The term
globalization refers to the international integration of isolated geographical
areas, communities and people through exchange of trade and commerce; ideas;
culture and products. Here is a sample essay on globalization.
History
The history of
globalization goes back to the beginning of ancient civilizations of
Mesopotamia, Egypt, Indus Valley and China. However it was only with the
discovery of the ‘New World’ during the age of empires (15th and 16th
centuries) that different regions of the world began to be integrated together.
The Spanish and Portuguese Empires were followed by the English, Dutch and
French empires in Asia and Africa. Global movement of trade and people got a
further fillip with the industrial revolution and new discoveries in
transportation. Although the globalization suffered a setback during the World
Wars and the Cold War, post Soviet era saw a massive increase in the global
movements of trade and people due to the neo-liberal policies of the various
national governments and the revolution in information technology.
Two
aspects of globalization
Although the term
may refer to several issues there are, however, certain chief characteristics
of globalization.
· Economic
Globalization:
Economic globalization entails
integration of national markets with the global capital markets, liberalization
of the trade barriers, removal of protective tariffs and import taxes. Two
success stories of such economic globalization are India and China. China’s
economic reform in the 1980s was followed by an unprecedented level of economic
growth. On the other hand, India’s economic reforms of 1990s and the success in
business process outsourcing contributed largely to poverty alleviation and GDP
growth. However on the flip-side economic globalization has also opened up
potential sources of danger. Due to increasing economic integration of the
world market, a financial crisis may snowball into a major global crisis such
as economic recession of USA between 2007 and 2009 and the ongoing Euro zone
crisis. Further, such economic globalization has made poor countries dependent
on developed countries through international financial institutions and their
policies.
·
Socio-Cultural
Globalization:
Cross-cultural movement of ideas,
culture, languages may occur due to globalization. Spread of popular music,
cinema and other artistic endeavors are some of the most important
results of cultural globalization. However, even here we see a greater outflow
of Western cultural forms to other parts of the world than the reverse. Thus,
US-based TV shows are now shown via satellite television all over the world; while
American brands such as MacDonald’s and Starbucks export not only fast food but
also cultural values. Further English has emerged as a major global language in
the world. Finally, the internet revolution is major consequence of
globalization. By 2010, it was estimated that almost 22 percent of the world’s
population had access to the internet. The rise of social media is another
major factor contributing to the exchange of ideas and public opinion.
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