Globalization Is Not A New Phenomenon - 917 Words

Globalisation is not a new phenomenon but continuation of development from the 15th century. It began to flourish due to a boom in global trading and introduction of direct foreign investment post World War 2. Since the 1970s globalisation has accelerated becoming a highly integrated system with the availability of technology, investment liberalisation and increased economic power of transnational corporations. So is this a clear indicator of national economies becoming interdependent or â€Å"the intensification of worldwide social relations† as described by Anthony Giddens (1990: 64). National economic inter-reliance first occurred through the trade of raw materials, goods and services from one country to another. Most of the global economic expansion in the 19th and early 20th century took this form, especially in Western Europe and the United States of America. However globalisation has become more complex due to the emergence of new economies from the periphery (Russia, Eastern Europe and China are all examples of this). China re-emerged their economy into the global market in 1979 with the implementation of a socialist market economy. This both reduced barriers and allowed private investment which lead to increased production and distribution. By 2005 China’s economy had grown so much that the â€Å"Chinese private sector accounted for 70% of GDP† . This thriving economy opened Asia to investors, with it now exploited as a cheap source of labour. After Europe, Asia is theShow MoreRelatedGlobalization Is Not A New Phenomenon2523 Words   |  11 PagesGlobalization is not a new phenomenon; there is an increasing occurrence in the adoption of methods and operations of businesses that allow a greater level of globalization. Theodore Levitt, an editor for the Harvard Business Review, popularized the term ‘Globalization’; he is widely credited with coining the term and bringing it into the mainstream business audience, mentioning it in an article entitled â€Å"Globalization of Markets† in the May-June 1983 issue of Harvard Business Review, due to thisRead MoreGlobalization : A New Phenomenon And The World We Live Today Essay1357 Words   |  6 Pagesis also linked to universalising markets and production, technological innovation, privatisation of state agencies, trans-national organisations and spread of common culture (Urzua 2000: 421). Wood (2006: 29) stated that globalisation is not a new phenomenon and that the potential effects, both positive and negative, where somewhat predicted by Marx and Engels. They expressed concepts such as rapid change and uncertainty, integrated global supply chains and spread of common cultures across all nationsRead MoreEssay on Going Global Presentation965 Words   |  4 Pagesa myth or reality? The question of whether the globalization is a myth or reality is easily answered to my mind: it is definitely a reality. But to what extend can we call it a reality? In my presentation I’ll disclose the term of globalization, cover the spheres in which globalization can be applied and dwell on the advantages and disadvantages of it. Finally I’ll come to the conclusion that globalization is an inevitable and developing phenomenon which requires citizens of all countries to findRead MoreThe Impact Of Globalization On Canada And Canada931 Words   |  4 Pages Globalization can be defined as the movement towards economic, financial, trade and communications integration, allowing for a state of global interconnectedness. Globalization affects all countries in different ways. Globalization has had a positive impact on Canada. The Canadian economy has grown, international conflicts are becoming less prevalent, Canadian tourism has increased, Canadians have seen an unpreced ented rate of cultural integration, even the life expectancy of Canadian citizens isRead MoreGlobalisation Leads to the Homogenization of Cultures Essay1122 Words   |  5 Pageseconomy (Seitz, 1995, p. 26). Under such a background, the World Trade Organization (WTO) was founded, and then accelerated the development of economic globalization. As there is an inseparable relationship between economy and culture, the more the trend of economic globalization accelerates, the faster the trend of various culture globalization blends (Seitz, 1995, p. 27). Collisions between various cultures may have different consequences. Some scholars think that the long-term results of cultureRead MoreGlobalization And Its Impact On Society Essay1550 Words   |  7 PagesGlobalization defines practically all facets of modern life. The jobs available to the public, the cultures people embody/emulate, the relationships individuals engage in, are all continuously altered by the profound forces of the glo balizing process. Capital, people, images, commodities and ideology transcend national borders, and information races around the globe at accelerating speeds (Inda 4). The theme of globalization has emerged generating considerable amounts of controversy in its wake,Read MoreCulture Globalization and Its Impact on Recreation Culture1353 Words   |  6 Pagestwenty century until that day by globalization theory, its concept and future impacts . the scientists opinions had varied about globalization repercussions at rising countries including the Arab and Islamic countries . cultural globalization is one of globalization fields which correlated by cultural side , all life fields impacted by globalization , the sport field is one of fields which impact by social phenomenon what appear on societies , but globalization appearance and its effect on anyRead MoreGlobalization And Its Impact On Modern Society1242 Words   |  5 Pages1990’s, the term globalization has become a bit of a buzzword, prevalent in the speech of policy makers, popular press, and academic journals. It is used frequently to describe the †¦. . Its consistent use has led many people to a certain understanding of it most basic meaning, but it is an immensely complex concept that can not be truly understood at the top layer of meaning which is prevalent among general society. There are multiple varying definitions for the globalization phenomenon. Many peopleRead MoreEssay Creating a Better Future Through Globalization1536 Words   |  7 PagesThe term â€Å"globalization† was known in the common vocabulary in the 1980. It is used to describe the increased movement of people, knowledge, goods, and money across national borders. It has led to increased interconnectedness among the worlds populations, economically, politically, socially and culturally (T. L. Friedman 6-14) . Even though globalization often is thought of in economic terms, this process has many social and political implications as well. The globalization of today’s world throughRead MoreNo Cringe At The Third World Thought Of Arranged Marriages1353 Words   |  6 PagesSome cringe at the third world thought of arranged marriage. However, Ji Hyun Lee’s article in The New York Times titled, â€Å"Modern Lessons From Arranged Marriages†, begins to raise questions concerning how lessons from this culturally unique phenomenon may be able to aid in non-arranged marriages in the United States with the help of experts. Michael J. Rosenfeld, associate sociology professor at Stanford University claims, â€Å"I don’t think love marriage and arranged marriage are as different as we