Running Head: Globalization

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Globalization: Outline I. Introduction A. An overview of globalization II. Discussion A. Discussion on the positive and negative effects of globalization III. Conclusion A. This part of the report will cover a summary of the findings

Introduction Globalization is an increasing unity of various world economies brought about by the breaking or elimination of barriers to international trade. The barriers include tariffs, export fees and import quotas. Its aim is to raise goods, services and material wealth from a global division of labor (Robertson, 1992). Globalization is a process, driven by a combination of factors including financial, technical, sociocultural, political, and biological. The term may also refer to transitional circulation of ideas, languages, or popular culture (Waters, 2001). The history of globalization is debatable. Some people perceive it to be from the ancient times dating back to occasions like Ottoman Empire spice trade routes in 1453 spurring exploration of different lands. Others situate the origins to the modern era, citing examples like the ending of the First and Second World War in the mid-20th century which was necessitated by the need to break down borders and foster peace (Osterhammel & Petersson, 2005). Expansion of multinational companies and exchanging of scientific developments and information has led to globalization in most continents. In the late 1900s inventions like networking in communications allowed for work done using computers from varied locations in the world, his enhanced a spirit of camaraderie amongst members of different societies (Osterhammel & Petersson, 2005). Globalization may be measured in various ways. The main ones include goods and services, like exports and imports, labor and people. We have examples of labor and people under globalization as net migration rates, weighted by population, Capital and Technology, which encompasses international research and development flows (Robertson, 1992).

Discussion

Globalization is caused mainly by trade liberalization; this is where there are no barriers to international or regional trade. Other influences are political bias, technological growth, infrastructure expansion and socio-cultural interactions. These factors intertwine or corroborate to create powerful effects on this globe (Boudreaux, 2008). There are various effects of globalization both positive and negative. This comprise, political which deals with the creation of supra-states and sub-state institutions like the Great Eight commonly referred to as the G8 or the European Union (EU) leads to loss of control by the member states as they dictate policies and direct reforms. There is also language influence with English being the second most dominant for communication. Its effect on ecology is brought due to low environmental regulations in third-world nations hence most cooperations start their factories in these countries, leading to job creation. Industrially, there is an increase in the number of international trade especially movement of goods by imports and exports. In finance, globalization has led to better access to external financing for people who would like to borrow. This enhances investing and trade across borders. Other positive effects are global market based on freedom of goods exchange, increase in information, cross-culture influence expanding knowledge of various cultures also spread of religion. (Steger, 2010)

Globalization also has negative effects some of which are brain drain, which is brought about by the departure of intellectuals from their mother nation driven by the need for money in the foreign nations. In developing countries, globalization has brought about income inequality because most people who compete for jobs must have certain qualifications hence rendering production and service workers unable to get those jobs. Globalization also causes neocolonialism by dictating terms to member states of sub-states like African Union. (Steger, 2010)

Conclusion The best way to approach globalization is to view it from all angles. Like a coin globalization has its two sides, with its opportunities come risks and they should be tasted in equal measure in an effort to strike a balance of equity an order. With specific mention to developing nations, factors like legality and integrity should be upheld while striking mergers touching on international or regional grounds. Sacrificing the said two on a pedestal of individual wealth gain could harm the strides made by globalizing the world so far.

References Boudreaux, D. J. (2008). Globalization: Greenwood guides to business and economics. Westport, Conn.: Greenwood Press. Osterhammel, J. & Petersson, N. P. (2005). Globalization: A short history. Princeton, N.J.: Princeton University Press. Robertson, R. (1992). Globalization: Social theory and global culture. London, UK: Publisher Sage. Steger, M. (2010). Globalization: A Brief Insight. New York: Sterling Publishing Company, Inc. Waters, M. (2001). Globalization: Key ideas. Routledge: Routledge Publishers.