what is globalization means to me essay

Essay on Globalization for Students and Children

500+ words essay on globalization.

Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies.

How Globalization Came into Existence?

First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents.

Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade . By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices.

True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe.

From the 19th century, there was a domination of Great Britain all over the world. There was a rapid spread of international trade. The British developed powerful ships and trains. Consequently, the speed of transportation greatly increased. The rate of production of goods also significantly increased. Communication also got faster which was better for Global trade .

Finally, in 20th and 21st -Century Globalization took its ultimate form. Above all, the development of technology and the internet took place. This was a massive aid for Globalization. Hence, E-commerce plays a huge role in Globalization.

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Impact of Globalization

First of all, Foreign Direct Investment (FDI) increases at a great rate. This certainly is a huge contribution of Globalization. Due to FDI, there is industrial development. Furthermore, there is the growth of global companies. Also, many third world countries would also benefit from FDI.

Technological Innovation is another notable contribution of Globalization. Most noteworthy, there is a huge emphasis on technology development in Globalization. Furthermore, there is also technology transfer due to Globalization. The technology would certainly benefit the common people.

The quality of products improves due to Globalization. This is because manufacturers try to make products of high-quality. This is due to the pressure of intense competition. If the product is inferior, people can easily switch to another high-quality product.

To sum it up, Globalization is a very visible phenomenon currently. Most noteworthy, it is continuously increasing. Above all, it is a great blessing to trade. This is because it brings a lot of economic and social benefits to it.

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✍️Essay on Globalisation: Samples in 100, 150 and 200 Words

• Updated on  
• Oct 25, 2023

Globalisation means the combination of economies and societies with the help of information, ideas, technology, finance, goods, services, and people. It is a process where multinational companies work on their international standing and conduct operations internationally or overseas. Over the years, Globalisation has had a profound impact on various aspects of society. Today we will be discussing what globalisation is and how it came into existence with the essay on globalisation listed below.

Table of Contents

• 1 How Globalisation Came Into Existence?
• 2 Essay on Globalisation in 100 Words
• 3 Essay on Globalisation in 150 Words
• 4 Essay on Globalisation in 200 Words

How Globalisation Came Into Existence?

For all those unaware, the concepts of globalisation first emerged in the 20th century. Here are some of the key events which led to the development of globalisation in today’s digital world.

• The ancient Silk Route as well as the maritime routes led to the exchange of goods, ideas and culture in several countries. Although these were just trade routes, but later became important centres for cultural exchange.
• Other than this, the European colonial expansion which took place from the 15th to the 20th century led to the setting up of global markets where both knowledge and people were transferred to several developing countries. 
• The evolution and exchange of mass media, cinema and the internet further led to the widespread dissemination of cultures and ideas.

Also Read: Essay on the Importance of the English Language for Students

Essay on Globalisation in 100 Words

Globalization, the interconnectedness of nations through trade, technology, and cultural exchange, has reshaped the world. It has enabled the free flow of goods and information, fostering economic growth and cultural diversity. However, it also raises challenges such as income inequality and cultural homogenization. 

In a globalized world, businesses expand internationally, but local industries can suffer. Moreover, while globalization promotes shared knowledge, it can erode local traditions. Striking a balance between the benefits and drawbacks of globalization is essential to ensure a more equitable and culturally diverse global community, where economies thrive without leaving anyone behind.

Also Read: Essay on Save Environment: Samples in 100, 200, 300 Words

Essay on Globalisation in 150 Words

Globalization is the process of increasing interconnectedness and interdependence among countries, economies, and cultures. It has transformed the world in various ways.

Economically, globalization has facilitated the flow of goods, services, and capital across borders. This has boosted economic growth and reduced poverty in many developing nations. However, it has also led to income inequality and job displacement in some regions.

Culturally, globalization has resulted in the spread of ideas, values, and cultural products worldwide. While this fosters cultural exchange and diversity, it also raises concerns about cultural homogenization.

Technologically, globalization has been driven by advances in communication and transportation. The internet and smartphones have connected people across the globe, allowing for rapid information dissemination and collaboration.

In conclusion, globalization is a complex phenomenon with both benefits and challenges. It has reshaped the world, bringing people closer together, but also highlighting the need for responsible governance and policies to address its downsides.

Also Read: Essay on Unity in Diversity in 100 to 200 Words

Essay on Globalisation in 200 Words

Globalization, a multifaceted phenomenon, has reshaped the world over the past few decades. It involves the interconnectedness of economies, cultures, and societies across the globe. In this essay, we will briefly discuss its key aspects and impacts.

Economically, globalization has led to increased international trade and investment. It has allowed companies to expand operations globally, leading to economic growth in many countries. However, it has also resulted in income inequality and job displacement in some regions.

Culturally, globalization has facilitated the exchange of ideas, values, and traditions. This has led to a more diverse and interconnected world where cultures blend, but it can also challenge local traditions and languages.

Socially, globalization has improved access to information and technology. It has connected people across borders, enabling global activism and awareness of worldwide issues. Nonetheless, it has also created challenges like cybercrime and privacy concerns.

In conclusion, globalization is a double-edged sword. It offers economic opportunities, cultural exchange, and global connectivity, but it also brings about disparities, cultural tensions, and new global challenges. To navigate this complex landscape, the world must strive for responsible globalization that balances the interests of all stakeholders and promotes inclusivity and sustainability.

Related Articles

The movement of goods, technologies, information, and jobs between countries is referred to as globalisation. 

Globalization as a phenomenon began with the earliest human migratory routes, or with Genghis Khan’s invasions, or travel across the Silk Road.

Globalisation allows wealthy nations to access cheaper labour and resources, while also providing opportunity for developing and underdeveloped nations with the jobs and investment capital they require.

For more information on such interesting topics, visit our essay-writing page and follow Leverage Edu ! 

Malvika Chawla

Malvika is a content writer cum news freak who comes with a strong background in Journalism and has worked with renowned news websites such as News 9 and The Financial Express to name a few. When not writing, she can be found bringing life to the canvasses by painting on them.

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ENCYCLOPEDIC ENTRY

Globalization.

Globalization is a term used to describe the increasing connectedness and interdependence of world cultures and economies.

Anthropology, Sociology, Social Studies, Civics, Economics

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Freight trains waiting to be loaded with cargo to transport around the United Kingdom. This cargo comes from around the world and contains all kinds of goods and products.

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Globalization is a term used to describe how trade and technology have made the world into a more connected and interdependent place. Globalization also captures in its scope the economic and social changes that have come about as a result. It may be pictured as the threads of an immense spider web formed over millennia, with the number and reach of these threads increasing over time. People, money, material goods, ideas, and even disease and devastation have traveled these silken strands, and have done so in greater numbers and with greater speed than ever in the present age. When did globalization begin? The Silk Road, an ancient network of trade routes across China, Central Asia, and the Mediterranean used between 50 B.C.E. and 250 C.E., is perhaps the most well-known early example of exchanging ideas, products, and customs. As with future globalizing booms, new technologies played a key role in the Silk Road trade. Advances in metallurgy led to the creation of coins; advances in transportation led to the building of roads connecting the major empires of the day; and increased agricultural production meant more food could be trafficked between locales. Along with Chinese silk, Roman glass, and Arabian spices, ideas such as Buddhist beliefs and the secrets of paper-making also spread via these tendrils of trade. Unquestionably, these types of exchanges were accelerated in the Age of Exploration, when European explorers seeking new sea routes to the spices and silks of Asia bumped into the Americas instead. Again, technology played an important role in the maritime trade routes that flourished between old and newly discovered continents. New ship designs and the creation of the magnetic compass were key to the explorers’ successes. Trade and idea exchange now extended to a previously unconnected part of the world, where ships carrying plants, animals, and Spanish silver between the Old World and the New also carried Christian missionaries. The web of globalization continued to spin out through the Age of Revolution, when ideas about liberty , equality , and fraternity spread like fire from America to France to Latin America and beyond. It rode the waves of industrialization , colonization , and war through the eighteenth, nineteenth, and twentieth centuries, powered by the invention of factories, railways, steamboats, cars, and planes. With the Information Age, globalization went into overdrive. Advances in computer and communications technology launched a new global era and redefined what it meant to be “connected.” Modern communications satellites meant the 1964 Summer Olympics in Tokyo could be watched in the United States for the first time. The World Wide Web and the Internet allowed someone in Germany to read about a breaking news story in Bolivia in real time. Someone wishing to travel from Boston, Massachusetts, to London, England, could do so in hours rather than the week or more it would have taken a hundred years ago. This digital revolution massively impacted economies across the world as well: they became more information-based and more interdependent. In the modern era, economic success or failure at one focal point of the global web can be felt in every major world economy. The benefits and disadvantages of globalization are the subject of ongoing debate. The downside to globalization can be seen in the increased risk for the transmission of diseases like ebola or severe acute respiratory syndrome (SARS), or in the kind of environmental harm that scientist Paul R. Furumo has studied in microcosm in palm oil plantations in the tropics. Globalization has of course led to great good, too. Richer nations now can—and do—come to the aid of poorer nations in crisis. Increasing diversity in many countries has meant more opportunity to learn about and celebrate other cultures. The sense that there is a global village, a worldwide “us,” has emerged.

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Related Resources

Globalization: Definition, Benefits, Effects, Examples – What is Globalization?

• Publié le 21 January 2019
• Mis à jour le 25 March 2024

Globalization – what is it? What is the definition of globalization? Benefits and negative effects? What are the top examples of globalization? What famous quotes have been said about globalization?

What is Globalization? All Definitions of Globalization

A simple globalization definition.

Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe.

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An Official Definition of Globalization by the World Health Organization (WHO)

According to WHO , globalization can be defined as ” the increased interconnectedness and interdependence of peoples and countries. It is generally understood to include two inter-related elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows.”

What Is Globalization in the Economy?

According to the Committee for Development Policy (a subsidiary body of the United Nations), from an economic point of view, globalization can be defined as: “(…) the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, the flow of international capital and the wide and rapid spread of technologies. It reflects the continuing expansion and mutual integration of market frontiers (…) and the rapid growing significance of information in all types of productive activities and marketization are the two major driving forces for economic globalization.”

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What Is Globalization in Geography?

In geography, globalization is defined as the set of processes (economic, social, cultural, technological, institutional) that contribute to the relationship between societies and individuals around the world. It is a progressive process by which exchanges and flows between different parts of the world are intensified.

Globalization and the G20: What is the G20?

The G20 is a global bloc composed by the governments and central bank governors from 19 countries and the European Union (EU). Established in 1999, the G20 gathers the most important industrialized and developing economies to discuss international economic and financial stability. Together, the nations of the G20 account for around 80% of global economic output, nearly 75 percent of all global trade, and about two-thirds of the world’s population.

G20 leaders get together in an annual summit to discuss and coordinate pressing global issues of mutual interest. Though economics and trade are usually the centerpieces of each summit’s agenda, issues like climate change, migration policies, terrorism, the future of work, or global wealth are recurring focuses too. Since the G20 leaders represent the “ political backbone of the global financial architecture that secures open markets, orderly capital flows, and a safety net for countries in difficulty”, it is often thanks to bilateral meetings during summits that major international agreements are achieved and that globalization is able to move forward.

