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Globalization

Globalization can be broadly defined as social, political and economic


changes that we all adapt do. The strong currency rates, constructions,
trading etc are all consequences of globalization.
Positive Impact

A better economy it introduces rapid development of the capital


market

Introducing new technologies- the new technologies and progress in


telecommunication, introduction of satellites, mobiles etc are all
results of globalization.

The new scientific research patterns are all results of globalization.

Living standards are risen.

Globalization introduces better trade. This is because more people


are employed. This increases productivity.

Apart from economical aspect, globalization has also brought an


impact on political and cultural domain.

Culturally speaking, globalization has brought in different ideologies,


and thought process amongst people.

Politically speaking, onset of western democratic system has an


impact on politics.

Negative Impact

Along with positive impact, there is negative too. Globalization


brings fear as well. Because of too much flow of capital amongst
countries, it introduces unfair and immoral distribution of income.

Another fear is loosing national integrity. Because of too much


exchange of trade, money etc independent domestic policies are
lost.

Mental pressure on companies that causes many people to loose


their jobs.

Globalization is a contentious process. We all live in a global world, i.e.


growing in global or worldwide scale. Globalization brings the new era in
the 21st century and we are interconnected through it. However
globalization has become a very interesting part of debate among the
students, and economists. Many of the people debate about the impacts
of globalization and discuss the for and against conditions for it.
Globalization conveys us that something new is happening to the world.
Globalization leads to the interconnection between the countries of
different culture, caste and heritage. The process leads to the updating of
information among the people. Advancement in transportation,
telecommunication systems, infrastructures are the major factors of
globalization. Advancement in technology from broadband telephone lines
to wireless mobile phones, B&W bulky television to colored LEDs, all are
examples of globalization. It helps in improving peoples lives by making
new products and ideas universally available. One can communicate with
the other from a large distance in a couple of minutes. Globalization leads
to new innovative ideas of new technology that we use today as a gift to
human race. With improvement in transportation and communication,
international business grew rapidly after the beginning of the 20th
century. Globalization does not lead only to the development of rapid
industrial growth but it also recruits growth in tourism activities.
Globalization has made tourism a popular global leisure activity. Sports Is
another impact of global world.
Despite of such wonderful aspects of globalization, half of the people in
the world criticize about the fact that globalization has brought a drastic
change in the world. It is thought that globalization leads to cultural
dominance and people start to get westernize in different culture lagging
in their own heritage. The critics believe that globalization affects moving
freely across borders in countries. Another belief is that globalization
affects extracting natural resources leading to environmental damage.
Critics assume that globalization causes unemployment. With a drastic
increase in technology and development among the countries,
globalization also leads to the spread of diseases in humans, animals and
plants. Globalization also provides a chance to the evil society i.e.
terrorists and criminals to attack. people are consuming more and more
junk food to affect their health
Thus we conclude that globalization is legal in both positive as well as

negative aspects. Every coins has two faces. Globalization is most


important concept in the 21st century

There has been a huge impact of globalization.States role in policy


matters has been reduced. Impact of globalization can be divided into-:
Cultural Impact- There has been lot of intermingling of cultures, people of
different countries have led to the concept of the global citizenship. Yoga
is being practiced in US and we have fast food setup like KFC and McD's in
south Asian countries.
Economic impact- Globalization has led to free trade and has removed all
the deterrent that prevented harmonious trades between countries.
However, it has also led to the world facing recession because of the
negligence of a few super powers. Globalization means inter dependence
of economics.
Political impact- Poor nations have gone poorer. People have less job
opportunities.
Globalization has had both positive and negative impact however it
remains to be seen whether nations can continue such policy measures,
with a looming debt crisis.
http://www.elements.nb.ca/theme/globalization/emily/slide4.htm