be described as the increased movement of people, knowledge, ideas, goods and money across national borders to make the world more unified in a sense. Globalization is often thought of in economic terms but as we know there are other components with this idea like, economics, and cultures. There is a huge debate of whether or not globalization is positive or negative.

Globalization can best be defined as the shrinking of our world. As technology advances the gaps between Countries is closed, and our society as a whole becomes more integrated. Globalization is something that has been occurring for thousands of years, with one early example of Globalization being the use of the Silk Road, which connected China and Europe during the Middle Ages. Globalization can offer businesses many was to increase business, while at the same time threatening them (Globalization101.org, 2014).

Globalization is defined as the act of globalizing, or extending to other or all parts of the word. In other words, globalization is that the world has experienced two great waves of gobalization driven by the free trade policies of major trading countries and falling transportation costs.

Globalization refers to the interconnection among countries, politically, economically and culturally. Globalization has come into existence due to the following factors: (i) betterment in transportation and communication, (ii) human and capital mobility, (iii) increasing formation and existence of NGOs and multinational corporations.