globalization

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History : 

History The earliest written theoretical concepts of globalization were penned by an American entrepreneur-turned-minister Charles Taze Russell who coined the term 'corporate giants' in 1897. Globalization was achieved by the British Empire due to its sheer size and power. British ideals and culture were imposed on other nations during this period. The 19th century is sometimes called "The First Era of Globalization." It was a period characterized by rapid growth in international trade and investment between the European imperial powers, their colonies, and the United States. The "First Era of Globalization" later collapsed during the gold standard crisis and Great Depression in the late 1920s and early 1930s.

What is Globalization? : 

What is Globalization? Globalization describes a process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade. The term is sometimes used to refer specifically to economic globalization. The term can also refer to the transnational circulation of ideas, languages, or popular culture through acculturation. According to small business, globalization is the process by which the economies of countries around the world become increasingly integrated over time.

Post world war II : 

Post world war II Globalization, since World War II, is largely the result of planning by politicians to break down borders hampering trade to increase prosperity and interdependence thereby decreasing the chance of future war. Their work led to the Bretton Woods conference, an agreement by the world's leading politicians to lay down the framework for international commerce and finance, and the founding of several international institutions intended to oversee the processes of globalization. These institutions include the World Bank, IBRD, and the IMF. Globalization has been facilitated by advances in technology which have reduced the costs of trade, and trade negotiation rounds, originally under the auspices of the General Agreement on Tariffs and Trade (GATT), which led to a series of agreements to remove restrictions on free trade.

Effects of Globalization : 

Effects of Globalization Industrial - emergence of worldwide production markets and broader access to a range of foreign products for consumers and companies. Financial - emergence of worldwide financial markets and better access to external financing for borrowers. Economic - realization of a global common market, based on the freedom of exchange of goods and capital. The interconnectedness of these markets, however meant that an economic collapse in any one given country could not be contained. Political - some use "globalization" to mean the creation of a world government which regulates the relationships among governments and guarantees the rights arising from social and economic globalization. Ecological - the advent of global environmental challenges that might be solved with international cooperation. Since many factories are built in developing countries with less environmental regulation, globalism and free trade may increase pollution. Cultural - growth of cross-cultural contacts; advent of new categories of consciousness and identities which embodies cultural diffusion, the desire to increase one's standard of living and enjoy foreign products and ideas, adopt new technology and practices, and participate in a "world culture".

Measurement : 

Measurement Looking specifically at economic globalization demonstrates that it can be measured in different ways. These center around the four main economic flows that characterize globalization: Goods and services, Labor/people, Capital, Technology. As globalization is not only an economic phenomenon, a multivariate approach to measuring globalization is the recent indexcalculated by the Swiss think tank KOF. According to the 2006 index, Singapore, Ireland, Switzerland, the Netherlands, Canada and Denmark are the most globalize, while Indonesia, India and Iran are the least globalize among countries listed.

Advocate : 

Advocate Supporters of free trade claim that globalization increases economic prosperity as well as opportunity. This leads to lower prices, more employment, higher output and a higher standard of living for those in developing countries. Supporters of democratic globalization are sometimes called pro-globalists. They believe that the first phase of globalization, which was market-oriented, should be followed by a phase of building global political institutions representing the will of world citizens.

Advantages And Disadvantages : 

Advantages And Disadvantages AVANTAGES Increased free trade between nations Increased liquidity of capital allowing investors in developed nations to invest in developing nations Corporations have greater flexibility to operate across borders Global mass media ties the world together Greater ease and speed of transportation for goods and people Greater interdependence of nation-states Reduction of likelihood of war between developed nations DISADVATAGES Increased flow of skilled and non-skilled jobs from developed to developing nations as corporations seek out the cheapest labor Threat that control of world media by a handful of corporations will limit cultural expression Greater chance of reactions for globalization being violent in an attempt to preserve cultural heritage International bodies like the WTO infringe on national and individual sovereignty Increase in the chances of civil war within developing countries and open war between developing countries.

Made by- Sonali Chawla : 

Made by- Sonali Chawla Class-XI A

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