Globalization Globalization is the process of integration and exchange of economic, social, and cultural aspect of people beyond national boundaries. (Also read: Globalization: Meaning of Globalization and its Advantages and Disadvantages) What causes Globalization? 1. Improved transport system, particularly airways and seaways, have to be credited for massive globalization.
While also being applauded, economic globalization has created groups of winners, consisting of multinational corporations and rich countries, with the losers being developing governments and their citizens. Globalization is in dire need of reform from the bottom up.
This economic growth has been very attractive to the western expansion market, which later has result in more market-based economy with globalization and deregulation by the Chinese government. The recent trend growth rate is at average of 9.4 % over the past decade is 1.7% higher than other countries in Asia.
Globalization is a phenomenon, which demonstrates a significant growth in the overall international trade of goods, services and other financial assets as observed in an economy. Globalization also commonly refers to a situation where in one country highly interacts with other countries or economies via trade, competition or investments.
Essay: Positive Impacts of Globalization.. Technology is the main driving force behind globalization and has improved the way economic opportunities for companies and consumers alike.. seems like people calling rock’n’roll music “the devil’s music” decades ago. Maybe now that we have a little better picture of what globalization.
Globalization is the trump card for the rapid development across the globe in terms of language, culture, tradition, customs, lifestyle, economy and science and technology. If we go back to the origin and existence of this term Globalization, the term has been there in the annals of history and it got its significance just a decade ago.
Globalisation and global flows of culture have redefined the processes in which we share and connect to ourselves, others, and the world. From its onset, globalisation had both proponents’ and critics; some believed that it leads to a rich, hybrid global culture. Others saw it as the west versus the rest, an imprint of Western values and ideologies upon the world’s rich and diverse cultures.
To conclude, economic globalization is a thriving phenomenon of the past century and has greatly influenced the world's economy. Indeed, an aspect of economic globalization is the development of firms into multinational companies.