The joint action of G20 leaders has unquestionably been useful to save the global financial system in the 2008/2009 crisis, thanks to trade barriers removal and the implementation of huge financial reforms. Nonetheless, the G20 was been struggling to be successful at coordinating monetary and fiscal policies and unable to root out tax evasion and corruption, among other downsides of globalization. As a result of this and other failures from the G20 in coordinating globalization, popular, nationalist movements across the world have been defending countries should pursue their interests alone or form fruitful coalitions.

How Do We Make Globalization More Just?

The ability of countries to rise above narrow self-interest has brought unprecedented economic wealth and plenty of applicable scientific progress. However, for different reasons, not everyone has been benefiting the same from globalization and technological change: wealth is unfairly distributed and economic growth came at huge environmental costs. How can countries rise above narrow self-interest and act together or designing fairer societies and a healthier planet? How do we make globalization more just?

According to Christine Lagarde , former President of the International Monetary Fund, “ debates about trade and access to foreign goods are as old as society itself ” and history tells us that closing borders or protectionism policies are not the way to go, as many countries doing it have failed.

Lagarde defends we should pursue globalization policies that extend the benefits of openness and integration while alleviating their side effects. How to make globalization more just is a very complex question that involves redesigning economic systems. But how? That’s the question.

Globalization is deeply connected with economic systems and markets, which, on their turn, impact and are impacted by social issues, cultural factors that are hard to overcome, regional specificities, timings of action and collaborative networks. All of this requires, on one hand, global consensus and cooperation, and on the other, country-specific solutions, apart from a good definition of the adjective “just”.

When Did Globalization Begin? The History of Globalization

For some people, this global phenomenon is inherent to human nature. Because of this, some say globalization begun about 60,000 years ago, at the beginning of human history. Throughout time, human societies’ exchanging trade has been growing. Since the old times, different civilizations have developed commercial trade routes and experienced cultural exchanges. And as well, the migratory phenomenon has also been contributing to these populational exchanges. Especially nowadays, since traveling became quicker, more comfortable, and more affordable.

This phenomenon has continued throughout history, notably through military conquests and exploration expeditions. But it wasn’t until technological advances in transportation and communication that globalization speeded up. It was particularly after the second half of the 20th century that world trades accelerated in such a dimension and speed that the term “globalization” started to be commonly used.

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Examples of Globalization (Concept Map)

Because of trade developments and financial exchanges, we often think of globalization as an economic and financial phenomenon. Nonetheless, it includes a much wider field than just flowing of goods, services or capital. Often referred to as the globalization concept map, s ome examples of globalization are:

• Economic globalization : is the development of trade systems within transnational actors such as corporations or NGOs;
• Financial globalization : can be linked with the rise of a global financial system with international financial exchanges and monetary exchanges. Stock markets, for instance, are a great example of the financially connected global world since when one stock market has a decline, it affects other markets negatively as well as the economy as a whole.
• Cultural globalization : refers to the interpenetration of cultures which, as a consequence, means nations adopt principles, beliefs, and costumes of other nations, losing their unique culture to a unique, globalized supra-culture;
• Political globalization : the development and growing influence of international organizations such as the UN or WHO means governmental action takes place at an international level. There are other bodies operating a global level such as NGOs like Doctors without borders  or Oxfam ;
• Sociological globalization : information moves almost in real-time, together with the interconnection and interdependence of events and their consequences. People move all the time too, mixing and integrating different societies;
• Technological globalization: the phenomenon by which millions of people are interconnected thanks to the power of the digital world via platforms such as Facebook, Instagram, Skype or Youtube.
• Geographic globalization: is the new organization and hierarchy of different regions of the world that is constantly changing. Moreover, with transportation and flying made so easy and affordable, apart from a few countries with demanding visas, it is possible to travel the world without barely any restrictions;
• Ecological globalization: accounts for the idea of considering planet Earth as a single global entity – a common good all societies should protect since the weather affects everyone and we are all protected by the same atmosphere. To this regard, it is often said that the poorest countries that have been polluting the least will suffer the most from climate change .

The Benefits of Globalization

Globalization has benefits that cover many different areas. It reciprocally developed economies all over the world and increased cultural exchanges. It also allowed financial exchanges between companies, changing the paradigm of work. Many people are nowadays citizens of the world. The origin of goods became secondary and geographic distance is no longer a barrier for many services to happen. Let’s dig deeper.

The Engine of Globalization – An Economic Example

The most visible impacts of globalization are definitely the ones affecting the economic world. Globalization has led to a sharp increase in trade and economic exchanges, but also to a multiplication of financial exchanges.

In the 1970s world economies opened up and the development of free trade policies accelerated the globalization phenomenon. Between 1950 and 2010, world exports increased 33-fold. This significantly contributed to increasing the interactions between different regions of the world.

This acceleration of economic exchanges has led to strong global economic growth. It fostered as well a rapid global industrial development that allowed the rapid development of many of the technologies and commodities we have available nowadays.

Knowledge became easily shared and international cooperation among the brightest minds speeded things up. According to some analysts, globalization has also contributed to improving global economic conditions, creating much economic wealth (thas was, nevertheless, unequally distributed – more information ahead).

Globalization Benefits – A Financial Example

At the same time, finance also became globalized. From the 1980s, driven by neo-liberal policies, the world of finance gradually opened. Many states, particularly the US under Ronald Reagan and the UK under Margaret Thatcher introduced the famous “3D Policy”: Disintermediation, Decommissioning, Deregulation.

The idea was to simplify finance regulations, eliminate mediators and break down the barriers between the world’s financial centers. And the goal was to make it easier to exchange capital between the world’s financial players. This financial globalization has contributed to the rise of a global financial market in which contracts and capital exchanges have multiplied.

Globalization – A Cultural Example

Together with economic and financial globalization, there has obviously also been cultural globalization. Indeed, the multiplication of economic and financial exchanges has been followed by an increase in human exchanges such as migration, expatriation or traveling. These human exchanges have contributed to the development of cultural exchanges. This means that different customs and habits shared among local communities have been shared among communities that (used to) have different procedures and even different beliefs.

Good examples of cultural globalization are, for instance, the trading of commodities such as coffee or avocados. Coffee is said to be originally from Ethiopia and consumed in the Arabid region. Nonetheless, due to commercial trades after the 11th century, it is nowadays known as a globally consumed commodity. Avocados , for instance, grown mostly under the tropical temperatures of Mexico, the Dominican Republic or Peru. They started by being produced in small quantities to supply the local populations but today guacamole or avocado toasts are common in meals all over the world.

At the same time, books, movies, and music are now instantaneously available all around the world thanks to the development of the digital world and the power of the internet. These are perhaps the greatest contributors to the speed at which cultural exchanges and globalization are happening. There are also other examples of globalization regarding traditions like Black Friday in the US , the Brazilian Carnival or the Indian Holi Festival. They all were originally created following their countries’ local traditions and beliefs but as the world got to know them, they are now common traditions in other countries too.

Why Is Globalization Bad? The Negative Effects of Globalization

Globalization is a complex phenomenon. As such, it has a considerable influence on several areas of contemporary societies. Let’s take a look at some of the main negative effects globalization has had so far.

The Negative Effects of Globalization on Cultural Loss

Apart from all the benefits globalization has had on allowing cultural exchanges it also homogenized the world’s cultures. That’s why specific cultural characteristics from some countries are disappearing. From languages to traditions or even specific industries. That’s why according to UNESCO , the mix between the benefits of globalization and the protection of local culture’s uniqueness requires a careful approach.

The Economic Negative Effects of Globalization

Despite its benefits, the economic growth driven by globalization has not been done without awakening criticism. The consequences of globalization are far from homogeneous: income inequalities, disproportional wealth and trades that benefit parties differently. In the end, one of the criticisms is that some actors (countries, companies, individuals) benefit more from the phenomena of globalization, while others are sometimes perceived as the “losers” of globalization. As a matter of fact, a recent report from Oxfam says that 82% of the world’s generated wealth goes to 1% of the population.

• Related: Globally, Business And Government Lack Trust, A New Survey Shows

The Negative Effects of Globalization on the Environment

At the same time, global economic growth and industrial productivity are both the driving force and the major consequences of globalization. They also have big environmental consequences as they contribute to the depletion of natural resources, deforestation and the destruction of ecosystems and loss of biodiversity . The worldwide distribution of goods is also creating a big garbage problem, especially on what concerns plastic pollution .

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Globalization, Sustainable Development, and CSR

Globalization affects all sectors of activity to a greater or lesser extent. By doing so, its gap with issues that have to do with  sustainable development  and  corporate social responsibility  is short.

By promoting large-scale industrial production and the globalized circulation of goods, globalization is sometimes opposed to concepts such as resource savings, energy savings or the limitation of greenhouse gases . As a result, critics of globalization often argue that it contributes to accelerating climate change and that it does not respect the principles of ecology. At the same time, big companies that don’t give local jobs and choose instead to use the manpower of countries with low wages (to have lower costs) or pay taxes in countries with more favorable regulations is also opposed to the criteria of a CSR approach. Moreover, the ideologies of economic growth and the constant pursuit of productivity that come along with globalization, also make it difficult to design a sustainable economy based on  resilience .

On the other hand, globalization is also needed for the transitioning to a more sustainable world, since only a global synergy would really be able to allow a real ecological transition. Issues such as global warming indeed require a coordinated response from all global players: fight against CO2 emissions, reduction of waste, a transition to renewable energies . The same goes for ocean or air pollution, or ocean acidification, problems that can’t be solved without global action. The dissemination of green ideas also depends on the ability of committed actors to make them heard globally.

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The Road From Globalization to Regionalization

Regionalization can also be analyzed from a corporate perspective. For instance, businesses such as McDonald’s or Starbucks don’t sell exactly the same products everywhere. In some specific stores, they consider people’s regional habits. That’s why the McChicken isn’t sold in India, whereas in Portugal there’s a steak sandwich menu like the ones you can get in a typical Portuguese restaurant.

Politically speaking, when left-wing parties are in power they tend to focus on their country’s people, goods and services. Exchanges with the outside world aren’t seen as very valuable and importations are often left aside.

• Related: Why Is It Important To Support Local And Small Businesses?

Globalization Quotes by World Influencers

Many world leaders, decision-makers and influential people have spoken about globalization. Some stand out its positive benefits and others focus deeper on its negative effects. Find below some of the most interesting quotes on this issue.

Politic Globalization Quotes

Globalization quote by the former U.S President Bill Clinton ??

No generation has had the opportunity, as we now have, to build a global economy that leaves no-one behind. It is a wonderful opportunity, but also a profound responsibility.

Globalization quote by Barack Obama , former U.S. president ??

Globalization is a fact, because of technology, because of an integrated global supply chain, because of changes in transportation. And we’re not going to be able to build a wall around that.

Globalization quote by Dominique Strauss-Kahn, former International Monetary Fund Managing Director ??

“We can’t speak day after day about globalization without at the same time having in mind that…we need multilateral solutions.”

Globalization quote by Stephen Harper , former Prime Minister of Canada ??

“We have to remember we’re in a global economy. The purpose of fiscal stimulus is not simply to sustain activity in our national economies but to help the global economy as well, and that’s why it’s so critical that measures in those packages avoid anything that smacks of protectionism.”

Globalization quote by Julia Gillard , Prime Minister of Australia ??

