The title of your publicationGlobalization Essays

The implications of globalization are greatly felt in every part of the world. One of its effects is encouraging the movement of financial capital, trade, and direct and foreign investments. This refers to the economic exchange of goods and services internationally and international financial flows. (Carr and Chen, 2001). Through the perspective of an optimistic globalist, trade has brought an increase in the volume of trade, whereas, pessimistic globalist suggests that globalization on the world economy has made the world less diverse and homogenous. ( Textbook). Under these two major themes, there are four major concepts that will guide in understanding how globalization and economics relates; stretched social relations, intensification...show more content...

With the increase of trades, more goods and services crossing national borders and spreading its influence abroad. For instance, Macdonald is a huge franchise that many investors have invest in developed and developing countries. It is an American brand that is now a household name in Europe, North–East Asia, South–East Asia, and of which shows how far globalization has spread. FDIs can also help to create more jobs for by investing in more companies and further increase more investments flowing in. As FDIs is one of the key instrumental in affecting the economy, globalization can help to further facilitate the movement of it which supports the argument of the optimistic globalist.

Secondly, the other positive effect of globalization on the world economy is how it may equalize wealth distribution. After the 2000s financial crisis, there was a slow and weak economic growth. Those in the higher income was able to suffer losses while those who were in the middle to lower income were struggling which suggest the widening in income gap. However, the idea of globalization in the eyes of the optimistic is that the increased volume of trade, the access to advancement in technology across the world and stretched communication internationally can help to improve the situation. As the world gets more interconnected, the intensification of goods and services moving across nations increases. This would suggest that there is an increase in trade which will

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Globalization is the increasing interconnectedness of people, places, and cultures throughout the world today. The effects of this homogenizing process that we call globalization can be seen in all aspects of life. From McDonalds being in almost every country, to the majority of North American clothes being made in periphery countries, to the technological ability that allows us to instantly communicate with people anywhere in the world, the effects are everywhere. Economically today,globalization has had both positive and negative effects around the world, with many similarities to colonization. Globalization has also led to increased poverty amongst the global periphery, and a specific group of winners and losers within this process of...show more content...

One of the major reasons for these strong patterns of poverty and debt were the structural adjustment programs, or SAP's. These were loans that were facilitated through the IMF, or International Monetary Fund, and given to periphery countries. Originally the SAP's were to help colonized countries become independent and develop their own economy, but these loans led to huge debts instead. The conditionalities that these loans carried with them prevented these countries from progressing beyond anything except the export of their basic, primary goods. Also, certain quantities, prices, and other demands were required. This was because the western, core countries controlled the IMF and World Bank, meaning that they would want to profit from these SAP's in some manner. So instead of helping these countries develop, they just end up exploiting them instead, leaving huge amounts of debt that these countries cannot pay back (HIPC: Highly Indebted Poor Country). A population of workers are trying to meet the demands of the loans, only to see their primary products prices fall lower and lower, due to synthetics, huge overstocks of these goods, and speculation of a low price elasticity. When this happens, not only can the countries themselves not pay their loans, but also their citizens are now making even less money than they started with. Only the western, core, exploiting countries gain an advantage. Besides SAP's, poor

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Globalization essay

Globalization is the trend towards a single, integrated, and interdependent world. Some humans may not even realize globalization plays a part in our modern lives, but examples that may be classified as evidence of this trend include: the ability to buy products from dining cuisines belonging to myriad of different ethnical cultures, a joint project in which a multinational group of astronauts are sent to the moon, the visit of a Canadian circus troupe to China, the establishment of international and intercontinental trade agreements, and the ability to watch a live television broadcast from a foreign television station. These examples are made from looking at globalization as a whole, but from an economic...show more content...

While trade is one of the major benefits of globalization, there is another that is deeply intertwined with humans' lives: standard of living. "Examples of locations around the world that have dramatically improved their respective living standards since the 1950s would be the Four Tigers of East Asia– Hong Kong, Singapore, Taiwan, and South Korea." (Sarel). These four areas of interest have managed to improve their living standards by deregulating and changing government policies that would impede globalization and open up world trade. "The Globalization Index was compared to the life expectancy for various countries. A strong correlation appears between the degree to which a country has globalized and that country's life expectancy." (Arnold 46). With better living standards, human life can be prolonged, seeing as more resources are given to that organism to ensure longer survival. In developing countries that have opened up their economies recently, we can detect exponential increases in income per person, meaning the citizens of that nation will be able to better provide for themselves and purchase goods and services with money that will be circulated, thereby exciting the economy further. Increasing standard of living is not limited to those in developing countries. Globalization increases the income of countries that have opened up, and when

Globalization could be defined as "the interaction of people, states, or countries through the growth of the international flow of money, ideas, and culture.". The effect globalization has on history is enormous. Without the migration aspect of globalization there would be no culture mix, no economics since no one would be trading, or no politics without the migration of cultures or opinions. Globalization is the basis of why we have history.

