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GLOBALIZATION

Globalization refers to the accelerated movement and exchange of people, goods, services, and ideas across the globe, leading to increased interdependence among countries. It has various features including free trade, job creation, and cultural exchange, while also presenting challenges such as cultural loss, economic inequality, and environmental degradation. The phenomenon has evolved over time, significantly influenced by technological advancements and economic policies, resulting in both positive and negative impacts on societies worldwide.

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3 views

GLOBALIZATION

Globalization refers to the accelerated movement and exchange of people, goods, services, and ideas across the globe, leading to increased interdependence among countries. It has various features including free trade, job creation, and cultural exchange, while also presenting challenges such as cultural loss, economic inequality, and environmental degradation. The phenomenon has evolved over time, significantly influenced by technological advancements and economic policies, resulting in both positive and negative impacts on societies worldwide.

Uploaded by

marygelbenito12
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© © All Rights Reserved
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GLOBALIZATION

Globalization means the speedup of movements and exchanges (of human beings,
goods, and services, capital, technologies or cultural practices) all over the planet. One of the
effects of globalization is that it promotes and increases interactions between different regions
and populations around the globe.

According to WHO
● Globalization can be defined as “the increased interconnectedness and interdependence
of peoples and countries. It is generally understood to include two inter- related
elements: the opening of international borders to increasingly fast flows of goods,
services, finance, people and ideas; and the changes in institutions and policies at
national and international levels that facilitate or promote such flows.”

According to the Committee for Development Policy


● (a subsidiary body of the United Nations), from an economic point of view, globalization
can be defined as: “(…) the increasing interdependence of world economies as a result
of the growing scale of cross-border trade of commodities and services, the flow of
international capital and the wide and rapid spread of technologies. It reflects the
continuing expansion and mutual integration of market frontiers (…) and the rapid
growing significance of information in all types of productive activities and marketization
are the two major driving forces for economic globalization.”

FEATURES
Free Trade: This allows countries to exchange goods and services with fewer barriers, like
tariffs, making it easier for businesses to operate across borders.
Liberalization: Refers to reducing government restrictions on economic activities, such as
opening up sectors to foreign businesses.
Job Creation: Globalization can lead to new job opportunities, as companies expand
internationally and need more workers in different countries.
Enhanced Connectivity: Improved communication technologies, like the internet, make it
easier for people worldwide to connect and collaborate.
Interdependence: Countries become more dependent on each other for resources, goods, and
services, creating a global network of cooperation.
Cultural Exchange: Exposure to different cultures increases through media, travel, and trade,
allowing people to learn about new lifestyles, languages, and traditions.
Urbanization: Globalization can drive people to move to cities for better job opportunities,
leading to growth in urban areas.
Improved Standards of Living: With access to global markets, people can afford more
products and services, often leading to better quality of life.
Production Cost: Companies can produce goods in countries where labor and materials are
cheaper, reducing the cost of goods.
Outsourcing: Companies may hire workers from other countries to do specific tasks at a lower
cost, often seen in industries like customer service or manufacturing.
HISTORY
● GLOBALIZATION is a global phenomenon is inherent to human nature. Because of this,
some say globalization began about 60,000 years ago, at the beginning of human
history.
● It continued throughout history, notably through military conquests and exploration
expeditions. But it wasn’t until technological advances in transportation and
communication that globalization speeded up.

TYPES OF GLOBALIZATION
● POLITICAL GLOBALIZATION - refers to the diplomatic negotiations between
nation-states. It includes the standardization of global rules around trade, criminality, and
the rule of law.
● SOCIAL GLOBALIZATION - Also known as sociological globalization, social
globalization refers to the integration of our societies.
● ECONOMIC GLOBALIZATION - refers to the ways corporations do business as
multinational organizations nowadays.
● TECHNOLOGICAL GLOBALIZATION - refers to the spread of technology around the
world.

MAIN TYPES OF GLOBALIZATION


● FINANCIAL GLOBALIZATION- refers to the ease at which money can be spread
around the world.
● CULTURAL GLOBALIZATION - refers to the spread and mixing of cultures around the
world.
● ECOLOGICAL GLOBALIZATION - refers to the idea that the world needs to be
considered one interconnected ecosystem.
● GEOGRAPHICAL GLOBALIZATION - refers to the idea that the world is no longer seen
as groups of distinct nations as much as it once was.

BENEFITS OF GLOBALIZATION
1. It reciprocally developed economies all over the world and increased cultural exchanges.
2. It also allowed financial exchanges between companies, changing the paradigm of work.
3. The origin of goods became secondary and geographic distance is no longer a barrier
for many services to happen.

THE ENGINE OF GLOBALIZATION - AN ECONOMIC EXAMPLE


❖ Globalization has led to a sharp increase in trade and economic exchanges, but also to
a multiplication of financial exchanges.
❖ According to some analysts, globalization has also contributed to improving global
economic conditions, creating much economic wealth.
GLOBALIZATION BENEFITS – A FINANCIAL EXAMPLE
❖ From the 1980s, driven by neo-liberal policies, the world of finance gradually opened.
Many states, particularly the US under Ronald Reagan and the UK under Margaret
Thatcher introduced the famous “3D Policy”:
Disintermediation, Decommissioning, Deregulation.
❖ The idea was to simplify finance regulations, eliminate mediators and break down the
barriers between the world’s financial centers. And the goal was to make it easier to
exchange capital between the world’s financial players.

GLOBALIZATION – A CULTURAL EXAMPLE


❖ The multiplication of economic and financial exchanges has been followed by an
increase in human exchanges such as migration, expatriation or traveling. These human
exchanges have contributed to the development of cultural exchanges. This means that
different customs and habits shared among local communities have been shared among
communities that (used to) have different procedures and even different beliefs.

THE NEGATIVE EFFECTS OF GLOBALIZATION


❖ Globalization is a complex phenomenon. As such, it has a considerable influence on
several areas of contemporary societies.

THE NEGATIVE EFFECTS OF GLOBALIZATION ON CULTURAL LOSS


❖ Specific cultural characteristics from some countries are disappearing.
❖ From languages to traditions or even specific industries.

THE ECONOMIC NEGATIVE EFFECTS OF GLOBALIZATION


❖ The consequences of globalization are far from homogeneous: income inequalities,
disproportional wealth and trades that benefit parties differently.
❖ Some actors (countries, companies, individuals) benefit more from the phenomena of
globalization, while others are sometimes perceived as the “losers” of globalization.
❖ As a matter of fact, a recent report from Oxfamsays that 82% of the world’s generated
wealth goes to 1% of the population.

THE NEGATIVE EFFECTS OF GLOBALIZATION ON THE ENVIRONMENT


❖ The massive development of transport that has been the basis of globalization is also
responsible for serious environmental problems such as greenhouse gas emissions,
global warming or air pollution.
❖ Global economic growth and industrial productivity are both the driving force and the
major consequences of globalization. They also have big environmental consequences
as they contribute to the depletion of natural resources, deforestationand the destruction
of ecosystems and loss of biodiversity.
❖ The worldwide distribution of goods is also creating a big garbage problem, especially on
what concerns plastic pollution.

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