A grants the easy and economical transfer of goods,

A process of elevated
interaction and integration amidst the population, companies and bureaucracy of
different nations is referred to as Globalization. It is a process driven by
international trade and investment which has its effects on social as well as
cultural aspects. Globalization started thousands of years ago. Individuals and
companies would travel long distances to export and import goods from one
nation to another on the basis of availability and requirement in their nations.
The establishment of enterprises in foreign nations in the early years is a
proof of globalization’s beginning.

The advancements in
technologies and adoption of new protocols of free trade has boomed the process
of globalization to a great extent. The progress of the economy of developing
countries, exposure of new products and ideas, better quality products due to
competition and the availability of products from the world has lead to equality.
Massive amount of profits and exposure of small producers to the world gives
rise to new opportunities. This proves that the world has entered a
quality phase of growth and equality.

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“Arguing against globalization is like arguing against
gravity.” – Kofi Annan, Former Secretary General of the United Nations.

The types of globalization include:

1.      Economic
Globalization – A free trade arrangement that grants the easy and economical transfer
of goods, productions, capitals and resources. This aids the problems of places
where there is scarcity of resources, spices, goods or other products. It benefits
a multinational corporation as well as a small scale producer as their product
can reach to different nations where it is required. For some products, the
resources and raw materials may not be available at the place of origin, so to
aid these parts, resources or raw materials are either imported or assembled in
a branch there and in this way, it helps the corporation or a producer to get
the required resources at a reasonable price and also get better quality
products. In a recent press conference of Apple, Tim Cook was questioned for
their products assembly in China. Tim stated, “The availability of machinery and
the minute craftsmanship of workers in China is unmatched.” The minute parts
and assembly would cost him a good amount in the United States and still might
not be able to match the perfection of the product. Manufacturing, parts and
assembly of products in Beijing, China at a fair price and exposure of a
perfect product to the world has led to the success of the company as well as
the economy.

2.      Political
Globalization – Different nations, different rulers and democracies with varied
thoughts, varied culture and population. Thus, policies vary in different
nations. United Nations brings all the participant nations to the same table
which makes them serve the purpose of equality and humanity. The objectives
include social as well as economic development, maintaining peace and security,
protecting the environment and providing humanitarian aid during epidemics,
famine or armed conflicts. The protocol of bilateral agreement of Globalization
and Free trade, adoption or modification of protocols according to the requirement
for the growth and development of the economy and the population.

3.      Technological
Globalization – The right to have access to the latest technology is the
concept of Technological Globalization. The import and export of the newest
products in the market has given the benefit of products reaching worldwide.
This gives a rise to a constant competition of creative products and new ideas
at an affordable price most of the times. The unbelievable advancements in
technology and the internet have played a major role in the process of
Globalization. The ease of use, automation, and better efficiency of power
sources, electric powered vehicles and the development of a new technology or a
product each day gives the idea of technological development.

4.      Financial Globalization
– The increase in global linkages through cross-border financial flows i.e. the
interconnection of world’s markets. For e.g. Stock Markets

5.      Cultural
Globalization – The availability of entertainment, food, apparels from all
parts of the world at every nation and thus destroying culture barriers giving
rise to exposure to new cultures. Accepting and experimenting in lifestyles.
Thus, forming a feeling of equality in diversity.

6.      Sociological
Globalization – All humans are born as equal and should be treated equally. The
social taboos in India have decreased to a wide extent due to sociological
globalization. Women empowerment and Human rights policies formed by the United
Nations are an example of sociological globalization.

7.      Ecological
Globalization – Destroying the idea of the world being divided into continents
or countries and considering the earth ecosystem as a single ecosystem and
fighting against the arising ecological issues such as Global warming,
protecting endangered species, biodiversity and creation of a healthy ecosystem
for all mankind, not just a nation, or a continent!

 

v  Advantages Of
Globalization:

§     
Increased
free trade and communications between nations,

§     
Increased
access to technology, media, healthcare, education and other resources,

§     
Increased
quality of consumer goods at a reasonable price,

§     
Foreign
Direct Investments increases at a rapid rate helping elevate in succeeding
technology transfer, industrial restructuring and the growth of global
companies,

§     
Globalization
enables large companies to minimize the cost and increase quality which supports
further growth,

§     
Globalization
broadens our mind and show us that we belong to humankind,

§     
Culture
exposure makes cultures rich in diversity and diffuse the narrowness of the
mind,

§     
Globalization
helps us fight illiteracy, child-labor amd promote education,

§     
Globalization
improves international relations and friendliness among other countries,

§     
Students
can study in other nations and get exposure to newer opportunities and
cultures,

§     
A
political leader can gather a huge amount of knowledge about people and the
governments due to globalization,

§     
A
small startup can research and sell or market their products internationally
due to globalization,

§     
Availability
of new products from foreign countries,

§     
Economic
development of the country as well as the economy of the world,

§     
Decrease
in the older protocols and belief and adoption of western culture.

 


Disadvantages
Of Globalization:

§     
The
rich and poor crisis are still an issue. The rich population has a greater
share and profit due to globalization by the resources of education and
technology,

§     
The
exploitation of the earth’s resources to an unbelievable extent is done by
globalized businesses,

§     
The
economy of the world is now inter-connected. The downfall of one major economic
nation has the effect of adverse downfall on other nations,

§     
Environment
pollution is always a critical issue. Environment is affected by the transport
of goods and burning of fuels, poisonous gases from industries, dumping of effluent
waste into rivers, etc,

§     
Overcrowding
of tourists has decreased the charm and maintenance of tourism spots,

§     
Local
businesses cannot compete with multinational company products and thus suffer
loss of importance and employment as the multinational companies can produce on
a large scale and sell at throwaway prices,

§     
Small
scale businesses lose their value and many shutdown,

§     
Many
populations and cities lose their culture, heritage and traditions on following
the western world path,

§     
The
unemployment rate should have been decreased by globalization but it has
increased in a manner. Skilled workers are at an all time requirement but unskilled
workers are out of work,

§     
Dependency
on Superpower countries or developed countries by developing countries,

§     
The
spreading of a new disease or virus also can now occur globally due to globalization,

§     
Globalization
has been responsible for the deforestation in a large extent,

§     
Multi-national
companies are doubted to be not providing good working conditions for their
employees and high stress levels are observed in the work atmosphere.