In particular, the spread of yoga is a great example of migration. Krishnamacharya had started practicing yoga in Mysore. His yoga that he taught was a combination of different types of yoga from different teachers. Without migration, yoga wouldn't have spread from the traditional techniques to Krishnamacharya's techniques. According to Singleton, he transformed yoga into a ""physical culture" or "exercise"" instead of it being a religious activity (180). From there, he spread yoga throughout the world. By teaching his students his techniques, they were able to spread it to others and get others involved. Without the migration of yoga, the United States and other countries wouldn't be able to enjoy yoga and all that it has to offer.

Comparatively, the Roman Games are another great instance in which the spread of ideas has furthered other parts of the world. The gladiatorial shows were a "sport" for the Romans. They consisted of gladiators being paired against one another to fight until one of them "won," "spared," or "died," (Fagan,

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Conclusion About Globalization Globalization

Whenever I heard about the term globalization the first thing that comes in my mind is gravity. In my humble opinion, the term globalization is just like gravity higher you go higher will be the gravity. Same is the case with the notion of globalization as much as you can discover new facts and figures more changes can be made. In this respect, from the current outlook of this modern world of affair, it would not be wrong to say that globalization has become the most significant part in the lives of human beings, as globalization has influenced nearly all facets of the contemporary world. Globalization has approached in almost every sphere of life, from a kinder garden school to the manufacturing to huge satellites, revolving around this earth. This is all because of the modern advances and transformation that have been made through the technological means and scientific revolutions. In fact, due to the globalization, it would not be wrong to say that the world has gained a unique and new outlook just because of the changes that have been made within the last couple of years, especially within the field of technology. In this regard, due to the development of new–found technological advances, it has become easy for people to link with each other without any kind of barrier and difficulty. For instance, internet has paved the way for the modern form of communication through which people living at different places are interacting with each other without any

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For centuries, globalization has increasingly knitted together the world and created unity out of great diversity. Coca Cola, Disney and McDonald's symbolize the process, along with Sony, Shell Oil and IBM. They are products known and consumed from Ulan Bator to Little Rock – and also powerful companies that drive globalization forward, creating new laws, new business practices, new ways to eat and drink, new hopes and dreams. Optimists look forward to a global village, linked together by the Internet, and benefiting from ever–increasing material well–being. Pessimists see a frightful corporate tyranny destroying the environment, and sweeping away all that is healthy and meaningful to human existence. Human societies across the globe have established progressively closer contacts over many centuries, but recently the pace has dramatically increased. Jet airplanes, cheap telephone service, email, computers, huge oceangoing vessels, instant capital flows, all these have made the world more interdependent than ever. Multinational corporations manufacture products in many countries and sell to consumers around the world. Money, technology and raw materials move ever more swiftly across national borders. Along with products and finances, ideas and cultures circulate more freely. As a result, laws, economies, and social movements are forming at the international level. Many politicians, academics, and journalists treat these trends as both inevitable and (on the whole)

Globalization is defined in the textbook as, "a process of increasing interconnectedness between societies such that events in one part of the world increasingly have effects on peoples and societies far away" (Baylis 9). Societies, as a whole, are affected more extensively by events that take place in other societies. Something that happens in one area of the world can affect people in many different areas around the world. This is a key indicator that globalization is not simply a myth. In the introduction to the textbook, eight main arguments are presented in regards to globalization being a real phenomenon. Some of the most important include; the world economy is more interdependent now than ever; communication have revolutionized ways we deal with the rest of the world; there is now, more than ever, a global culture, so that most urban areas resemble one another maybe even sharing a common culture; and lastly, people are realizing that major risks are global and cannot be dealt with by their state alone (Baylis 9). Because people are naturally curious about other parts of the world, curing that curiosity leads to globalization. Globalization leads to more cultural intermingling and each country has become more open and accepting towards each other. Realism developed as a reaction to idealist policies following the First World War. This theory explains why war occurs between different states. A form of realism,classical realism, directly aligns with the theory that

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Globalization is a historical phenomenon that has been happening for decades now, and whether it generates growth or not is a matter of whose point of view it is. The western countries, especially America and some European nations, are the ones taking full advantage of the benefits of globalization. On the other hand, some experts say that globalization is not doing much for the developing countries, or that it may be even worsening their scenarios of poverty and social inequality. But, I will get back to that later . The point is that globalization, while it was primarily triggered by the emergence of a global market and facilitated by the democratization of communication technologies, also caused cultural, social and even political...show more content...

