Globalization Essay

Globalization is the transformation of world into more inter-dependent place resulting from a lot of social & economic changes. There are three main types of globalization like political globalization, economic & social globalization. Globalizing the world has made it easier to spread policies & opinions all over the world though if these are economic or political. In simple words, Globalization is the integration between people, organizations & governments. This is all through globalization that smaller or national businesses are now expanded world wide.

Existence of Globalization

In ancient days, people produce goods for their own consumption within their country. Then the trade was not globalized in civilization. ‘Silk Road’ was the mode of Goods Transportation from China to Europe in 1st century B.C. This was a good symbol or transporting goods across continent and it was the first positive sign for Globalization that kept on growing gradually. In 7th century AD another positive development took place in advent of Islam in Arab. Muslim merchants dominate as international traders. First trading goods were mainly spices that were started to transported across the world.

Later on, global trading was started in 15th century when European merchants connected the eastern & western continents. It progressed in the era when America got discovered & trading started there and reached from Europe to America.

Globalisation has powered economic growth in developing countries such as China. Global logistics, low domestic production costs, and strong consumer demand have let the country develop strong export-based manufacturing, making the country the workshop of the world.

Ma Jun

Great Britain in 19th century, invented machinery like trains & ships. Invention of wheel was very powerful mode for locomotion of both people & goods. This made easier the trading of goods all across the world.

Globalization in 21st Century

21st century in considered as the time of modern technology. Many modes are invented for transportation. Invention of phones has also made it easier the connection of people all over the world. This also enhance the globalization & invention of internet has covered whole people globally. Now, trading is also done through Internet. There is no need to visit the place, you can get your goods at your door steps. Modern technology has made the life easier and better. Web users have grown globally.

Impact of Globalization

Globalization means the assimilation of economics and societies all over the world through the flow of information, ideas, technologies, goods, services, capital, finance, and people.

Modern technology innovation is another best contribution to globalization. It emphasis on improving the products because of intense competition. Due to globally trading of goods, companies try to produce their products best so that they may have a space in global trading.

Global companies are emerging and there is a need of big investments for the uplift of globally trading companies. Foreign Direct Investment FDI is the best way to invest money for growth of global companies. Globalization is the blessing to world as it has many social as well as economic benefits. It is the international financial & industrial enterprise.

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.

Barak Obama

All the governments has implemented new policies & reduced the foreign trade barriers so that their countries may spread trading globally. People enhance businesses in foreign countries with the help of foreign business partners & set new companies & organization for the best production of goods.

Advantages & disadvantages of Globalization

globalization has inter connected the world. It has brought new opportunities and policies to the world. It has revolutionized the whole world. It has increased the competition in production of goods. People are now interconnected & flow of information and opinions take place through them. This has made trading, sharing of ideas & policies including useful information easier then before when there was no mode of transporting goods & sharing ideas.

Including a lot of advantages, globalization has raised inequality in nations and instability in financial markets. It results environmental deterioration. It has increased tough competition in countries.

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