“My guiding principle is that prosperity can be shared. We can create wealth together. The global economy is not a zero-sum game.”

Other Globalization Quotes

Globalization quote by the spiritual leader Dalai Lama ??

“I find that because of modern technological evolution and our global economy, and as a result of the great increase in population, our world has greatly changed: it has become much smaller. However, our perceptions have not evolved at the same pace; we continue to cling to old national demarcations and the old feelings of ‘us’ and ‘them’.”

The famous German sociologist Ulrich Beck also spoke of globalization ??

“Globalization is not only something that will concern and threaten us in the future, but something that is taking place in the present and to which we must first open our eyes.”

Globalization quote by Bill Gates, owner and former CEO of Microsoft ??

“The fact is that as living standards have risen around the world, world trade has been the mechanism allowing poor countries to increasingly take care of really basic needs, things like vaccination.”

Globalization quote by John Lennon, member of the music band The Beatles ??

Imagine there’s no countries. It isn’t hard to do. Nothing to kill or die for. And no religion, too. Imagine all the people. Living life in peace. You, you may say I’m a dreamer. But I’m not the only one. I hope someday you will join us. And the world will be as one

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• Globalisation Essay

Essay on Globalisation

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is connecting in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. 

Globalization began thousands of years ago when people and companies bought and sold in distant lands. In the Middle Ages, Central Asia was connected to China and Europe via the famous Silk Road. After World War II and the last two decades, governments of many countries have adopted free-market economies. They have greatly increased their own production potential and created countless new opportunities for international trade and investment. New routes and means to transport goods have been discovered, which has allowed the people to expand their business easily and efficiently. 

The government has reduced all trade barriers and concluded new international agreements to promote trade in goods, services and investment. This profitable action has created opportunities for international trade. In foreign markets, companies with these new opportunities set up new factories and establish production and marketing relationships with foreign partners. Hence, Globalization is defined as an international industrial and financial enterprise.

Overview of Globalization

Globalization means the assimilation of economics and societies through the flow of information, ideas, technologies, goods, services, capital, finance, and people. The real meaning of Globalization in a broad sense is connectivity in all aspects of human life. It is the process where the businesses or other organizations expand international authority or start operating on an international scale.

How the Existence of Globalization Came Into Being?

Globalization had started many thousands of years ago when people and corporations were buying and selling across lands at great distances. In the middle age, Central Asia connected with China and Europe through the famed Silk Road. After the Second World War II and during the last two decades, the governments of many countries have adopted free-market economic systems. They increased their own productive potential immensely and created innumerable new opportunities for international trade and investment.

The governments have reduced all barriers to commerce and established new international agreements to promote trade in goods, services and investments. These beneficial measures gave rise to opportunities for global trade. With these new opportunities in the foreign markets, corporations established new factories and started production and marketing alliances with foreign partners. Hence, Globalization is defined as an international industrial and financial business structure.

Advantages and Disadvantages

The frontiers of the state with increased confidence in the market economy and renewed policies in the private capital and resources, a process of structural adjustment spurred by the studies and with the support of the World Bank and other international organizations have started in many of the developing countries. Globalization has also brought in new opportunities to developing countries. Greater access to developed country markets and technology transfer has promised to improve their productivity and higher standards. 

At the same time, Globalization has also created challenges like growing inequality across and within nations, instability in the financial market and environmental deterioration. Globalization is a fascinating exhibition that can be understood as a global system of competition and connectivity. It has created tough competition among countries and global corporations.

Impact of Globalization in India

The British Colonial rule had destroyed the self-sufficient economy of India and left India to be the poorest Independent country. Our first Prime Minister gave preference to a mixed economy to boost the economic condition of the country. Public sectors were set up along with the private enterprises, but because of the socialistic model of the economy, the new strategy did not produce profitable results. Due to this, a number of public sectors became sick and the growth rates of production began to fall. 

During that time, the poverty of the people in India was increasing at an alarming rate and because of low domestic savings and acute balance of payment crisis, there was no adequate capital for investment. During that time of crisis, Prime Minister PV Narsimha Rao introduced the policy of liberalization, privatization to overcome the financial situation. 

India opened up to Globalization after the economic policy of 1991 came into force. Mounting debts and pressure from the International Monetary Fund drove the nation to go global. The process of Globalization has been an integral part of the recent economic growth of India. Globalization has played a very significant role in the growth of export, leading to the expansion of the job market in India. One of the major sectors of Globalization in India has been in the growth of outsourced IT and Business Process Outsourcing services. There has been an incredible increase in the number of skilled professionals in India employed by domestic and foreign companies to cater service to the customers globally, especially in the USA and Europe. 

There was not a doubt that Globalization in India brought a monumental change in the living standards of the people. People in India realized many benefits from Globalization. The establishment of multinational companies generating billions of jobs and access to umpteen numbers of brands and an increase in the forex reserves of the country took India to a higher platform globally. Despite this monumental change in the economy of the country, India also faced the challenges of severe competition from the foreign market and the domestic producers started fearing marginalization and pulverization because of the better quality products produced by the foreign producers.

Globalization had both desirable and undesirable consequences for India and the world. Even though it has accelerated progress in some countries, it has also widened the gap between the rich and the poor.

The impact of Globalization has been both positive and negative on the entire world, but we can surely hope for more advancement in the global economy due to this process.

FAQs on Globalisation Essay

1. How Did Globalization Help India to Improve the Economic Conditions?

Globalization generated umpteen employment opportunities for the people of India by establishing multinational companies. The policy of liberalization and privatization invited foreign traders to do business with India. This has increased the inflow of men, money, material, labor, technology, etc., from foreign countries to India. People have access to foreign brands and the living standards have improved drastically.

2. How is Globalization a Threat to Domestic Producers?

The domestic producers fear marginalization and pulverization because of the entry of foreign and better quality products.

3. What are the advantages and disadvantages of Globalization?

With increasing confidence in market economies and new policies on private capital and resources, many developing countries are beginning to adapt to developments with the support of the World Bank and other international institutions involved in research and development. Globalization also offers new opportunities for developing countries. Greater access to markets in developed countries and the transfer of technology will increase their productivity and demand.

At the same time, Globalization has created challenges such as increasing inequality between and within countries, instability of financial markets and environmental degradation. Globalization is an interesting exhibition that can also be seen as a system of competition and international relations. This has created intense competition between countries and international companies. 

4. What do you mean by Globalization?

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is a connectedness in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. Globalization has its own benefits and drawbacks. We can learn more about Globalization and how to write an essay on it in detail on the Vedantu website, which has all the necessary materials that students need in order to write an essay on Globalization. 

5. How can Globalization help India improve its economic situation?

In our present times, Globalization has been a boon to many people as it not only allows companies to expand their business but also makes things accessible for everyone. In a simple sense, we can say that it helps in connecting people with the world. Globalization has created many job opportunities in India through the creation of multinational companies. Policies of liberalization and privatization have encouraged foreign traders to trade with India. This has increased the number of people, money, materials, labor, technology and so on—inflows from abroad to India. People have access to foreign brands and the standard of living has improved significantly.

6. How does Globalization threaten domestic producers?

Domestic producers are afraid of marginalization and due to the entry of foreign and better quality products into the market. Globalization can be associated with increasing income and wealth inequality. Many of the world's poorest people lack access to basic technologies and public goods. They are excluded from treatment. Some critics of globalization point to the loss of economic and cultural diversity as international multinational giants and brands dominate domestic markets in many countries. Globalization can hinder competition if international companies with dominant brands and high technology gain a foothold in key markets, be it telecommunications, the automotive industry, and so on.

7. What are the main industries that have grown tremendously because of Globalization?

The integration of national economies into the global economy is one of the most important developments of the last century. This process of integration, often referred to as Globalization, has manifested itself in a tremendous increase in cross-border trade.

The outsourcing business has grown exponentially due to Globalization. The main industries resulting from Globalization are trade and commerce. Automobile companies, clothing manufacturers and transportation, are the three main industries taken over as a result of Globalization.

What is globalization anyway?

Let's find out what is globalization Image:  REUTERS/Nicky Loh

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Globalization – a phenomenon that has defined the world's economy in recent decades – is under pressure. As Donald Trump prepares for his tenure in the White House, he talks of dismantling a whole history of globalized trade that he sees as having had a catastrophic effect on the global economy.

His strategy so far has involved tearing up established trade agreements, such as NAFTA, and burying others that are yet to get off the ground. One of these is the Trans-Pacific Partnership, which he has slammed as “a potential disaster for our country”. The incoming president's pledge to "make America great again" is based partly on challenging countries such as China by limiting imports and boosting exports.

But the backlash against globalization is not confined to the United States. In the United Kingdom, the Brexit vote saw a majority of citizens prioritize immigration controls over membership of the world’s biggest trading bloc. Those who wished to remain in the EU accused those who wished to leave of being protectionist, even racist – but much of the concern over immigration stemmed from fears (real or imagined) over the number of new people arriving on British shores and what it would mean for jobs, the economy and British life as they knew it.

If globalization is facing a fundamental threat, perhaps now is a good time to remind ourselves of exactly what it is.

How globalization works

In simple terms, globalization is the process by which people and goods move easily across borders. Principally, it's an economic concept – the integration of markets, trade and investments with few barriers to slow the flow of products and services between nations. There is also a cultural element, as ideas and traditions are traded and assimilated.

Globalization has brought many benefits to many people. But not to everyone.

What is globalization - economic angle

To help explain the economic side of globalization, let's take a look at the well-known coffee chain Starbucks.

The first Starbucks outlet opened its doors in 1971 in the city of Seattle. Today it has 15,000 stores in 50 countries. These days you can find a Starbucks anywhere, whether Australia, Cambodia, Chile or Dubai. It's what you might call a truly globalized company.

And for many suppliers and jobseekers, not to mention coffee-drinkers, this was a good thing. The company was purchasing 247 million kilograms of unroasted coffee from 29 countries. Through its stores and purchases, it provided jobs and income for hundreds of thousands of people all over the world.

But then disaster struck. In 2012, Starbucks made headlines after a Reuters investigation showed that the chain hadn't paid much tax to the UK government, despite having almost a thousand coffee shops in the country and earning millions of pounds in profit there.

As a multinational company, Starbucks was able to use complex accounting rules that enabled it to have profit earned in one country taxed in another. Because the latter country had a lower tax rate, Starbucks benefited. Ultimately, the British public missed out, as the government was raising less tax to spend on improving their well-being.

How did globalization happen?

We might think of globalization as a relatively new phenomenon, but it’s been around for centuries.

One example is the Silk Road, when trade spread rapidly between China and Europe via an overland route. Merchants carried goods for trade back and forth, trading silk as well as gems and spices and, of course, coffee. (In fact, the habit of drinking coffee in a social setting originates from a Turkish custom, an example of how globalization can spread culture across borders.)

Have you read?

Globalization and the us election: we need to take the voices of the discontented more seriously, the fourth industrial revolution disrupted democracy. what comes next, populism is spreading. this is what's driving it, what drives globalization .

Globalization has speeded up enormously over the last half-century, thanks to great leaps in technology.

The internet has revolutionized connectivity and communication, and helped people share their ideas much more widely, just as the invention of the printing press did in the 15th century. The advent of email made communication faster than ever.

