The Opportunities and Power of Globalization - 537 Words

Globalization is a power that affects everyone on the world. Globalization is when companies expand internationally. Globalization offers a great deal of opportunities such as opening up new trade routes and new technology. Globalization is seen differently by different people. M. Khan (2004) argues, â€Å"for the economist, globalization is essential the emergence of a global market. Sociologists see globalization as the celebration of diversity and the convergence of social preferences in matters of lifestyle and social values†. In a way all of these perspectives are true. Some of the advantages of globalization are growth in the economy and a decrease in poverty. Globalization according to P. Mourdoukoutas (2011) â€Å"businesses to communicate efficiently and effectively with their partners, suppliers, and customers and manage better their supplies, inventories, and distribution network†. Because businesses are able to communicate they can grow and then allowi ng the economy to grow. D. Griswold (2000) explains: â€Å"growth in turn leads to poverty reduction because a World Bank study found that periods of sustained economic growth are almost always accompanied by reductions in poverty. Specifically, the study found that poverty fell in 77 of the 88 decade.† Looking at globalization from this point of view makes the reader bias towards the positive effects. But nothing is entirely good. Globalization like most things has some drawbacks. One of the biggest drawbacks ofShow MoreRelatedGlobalization of the Economy1729 Words   |  7 PagesEconomic globalization has voluminous positive influences on international security as well. The most important effect of economic globalization is that it curbs the authority of state. It also reduces states’ dependence on military based security and ultimately reduces states’ monopoly on security. This effect is considered by many, a prime factor contributing towards peace and stability. There are number of factors associated with economic globalization which affects states authority. FirstlyRead MoreGlobalization : The Super Story1366 Words   |  6 PagesFriedman’s article, Globalization: The Super-Story, he defines globalization as the inexorable integration of markets, transportation systems, and communication systems to a degree never witnessed before. In simple terms, globalization is the process of international mingle that comes from the interchange of world views. Friedman is one of the key protagonists of the concept of globalization and defines this new system with a series of key words and three balances which make up the globalization system. FriedmanRead MoreGlobal Trade : Identify The Losers1626 Words   |  7 PagesMultinational companies have been doing business in other countries for a century; however globalization has changed the picture for even smaller companies around the world. Smaller companies can also get their market share in the global economy. In this paper, globalization is defined, as well as identifying various challenges and opportunities associated with globalization. Defining Globalization Globalization is the distribution of products and services to nations around the world. Each nationRead MoreGlobalization is Rooted in Neo-liberalism and Liberalism1401 Words   |  6 PagesA closer look at the changes in the patterns of development in the contemporary globalized world denotes that globalization is a reality. Globalization is mainly rooted in the theoretical concepts of liberalism and neo-liberalism, which opine that the only means through which global development can be attained is through the promotion of a laissez faire state across the globe. In this way, it becomes easy to spur development due to the opening up of states for trade and other exchanges in the politicalRead MoreGlobalization Is Not An Irreversible Process1502 Words   |  7 Pages Globalization has become a clichà © in everyday habit, the idea is not new. The initial trend of globalization took place between 1870 and 1914. This was triggered by a combination of falling costs in t ransportation and a reduction in trade barriers, which opened up the possibility for a productive use of land .This wave of globalization ground to a halt in 1914. Despite unprecedented growth in the economy and the reduction in poverty, the impact of globalization on inequality withinRead MoreGlobalization : A Deeper Look At Globalization1315 Words   |  6 PagesGlobalization can be described as â€Å"the increasing economic, cultural, demographic, political, and environmental interdependence of different places around the world,†(hhhknights.com). Due to the rapid exchange of goods, services, and ideas, globalization is at the forefront of society. A deeper look at globalization frames it as the increasingly interconnected process that restructures social, cultural, economic, and political systems (Nagel, 2003, p. 228). From the above definitions, it is clearRead MoreGlobalization Is A Concept That Can Be Difficult1627 Words   |  7 PagesGlobalization is a concept that can be difficult to fully comprehend, because it is influenced by the theoretical underpinnings of governance, economics, politics, and even culture. Stief (2014) describes globalization as, â€Å"the process of increased interconnectedness among countries most notably in the areas of economics, politics, and culture† (para. 2). As technology bridges the knowledge gap and creates avenues, venues, and networks to connect people, processes, and businesses, the level of generalRead MoreGlobalization Brings Opportunities And Challenges1394 Words   |  6 PagesAhmad zreika Student ID:201415689 Date:17 Nov/2015 Globalisation bring both opportunities and challenges. Discuss It might not be the first time that you hear about what is called globalization, but you have never thought what does it exactly means and what are its elements because it is not easy to be defined .In a brief summary, Three main elements are involved in the process of globalization which are the people, companies, and governments of different countries in which they uniteRead MoreThe Spectacle Of Mega Events Essay1191 Words   |  5 PagesSebastian Van Coevorden International Relations and Sports Response Paper The Spectacle of Mega-Events A mega-event can serve as a unique opportunity to form a host-state’s vision of itself. It allows a government to essentially form an identity around the representation of the host-state within the mega-event. The Olympics can particularly serve to achieve this objective as they maintain an elaborate and extravagant spectacle of the Opening Ceremony. It means that an Olympic games can be a state’sRead MoreGlobalization Paper1190 Words   |  5 PagesGlobalization Paper GBM/380 January 10, 2011 Professor Jing Liu Globalization Globalization can be viewed as one of the major influences for the world’s progressions over the past centuries. It is comprehended that globalization has the potential to make countries and societies richer via free trading or little trade barriers providing knowledge and information to people around the world. Others perceive globalization negatively and view it as a major factor to exploit the poor while the