The Phenomenon of Globalization

For over thousands of years, globalization has widely occurred worldwide. Infact, since it had such an impactful widespread among people and families, It stayed throughout its heritage and was passed on to today.

The term globalization can be defined as a process by which societies, regional economies and cultures have been integrated via a global network of transportation, communication and trade. It has both positive and negative impacts in all the areas that it touches on be it economical, social, technology, cultural, political, environment, health or any other. Globalization started to have an impact on businesses world wide in the eighteenth century since that time marks the merging of modernity and globalization. However, in the modern sence, globalization kicked off after the end of Second World War since its during that time that leaders felt the urge to break down the borders

Globalization has been a process underway for hundreds, if not thousands, of years. From the Roman Empire, to caravans on the Spice Road, to the Transatlantic Slave Trade, the process of connecting the globe in an interdependent web has been underway for a long time. Today, it seems that this process has been quickly accelerated. Since the end of World War II and the rebuilding effort that followed it, global development has increased at an intense rate fueled by transnational corporations, the World Bank, and the International Monetary Fund. These multilateral organizations have transformed our global economy and reshaped our society.

During the last decade of the twentieth century, the word ‘globalization’ has become an increasingly prominent feature of political, social, and economic discussion in academic and policymaking circles, as well as in the media. The processes and outcomes of globalization drew attention and debates that had one thing in common. The research shows that nearly everyone agrees that globalization is a trend that is changing the face of the world, and as a result the world society lives in a more ‘globalized’ world. Nearly two and a half decades passed since 1990s, and studies have been conducted to examine the causes and consequences of globalization. Moreover, nearly every person experiences some type of globalization and can testify firsthand the effects it has on their life, society, and the state. The analysis of the effects that globalization dynamics have on the world society indicates that globalization has a significant positive impact via spreading opportunities and wealth across nations, stimulating innovation and productivity, enhancing the economic development of poorer countries, and helping to improve living standards.

Globalization is defined as the development of social and economic relationships stretching worldwide. In current times, we are all influenced by organizations and social networks located thousands of miles away. A key part of the study of globalization is the emergence of a world system- for some purposes; we need to regard the world as forming a single social order. (Introduction to Sociology, Giddens, Anthony, Duneier, Mitchell, Applebaum, Richard, Carr, Deborah, 9th Edition).

There is controversy over when globalization began because there is no crystal clear start to globalization. Some people believe that globalization started when the Buddhist leader Chandragupta combined aspects of trade, religion, and military to create a protected trading area. Others believe that globalization began under Genghis Khan’s rule. The Mongolian warrior-ruler created an empire that had trade integrated into it. There are also some experts that believe that the rise of globalization was linked to 1492, the year Christopher Columbus made his first trip to the New World.

The theory of globalization today is a field of intensive debate as the efforts towards defining globalization most often highlight its individual aspects. According to Held and McGrew (1999), “globalisation is an idea whose time has come, yet it lacks precise definition”. Despite the ambiguity of the term “globalisation,” the use of the term, according to Held and McGrew, reflects increased interconnectedness in political, economic and cultural matters across the world creating a shared social space. Given this inter-connectedness, globalisation may be defined as: “a process which embodies a transformation in the spatial organisation of social relations and

The concept of globalization is a complex and peculiar one, failing to be definable by a single, precise definition. Centrally, globalization involves information and goods being exchanged amongst different countries. These interactions and interchanges among countries globally over time is due to an increase in communication and transport networks. Globalization is often divided into three main areas being economic globalization, cultural globalization and political globalization. All three are vital areas to one’s life and globalization is said to have a large impact on each. Although globalization is controversial in the aspect that it cannot be declared just how much of an influence the notion has in the world. Political scientists such as Muhammad Ijaz Latif, Anton Pelinka and Martin Wolf all discuss this issue in their respective pieces as well as differing aspects of globalization such as the role the European Union plays in relation to globalization, the different perspectives of globalization and the challenges of the nation-state in regards to globalization.

Globalization can be defined as a system of interaction or increasing global relationships between cultures, people, and economic activities among the countries of the world. Globalization in its simpler form refers to conglomerate exchange of languages, ideas, and cultures. Behaviour or impacts of Globalization differ from country to country having a demarcation between developed countries like Britain and developing countries. Some critics allege that it has been footing down the cultural values and increasing conflicts between two nations. Globalization is a double-edged sword as it impacts and affects all generations of people, economically, politically, environmentally, and culturally. While Globalization has its benefits-millions of people around the world are now more empowered because of global interconnectedness-there are still many problems that can and already have risen from cultural and economic development around the world

The term "globalization" has a strong emotional charge. Some see globalization as a beneficial process - which will contribute decisively to global economic development - inevitable and irreversible. Others are hostile to this process, if not fear, believing that it increases inequality within and between nations, threatens employment and living standards and thwarts social progress. The objective of this study, which is an overview of certain aspects of globalization, is to indicate how a country can take advantage of this process, while realistically assessing the potential and risks.

Globalization is not a new word in the world of business and also to the common people. “As far as the definition of Globalization is concerned, there is no such single definition on which all the disciplines of study have agreed upon. One of the famous sociologists has defined globalization with 3 different concepts:” (1)

Globalization is now taken for granted, it was the stepping stone which facilitated the connectivity between different areas of the world and made it as one. We can now safely say that what happens in one part of the world has a direct/ indirect affect on the other. “in the economic sphere this might mean, for example, corporate decisions made in, say Japan, have an immediate and profound impact on investment decisions and employments levels in parts of Britain” (Bradley : The myth of Globalisation)

Globalization is the process by which people, cultures, ideas, and goods are spread across the world, stimulating the synergy and assimilation of world economies and governments. It references a global economy built on free trade and the use of foreign labor markets to capitalize on revenue, along with the movement of people, ideas, and knowledge from sea to shining sea. The study of history shows us that globalization is not a new phenomenon, rather it has been occurring for centuries. Whether one looks at trade routes such as the Silk Road, or the colonization of countries in the Middle East by European superpowers, they will see that these were all routes to spread economic and governing systems. With the increased availability to

Globalists view globalization as an inescapable development thus nobody can resist or stop it (Held, 2004). In addition, because increasing inter-connectedness are reducing the difference between region and nation, the boundaries are becoming pointless. The power of the state is in danger since it is challenged by new global factors such as transnational corporations (TNCs). In the final process, the cultures in this world

The term ‘globalization’ has become the paradigm of explaining the interconnectedness of the world and its inhabitants. While there are numerous definitions, the one coined by Gao Shangquan fits into context: 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.