Aspects of Globalization

Introduction

Globalization is explained as the increasing unifying the world’s economic order through the reduction of any barriers to trade internationally. The barriers may include import quotas, export fees, and tariffs. The main objective is to accelerate services, goods, and material wealth through various efficiencies attributed to competition, specialization and international relations. It is a process that focuses on lifting the present barriers hindering the progress and development of a given economy. Globalization describes the entire process by which cultures, societies, and regional economies have gradually become integrated through trade, transportation, and communication. In most cases, this term is closely associated with other terms but mostly economic globalization. This is the integration of state (national economies) into the general international economy through migration, trade, capital flows, military presence, the spread of technology, and foreign direct investment. However, globalization has been stereotype recognition for being driven by a collection of biological, economic, socio-cultural, technological, and political factors.

The term has also been used to define the transnational circulation of ideas, popular culture, or languages through acculturation. This paper seeks to lay emphasis on the need for individuals to go global, and the various impacts that the globalization elements have on the trends of daily activities that the individuals have. Globalization has been viewed differently in terms of its impacts or implications in the world and in the world affairs. This is due to the fact that its impacts are not one dimensional. They are social, economic and political. Whereas some analysts and scholars argue that it has been central to bringing international development in all those perspectives, others differ and cite the negative implications of this phenomenon. In this essay, I will give the two implications of globalization in a manner of positives and negatives. This is because the truth lies in the visible findings of both schools of thought. The benefits are political, social and economic as follows.(Manfred, 2003)

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