We are in the era of free information flow and democratization of communication tools. Through the Internet, people are able to produce content and distribute it in many different ways to infinite different people. What is really amazing is that the idea of distance lost its significance. Now, you are able to communicate from your house in the south of Brazil with friends who live in India, America or any other place in the world. Messages are overcoming huge distances because of technological improvements and the implementation of global networks. The third movement is political. Basically, it means that since globalization implies a compression of national boundaries, which were brought about by the increase of trade at the global level, the importance of both the activity of international legal institutions and treats, like the World Trade Organization, and the dialogue between political leaders of different nations has risen significantly. Also, in the globalized world we see a quite interesting phenomenon: the importance given by nations' leaders to their self–image in the international political scene. Think this way: when countries were not dependent on the businesses they had with other countries why would presidents bother to be admired by other national leaders? What we see now is a scenario where nations' leaders struggle for status among the international political elite. The last set

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[GLOBALISATION SUMMARY] October 31, 2016 Toan Nguyen–16438943Page 1 Globalisation Summary Globalisation nowadays is one of the most concern topics which seem useful to understand by people who live in modern society, especially who work in business and economy industry. Globalisation could be learned or understanding in term of history, size, current status, trends and impact of it and whether it is a good or bad thing. First of all, globalisation can be understand as the process by which business, organisation, culture or societies develop international influence or start operating on an international scale. According to (lexicon.ft.com), globalisation in the past often focused on the economic side. However, it has been expanded recently. Activities such as culture, media, and technology now are becoming parts of globalisation. All the biggest companies are likely to become multinational companies result from opportunities created by globalisation process to invest in new potential markets. Furthermore, globalisation has a long history. It has been taking place for hundreds of years but until the 20Th, it grew rapidly. Globalisation could be described as a historical process began when the first movement of African out of their homeland into other parts of the world. Travelling short, then longer distances, migrants, merchants, and others have always taken their ideas, customs, and products into new lands said by (Whitney, T., 2009). Moving to the current state of

Globalization is changing the way of doing business in the world today. It is the new era of business opportunity. For many major companies, going global is a matter of survival, and it means radically changing the way they work. Economic globalization changes both spatial dimension of MNE's (Multinational Enterprises) and creates a need for more flexible production of marketing systems and new forms of organization. Firms trying to position themselves as global players face problems such as the cost of building a simultaneous presence in several product areas and foreign markets. They must also be able to manage cultural difference and be able to carry out effective cross–cultural communication. Global skills must be an integral part of...show more content...

The atmosphere became so tense that even the most trivial business dealings between the American and Chinese became bogged down in charges and counter charges (Tse 32). Differences in customs, behavior, and values result is problems that can be managed only through effective cross–cultural communication and interaction. All employees should learn about the about the influence of culture and be effective cross–cultural communicators if they are to work with minorities within their own society or with foreigners encountered home or abroad (Harris and Moran 59).

Globalization involves doing business around the world in a new way giving companies an opportunity to explore the world market. The idea of a global–player involves low–cost and new customer. In Asia, Europe, and many other parts of the world, there are thousands of service and product markets waiting to be filled. The Chinese consumer market is one of the most attractive countries for the global–player. The Chinese economy has been growing rapidly in past decade under its "open–door" policy on foreign trade, investment and finance For example, China is one of the most discussed topics of a business opportunity for global–player around the world. This is because China has a

What Is "Globalization"?

Globalization is the growth, expansion and integration of different systems such as economics, culture and politics on a global scale. Western countries went to third world countries and persuaded their citizens by blaming their economical and social problems on their technological backwardness rather than the exploitative nature of their political system. By accomplishing this, the western countries gain entry into the nations and trade technology for resources and labour force. This ultimately leads to westernization of the third world nations (James Ferguson 2001 [1990], 407).