The invention of enormous container ships helped too. In fact, improvements in transport generally – faster ships, trains and airplanes – have allowed us to move around the globe much more easily.

What's good about it?

Globalization has led to many millions of people being lifted out of poverty.

For example, when a company like Starbucks buys coffee from farmers in Rwanda, it is providing a livelihood and a benefit to the community as a whole. A multinational company's presence overseas contributes to those local economies because the company will invest in local resources, products and services. Socially responsible corporations may even invest in medical and educational facilities.

Globalization has not only allowed nations to trade with each other, but also to cooperate with each other as never before. Take the Paris Agreement on Climate Change , for instance, where 195 countries all agreed to work towards reducing their carbon emissions for the greater global good.

This chart, however, shows that global attitudes towards globalizing forces aren't all that good. It shows that, in fact, in all but a couple of countries polled, people believe life was better in the old days.

What's bad about globalization ?

While some areas have flourished, others have floundered as jobs and commerce move elsewhere. Steel companies in the UK, for example, once thrived, providing work for hundreds of thousands of people. But when China began producing cheaper steel, steel plants in the UK closed down and thousands of jobs were lost.

Every step forward in technology brings with it new dangers. Computers have vastly improved our lives, but cyber criminals steal millions of pounds a year. Global wealth has skyrocketed, but so has global warming.

While many have been lifted out of poverty, not everybody has benefited. Many argue that globalization operates mostly in the interests of the richest countries, with most of the world's collective profits flowing back to them and into the pockets of those who already own the most.

Although globalization is helping to create more wealth in developing countries, it is not helping to close the gap between the world's poorest and richest nations. Leading charity Oxfam says that when corporations such as Starbucks can legally avoid paying tax, the global inequality crisis worsens .

Basically, done wisely (in the words of the International Monetary Fund ) globalization could lead to "unparalleled peace and prosperity". Done poorly, "to disaster".

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World History Project - 1750 to the Present

Course: world history project - 1750 to the present   >   unit 9, read: introduction to globalization.

• BEFORE YOU WATCH: Globalization I - The Upside
• WATCH: Globalization I - The Upside
• READ: The Trouble with Globalization
• READ: Is the World Flat or Spiky?
• Introduction to an Age of Intense Globalization

First read: preview and skimming for gist

Second read: key ideas and understanding content.

• What late twentieth-century trends, according to the author, led people to create the term “globalization”?
• What are some historical trends that accelerated globalization before the late twentieth century?
• What are some impacts of globalization in terms of migration and economics?
• What are some positive impacts of globalization, according to the author?
• What are some negative impacts of globalization, according to the author?

Third read: evaluating and corroborating

• What does globalization look like from your perspective? How does it affect your family and community? Do you think it has been a good thing for you? Why or why not?
• Globalization looks very differently studied through each of the three course frames. Pick one of the three course frames and describe the effects of globalization on your home town or neighborhood using only that frame narrative. How would your results have been different if you had chosen a different frame?

Introduction to Globalization

What is globalization, globalization’s effect on communities and economies, the pros and cons of globalization, want to join the conversation.

What Does Globalization Mean to You?

From the archives, by Wallie Dayal

The concept of globalization challenges all of us, whether it knowingly touches our lives or whether we have not given it any thought at all. Of the 10 professionals to whom I posed this question, one third had not given this topic any thought. Each of the others had a ready answer:

• It means communication, interconnectedness.
• It means accomplishing things easier, cheaper, and quicker.
• Something on a bigger scope than local.
• It means opportunity, reducing trade barriers, growth.
• It means that there are many different ways to do things, all of which are valid in their own right.
• It means a composite of things, an aggregate view.
• It means reallocating resources away from poorer nations to wealthier nations.
• Its meaning depends on your point of view.

In the end, our point of view determines how we see the world. We can thank globalization for cheap consumer goods from Japan, southeast Asia, and other parts of the world. Without it, instant communication with friends in other countries would only be a dream; instead we can visit our friends in distant parts of the globe within the span of a few hours. The media bombard us with messages and meanings about globalization, which resonate with our understanding of the concept. It spells euphoria and unlimited potential for some, destitution, fear of survival, hopelessness and despair for others. Globalization is a medium which touches nearly every aspect of contemporary live in the ëcivilized’ world. We consume products whose familiar names mask that their components have been manufactured in distant lands. For consumers, product selection is rich, colorful and reasonably priced. Buying only American-made products is not a realistic option for the average consumer; a full complement of American-made products for day-to-day living is simply not available.

Globalization is the engine of trade and of explosive economic prosperity in the US and, conversely of devastating economic malaise in Southeast Asia. This extreme polarity finds expression in uncertainty about the future and in volatile financial markets.

Historically, the victor’s perspective of conventional wars has been reflected in history books. At present, economic victors are putting their spin on the definition of globalization, while ascribing fault, such as crony- capitalism in southeast Asia, to the losers. For now, the argument of the victorious stands. Their worldview is shaped and disseminated. And yet, sooner or later, it will be replaced by the next argument, equally compelling, equally buttressed with statistics. Not long ago, Japan occupied the economic driver’s seat which is occupied by the US today.

Globalization is a dynamic concept of universal proportions. All of us are in its inexorable grip whether we support it or not, understand it or not. Even those who have spent much time and effort understanding globalization cannot rest on their laurels. Change is ever-present and yesterday’s besieged has the potential to be tomorrow’s victor. Alternatively, we can make use of the communication tools and resources which globalization has put at our fingertips to forge cooperative efforts and trans-global relationships of mutual understanding and prosperity not yet seen. In such a world, multilateral winners could make the historical win/lose cycle obsolete.

For now, globalization can only be defined point in time by point of view. Whether we choose to be participants or spectators during the globalization process, our understanding of it will grow and evolve as globalization forces transform the world we live in today.

A Personal View

Globalization offers me the opportunity to explore and enrich a new frontier for my German-English-speaking clients by identifying pitfalls and booby traps in their trans- national business activities.

German-speaking business people, a proud and highly educated group, they have traditionally relied solely on their school English as adequate preparation for doing business with English-speaking business partners. This reliance rested on the mistaken belief that a large number of Americans are just like German-speaking Europeans, with one exception, they speak English. While some have recovered from the lashings and bruises of their trans-continental encounters, others have retreated to relative isolation after suffering substantial financial loss.

During the current phase of globalization, I often get a chance to participate in international management training classes, at board meetings and business meetings where I often occupy a privileged position: I am able to coax along and bring about new connections, a deeper understanding, new possibilities for collaboration and insights. Lights go on in the heads of business executives; they begin to understand how a business process functions in the other culture and that this process is not wrong because it is different, but just as valid and good within its own context. Often, such realizations open new horizons and possibilities for constructive collaboration.

Even when transcontinental business partners speak the same language, the international language of business: English, communication is often elusive. For example, when a German managing director unambiguously asserts his priorities, his commitments to his employees, and his American partner is just as unambiguous about his priority, to improve the bottom line next quarter, language difference is not the issue. The first priority of this ërational’ American businessperson is the bottom line, while for this German executive, being ërational’ puts his reputation, his word in first place.

Worldviews, values and culture, in addition to personality and company differences are at issue here. Today, in the global age we are increasingly recognizing our global interdependence and our respective uniqueness, we are learning that there are other valid approaches, besides our own. And therein lies much of the richness, beauty and possibilities of globalization. Navigating along the jagged ridges which separate cultures, helping alternately one side and then the other to get a better view and understanding of the other side is challenging and rewarding. Helping the parties to ultimately reach agreement, which allows both partners to scale, the mountain ahead with combined strength and momentum, that is the thrill of globalization for me. Knowledge Branches :

• Management . Function: Globalization
• Management . Sector: RELEVANT ACROSS SECTORS

Globalization Essay

Argumentative essay evaluation, checklist for essay writing.

The word globalization can be defined as the world greatest and most important force, which has an impact on economy (Mostert, 2003). In some cases, globalization can again be regarded as a whirlwind of basically relentless changes, which sometimes can leave most governments helpless and full of economical problems.

In actuality globalization, globalization has contributed to economic developments in most developing countries, which are also regarded as the founders of globalization and its implementation. In my own opinion, I hold the view that the globalization process is more beneficial to developing countries than it is to developed countries.

It is ’s clearly evident that globalization has done more good in terms of development specifically in developing poor countries. In actuality, the concept of free trade liberalization has created a favorable scenario where those who possess a lot of capital are able to disburse to those who don’t have in form of wages and salaries.

In the real sense, the wage, be it exploitative or not, will at least raise the productivity or development of the individual persons earning it. It is clear that in many poor developing countries, there is access to cheap labor and various types of natural resources (Horwitz, 2010).

This attracts international firms to do business in such regions, based on this trend, for instance, we can already see how globalization is beneficial to both developing countries and developed countries. This is because developing countries benefits from increased job opportunities etc while developed countries benefit from cheap labor and resources.

The fact that more western countries established more and more companies in the developing countries was expected to believed will help accelerate their profits by taking advantage of the available as a result of the availability of cheap labor and the presence of natural resources found in the developing countries (Horwitz, 2010).

On the other hand people in the developing countries count on the development as a rare opportunity for improving infrastructure and general development in the country. In addition, the local citizens are also able to gain free knowledge and skills when working for companies owned by developed countries. Even though the wages given you are is considerably low, it had a greater impact on the citizens of developing countries who have used it to boost their living standards (Horwitz, 2010).

Furthermore, it has been postulated criticized that the developed countries would become poor when using their capital on investments in developing countries but the investment of these funds was necessary to spur further growth of the developing countries (Curran, 2010).

This strategy while it has facilitated growth in developed countries because of the generated huge profits has enabled these countries to quickly grow experience accelerated growth and also catalyzed proportional economic growth in developing countries.

I posit believe that even though the developed countries are exploitatively using the developing countries for acquisition of cheap raw materials and labor, I strongly support the fact that in at the long run, the beneficiary would be the developing country since these countries would have remained undeveloped for decades if it were not for the globalization revolution.

This is because, out of the mutual relationship perceived to exist between the two parties, citizens of the developing countries also benefit from wages, formal knowledge, and experience that they gains which they continue to apply in their local context.

The more free trade continues to exist between the western and developing countries, the more the third countries country keep benefiting from the relationship. This has enabled heavy investments setups to be established in the third countries by the rich western firms.

However, it remains true that the truth is that no matter how the rich western firms improve on their profits making, most of their money in at the long run is again spent back to fund more investments or exploration for better technology most of the time in the same developing or undeveloped countries (Horwitz, 2010).

Those who refute this claim argue that as far as the western countries (who are always considered to be highly developed, and the first world countries) keep on investing more and more of their money pumping millions of their money on investments in the developing countries, their interest rates still appreciate they still appreciate their interest rates and they are also able also have time to explore and improve on new technological developments (Curran, 2010). This opposition can be considered to be factual.

However, only that it is not strong enough to counter counsel the fact that, the more as far as the developed countries continue to invest and expand their trade boundaries through investments, the more the citizens of the developing countries benefits. This is because they will benefit from this contact with the first world be informed of new things reducing their level of primitivity through the formal and technological knowledge, as well as the and practical skills that they gain.

