Globalization

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.

What is globalization?

This is a short video which explains more about Globalization

advantages of globalization

Competition between countries drives prices down
companies have more access to different countries, and this allows them to sell their goods and servers to whole sales retailer all around the world.
free trade : countries are now able to trade with eachother due to the reduction of restriction on importing & exporting.
labor moves more freely, meaning workers can move from country to country with relative ease & market their skills
countries are learning more about other cultures in other countries.
globalization will help us raise the global economy.
socially the world has become more open and tolerant towards each other, and people living in other nations are not seen as foreign.

disadvantages of globalization

Globalization leads to explitation of labor
Globalization leaves undeveloped countries behind as it encourages free trade, and this does not provide a developing nation with the protection that they need in order to grow.
companies seek personal gain and large companies have learnt how to use globalization for their personal gain.
loss of culture and identity- countries are beggining to lose their identity due to immigration that is taking place on a progessively large scale.
negative impacts on the environment- more consuption of a wide variety of prducts leads to over production which causes an increase in polution.

Extra information about Globalization

How has technology impacted Globalization?

Advances in technology are one of the main reasons that globalization has escalated in the past decades. In information and communication technology, innovation have become smaller in size, more efficient and often more affordable. In transport technology, vehicle have tended to become larger and faster, as well as becoming more environmental friendly and cheaper to run. Whether for personal use or for business, technology has made the world seem a smaller place and assisted in rise of globalization.

How does Globalization benefit the society?

Globalization affects culture because when people of different cultures and from different places come together and share what they have, they get to know each other, they bring back what they have learnt and it enters in society and culture.