For decades we have been witnessing a strange flow around the world. The tide is moving at an irreversible pace, devouring countries, regions, nations, and states like the great flood. That effect of globalization influences the world of our ideals, self-realization, culture, religion, and agriculture – many other aspects of life corps. There are most benefits of Globalization so, all everything’s I discus in this post.
As a result, the day for ignoring globalization is over. Because of globalization world became much more open. Opportunities for free trade and exchange of goods have been created. The tremendous change happened in the communication system. As a result, the form of the world is much more open today than ever before.
What is globalization?
Understanding globalization is not as easy as it seems. One problem is that we are people from different professions. We looked at globalization in many ways. But it can be started with a simple definition. Globalization can mean the contraction of space and time. Globalization is a process that integrates goods, services, and capital markets internationally. International markets have had unprecedented success in the movement of commodities and currencies.
Every region of the earth — whether remote or central — has been involved in this integration process. Renowned US political scientist David Held defined globalization from a political point of view. He says globalization is how peoples from a distance are connected, how different institutions are making those connections successful, some change that is being noticed in those organizations, and how particular forms of power are spreading all over the world is just an image. Held naturally emphasizes political and economic organizations, power structures.
Importance of Globalization
The reason behind globalization
Not only a single reason for globalization is responsible, but also or more than one goal is responsible for this. They are –
- Technology development: The main reason for the globalization process is the development of information and technology. And the continuation of this development was first set up in the first telegraph line of the colonial period. Then a bridge of worldwide communication through radio-television, computer, and the internet, etc.
- The fall of socialism: When the fall of socialism in the nineties decided, it replaced by capital imperialism and occupied imperialist power. And through this power, the path of globalization becomes wide.
- Expansion of democracy: in the 21st century, capitalism increased somewhere. It increased globalization.
- Continuously changing social system: There is nothing permanent on earth. The world’s social, political, and economic conditions are changing day by day. The development of globalization is also increased.
- Multinational Agency: Some multinational organizations have been born after the 2nd world war. Which has been able to establish a link in economic fields in different countries? And throughout these multinational organizations, globalization has been easy.
So, developing countries must be welcome globalization to continue their continuous development.
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Benefits Of Globalization
With the rapid development of the sciences and the rapid spread of information technology, the world does not have to go too far to get proof that the world is getting smaller. In a house, which has a computer and Internet connection, the news of the whole world is available. All of this is an indicator of globalization. Globalization is hard to ignore. The importance of globalization are as follows:
- International relations development: The impact of globalization is strengthening the relations between countries of the world. States are dependent on each other in economic, political, and social fields. Integrating with various international economic cooperative alliances and systems. This is how international relations are under the influence of globalization.
- Benefits of large scale operations: Globalization has facilitated massive production and marketing in the broader market system. On the one hand, the cost of production is decreasing; and also, the amount of profit is increasing.
- The geographical division of labor and specialization: Due to globalization, the area of geographical division and specialization is expanding. As a result, each country can engage in productive work according to its relative advantage.
- Global image development: The production and marketing of universal products create the same image form of product everywhere. This increases product acceptance. For example, it could be said that Coca-Cola or Pepsi created such a global image. As a result, they have worldwide recognition.
- Transfer of knowledge, skills, and experience: Developing countries can easily enrich themselves by learning knowledge, skills, and experience being developed from developed countries of the world.
- Creating Free Trade Opportunities: Globalization has facilitated free trade between different countries. In the context of e-commerce, different levels and speeds have been transmitted to this free trade.
- Reducing international conflict: because of globalization, countries of the world have become more dependent on each other. At present, no country can think of itself differently. The globalization in which it is formed plays a vital role in reducing international conflict.
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Advantages of Globalization
Globalization is a modern world governance system, collective of various communication and interconnection issues, which extends beyond the boundaries of different states (and societies). By definition, it is a process whereby events, decisions, and actions in one part of the world can depend on the critical consequences of individuals and communities located in other parts of the globe. Some advantages or positive aspects of globalization are below:
- Foreign investment increased in the poorer countries, which increased production power in developing countries.
- To protect consumer interest by maintaining full competitiveness in the free market economy.
- The opportunity to enter any product in the world market without any berries.
- Education, literature, culture, arts exchange freely throughout the world.
- Now the exchange of science and technology is more available and accessible.
- Man’s talent and efficiency are access to the world market.
- We can easily contact with others all over the world via Imo, Facebook, Skype etc.
- The idea of one world, one nation, increasing the feeling of brotherhood and humanity.
- As well as support for foreign direct investment in third world countries which increased the benefits of GSP.
Disadvantages of Globalization
In addition to the benefits of globalization, some of its illusions can be noticed. They are:
- Increasing economic inequality: The economic disparities created by one country with another is considered as the result of globalization.
- Creation of unequal competition: Due to globalization, countries that are poor shutting down their industry because they are unable to survive in globalization. As a result, the unemployment rate is increasing day by day in developing countries.
- Disadvantages of the education system: The developed world spends an on for education, the underdeveloped countries are being forced to spend a lot of money. But most of the time, underdeveloped countries are not effort much money on school.
- Confidentiality is difficult to protect: Foreign counterparts take over underdeveloped countries as soon as possible by using the Internet, e-mail, fax, confidential documents, news, and information.
- Cultural Crisis: Culture is agitated today by globalization. The impoverishment of the rich countries’ culture of the poor or underdeveloped countries is on the verge of destruction.
Opportunities of globalization
There is a competition in globalization, but that competition is positive. What we can call healthy competition. Because today it is impossible to capture the world market by producing low-quality products. Globalization contributes a lot to establish a country’s global image.
When a product occupies a market overseas, the country’s image shines, and in light of it, there are ten more products that will able to go into the global market. Not all countries of the world have equal labor costs.
Many prosperous nations of the world have been using the underdeveloped countries to import labor. Due to expensive labor and raw materials in the developed world, multinational companies are taking advantage of globalization by reducing production costs by setting up industries in underdeveloped countries.
Globalization is a modern world governance system and collective of various communication and interconnection issues, which extends beyond the boundaries of different states (and societies). I think all everything is already written about benefits of Globalization and it’s importance details. Comments bellow if you have any query.