What is Globalization?

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

The risk that comes with globalization connects between countries, culture and businesses. In today’s society, managers have more to deal with as the idea of outsourcing and cultural differences have made things a bit complex for the parties involved. Some companies might feel going to different countries for business could become a liability. For instance, if a U.S. company goes to Japan, events like the Japanese 9.0 magnitude earthquake that killed 20,000 people could cost them. This limitation of globalization effects everyone involved. Supply chains around the world were disrupted from the manufacturing plants being shutdown. In addition to natural disasters, there are also political, economical and financial risk to consider. However, a positive aspect of globalization is that is creates jobs for the economy. For those who couldn’t work due to the lack of jobs already in their country, they can now earn money to feed their families and establish a working class.

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."

There are good and bad things about globalization for every country. I am from Germany and I have lived in the US for many years, so I am confident enough to speak about both countries. Globalization had a great effect on both countries. Germany is an export country that relies on high global demand for its products. Consequently, globalization and the EU have made it much simpler for Germany to reach customers in other countries. German carmakers rely heavily on the US and China. They studied the Chinese culture, even making special extended car models for China, because Chinese customers prefer lots of space in the back seat. Next, the US has also benefited greatly. The US has many Global brands that can be found in even the most unlikely of places. Fast food restaurants are an excellent example of how US companies have expanded in other countries. The great thing about these restaurants is that many customize their menus based on the country, region, or city they are in. Furthermore, both countries have many globally focused organizations and region-country focused organizations. Germany and the US have both benefited greatly from globalization. Through globalization, both of the countries companies have not only managed to increase their sale, but they have also taken advantage of the cheap labor in some countries to get their products manufactured.

In the view of a supporter, globalization means a taste of culture, access to goods, more choices to choose from, and boundless opportunities in cooperation. Towards opponents it is social injustices, exploitation, and terrible working conditions that causes people to go against. Over time income inequality has been growing a distance over the years. There are debates and arguments to this day about the income inequality. Within the nation, opponents are voicing that “freer trade and investment allows international companies to close the factories in high wage”. While the low waged/ developing nations are moved leading to the increase in wage in both blue collar and white collar. In between nations, there are claims of whether globalization

Globalization also changes the way the environment and population will affect us. If someone else damages their environment or if their population becomes too large, it will increase demand (price) for resources and spread the consequences to us. A globalized economy makes it more necessary for America to get involved in other countries. I have mixed feelings about how much we should be involved in other countries and haven’t fully made up my mind on the

Globalization is defined by the Levin Institute as "a process of interaction and integration among people, companies, and governments of different nations." The process itself is really driven by two main components those being international trade and investment.

Globalization is a concept with a variety of meanings making it quite confusing. The concept includes a wide variety of events as well as aspects of personal and social life. However, some scholars have attempted to offer some definitions of this concept: It has been defined as the increasing unification in the economic order of the world via the reduction of barriers to free international trade like tariffs, import quotas, and export fees. Globalization describes the process in which regional economies, cultures, and societies have become integrated via transportation, communication, and trade (Croucher 10). It is closely associated with economic globalization, which is “the process by which markets and production in different countries

Economic globalization can simply call international trade, which refers to the world economic activities beyond the borders through the foreign trade,

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).

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, 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 process regarding an increasing interaction of people, states, or countries through the growth of the international flow of money, ideas, and culture. It can also be tied to business ventures where businesses or other organizations develop international influence or start operating on an international scale. The idea of globalization has become very controversial in the United States labor market. There are many pros and cons on how it affects the labor markets. Along with the labor market controversy people also debate over whether globalization is a threat or opportunity to the United States economy. Although Globalization has brought a significantly positive impact on most countries in terms of economy, culture, and politics, it also has left some drawbacks behind on the same aspects.

There are many ways to look at and understand modern globalization. In general terms, globalization means that the world, as a whole, is leading to a more utopian society, meaning that the globe is become very interconnected and similarities are growing between different regions and cultures of the world. Globalization is a phenomenon that has been evolving since before 10,000 B.C. This constant evolution can cause many problems, but it can also solve many issues positively as well. Development of any country, however, seems to be a key issue when discussing globalization. Globalization and development present two different factors in the world today. Many countries are lacking in their own development while the world around them is becoming more developed and globalized. Globalization hinders development because with globalization, less developed countries depend on more developed countries to help them to sustainability and self-reliance.