While I don’t wish to claim that This hardly means that the developed countries don’t are not benefiting as well., The proportion of their benefit however is not as much as that gained by the developing countries because they mainly benefit in terms of cheap labor and raw materials as we have already seen

Additionally, as a result of globalization, free trade has managed to promote international peace since it is obvious that countries trading together have got a mutual interdependence, which reduces cases of global conflicts. Opponents of this idea counter strongly oppose this argument, although there are some countries though by positing that even though some counties are being good trade partners, they are perpetually involved in conflicts mainly over right to resources (Curran, 2010).

In addition to this, some developed countries, due to hunger for raw materials, will opt to fund rebel groups within the developing countries so as to destabilize their governments by causing chaos and security instability within the country which will give them the opportunity and thus gain free access to exploit such resources. A good example of such a situation is currently happening in the Democratic Republic of republic of Congo in Central Africa.

But after reviewing this argument, certain weaknesses in its formulation become evident. I totally disagree with this argument For instance, given that globalization cannot be solely blamed for this form of conflicts. Historically, before globalization came into the picture, there were many civil and religious wars taking place between communities in the developing countries.

In fact, one might be tempted to argue that the emergence of globalization has actually reduced the rate of such conflicts if the present trend is anything to go by. For instance, because of globalization, interregional trade was established., This free trade and interaction between countries has promoted mutual friendship which has in turn and this has greatly reduced the former incidents of war between countries.

Through globalization many developing countries have gradually increased their wealth and accelerated modern development. This is because of free trade and accessibility of loans, which has resulted in to economic growth in most developing countries. As a result of economic growth, citizens of developing countries can now easily access funds to finance modern facilities and systems of education to reduce illiteracy.

Those who are against this idea considerably agree that globalization has brought increased rates of economic growth. However, their argument point at inequalityies in development as a result of trade among many nations. The rich countries, for instance, set up trade laws primarily to benefit themselves. them only Partly due to these laws, citizenry from third world countries continue to experience worsening economic conditions. such that only the poor people who will be left out worsening their situations; this is partly true (Curran, 2010).

The richest countries are claimed to be the ones more involved in open global economy, which is quite unfair for the poor countries, which have been sidelined. The western countries use openness as a methodology employed to boost their economy at the expense of poor and developing countries.

A recent research by Oxfam revealed that most developing countries embrace openness as a trade strategy ies copied from western countries yet they end up being poor or have achieved very little. The best example of such a scenario is being Haiti, which who threw open its their economy and is are the most poorest country is in the world (Curran, 2010).

This is because of poor interpretation of the word openness, which has two meanings. It either refers to economic outcomes on imports and exports or it can also refer to the government policy of opening up and increase the exportations (Curran, 2010). To a certain extend extent, this argument can be considered to be true but one must also understand that the policies of the developing countries and politics also contribute to this outcome.

But globalization has also benefited most developing countries in terms of trade. The formal trade systems established in developing countries by the western countries have made many local countries to abandon their indigenous systems of trade. For example, barter trade was abandoned when countries crossed their boundaries for internationally trade. It is in such venues, where most developing countries developed international friendship.

As a result, they benefited from loans rich countries since and banks were all willing to guarantee the developing countries’ loans because trade goods from developing countries could be used as collateral (Lowry, 2010). As a result, the people’s living conditions have gradually improved, including better salaries to the locals and also promoted international peace.

Thus, we can see how trade can be a powerful tool for spurring prosperity and poverty reduction. Nevertheless, the current trade rules set up by western countries are very unfair; this is because, these is trade rules have been deliberately designed as a tool to oppress the poor and developing countries for the benefit of the developed countries. It is unfair to claim that trade is free yet all the rules have been rigged up only to benefit western countries (Curran, 2010).

For example, a poor African coffee farmer will at no time bargain with a big European coffee conglomerates over world coffee prices; This is a case of a buyer dictating the price at which they will buy instead of the other way round. As an effect of globalization, it is only the rich who benefits from these is trade rules and for it to work for the poor, then it must be made free than it is currently (Curran, 2010).

Free trade is always considered to be necessary but not sufficient for the countries’ development. One of the most progressive projects in the human history 200 years ago was the attempt to completely open up the whole world to free trade as this would empower anyone to have free access to goods and people’s services anywhere even in developed western countries (Horwitz, 2010). Such policies really enabled most people to best use their local knowledge towards their individual benefits. In At the long run, many people from developing countries have been the greatest beneficiaries; this is so because third world countries are always considered to be behind in terms of development.

According to the World Bank “further integrations into the world markets, better functioning of the internal markets and the rising demands of many commodities,” are some of the economic growth being experienced by most developing countries as a result of globalization (Lowry, 2010). In summary, it is evident that most developing countries are taking advantage of developed western countries, which are through with their economic development to seek for technological support and modern systems of medical treatments.

As a matter of fact, globalization reduces the rates of mortality such that a lot of resources can be availed to fight some of the most killer diseases that burden most developing countries. International friends will also be available to help reduce mortality rates in the developing countries whenever there is a disease outbreak through humanitarian initiatives, which are concepts of globalization (Hoffman, 2010). This further shows how globalization has benefited the developing countries most.

According to Lancet, the main substantial proportion cause of deaths among many infants is malnutrition. that states, “When a developing country gets more and more wealthy, it automatically depicts that citizens there will be less likely to be malnourished” (Lowry, 20101). Furthermore, the wealth will enable the government to improve on infrastructure, increase access to clean water, medical facilities, and practice good sanitation. This means there will be few cases of diseases, malnutrition and the mortality rate will be highly reduced (Lowry, 2010).

On the other hand it is not logical to claim that, where there is wealth there is no death since malnutrition for instance is not the only cause of death as there are many other genetic complications, accidents, parental carelessness and other diseases like AIDS which can cause death.

But since poverty is the biggest cause of deaths increased income will always empower people to seek better treatments and medical checkups. Money will also enable one to access clean water and balanced diet, which are some of the preventive strategies used globally to reduce disease prevalence.

Based on the evidence that we have so far reviewed here, it is clear that globalization while it has benefitted developed countries has principally benefited developing and developed countries. Indeed, it is only with the advent of globalization that major strides in economic development has been able to be achieved by majority of countries world over, majority of which were in the category of the poorest countries.

Curran, D., (2010). Globalization does not benefit developing nations .

Hoffman, M., (2010). Job losses and perceptions of globalization. Journal of wWorld tTrade . 2010. 44 (5): 969.

Horwitz, S. (2010). Globalization benefits developing nations .

Lowry, R. (2010). Globalization is good for the poor of the world .

Mostert, J. (2003). The impact of globalisation on developing countries, 35. Proceedings from ESSA conference 17 –19 September 200. Somerset West . Web.

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IvyPanda. (2024, February 27). Globalization. https://ivypanda.com/essays/globalization-essay-3/

"Globalization." IvyPanda , 27 Feb. 2024, ivypanda.com/essays/globalization-essay-3/.

IvyPanda . (2024) 'Globalization'. 27 February.

IvyPanda . 2024. "Globalization." February 27, 2024. https://ivypanda.com/essays/globalization-essay-3/.

1. IvyPanda . "Globalization." February 27, 2024. https://ivypanda.com/essays/globalization-essay-3/.

Bibliography

IvyPanda . "Globalization." February 27, 2024. https://ivypanda.com/essays/globalization-essay-3/.

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Globalization Essay

The process of globalization involves the exchange of goods, people, technologies, information, etc. on a global scale. Globalization is a global phenomenon and is responsible for economic boost in several countries. Here are a few sample essays on globalisation.

100 Words Essay On Globalisation

Globalisation is the process of spreading products, services, concepts, ideas, information , etc. across the world. The economy of the nation benefits greatly from globalisation. Globalisation is spreading products, services, concepts, ideas, information, etc., across the world. It refers to cross-border commercial and commerce connections. Globalisation raises the country's population's standard of living. New developments and technology improve our lives as a result of globalisation. Globalisation can be divided into three categories—political, cultural, and economic . Globalisation gives people access to new career opportunities. As a result of globalisation, people can benefit from affordable goods. As a result of globalisation, the wealthy are more profitable while the poor suffer. Environmental issues are also growing in the country as a result of globalisation.

200 Words Essay On Globalisation

These days, practically everyone is familiar with the globalisation process. It is a global process that involves the transfer of goods, knowledge, and people. Here, we'll talk about several aspects of globalisation—

What Globalisation Means

The term "globalisation" originated from the word "globalise," which denotes the creation of a global economic network.

Globalisation Definition

Globalisation refers to the act of giving and taking place on a global scale in which products, information, and technologies are exchanged. Globalisation is a global commerce organisation, to put it simply.

Indian Globalisation

During the 1990s, while Manmohan Singh was India's honorary finance minister, the country underwent globalisation. It was a good era for India, and throughout this time it slowly but surely rose to become one of the world's most important economic powers. There is no denying that India has one of the world's fastest-growing economies. We cannot ignore the reality that India's standard of living improved, and poverty significantly decreased during that time. There are several advantages of globalisation for India. It has improved people's lives by enhancing their lifestyles, and in the days to come, there will be many more improvements that will be good for Indian citizens.

Globalisation is a crucial component of existence that enables trade across nations. It improves people's lives in so many ways and also aids in strengthening our nation's economy.

500 Words Essay On Globalisation

The process or the act of transferring goods, knowledge, techniques , etc., from one country to another is known as globalisation. Additionally, it promotes cordial relations between various nations. It aids in knowledge expansion and level of living maintenance.

Features of Globalisation

Associating Societies | Globalization fosters positive relationships between societies by connecting those within the region and those outside of it.

International Trade Facilitated | International economic integration was made possible by globalisation. It made a significant contribution to world output as well.

Global Tourism | A key factor in enabling global tourism was globalisation. People developed an interest in travelling for trade purposes and generated significant amounts of money. Global brands are products that cater to countries with better or lower incomes due to globalisation.

Movement of Laborers | The migration of labourers was encouraged by globalisation. Labourers moved in great numbers from one area to another or from one country to another.

Categories of Globalisation

The three main forms of globalisation are as follows—

Financial World Wideization | One of the most significant aspects of globalisation is economic globalisation. It is the expansion of global economies' interdependence. Additionally, it describes how frequently goods, products, capital, information, technologies, etc. are moved internationally. A strong transportation network and the development of effective telecommunications have facilitated the rapid expansion of economic globalization.

Regional Culturalisation | The second most significant aspect of globalization is cultural globalization. It also covers the transfer of thoughts, values, meaning, and culture to strengthen social ties with other countries and areas. The exchange of several civilizations occurs in this way.

Globalization of Politics | The third main aspect of globalisation is political globalisation. We can infer from the word "political" that it must have to do with politics. Political globalisation is the process of expanding the international political order. Simply put, political globalization is the growth of a world political order.

Benefits and Drawbacks of Globalization

Benefits | We have been exposed to several new cultures as a result of globalisation. Because of globalisation, we may now experience other people's cultures, cuisine, music, and other things. We've also been exposed to a lot of new technologies—it has never been simpler to remain in touch with people than it is now. Additionally, it has become simpler to transport the data as quickly as it is now.

We now have easier access to cheaper goods thanks to globalisation. Lower product prices make it easier for consumers to sustain their lifestyles. People have started evolving their way of life at the same time that the country is developing as a result of globalisation. They now adhere to the idea of maintaining their standards at a high level. The demand for workers is rising along with the number of businesses. Therefore, globalisation has also led to a rise in employment.

