The Importance Of Globalization

Globalization refers to the development of an integrated world economy, exchange of cultural views, thoughts, and products (Wikipedia, 2013). Pologeorgis (2012) states that, essentially globalization began with the exploration and settlement of new lands. Communication and transportation advances have aided in this process.

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 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 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 if the process of integration and interconnectedness among economies. The process is characterized by declining trade barriers, increasing (cost and profit driven) collaborations, shrinking distances (due to advancements in communication technologies) and so forth. It’s a shift toward a more integrated and interdependent economy. Globalization has a

Globalization can be defined as ‘international integration’, which can be described as the process by which the people of the world are unified into a single society and functioning together. This process is a combination of economic, technological, and political forces (dictionary.com).

Globalization, in its most literal definition, is the process of making, transforming or expanding a product or service into a global one. This process is a combination of economic, technological, socio-cultural, and political forces (Button, 2008).

Globalization is the proximate and multidimensional set of political, economic, social, and technological integration around the globe. The increasing interconnectedness among countries can be seen through the prism of globalization. Essentially, the lives of people living in distant cities like Bangalore and Silicon Valley are brought closer as a result of this phenomenon. Drivers of this adjacent include; the expansion of trade, technological exchange, labor movement and investments (Stearns 2017). The discourse of globalization encompasses several multidisciplinary themes. The paper, however, concentrates on the economic factors, “which, entails the closer economic integration of countries of the world through increased flow of goods, services, capital and even labor.” (Stiglitz 2007: 4). The paper focuses on economic globalization and elucidates whether the globalization has reduced poverty and inequality or had reproduced the reversed implications. Meanwhile, the paper reveals if the developing world has benefited from the set. This seems to be the central question that policymakers, development economists, and politicians have been grappling with for years. The paper is presented in three parts. Part one reflects on the historical context of the problem statement. The second part compiles literature and juxtaposes with cases to corroborate the globalization-poverty-inequality triangle. Finally, the conclusion represents the author’s viewpoint on the

Globalization is the interaction between peoples, nation and governments of different countries. It is largely driven by trade agreements and investments helped by information technology. This process affects the environment, cultures, political systems and economic development.

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.

Globalization should be defended and extended. Globalization allows for the free movement of people (e.g. migration and remittances), fosters economic prosperity and growth (e.g. flow of capital and trade), and helps bring structure to international politics and support to states (e.g. United Nations and the World Trade Organization). I will argue that while the defense and expansion of globalization benefits the entire global community, the more powerful states will benefit the most. The organization of the argument is as follows. First, I will discuss the positive impacts of migration, especially in regards to remittances. Next, I will analyze the effects of the global political economy on global wealth, trade, and the flow of capital.

Globalization is a process of integration, interdependence and development of financial, trade, economic, and communications throughout the nations in the world. It spreads goods, services, ideas and technology to all areas of the world. Also, Localization ensures that products and services are within what certain areas or people want and need in a particular market and allows them to adapt to the different cultures.