Globalization, Can It Change the World?

In Short:

First of all, Globalization can be defined as Integration and Interaction among the bodies (eg: People, Companies, Governments, NGOs, Etc) of two or more separate nation/s. It is a process fueled by International Trade and Investment with immense support from Information Technology. Globalization has its impact on the Environment, Sociology and Ecological Culture, Economic Development and Prosperity of Nations around the World.

What Is Globalization:

Globalization is the process in which people, ideas and goods distribute throughout the world, penetrating cultures, governments and economies. It is the process by which 2 or more nations are getting interconnected by the goods, views and technologies. Globalization came to existence when the world got into International Trade. Globalization has been taking place for millennia. The Roman Empire spread its way of Economic and Government Systems throughout a major portion of the Earth's lands.

Brief History of Globalization:

However the world got to see the full potential of Globalization after the 1980s. The early 21st Century has seen a drastic improvement of Globalization in the pace of Global Integration mainly paced by advances in Information Technology and Telecommunication. The flow of ideas, knowledge and thoughts are flowing at an increasing rate only possible through the use of Information Technology.

Benefits:

Policy and Technological Improvements have spurred Cross Border Trades like import and export of Goods and Services. Investment and Migration have also seen a boost that is so large that many experts believe the world has entered a new era of quantitative economic development. Experts has that since the 1950s, the world has seen a 20 times growth in International Trade and International Finance. Today Globalization has got better, richer and cheaper.

Consequences:

Globalization theory suggests the the under Developed Countries will see an improvement in the living standards of the people through increased trade. However, the reality is that the Multinational Companies are the ones who has been most fruitful at the expense of Local Companies who can't compete with the forces of the Giant MNCs. Globalization has also impacted the Ecological Balance of the world through ever rising Carbon Emission, Green House Gases, etc due to increased Industrialization. As a the world weather is changing at a dramatic pace.

Conclusion:

Resistance of Globalization has taken place both at local and International fields but at a balanced rate. Policy makers need to find out the right balance of benefits and consequences of Globalization.

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