Drawbacks | MNCs frequently treat their workforce unfairly. They force people to work as many hours as possible without compensating them fairly. They find it harder and harder to handle their family and have fulfilling lives in this exploitative manner.

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Product manager.

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Stock Analyst

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Highway Engineer Job Description:  A Highway Engineer is a civil engineer who specialises in planning and building thousands of miles of roads that support connectivity and allow transportation across the country. He or she ensures that traffic management schemes are effectively planned concerning economic sustainability and successful implementation.

Field Surveyor

Are you searching for a Field Surveyor Job Description? A Field Surveyor is a professional responsible for conducting field surveys for various places or geographical conditions. He or she collects the required data and information as per the instructions given by senior officials. 

Orthotist and Prosthetist

Orthotists and Prosthetists are professionals who provide aid to patients with disabilities. They fix them to artificial limbs (prosthetics) and help them to regain stability. There are times when people lose their limbs in an accident. In some other occasions, they are born without a limb or orthopaedic impairment. Orthotists and prosthetists play a crucial role in their lives with fixing them to assistive devices and provide mobility.

Pathologist

A career in pathology in India is filled with several responsibilities as it is a medical branch and affects human lives. The demand for pathologists has been increasing over the past few years as people are getting more aware of different diseases. Not only that, but an increase in population and lifestyle changes have also contributed to the increase in a pathologist’s demand. The pathology careers provide an extremely huge number of opportunities and if you want to be a part of the medical field you can consider being a pathologist. If you want to know more about a career in pathology in India then continue reading this article.

Veterinary Doctor

Speech therapist, gynaecologist.

Gynaecology can be defined as the study of the female body. The job outlook for gynaecology is excellent since there is evergreen demand for one because of their responsibility of dealing with not only women’s health but also fertility and pregnancy issues. Although most women prefer to have a women obstetrician gynaecologist as their doctor, men also explore a career as a gynaecologist and there are ample amounts of male doctors in the field who are gynaecologists and aid women during delivery and childbirth. 

Audiologist

The audiologist career involves audiology professionals who are responsible to treat hearing loss and proactively preventing the relevant damage. Individuals who opt for a career as an audiologist use various testing strategies with the aim to determine if someone has a normal sensitivity to sounds or not. After the identification of hearing loss, a hearing doctor is required to determine which sections of the hearing are affected, to what extent they are affected, and where the wound causing the hearing loss is found. As soon as the hearing loss is identified, the patients are provided with recommendations for interventions and rehabilitation such as hearing aids, cochlear implants, and appropriate medical referrals. While audiology is a branch of science that studies and researches hearing, balance, and related disorders.

An oncologist is a specialised doctor responsible for providing medical care to patients diagnosed with cancer. He or she uses several therapies to control the cancer and its effect on the human body such as chemotherapy, immunotherapy, radiation therapy and biopsy. An oncologist designs a treatment plan based on a pathology report after diagnosing the type of cancer and where it is spreading inside the body.

Are you searching for an ‘Anatomist job description’? An Anatomist is a research professional who applies the laws of biological science to determine the ability of bodies of various living organisms including animals and humans to regenerate the damaged or destroyed organs. If you want to know what does an anatomist do, then read the entire article, where we will answer all your questions.

For an individual who opts for a career as an actor, the primary responsibility is to completely speak to the character he or she is playing and to persuade the crowd that the character is genuine by connecting with them and bringing them into the story. This applies to significant roles and littler parts, as all roles join to make an effective creation. Here in this article, we will discuss how to become an actor in India, actor exams, actor salary in India, and actor jobs. 

Individuals who opt for a career as acrobats create and direct original routines for themselves, in addition to developing interpretations of existing routines. The work of circus acrobats can be seen in a variety of performance settings, including circus, reality shows, sports events like the Olympics, movies and commercials. Individuals who opt for a career as acrobats must be prepared to face rejections and intermittent periods of work. The creativity of acrobats may extend to other aspects of the performance. For example, acrobats in the circus may work with gym trainers, celebrities or collaborate with other professionals to enhance such performance elements as costume and or maybe at the teaching end of the career.

Video Game Designer

Career as a video game designer is filled with excitement as well as responsibilities. A video game designer is someone who is involved in the process of creating a game from day one. He or she is responsible for fulfilling duties like designing the character of the game, the several levels involved, plot, art and similar other elements. Individuals who opt for a career as a video game designer may also write the codes for the game using different programming languages.

Depending on the video game designer job description and experience they may also have to lead a team and do the early testing of the game in order to suggest changes and find loopholes.

Radio Jockey

Radio Jockey is an exciting, promising career and a great challenge for music lovers. If you are really interested in a career as radio jockey, then it is very important for an RJ to have an automatic, fun, and friendly personality. If you want to get a job done in this field, a strong command of the language and a good voice are always good things. Apart from this, in order to be a good radio jockey, you will also listen to good radio jockeys so that you can understand their style and later make your own by practicing.

A career as radio jockey has a lot to offer to deserving candidates. If you want to know more about a career as radio jockey, and how to become a radio jockey then continue reading the article.

Choreographer

The word “choreography" actually comes from Greek words that mean “dance writing." Individuals who opt for a career as a choreographer create and direct original dances, in addition to developing interpretations of existing dances. A Choreographer dances and utilises his or her creativity in other aspects of dance performance. For example, he or she may work with the music director to select music or collaborate with other famous choreographers to enhance such performance elements as lighting, costume and set design.

Social Media Manager

A career as social media manager involves implementing the company’s or brand’s marketing plan across all social media channels. Social media managers help in building or improving a brand’s or a company’s website traffic, build brand awareness, create and implement marketing and brand strategy. Social media managers are key to important social communication as well.

Photographer

Photography is considered both a science and an art, an artistic means of expression in which the camera replaces the pen. In a career as a photographer, an individual is hired to capture the moments of public and private events, such as press conferences or weddings, or may also work inside a studio, where people go to get their picture clicked. Photography is divided into many streams each generating numerous career opportunities in photography. With the boom in advertising, media, and the fashion industry, photography has emerged as a lucrative and thrilling career option for many Indian youths.

An individual who is pursuing a career as a producer is responsible for managing the business aspects of production. They are involved in each aspect of production from its inception to deception. Famous movie producers review the script, recommend changes and visualise the story. 

They are responsible for overseeing the finance involved in the project and distributing the film for broadcasting on various platforms. A career as a producer is quite fulfilling as well as exhaustive in terms of playing different roles in order for a production to be successful. Famous movie producers are responsible for hiring creative and technical personnel on contract basis.

Copy Writer

In a career as a copywriter, one has to consult with the client and understand the brief well. A career as a copywriter has a lot to offer to deserving candidates. Several new mediums of advertising are opening therefore making it a lucrative career choice. Students can pursue various copywriter courses such as Journalism , Advertising , Marketing Management . Here, we have discussed how to become a freelance copywriter, copywriter career path, how to become a copywriter in India, and copywriting career outlook. 

In a career as a vlogger, one generally works for himself or herself. However, once an individual has gained viewership there are several brands and companies that approach them for paid collaboration. It is one of those fields where an individual can earn well while following his or her passion. 

Ever since internet costs got reduced the viewership for these types of content has increased on a large scale. Therefore, a career as a vlogger has a lot to offer. If you want to know more about the Vlogger eligibility, roles and responsibilities then continue reading the article. 

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication) , B.M.M. (Bachelor of Mass Media) , or  MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

Production Manager

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

ITSM Manager

Automation test engineer.

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

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Essay on Importance of Globalization

Students are often asked to write an essay on Importance of Globalization in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Importance of Globalization

Understanding globalization.

Globalization refers to the integration of countries and people worldwide. It involves sharing ideas, products, and cultural aspects across borders.

Benefits of Globalization

Globalization is crucial as it promotes international trade, leading to economic growth. It also encourages cultural exchange, fostering global harmony.

Globalization and Technology

Globalization has been boosted by advancements in technology, making communication and transportation easier and faster.

In essence, globalization is vital for economic and cultural progress. It bridges gaps among nations, promoting peace and prosperity.

250 Words Essay on Importance of Globalization

Globalization refers to the process of interaction and integration among people, companies, and governments worldwide. It’s driven by international trade, investment, and aided by information technology. This phenomenon has effects on the environment, culture, political systems, economic development, and human physical well-being in societies around the world.

Globalization and the Economy

Globalization has played a pivotal role in fostering economic growth. It has allowed countries to partake in international trade, leading to the expansion of market frontiers. Globalization encourages the free movement of goods, services, and labor, promoting economies of scale and efficient allocation of resources.

Cultural Exchange and Globalization

Globalization has also spurred cultural exchange. Through the diffusion of ideas, languages, and cultural practices, societies have become more diverse and enriched. It has led to a greater understanding and tolerance of different cultures, fostering global unity.

The advent of technology has accelerated globalization. Information technology, in particular, has made it possible to instantaneously communicate and conduct business, regardless of geographical distance. This has led to the creation of a global village, further enhancing economic and cultural ties.

The Flipside of Globalization

Despite its benefits, globalization has its drawbacks. It has often been criticized for widening the wealth gap and promoting cultural homogenization. Therefore, it’s essential to strike a balance, harnessing the advantages of globalization while mitigating its potential downsides.

In conclusion, globalization is a double-edged sword. While it has the potential to bring about economic prosperity and cultural exchange, it also carries the risk of exacerbating income inequality and cultural erosion. Therefore, a balanced approach towards globalization is crucial for sustainable development.

500 Words Essay on Importance of Globalization

Introduction to globalization.

Globalization is a phenomenon that has transformed our world into a global village. It is the process of integration and interaction among people, companies, and governments worldwide. This phenomenon has been driven by international trade and investment and aided by information technology.

The Economic Impact of Globalization

Globalization has a profound impact on the economic sphere. It has led to the opening up of world trade, development of advanced means of communication, internationalization of financial markets, growing importance of MNCs, population migrations, and more interconnected markets. This has allowed for the free movement of goods, services, capital, and labor, leading to economies of scale and fostering economic growth.

Globalization and Cultural Exchange

Culture is another area profoundly impacted by globalization. The worldwide spread of ideas, languages, or popular culture happens through globalization. It has led to the diffusion of cultural practices, leading to a global culture. However, it’s a double-edged sword as it also risks the obliteration of local cultures and traditions.

Globalization and the Environment

Globalization has significant environmental implications. On one hand, it has led to increased pollution and environmental degradation due to industrialization. On the other hand, it has also spurred global cooperation to tackle environmental issues. International treaties and global environmental movements are a testament to this.

The technological revolution is both a driver and a product of globalization. The rapid spread of technology and information has not only made globalization possible, but it is also continuously accelerated by it. The internet, for instance, has broken down geographical barriers, allowing instant communication and access to information across the globe.

Globalization and Politics

Globalization has reshaped political landscapes worldwide. It has led to the rise of international political institutions like the UN, EU, and WTO, which govern international relations. While these organizations foster cooperation and peace, they also raise questions about national sovereignty.

Conclusion: The Dual Nature of Globalization

In conclusion, globalization is a complex and multifaceted phenomenon with both positive and negative implications. It has interconnected the world, leading to economic growth, cultural exchange, and global cooperation. However, it also brings challenges such as cultural homogenization, environmental degradation, and political tension. Understanding and managing these dynamics is crucial for harnessing the benefits of globalization while mitigating its challenges. Therefore, the importance of globalization, in all its complexity, cannot be overstated.