Westernization is the assimilation of Western culture. It is the social process of becoming familiar with or converting to the customs...show more content...

Websites invite people from all over the world to come together and discuss and share on forums, and chat groups that allow them to learn about each other's cultures immensely.

Thanks to globalization, English is now the most popular language in the world. Majority of, if not almost entirely, the world's radio programs, mail, cables, and the internet traffic is in English today. As for those people around the world who do not speak English are still not at a disadvantage as much since there are popular sites available that promote the sharing of culture, experiences, and ideas through unconventional means such as photographs and videos. Also thanks to the internet, most the media available online is now also available in most of the major languages spoken around the world such as Spanish, German, Russian, French, Hindi, Arabic, and Hebrew. Ethnic foods that were once limited to just some parts of the world, can now be enjoyed almost anywhere around the world. Very few developing countries now are without luxuries like Italian, Indian, Chinese, and American style cuisines.

Globalization has also shown evidence of causing the members of developing countries to realise the in adequacy of their current lifestyle, culture, and technology, causing them to adapt and mimic foreign practices, lifestyles and cultures in order to improve their current standard of living. A shift that is a Get

What pushed people towards the idea of globalization? Globalization is the increasing interactions of people for money, ideas, and culture. The earliest form of globalization in the world was the idea of hunting and gathering societies. Hunting and gathering societies were groups of people interacting with each other for new ideas and a better chance of survival. Hunting and gathering societies were replaced by civilizations with the new idea of agriculture and farming. With the abundance of food, populations could now increase and people no longer had to embark on extensive travel for food. This allowed for people to create new technology, ideas, religions,culture, and goods without worrying so much about survival. All over the world people are creating new things, but they are doing this with different materials and ideas that others did not have. Some people wanted money by selling their things to others. Other people's religions required them to spread the word and recruit more people into believing in it. Although people wanted to spread theirreligion, others did not. This caused great conflict between civilizations with different beliefs. Others who were interacting with each other wanted to adopt or purchase these new ideas and things, which led to the term we know as globalization. Globalization was the result of people interacting with each other based on the ideas of trade, war, and religion.

One way people came in contact with one another was by Get

Globalisation is a term that is frequently used but hardly ever defined. It refers to the rapid increase in the share of economic activity taking place across national boundaries.

This goes beyond the international trade in goods and includes the way those goods are produced, the delivery and sale of services, and the movement of capital.

Globalisation it is also an idea of our time, highly contested and widely accepted at the same time. It relates to the economy, politics, culture, society, and generally, with everything we deal with in our everyday lives.

Can be thought of as a process, in which economic markets, technologies, and communications gradually can to exhibit more "global" characteristics, and less...show more content...

Therefore they argue that globalisation is only a process of intense internationalisation (or Tran nationalisation) (Held et all, 1999: 155–171).

However, (Lash and Urry, 1994: 279–312) argued that globalisation deals not only with economic relations but also with cultural, political, social and environmental issues.

It is not a coincidence that the concept of globalisation took off during the time of the information revolution. Even the first traces of globalisation deal, directly or not, with the circulation of information. The circulation, or sometimes imposition, of culture through religions and empires (which imposed information) in the pre–modern era is an example of early globalisation (Held et all, 1999, ch 7).

Waters (1995: 146) says that perhaps the most significant event in 19th century globalisation was when the war correspondent of The Times in the Crimean War of the 1850s was able to telegraph his reports instantly back to London so that events were available almost as soon as they

happened. Taking into account that instantaneous electronic communication is required in order for translational corporations (TNCs) to operate their global activities, the information revolution can be granted as the drive for the twentieth century globalisation.

The European Union

The European Union is a primarily economic and secondary political Union. At the present time the

Effects of globalization in education

Nowadays no one can ignore the importance of education to society. Education is a tool that will allow people to achieve every goal they set for their lives. Learning opens doors to a great world of possibilities that will most likely lead to success. People who are not fortune enough to receive a formal education will have to face a road full of difficulties throughout their lives. It is not a secret that the more education people have, the better standard of living they will enjoy. Globalization has brought an innumerable amount of positive and negative changes to the world. One of those aspects that has been affected by those changes is, without any doubt, education. Globalization has more...show more content... This change is not only having an impact on the students but on the teachers as well. With the new age of technology, different ways to deliver instruction have emerged, and one of them is e–learning. Children and adults can now take advantage of a new way of learning where they do not have to be physically present in a classroom in order to receive an outstanding education (Chinnammai, 2005). From my experience as an on–line student at National University, I can say that this has been a great learning stage that has allowed me to go back to pursue my master's managing my time according to my job and family needs. One of the few negative effects that globalization brings to education is found on the developing countries. While developed countries have been acquiring and using technology for education, developing countries are being left behind (Chinnammai, 2005). Part of the problem is the low budget that is allocated to education in these emergent nations. According to the United Nations Educational Scientific and Cultural Organization (UNESCO) developing countries spend an average of 4.4% of their national income on education. The United States and countries in Western Europe invest 5.5% on average and some countries more than 8% (Federal Ministry for Economic Cooperation and Development, 2010). This budget allocation makes it very complicated to implement

