GLOBALIZATION

Globalization

is the process where the economies

of various countries in the world
become more and more connected to
one another.
In a globalized
economy,
people from one
country can buy
goods and
services quite
easily from
other countries.

History
Globalization has been happening for
millennia. The Roman Empire, for
example, spread its economic and
governing systems through significant
portions of the ancient world for
centuries. Similarly, the trade routes of
the Silk Road carried merchants, goods
and travelers from China through
Central Asia and the Middle East to
Europe and represented another wave
of globalization.

What Impact Has

Globalization Had
on the NationState?

Technology
to become a single place wherein
each single person is aware of what
is going on around.

Economic Dimension
the end of the
Cold War
marked the
triumph of
capitalism and
free-market
economy

Politics and Culture

seen as a motivator which makes
states get engaged in a greater
density of interactions

Globalization is treated by
some as a threat
Cross-border terrorist
activities, environmental
problems such as
climate change,
pandemics such as AIDS
and scarcity of natural
resources all pose a
major threat for states
and human-beings
around the world.

Advantages of
Globalization

Increase in
Employment
Opportunities
As globalization increases, more and
more companies are setting up
businesses in other countries. People
can get better jobs without having to
move to other countries in search of
better jobs.

Education
With the increase in
globalization, it has
become easier for
people to move
across borders to
different parts of
the world to acquire
better education.
This has resulted in
an integration of
cultures.

Increase in Free Trade

increase in free trade has opened doors
for investors in developed countries to
invest their money in developing
countries. Big companies from
developed countries have the freedom
to operate in developing countries

Faster flow of
Information
Information flows from one part of
the world to the other immediately,
resulting in the world being tied
together.

Increase In Quality Of
Goods And Services
As a result of globalization, people
have access to the best quality of
goods and services throughout the
world. Companies have to strive to
provide better quality goods and
services to the consumer and the
consumer has the liberty of choosing
whichever product he thinks is best
suited for his needs

Decrease In Prices Of
Goods And Services
As the competition in the market has
increased due to rapid globalization,
producers have to price their products
competitively in order to remain in the
market. This has become a boon for
the consumer as he can get better
quality products at cheaper prices.

Reduction In Cultural
Barriers
As people move from one country to
another, barriers between various
cultures tend to decrease.

Disadvantage
s of
Globalization

Environmental
Degradation

Developed countries can take

advantage of underdeveloped
countries weak regulatory laws in
terms of environmental protection.

Unfair Working
Conditions

Many multinationals
have been accused
of social injustice by
exploiting labor in
underdeveloped
countries in order to
cut costs. Labor are
provided unhealthy
working conditions
leading to health
hazards.

Fall In Employment
Growth Rate
Though the promotion of the idea that the
advances in technology and increase in
productivity would create more jobs, such
advances have led to a decrease in the
employment growth rate in some developing
economies. This can also be attributed to the
fact that companies move their production
facilities from one place to another in search of
cheaper labor once the workers in the previous
country start demanding better wages.

Growing Disparity
Among The Rich And
The Poor

86% of the worlds resources are said to

be consumed by the richest 20% of the
world population. This means that the
poorer 80% only gets to consume 14%
of the worlds resources. This is a direct
result of globalization according to some
activists who believe that globalization
only serves the rich whereas the poor
have to face its disadvantages.

Small Scale Industries

Face Extinction

Small scale
industries which
are indigenous to
a particular place
face extinction as
they do not have
the resources or
the power that
the multinational
companies have.

Rapid Spread Of Deadly

Diseases
Deadly diseases such as AIDS or other
communicable diseases can spread at
very fast pace via travelers or due to
other means as a direct consequence
of globalization.

Types of
Globalization

Economic Globalization
Economic globalization is the
increasing economic
interdependence of national
economies across the world
through a rapid increase in crossbordermovement of goods,
services, technology, and capital.

Cultural Globalization
Cultural globalization involves
the spread of language, the arts,
food, business ideas, and
technology, and therefore its
impact is felt by almost
everybody in the world.

Political Globalization
is when governmental action
takes place on a global level,
where responsibilities, such as
the welfare of citizens and
economic growth, are acted upon
by an international political body.