That’s it! I hope the essay helped you.

If you’re looking for more, here are essays on other interesting topics:

• Essay on Global Environmental Issues
• Essay on How to Reduce Global Warming
• Essay on How to Prevent Global Warming

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Globalization Essay

In this Globalization Essay , we had discussed types of globalization, its advantages, disadvantages & much more.

Globalization is the process by which businessmen take their business to the international level.

With this, business increases from one country to many countries, so that that business will get the benefit of international technology.

Globalization Essay 100 words:

Globalization generally means expanding the service sector of your business to other countries.

If a business takes its work internationally and establishes it in another nation, it requires huge international investment, however, this has the advantage of the excursion.

This greatly increases the customers of a business and also helps the business to reduce expenses if it moves to a country where production costs are low.

In the last decade, globalization has strengthened and India has come to thousands of foreign companies.

This has led to increased competition in Indian businesses and with this, the number of choices of customers in India has increased.

While on the one hand, it has given customers options, on the other hand, it has increased the competitiveness of businesses.

Essay on Globalization 150 words:

In today’s era, businesses are growing rapidly and they are not limited to one country and they are reaching many countries.

Making a presence in more than one country of business is called globalization, it means expanding the service sector of your business to other countries.

If a business takes its work internationally and establishes it in another nation, it requires huge international investment; globalization impacts a business or company in many ways.

The most important thing it makes more customers of a business because it can deliver products to other countries as well as to their country.

With this, if one sets up a business in countries like China, then there is an advantage of the cheap labour rate and it reduces the cost of production. Hence globalization is beneficial for business.

Globalization Essay 200 words:

When we take an object to the whole world, it is called the globalization of that object.

We can also call it an independent and interconnected market, free from time zone and national territory.

For example, Domino’s Pizza in most countries of the world today is a living example of globalization.

It started with one country and now it is in many countries; a business desperately needs a better strategy to grow on such a large scale.

Although it is difficult to determine whether globalization is beneficial or harmful for a decade.

If we see the benefits, then this gives new opportunities to the business and with this, the customers of a country have more options.

Along with this, if one of its countries has losses, then we see that due to the arrival of international business into a country.

The competition of the businesses of that country increases, which affects their revenue; thus, globalization is thus beneficial and harmful to the country.

Essay on Globalization 250 words:

Globalization has occurred very rapidly in the last few decades resulting in economic, social, political and cultural integration around the world through advancement in technologies, telecommunications, transportation, etc.

Although it has affected human life in both positive and negative ways; its negative effects need to be addressed accordingly.

Globalization has contributed greatly to economies around the world in many positive ways.

An incredible advancement in science and technologies has given businesses an amazing opportunity to spread easily even outside the territorial boundaries.

Due to globalization itself, there has been a huge economic growth of companies.

They have been more efficient and thus have given birth to a more competitive world, competition in quality of products, services etc. has resulted in growth.

Successful companies in developed countries are setting up their overseas branches to gain locally through lower-cost labour than their home countries.

Such business activities are employing the people of developing or poor countries and thus paving the way forward.

Along with the positive aspects of globalization, the negative aspects are also not forgettable.

There has been a risk of epidemiological diseases through transport from one country to another; however, the government of all countries has had proper control over globalization to minimize its negative effects on human life.

Globalization Essay 300 words:

Globalization is a process of spreading science, technology, business etc. through transport, communication and trade.

Globalization has also affected almost all countries worldwide socially, economically, politically and psychologically.

Globalization is a term that refers to the continued integration and interdependence of countries in the field of rapid trade and technologies.

 The impact of globalization has been seen on tradition, environment, culture, security, lifestyle and ideas.

There are many factors influencing globalization trends worldwide.

The reason for the boom in globalization is the demand of people, free-trade activities, acceptance of markets worldwide, emerging new technologies, new research in science, etc., because globalization has a huge negative impact on the environment and has given rise to various environment.

All the growing environmental issues like water pollution, deforestation, air pollution, soil pollution, pollution of water resources, climate change, biodiversity loss, etc. need to be resolved by international efforts on an urgent basis otherwise they will one day in the future but can end the existence of life.

The Apple Company has also aimed to manufacture environmentally friendly products to reduce the negative effects of globalization and increase the positive effects.

Problems like deforestation are increasing due to the increasing demands of the ever-increasing population and the environmental level is falling.

In the last years, about half of the useful forests have been cut. Therefore globalization needs to be brought under control to reduce its negative effects.

Essay on Globalization 1000 Words:

Globalization is mainly concerned with world marketization which signifies the expansion of business opportunities.

In globalization, the mutual dependence between world markets arises because trade leads to exploitation of the conditions of profit rather than bounding the borders of the country.

For this purpose, the globalization of the world through information and transport means is globalization.

In such systems, open economies are born, which are free from restrictions and in which free trade takes place. Thus the place of multinational companies or rules becomes important in globalization.

Globalization refers to linking the economy of a country with the economies of other countries of the world so that business activities can expand globally and develop the competitiveness of countries.

Thus, globalization is also seen as internationalization. In other words, globalization means integrating the country’s economy with the world’s economy.

Definitions of Globalization:

Globalization has been defined by various economists as follows:

According to Oscar Lange , “The future of economic development of Least Developed Countries in modern times depends mainly on international cooperation.”

Pro. According to Deepak Nayyar , “Globalization is the expansion of economic activity beyond the political boundaries of a country.”

Pro. N. In the words of Vaghul , “The term globalization refers to the rapid expansion of the market sector, which has worldwide reach.”

According to John Naswitt and Portacia Aberdeen , “It should be seen as a world in which all countries’ trade is moving towards one country.” In this, the whole world is an economy and a market. “

The above definitions lead to the conclusion that “Globalization is the process in which the economy of a country is integrated with the economy of the whole world.

So that the whole world can act as a single economy and a single market and in which borderless internationalization Mutual exchange of individuals, capital, technical goods, information and knowledge can be facilitated for practices.

Globalization is also called universalization, globalization and international names. Also, read Globalization Essay FAQ.

Needs of Globalization:

Globalization is needed for the following reasons:

Globalization is a process of homogeneity and symmetry, in which the whole world folds together.

For the rapid development of the economy, a policy of globalization was adopted.

Globalization is the association of a nation’s industries with international regulations or multinational corporations that deal with goods and services outside other countries.

The various nations of the world satisfy their needs by purchasing and selling goods and services through the relative powers of demand and supply of market mechanism with cooperation and goodwill.

34 industries were covered under this policy. Under the industrial policy, foreign capital investment up to 51% was allowed in high priority industries.

The policy of globalization was confined to the basic sectors like electricity, coal, petroleum required for the manufacture of foreign advanced technology and industrial structure of the nation.

In cases where foreign capital will be available for machines, they will be allowed to set up industries automatically.

The Foreign Exchange Regulation Act was also revised. Also, read Globalization Essay Conclusion.

At present, other private companies are also moving towards industrial worldwide by setting up units abroad.

Videocon, Onida, Godrej and B.C. P.L. Companies like Japan, Germany, Germany and Italy, with the help of multinational companies, are making huge profits by producing advanced items.

Under this policy, machines producing less than 12 crores or 25% of the total capital can be imported without prior permission.

Many incentives and facilities were given to the overseas Indians for capital investment. Indian companies have been allowed to issue euro issues.

 In the direction of globalization, state-owned fertilizer company Krishak Bharatiya Cooperative Ltd. The government has granted permission to acquire and operate a phosphate fertilizer factory in Florida, USA.

Features or Characteristics of Globalization:

In this, efforts are made to minimize trade barriers globally so that goods and services can move freely and smoothly between the two nations.

Globalization gives rise to the evolving nature of industrial organizations.

Developed nations prefer to invest their huge funds in developing nations for interest rate benefits so that they can get the benefit of advanced rates.

In national and international markets, an effort is made to create such an environment that all countries can take advantage of advanced technology by the free flow of information and technology between different nations.

Capital is the soul of business organizations. Under globalization, there is a free flow of capital between the various contracting nations, so that the creation of capital is possible.

Globalization also promotes intellectual labour and wealth, that is, it is possible to freely move the working class and personnel from one nation to another.

As a result of globalization, the relaxation on the restrictions on international economic practices increases gradually, leading to a gradual increase in international trade.

The globalization results in allocation and utilization of resources all over the world based on market need and priority, which makes the underdeveloped and developing nations quick to achieve material and human resources which were not so easy in the past.

Effects of Globalization:

The impact of the world economy is being experienced in economies of different countries.

The industry and trade of each country are affected by the changes taking place in other parts of the world.

Modern economies are open economies and business is gaining global status. Thus we see that many multinational companies are operating in different countries.

International ventures are also seen, Doordarshan’s network is used for global marketing.

International organizations like the International Monetary Fund, International Bank for Reconstruction and Development, the World Trade Organization have been established.

All this shows that the effect of globalization or globalization is showing in every place.

In short, the effects of globalization can be explained as follows:

Development of Social Consciousness:

The spread of education has influenced people’s thinking. Liberal ideas are being replaced by conservative ideas.

The standard of living has improved and the lifestyle changes are visible. The world has been reduced in size through advanced means of communication.

The thinking and way of life of the developed countries are being followed by the people of other countries.

Expectations from the business are increasing. Earlier, they were satisfied with what the industry provided to the people, but now they want good quality goods at reasonable prices.

Global competition has created a situation where only those commercial ventures will survive, which can produce goods and services according to the satisfaction of consumers.

People also want to see the business become socially responsive. Control of pollution by industrial units is also an area in which business has to play an important role. Thus, the globalization of business has given rise to a new type of social consciousness in the society.

Technology Changes:

Technology changes are taking place in the world at a very fast pace. Industrial units are manufacturing new and better products every day.

Advanced methods of telecommunications and transport have revolutionized world marketing. The consumer has now become so conscious that he wants to get the best products every day.

Companies are spending a lot of money on research and development, thus rapid technology changes have created a global market for products.

Global Form of Business:

Modern business has become global by nature. Speciality is found in factory items, these goods are produced where there is competition for production costs.

Such items are exported to other countries, Items that cannot be produced frugally are imported from outside.

A large number of multinational companies have entered India, which also uses the production facilities available in India to export goods from different countries.

Thus, Indian business is influenced by global economic trends. Also, read Globalization Essay FAQ.

Difficulties associated with Globalization:

Some of the difficulties in the path of globalization can be mentioned as follows:

Unequal Competition:

Globalization has given rise to unequal competition. It is a competition between ‘powerful multinational corporations’ and ‘weak (and relatively small) Indian enterprises’.

India’s large industrial units are also much smaller and dwarf than foreign multinationals, and some of them have been digested by multinationals and some are holding their breath waiting for the end of their existence.

As a Member of Parliament of West Bengal has stated, “Universalization of India means the entry of a mouse into the herd of elephants” (Integrating a Mouse into a Herd of Elephants).

According to Baldev Raj Nayyar, the main reasons for the unequal competition are:

(a) Indian enterprises are much smaller in size than multinational corporations.

(b) The cost of capital for Indian enterprises is much higher than that of multinational corporations.