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Abstract– Globalization has impacted nearly every aspect of modern life. While some U.S. citizens may not be able to locate Beijing, China on a map, they certainly purchase a high number of goods that were manufactured there. There is no set definition for globalization, there is also no clear answer to whether or not globalization is good or bad. There are examples of how globalization has helped a country greatly, but there are also examples of globalization causing harm to the growth and prosperity of the nation.

Introduction: The Positions of Globalization Globalization has several different perspectives. One may think that through globalization it will improve communication reducing problems such as poverty and unemployment....show more content...

This results in globalization causing economic difficulties. This occurs because companies will now bring their goods to a country and charge a price that is cheaper than local businesses charge. This will cause local businesses to become obsolete since they cannot afford to lower their prices. "The irony, of course, is that globalization's promise was based on the notion that trading partners become political partners, and that economic interdependence would eliminate the potential for political and military conflict (Annan, 2007, 43)." An example of this was between Germany and Britain. No degree of economic interdependence prevented the First World War. The fallacy of this doctrine is that trade precludes conflict. It also underestimates the pace of globalization and how it threatens the government's ability to protect their citizens. The second reaction is resort to illiberal solutions. It is most apparent to newly liberalized nations with weak political systems, incapable of effectively reacting at a time of economic crisis. It was said that globalization would increase trade thus creating a more broad middle class. This was also seen to be an overly optimistic statement. The third reaction is politics of populism, leaders begin to propose forms of protectionism as a way to offset losses supposedly incurred by competition. "Their solution is for a battered nation to turn away and turn inward,

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Globalisation and global flows of culture have redefined the processes in which we share and connect to ourselves, others, and the world. From its onset, globalisation had both proponents' and critics; some believed that it leads to a rich, hybrid global culture. Others saw it as the west versus the rest, an imprint of Western values and ideologies upon the world's rich and diverse cultures. In exploring global flows ofculture, we can observe these major assumptions about globalisation as well as its changing nature. New, 'reverse' cultural flows have begun to emerge and question these traditional assumptions. The case study of Japan's 'pink globalisation' is one such reverse flow. Globalisation can take on many different shapes and...show more content...

Appadurai terms these global flows as 'scapes', in which media, technology and ideology circulate broadly around the globe. The forces behind this new global imagination and its scapes are no longer nation states but global media corporations. Accelerated by the dawn of the internet and an opening up of transnational borders for economic trade in the 1990's, global media corporations have rapidly penetrated overseas markets with products aimed at consumers in what could be seen as a cultural ideology of consumerism. Cultural globalisation is no longer a case of Americanisation, but rather multiple, competing globalisations of global media corporations. Henry Jenkins observed the impact of these global media corporations which he described as 'corporate convergence.' In addition, we also see a 'grassroots convergence,' in which fans armed with new technologies capable of crossing borders (such as the internet) prescribe to new forms of popular culture. Jenkins observed this convergence coupling as 'pop cosmopolitanism.' This notion of pop cosmopolitanism explains the rise in popularity of a new, reverse flow, in which Japanese popular culture products are being disseminated across the globe.

To demonstrate the active way in which media is appropriated by people

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Kofi Annan, a UN diplomat, once said, "...that arguing against globalization is like arguing against the laws of gravity."

Introduction

It is very important to study globalization because understanding the contemporary international political economy is an essential part of being an informed citizen. Understanding globalization is a very important part of learning about our human involvement with the environment and society. Our daily experiences at...show more content...

One way to classify globalization is as being composed of cultural, economic, political, and technological components that connect groups and individuals across the global landscape. Even though there has been a sharp increase in the technology of communication and it has basically eliminated physical distance, it has created a very different way for us to interact globally.

