Globalization Is Not A New Concept - 1414 Words

As with the growing interdependence of an economy on the others is the growing norm of the world’s society. Why the countries are dependent on one another? Can’t they survive isolated from the rest of the world? The answer is laid upon the term Globalization. The globalization is not a new concept; it even existed even thousands of years ago. However, it became much popular in the nineteenth century most prevalently after the world war when the economies around the world tend to grow and develop outside its geographical region. The technological progress increased the production of computers and internet usage started to become prevalent, and this in turn reduced the communication barriers between people. The reduced cost of communicating increased the openness to international trade. The economic system shifted from planned to more of market economy. The minimum government intervention created a greater competition between firms and hence a better output (Santarelli, 2 002). There are certain factors of globalization which includes the integration of capital, labor and products. Firstly, there is an increase in capital-labor mobility due to economic transitions between countries and secondly, there is a flow of knowledge and information between countries (Sindzingre, 2005). Globalization is a very important debated issue. It is a phenomenon which focuses on increase in openness to trade, reduced transportation costs and transfer of technology. The concept of globalizationShow MoreRelatedGlobalization Is Not A New Concept1465 Words   |  6 PagesIntroduction: In this rapidly changing world Globalization has become the way to describe changes in international economy and in world politics. Globalization is not a new concept. After world war II powerful countries tried to capture free market of developed and underdeveloped countries. That’s how that globalization starts. David Bigman says in his book called â€Å"Globalization and the Least Developed Countries: Potentials and Pitfalls† that Globalization has become one of the most emotional word likeRead MoreGlobalization : A New Concept2248 Words   |  9 Pages Asma Alsahafi Michael ELS Fort Wayne 13 April 2016 Even though many people think globalization is a new concept, globalization already existed before the First World War. According to Well (2001), in the early years of the nineteenth century, before the First World War started, people who lived at that time, were able to invest their money or sell products to other people and buy products from other people who might live in other countries with unlimited boundaries. Between theRead MoreGlobalization Has Changed After Listening1421 Words   |  6 PagesYes, obviously my view on globalization has changed after listening to Professor Ghemawat. Professor Pankaj Ghemawat has gone through the entire process of globalization and set up a new idea for the interpretation of the globalization process as well. According to the newer idea and concept of Professor Ghemawat, it is not necessary at all to think over the fences of the countries’ border for the consideration of globalization. He has also opposed the flat world’s conce pt of Friedman and has statedRead MoreNations Should Promote Localization, Not Globalization Essay1590 Words   |  7 Pagesboth globalization and localization can be difficult. The difficult part is deciding which has the most beneficial or disturbing affect upon a country. If a country implements either theory - the outcomes will vary depending on the actions taken to implement them. Granted if the wrong concept is attempted in the wrong country, the affects it will have in the long run can be extremely harmful to the citizens of the country and all of its aspects. And in the other hand, if the correct concept is implementedRead MoreEssay on Both Globalization and Localization Provide Benefits1566 Words   |  7 PagesIn The Complexities and Contradictions of Globalization, James Rosenau discusses the concepts of globalization and localization. International politics offers many examples of both of these concepts, those of which will be discussed in this essay. These concepts can be somewhat misleading, however. Globalization is not the same as globalism, which points to aspirations for a state of affairs where values are shared by or pertinent to all the world’s more than 5 billion people, their environmentRead MoreGlobalization : The Super Story1366 Words   |  6 PagesFriedman’s article, Globalization: The Super-Story, he defines globalization as the inexorable integration of markets, transportation systems, and communication systems to a degree never witnessed before. In simple terms, globalization is the process of international mingle that comes from the interchange of world views. Friedman is one of the key protagonists of the concept of globalization and defines this new system with a series of key words and three balances which make up the globalization system. FriedmanRead MoreHybridity As The Cultural Effect Of Globalization- Introduction1563 Words   |  7 PagesHybridity as the cultural effect of globalization- Introduction According to Avtar Brah and Annie Coombes, the term hybridity originated as a biological term that was used to describe the outcome of a crossing of two or more plants or species. It is now a term that is used for a wide range of social and cultural phenomena involving mixing, and has become a key concept within cultural criticism and post-colonial theory (A. Brah and A.E. Coombes. 2000.). Marwan Kraidy defines the term as theRead MoreGlobalization and Modernization1215 Words   |  5 Pagesï » ¿Globalization and Modernization 1 Globalization and Modernization The phenomenon of globalization has become a fact of life, not only in the academic discipline of economics but communication and technology as well as political science and international relations. Globalization necessities a reflection of its intrinsic uncertainties and paradoxes. For example, the trend can not only sponsor the exchange of social and technical knowledge, but also assists synchronization amongst organized crimeRead MoreThe Cultural Dynamics Of Globalization1062 Words   |  5 Pageslife’s work to attempt an understanding of the facets surrounding the concept of globalization, especially through a cultural lens. Large scale globalization is something that historians have traced back to the early 19th century, but it has developed increasingly quickly and continually in the 20th century. (Ritzer and Dean, 2015) When studying globalization, it is impractical to view it a question of being simply something new or old, but rather as a process that constantly affe cts the world andRead Moreis globalization undermining state sovereignty?1559 Words   |  7 Pagesthrough primitive trade and migration, globalization has become a major factor in the world organization since the twentieth century. With the creation of transnational companies, intergovernmental and non-governmental organizations, political and economic associations appeared new powerful actors that cannot be left apart in states’ decisions and whose influence may, according to some, threaten the authority of nation-states. Indeed it can be thought that globalization is causing the end of borders between