what is globalization ?in about 200words
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hey there : )
Globalization is the spreading of anything worldwide. However, generally it is the process of globalizing products, businesses, technologies, philosophies, etc all through the world. It is the creation of a successful interconnected marketplace without any limitation of time zone and national boundaries. The most common and clear example of globalization is the spread of McDonalds restaurants all around the world. It became so successful in the worldwide markets because of its effective strategy adapting the culture of different countries in their menus to suit local tastes of people. We can say it as internationalization which is a great combination of both, the globalization and the localization.
It is very hard to decide whether the revolution of global marketplace is beneficial or harmful to the humanity. It is still a big confusion. However, it is also tough to ignore that globalization has created greater opportunities to people worldwide. It has changed status and way of living of people in the society to a great extent. It is hugely benefiting the developing nations by providing various developmental opportunities. If we take it positively, it may eradicate the regional diversity and establish a homogenized world culture. It is supported by the information technology and show huge interaction and integration among businesses, companies, government and people of various countries. Globalization has positively and negatively affected the tradition, culture, political system, economic development, lifestyle, prosperity, etc.
hope it helps ^_^
riya3261:
thanks mam❤️
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The term 'globalisation' has been subjected to a variety of interpretations. Though it may simply mean global interconnectedness, it includes a number of interlinked and complex economic, technological, cultural, environmental and political processes.
The concept of globalisation is closely connected to recent changes in the world economy. The entire industrialised world was hit by an economic crisis in the 1970s. Profits fell sharply and capitalist companies were forced to expand the international nature of their production and trade.
In the 1980s and 1990s capitalist corporations of rich countries have sought to increase their share of the world market by moving capital from country to country. Multinational Companies (MNCs), controlled the world market from developed countries but doing business throughout the world and, are the dominant actors in the world economy.
These MNCs are so rich that in terms of resources they rival the state & rules of international trade as well as domestic economic policies of countries throughout the world have been dramatically changed to meet the needs of free flow of capital, technology and profit across national boundaries.
The international economy has been substantially restructured to remove restrictions on such free flow. International economic and trade organisations like the World Bank, the International Monetary Fund and the World Trade Organisation are advocating and controlling this process of restructuring am the politics of the states are modified to meet the requirements of these organisations. The thinking, in these institutions is greatly influenced be 'neoliberal' ideas.
Such ideas had gained popularity in countries like U.K. and U.S.A. in the 1980s and came to replace the ideas of welfare stats Neoliberalism can be interpreted as a new version of individualism. During the process of globalisation neoliberal policies are being implemented in the underdeveloped countries.
The concept of globalisation is closely connected to recent changes in the world economy. The entire industrialised world was hit by an economic crisis in the 1970s. Profits fell sharply and capitalist companies were forced to expand the international nature of their production and trade.
In the 1980s and 1990s capitalist corporations of rich countries have sought to increase their share of the world market by moving capital from country to country. Multinational Companies (MNCs), controlled the world market from developed countries but doing business throughout the world and, are the dominant actors in the world economy.
These MNCs are so rich that in terms of resources they rival the state & rules of international trade as well as domestic economic policies of countries throughout the world have been dramatically changed to meet the needs of free flow of capital, technology and profit across national boundaries.
The international economy has been substantially restructured to remove restrictions on such free flow. International economic and trade organisations like the World Bank, the International Monetary Fund and the World Trade Organisation are advocating and controlling this process of restructuring am the politics of the states are modified to meet the requirements of these organisations. The thinking, in these institutions is greatly influenced be 'neoliberal' ideas.
Such ideas had gained popularity in countries like U.K. and U.S.A. in the 1980s and came to replace the ideas of welfare stats Neoliberalism can be interpreted as a new version of individualism. During the process of globalisation neoliberal policies are being implemented in the underdeveloped countries.
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