what is globalisation writer any two positive as well as negative impacts of globalisation in Indian economy
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Free 3000 words Globalisation Essay: The concept of globalization is currently a popular but very controversial issue, and has been one of the most widely debated issues since communism collapsed. ‘Debates currently raging about globalization include whether it even exists, whether it is more important now than at some earlier date, whether it is displacing the nation state, and whether it is more important than regionalism or localism’ (Stallings 2000). It means different things to different people, but in most cases remain a loose and ill-defined concept. Globalization has several definitions, but an undisputable fact which everyone agrees to is the fact that it is a complex process that has wide and varying impacts on economies, both developed and developing.
Looking critically at the concept, globalization in its broadest sense can be said to be a prismatic, complex, and multidisciplinary topic. It can be examined from several angles which includes not only economic, the most common viewpoint, but also social, cultural, ideological and political ones. James Rosenau, a foremost political scientist, defined globalization as ‘a label that is presently in vogue to account for peoples, activities, norms, ideas, goods, services, and currencies that are decreasingly confined to a geographic space and its local and established practices’ (Stallings 2000). For those looking at it from the economic angle, it refers to the increasingly internationalized character of the emerging global economy. To the lawyers, it has to do with ‘the threatened changes in legal status of states and their citizens” (Saker et al. 2004). It means different things to different people, but the bottom-line is that these disciplinary-based viewpoints fail to take into consideration the multiplicity and complexity of change processes, and therefore fail to appreciate their effects, both directly and indirectly.
Globalization is widely accepted and referred to as ‘the widening, deepening and speeding up of world-wide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual’ (Lawal, 2006). This widely accepted definition shows the way in which globalization today connects the cultures and communities in one corner of the world to development occurring in another country.