Globalization Term Paper Example | Topics and Well Written Essays - 1750 words

Globalization - Term Paper Example assumption that globalization entails economic integration, exchange of knowledge, as well as interdependence of political and legislative decisions of world countries. Among the latest definitions of globalization is that of Al-Rodhan, who concludes that â€Å"globalization is a process that encompasses the causes, course, and consequences of transnational and transcultural integration of human and non-human activities† (Al-Rodhan 5). Therefore, it can be said that globalization is the process which makes integration and communication between countries, nations, businesses and individuals easier and less dependent on political or territorial constraints. This means that state boundaries or long distances play a less important role in communication and cooperation of nations. As countries become more integrated, they become more interconnected and interdependent in many aspects of their operations. Technological developments in transportation and communication have made it pos sible for world countries and people to become closer. The Internet, in its turn, has sped up and intensified the process. Availability and relative cheapness of Internet access around the world has diluted the states’ boundaries having allowed more people and businesses to work internationally. This has made different types of globalizations become more distinct and powerful. Among the major types of globalization are economic (financial), socio-cultural, and political (Dreher, Gaston, and Martens 2). Economic and financial types of globalization are among the most discussed ones because they are related to interdependence of world economies, increased flows of international capital and cross-border trade of goods and services (Shangquan 1). Technological advancements in transportation and... The intention of this study is globalization as a very complex process that touches all the spheres of people’s lives. Consequently, just like the majority of internal processes of each country, globalization evokes both positive and negative consequences. On a positive side are, definitely, the spread of technologies, free trade, and an increase in exchange of commodities between the countries. Globalization brings economic and financial development to less developed countries, and new business opportunities to the whole world society. Still, it cannot be said that globalization can be made to work for all, because advantages in some aspects bring disadvantages in others. For example, the spread of communication and Internet technologies has allowed businesses to outsource jobs from poorer countries to take advantage of the lower wage rates. As a result, home country professionals either lose their jobs or have to work for lower salaries. Similarly, outsourcing of business pr ocesses, while is a great driver for India’s economy, has lead to displacement of some service-sector jobs in developed countries. Globalization diminishes the importance of borders and, supported by the Internet, allows for free movement of information. As a result, it is becoming more and more difficult for governments to control and suppress information they prefer to restrict. The Internet even provides large companies with opportunities to show self-governing behavior.