(c) For four decades before 1991, the Indian corporate sector functioned in a very protectionist environment.

(d) Many goods produced in the country are taxed at very high and indirect levels.

(e) Indian enterprises still cling to earlier regulations.

(f) In some areas, the policies of the Government of India have openly sided with multinational corporations.

They are given exemptions in taxes which are not available to Indian entrepreneurs;

Counter Guarantee has been provided for their projects in the power sector, whereas Indian entrepreneurs have not been given this facility.

Growing Protectionism Abroad:

Recent years have seen significant, qualitative changes in the international economic environment.

When industrialized countries were developing at a rapid pace, these countries were admirers of free trade, but in the last few years.

Since the phase of development has slowed down here, these countries have started taking the cover of the policy of conservation.

Globalization Essay example:

(a) When Indian skirts (lingerie) started to become very popular in the United States, the misconception was spread that these pens were made from flammable material.

(b) Recently, the European Union countries have imposed anti-dumping duty on Indian textile exports.

(c) Developed countries, especially the United States, have raised the issue of Labor Standards to reduce the export of carpets originating from India.

Formation of Regional Trading Blocs:

The basic assumption of globalization is that there will be no restriction on the flow of goods, services and capital in all countries.

On the contrary, all countries are tying themselves into regional trade groups and trade groups to increase the capacity of export and international competition.

Let’s assume the key: Currently, there are more than 15 trading groups. The establishment of these groups stops the process of free competition.

Need to Stimulate Technical Progress:

It is necessary for globalization that developed countries with full determination and loyalty bring revolutionary changes in the production technologies used in developing countries.

So that the benefits of globalization can be given to the developing countries and the policy of globalization can be sustainable.

Limited Financial Resources:

To be able to compete in the international market, a large amount of capital will be needed to improve the quality of goods and increase production, but there is a lack of capital in developing countries.

As a result, these countries have to go to international institutions such as the World Bank and Monetary Fund to provide financial resources, which provide financial resources on inappropriate terms.

Entry in Unwanted Area:

Under the globalization policy, multinational companies are entering more and more consumer sector and service sector which is not fair.

The assurance of a guaranteed rate of 16 to 18% on the appropriation of economic infrastructure is also unfair.

Similarly, the natural consequence of opening the insurance sector to foreign companies will be that Indian savings will be even lower.

Other Problems:

(a) Proper environment requirement:

Structural reforms in the country’s economy have not been done completely because the countries that have adopted globalization have created an environment for them in the past, as well as the pace of our country’s free-market, has been slow.

(b) Adverse status:

America is pressuring India to accept the concept of ‘Special 301’ and ‘Intellectual Property’ rights.

In such a situation, if we accept globalization, then our economy will go to the hands of multinational companies and if we reject, India will face many problems in globalization.

(c) The fear among workers:

Indian workers believe that the installation of modern machines in the country will require fewer workers, as well as layoffs in factories and they, will be directly affected.

Suggestions regarding globalization:

In the context of the Indian economy, the following are some major suggestions to speed up the process of globalization:

Improvement in Competitiveness of Indian Producers:

To achieve success in the world market, the most important thing is that we should improve our competitiveness.

To improve competitiveness it is necessary to:

(a) The rapid increase in productivity

(b) Improvement in quality of goods

(c) Development of developed production techniques

(d) Organizational restructuring of Indian companies.

It is worth mentioning that the criterion of the efficiency of the company should be to consider the efficiency and productivity of the companies working at the international level and make all efforts to achieve that level.

MNC s from Alliance:

A large number of MNC s are entering India. MNC s have a relatively high financial capacity, business experience and skills.

Therefore, it is in the mutual interest of MNC s and domestic companies to tie up in mutual alliances.

Self-Sufficiency in Technology:

Developing countries like India will get the benefit of globalization only when they use the latest technology.

Facing International Protectionism:

To deal with international protectionism, on the one hand, we have to increase the participation of foreigners in home appliances.

Foreign subcontractors pressurize their governments against the adoption of protection policy and on the other hand, we have to develop domestic brands in foreign markets. So that foreign buyers are eager to buy our products.

Modernization of Agriculture at Small Sector:

Since India is an agrarian country, participation in the globalization process of the Indian economy will be futile unless agriculture and small sector contribute to this effort.

Therefore, to improve the agriculture sector it is necessary to:

(a) All production activities related to agriculture, which include everything from sowing seeds to the sale of agricultural produce, will have to be worn with a professional dress.

(b) The overheads related to agriculture have to be developed.

(c) There is an urgent need for expansion of research and development in the agricultural sector so that such products can be manufactured which can meet the level of international quality.

Also, read 1. Essay on GST 2. Cashless Economy Essay 3. Demonetisation Essay

Conclusion:

Although our economy has moved in the direction of globalization, there is doubt in the success of the efforts made in this direction.

At this time neither the international environment is suitable nor are our internal economic and social conditions ready.

The country is becoming agreed that the policy of selective globalization should be adopted instead of blind globalization.

There have been some difficulties in India with the processes of domestic liberalization and external liberalization going on simultaneously.

We can make the economy more competitive and more efficient by harmonizing modernization, human development and social justice.

Other countries first strengthened domestic liberalization and strengthened and enabled their economy and later adopted the path of external liberalization.

Due to time constraints, we have to work on both fronts simultaneously to advance in the world competition.

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Guest Essay

What Worries Me Most About a Trump Presidency

By Caroline Fredrickson

Ms. Fredrickson is an adviser at the Open Markets Institute, a senior fellow at the Brennan Center for Justice and a visiting professor of law at Georgetown University.

There are almost daily headlines now describing what Donald Trump would do if elected: the mass deportations, the pardons handed out to his friends and golf buddies, the Justice Department settling scores and waging personal vendettas. The former president has even promised violence if the election goes against him, warning that it could be a “ blood bath .”

But as worrying as these prospects are, they are far from the biggest threats he poses. What we should fear most is Mr. Trump transforming our government into a modern-day Tammany Hall, installing a kleptocratic leadership that will be difficult if not impossible to dislodge.

I do not discount the possibility of state-sponsored violence, and I worry deeply about the politicization of the civil service . But those are, for the most part, threats and theories, and while they need to be taken seriously, people should be paying more attention to a far more likely reality: that Mr. Trump would spend much of his time in office enriching himself. He failed spectacularly as an insurrectionist and as a disrupter of the civil service, and his clownish and chaotic style may well lead to failure again — but he has succeeded time and time again in the art of the steal. If his grift continues into a second term, it will not only contribute to the fraying trust Americans have in their institutions, but also impair our ability to lead the world through a series of escalating crises.

Recall how Mr. Trump operated in his first term. Not only did he keep his stake in more than a hundred businesses, he made it a practice to visit his properties around the country, forcing taxpayers to pay for rooms and amenities at Trump hotels for the Secret Service and other staff members who accompanied him — money that went straight into his bank accounts and those of his business partners. Those interested in currying favor with the president, from foreign governments to would-be government contractors, knew to spend money at his hotels and golf clubs. According to internal Trump hotel documents, T-Mobile executives spent over $195,000 at the Trump Washington Hotel after announcing a planned merger with Sprint in April 2018. Two years later, the merger was approved.

Government, like fish, rots from the head down. Mr. Trump’s example freed up cabinet members to award huge contracts to their friends, business associates and political allies, while others ran their departments like personal fiefs. After the State Department’s inspector general was fired , Secretary of State Mike Pompeo’s use of official trips for clandestine meetings with conservative donors and allegations that his family misused staff members for tasks like walking his dog, picking up his wife from the airport and fetching his takeout came to light. And, in addition to being accused of improperly accepting gifts from those seeking influence, several other cabinet members were alleged to have used government funds for private travel . These may seem like banal infractions, but taken together, they are a reflection of who Mr. Trump is and how he governs.

Throughout his life, through Trump-branded wine, chocolate bars, sneakers, NFTs, ties, MAGA paraphernalia, a $59.99 Bible (of all things ) and, most recently, his Truth Social meme stock ploy, he has shown an unstoppable drive to enrich himself at all costs. He sees politics, like business, as a zero-sum game in which he wins only if someone else loses. These are the instincts that drive corruption, kleptocracy and grift. And, if past is prologue, we’re looking at a much more damaging sequel.

In a second term, Mr. Trump will have more freedom and power to undertake grift. He has already vowed to use pardons to protect supporters and possibly even himself from efforts to curb corruption (which may explain the nonchalance with which his son-in-law Jared Kushner has greeted criticism about the conflicts of interest raised by his recent real estate investments in Serbia and Albania, as well as the Saudi, Qatari and Emirati investments in his wealth fund). And he and his political advisers are building a deep bench of committed and loyal employees who could corrode and potentially destroy mechanisms of accountability in government, paving the way for kleptocratic leaders to entrench themselves in the bureaucracy where many would be able to remain past Mr. Trump’s term. And the mere presence of a phalanx of unquestioning lieutenants in the civil service will ensure that other civil servants fear retribution for objecting to the self-enrichment.

Naturally, I worry about other things, too, particularly the possibility of political violence. Mr. Trump could well claim he has won the election no matter the vote count and call on his supporters to rise up to ensure his takeover. Even before the votes are cast, his supporters are threatening election officials, judicial officials and state legislators, trying to intimidate them into either helping Mr. Trump or stepping aside to be replaced by Trumpists.

But legal, law enforcement and security obstacles are still in place to slow down or stop these efforts. We must remember that this time around, President Biden will still be president, able to control the military and federal law enforcement, and Congress has amended the outdated and vague Electoral Count Act to make it much harder for Mr. Trump’s congressional allies to contest a Trump loss in the electoral college or on Capitol Hill.

No such guardrails exist to curb Trumpian corruption. The Supreme Court, itself corrupt , has made it virtually impossible to prosecute even the most blatant corruption by government officials.

In a kleptocracy, corruption is a feature, not a bug, where politicians apply the law inconsistently , favoring friends and punishing enemies. By controlling government assets and handing them out to friends and family — and dangling possibilities in front of would-be supporters — as well as using politically motivated prosecutions, kleptocrats cement their control of government and disempower opponents. We need only recall Russia’s erstwhile effort to create a democracy: It quickly drained away into the pockets of Vladimir Putin and his oligarchs, leading to the hopelessness and acquiescence of Russian citizens once they realized they could no longer change their situation through democratic means.

Now we face that danger at home. If Mr. Trump wins, America will have a leader invested in his own personal power, both financial and punitive, and supported by a much more capable team. When lucrative contracts are handed out to Trumpist loyalists regardless of merit and dissident voices are targeted and silenced, America’s leadership on the global stage will dissolve when it’s needed most.

The consequences will echo for generations if we lack the ability and the will to attack problems like climate change, mass migration, a new space race and multiple wars. Nothing of substance will be done, Mr. Trump’s cronies will continue to act with impunity, and millions of Americans — already worried that elites are held to a different standard than regular people are — will lose even more confidence in their government, convinced that everyone in Washington is out for himself.

This combination of passivity on the one hand and impunity on the other could be fatal for our democracy. This is the true danger Mr. Trump poses.

Caroline Fredrickson is an adviser at the Open Markets Institute, a senior fellow at the Brennan Center for Justice and a visiting professor of law at Georgetown University.

The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips . And here’s our email: [email protected] .

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