The main culprit of this has been the Internet. And even though the Internet has been probably the greatest invention this century, it has divided just as many people and groups as it has connected. The other fact is that local interaction between people and groups is still necessary. On the other hand the Internet has opened a huge range of choice for groups as well as individuals. This fact has offered greater depth and more opportunities to choose how much information we get as well as what kind of information we want. Digital technology has definitely changed how groups and individuals interact on a global scale.

How we study Globalization

There are two main theories that help us in observing and studying globalization. Theses two theories are those of political economy and international relations. When studying globalization we also use four other theories in order to gain an accurate perspective on how globalization affects us and how other people view it. Theses theories are realist,

Introduction Globalisation has already existed for thousands of years. People have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. So what is globalisation? Globalisation is a process of interaction and integration among the people, company, and governments of different nations, a process driven by international trade and investment and aided by information technology. Globalisation usually refers to the rapid increase in the share of economic activity taking place national boundaries. Globalisation...show more content...

China is the best example to prove globalisation is good. Government subsidies, import tariffs and lower paid workforces are what make a lot of multi–national companies choose China as one of important steps of their globalisation. The whole world can see how quickly China develops so far and how large potential exists in China in the future. Key players A number of key players are driving globalisation. They include: в–Ў Multinational enterprises that carry out business across national boundaries в–Ў The World Trade Organisation (WTO), through which international trade agreements are negotiated and enforced в–Ў The World Bank and the International Monetary Fund (IMF) which are meant to assist governments in achieving development aims through the provision of loans and technical assistance в–Ў National governments, who together with these international institutions, are instrumental in determining the outcomes of globalisation 'Globalisation benefits all who participate in the globalisation process' Economic globalisation can be measured into four main economic flows: в–Ў Goods and services –Exports and imports are the main national income or per capita of population в–Ў Labour/people – Labour force, net migration rates, inward or outward migration flows в–Ў Capital – Inward or outward direct investment в–Ў Technology – R&D, technological advances such as motorcar, broadband and mobile etc Here, the 'All' who

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Globalization can be defined as "the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets" (Webster Dictionary). It brings countries closer together and impacts things such as human rights, politics, and economics. While Globalization can have positive factors it has its downfalls. Globalization has effects on human well–being in societies around the globe. This process seems to only be suitable for the economic world as well as the commercial world. How would increasing awareness for human rights change anything? "First, the human rights framework adds to development policy the notion that education, food, adequate housing and...show more content...

National governments have at least one major responsibility for their citizens–upholding the security and economic welfare as well as protecting human rights and the environment within nation's borders. Due to worldwide ecological changes, political activity increasingly takes place at the global level. "Under globalization, politics can take place above the state through political integration schemes such as the European Union and through intergovernmental organizations such as the International Monetary Fund, the World Bankand the World Trade Organization." (Global Policy Forum). Who we, as a nation, form an alliance with can be either a negative or positive thing. It all depends on the goods that get imported from other countries to our nation, although at times countries do not have to be allies to receive another country's goods. An example of this would be the United States and China. "Civil society organizations act globally by forming alliances with organizations in other countries, using global communications systems, and lobbying international organizations and other actors directly, instead of working through their national governments" (Global Policy Forum). While it may be alright now there is always the possibility that things can go south and we lose our imports from any country. In the world of Economics there is always one root–labor. Countries in the west

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People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization. Spurred on in the past by merchants, explorers, colonialists and internationalists, globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.

Globalization offers a higher standard of living for people in rich countries and is the only...show more content...

This research also shows that economic growth, on average, raises incomes for both the rich and the poor. It helps to lift the poorest in society out of absolute poverty and does not automatically increase inequality. More importantly, no country has managed to lift itself out of poverty without integrating into the global economy.

The countries that have experienced high and rising levels of poverty are more often than not, the developing countries that have been marginalised from the process of globalization. Think of North Korea or many countries in Africa. Such countries have insufficient levels of international trade and investment not too much. Whether poor countries are poor because they do not trade enough or because poverty stricken countries are prevented from engaging in the global economy, less globalization is generally associated with less development. Ernesto Zedillo, the former president of Mexico seems to have understood the power of globalization when he said, "In every case where a poor nation has significantly overcome its poverty, this has been achieved while engaging in production for export markets and opening itself to the influx of foreign goods, investment and technology that is, by participating in globalization."

One of the most common claims made against globalization is that it increases world poverty. Often this claim is supported with a statistic showing the high rates of poverty in a given