Question

write essay on globalization and 21 century​

Answer 1

Answer:

Globalization is an irreversible and irresistible phenomenon. It is very famous all over the world. While dilating on the subject, it is important to note that globalization not only affects us as a citizen but also as “producer-consumer in the global economy”.

In the modern contemporary world, intense debate revolves around the term “globalization”, which is even today a continuous issue.

Before exploring the concept, we should take a look over the different definitions of the phenomenon. Globalization can be defined as “closely interrelated integration of market in terms of goods, services and capital”. It can also be defined as “gradual erosion of boundaries between states through increased economic interdependence and interlinkages can be termed as globalization.

From the above mentioned definitions, we can assume that globalization is the mutual sharing of goods, services and capital between or among states. It is also gradually making states closer and integrated. There are different theories about the beginning of the concept of globalization.

Some are of the view that it started from the mid of 20th century with woods conference 1944. While the others are of the view that this concept was properly started with the establishment of W.T.O in 1995. Whatever the reality is, it is true that the pace of globalization was accelerated with World trading Organization. the main agenda of this organization was to end border and fasten the trade between the states.

World bank also came in this battle of evolution of globalization and identifies three waves of globalization focusing on economic integration.

1. First wave of globalization from 1854 to 1914.

2. Second wave of globalization from 1945 to 1973.

3. Third wave of globalization from 1973 till today.

In the post 1973 era, the cold war subsided and there was a quantum leap forward in the “economic integration”. The free market economy became the guiding principal and global economy spread to the larger part of the world.

There is a difference of opinion among people for beginning of the concept but nobody can deny its importance in the modern contemporary world. From now to onward, we will examine how trade, growth and poverty are interlinked and how best the benefits of globalization acquired to ameliorate threat to humanity. Presumably, solutions to such problems would then avert a backlash against globalization.

Step-by-step explanation:

Answer 2

Step-by-step explanation:

globalization means the spreading of a business, culture, or any technology on an international level. When the boundaries of countries and continents matter no more, and the whole world becomes one global village in itself. Globalization is an effort to reduce the geographical and political barriers for the smooth functioning of any business.

There are four main factors that form the four pillars of globalization. These are the free flow of goods, capitals, technology, and labors, all across the world. Although, many of the experts that support globalization clearly refuse to acknowledge the free flow of labor as their work culture.

The international phenomenon of global culture presents many implications and requires a specific environment to flourish. For instance, it needs the other countries to come to a mutual agreement in terms of political, cultural, and economic policies. There is greater sharing of ideas and knowledge and liberalization has gained a huge importance.

Undoubtedly, globalization helps in improving the economic growth rate of the developing countries. The advanced global policies also inspire businesses to work in a cost-effective way. As a result, the production quality is enhanced and employment opportunities are also rising in the domestic countries.

However, there are still some negative consequences of globalization that are yet to be dealt with. It leads to greater economic and socio-cultural disparities between the developed and the developing countries. Due to the MNC culture, the small-scale industries are losing their place in the market.

Essay on Globalisation – In India (Essay 3 – 400 Words)

Exchanges and integration of social aspect of people along with their cultural and economic prospects is what we term as Globalization. It is considered as a relatively new term, which has been in discussion since the nineties.

Initial Steps towards Globalization:

India has been an exporter of various goods to other countries since the earlier times. Hence Globalization, for India, is not something new. However, it was only around in the early nineties that India opened up its economy for the world as it faced a major crisis of severe crunch of foreign exchange. Since then, there has been a major shift in the government’s strategies while dealing with the PSUs along with a reduction in the monopoly of the government organisations perfectly blended with the introduction of the private companies so as to achieve a sustainable growth and recognition across the world.

The Measurement of Success:

The success of such measures can be measured in the form of the GDP of India which hovered around 5.6% during the year 1990-91 and has been now around 8.9% during the first quarter of 2018-19. In fact, in the year 1996-97, it was said to have peaked up to as high as 77.8%. India’s global position is improved tremendously due to the steady growth in the GDP thus furthering the impact of globalization on India. As on date, India is ranked as the sixth biggest economy in the world. This globalization leading to the integration and trade has been instrumental in reducing the poverty rate as well.