Globalization Essay

1322 words - 5 pages - tongdreamer ✓ Expert Reviewed

Globalization is necessary in the world. Different theories on the concept of globalization provide distinct reasons on the need for globalization. The world’s advancements and technology help drive the need for globalization. Communities and organizations alike are affected by globalization, and smaller countries benefit from the generosity of larger participants in the world’s market.

Globalization, in the business sense, is to make a product or service available in the global market. Any investment that is across national borders is also part of globalization. Many companies in the United States (US) have taken their product, service, or investment opportunities to other countries. This affects the global economy. Just as the economy of the US affects many Americans, the global economy affects the citizens of the world. As any company that does affects the global economy, positive or negative affects may be realized.

Many different theories support the concept of globalization. Tariffs are levied on a country-to-country basis. Tariffs are duties, also known as taxes, which each country puts on the imports and exports of that country. The government of the country in question wages a tariff. The World Trade Organization (WTO) oversees all countries. Absolute advantage supports the concept of globalization, because this concept ensures that one country can produce a product better and more efficient than another country. By importing or exporting this product or good, the countries that use this product can easily trade other products or goods. This helps countries produce the things to make them more efficient. Comparative advantage happens when the opportunity cost of producing goods differs from country to country, all sides will benefit from trade. This develops more opportunities for smaller countries to be able to complete on the same stage as larger countries. This allows an increase in production, which helps with the smaller countries economies. More jobs, a higher Gross Domestic Product (GDP), more money to pump into the countries economy and better investments arise for the country. A few others such as free trade, which means that the countries do not levy tariffs or quotas on any goods coming in or out of the country. Balance of trade is another key theory for globalization. The values of imports are weighed against the values of exports. With out these theories and practices, there would be no globalization.

The major drivers of globalization have changed over the passed decade. Right now, the biggest driver is technological innovation (Blundel & Thatcher, 2014). The way the internet and the World Wide Web has come into homes and business, makes this the top driver. This has made consumption of products from all parts of the world become available to even the most rural parts of the country. Technology has also played a large role on navigation or global positioning systems (GPS). GPS has not only made ships cross the...

Find Another Essay On Globalization

Globalization Essay

792 words - 3 pages

Globalization in the world poses an ongoing war which has led to many debates across the world. The spread of western culture to the rest of the world has undeniably become clear today. However this spread of western culture and politics poses a question in the concept of globalization. Though globalization is an indisputable fact of life, and it is stretching over the world rapidly, the debate whether the concept is good or bad has...

Globalization Essay

752 words - 3 pages

Economic Globalization focuses on worldwide activity. It operates the open markets; competition and the free flow of goods, plus services, the capital and knowledge. Globalization helps us benefit by allowing us to a faster growth process, we also receive new technology quicker, we are able to pay less on imports and increases better competition...


714 words - 3 pages

Global Questionnaire � PAGE \* MERGEFORMAT �1�

Globalization Questionnaire

What is globalization, and what are some of the traditional international trade theories that support the concept of globalization?

In the past, it can be argued that a countries economy was self contained and a majority of goods were developed and produced within one's own country due to border...


818 words - 3 pages

How globalization is creating a better world to live in.

We are living globalization every day. It is now a part of our lives. A person might wake up to a cup of Nescafe, put on Nike shoes, wear Levis, drive a Mercedes, work at Coca-Cola, eat at Macdonald, and watch Star Wars on Sony. Globalization is now in every aspect of our lives. Whether we know it or not, accept it or not, it is. Moreover, globalization is effectively creating a...

Globalization - 642 words

642 words - 3 pages

A. What is globalization?Globalization can be defined as a shift toward a more integrated and interdependent world economy through the ability to produce any good or service anywhere in the world using capital, technology and components from anywhere and to sell the output anywhere and place the profits anywhere.

Globalization has several different facets including the globalization of markets and the globalization of production. The...


993 words - 4 pages

Globalization is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. Depending on one's viewpoint, globalization can have several meanings.

For example, in India, nearly 38% of the population, or 380 million people, are poor. Even after more than fifty years of independence, more poor people live in India than in any other country....

Globalization - 1471 words

1471 words - 6 pages


Globalization is the term used to describe the condition that prevails when communication, people, goods, services, and capital move more freely across borders. Often globalization is the result of technological improvement that facilitates communication and transport and economic liberalization that gives people the freedom to make use of them. It is the most important international phenomenon of the early 21st century,...


1654 words - 7 pages


Globalization has been developing exceedingly rapidly in the whole world recent years. With the trend of globalization, it brings both great opportunities and challenges. Globalization has a big influence on the economy, but also on culture. According to Grant Kleeman (2008, p. 310), it is difficult to give a definition of cultural globalization because it is consisted of several related notions. Kleeman (2008, p. 310) also...

Globalization - 1052 words

1052 words - 4 pages

Globalization Everyday you hear it on the news, you read it in the papers, you overhear people talking about it...and in every single instance the world globalization seems to have a different meaning. So, what is globalization?, there were a lot of debate about this issue. At a top political and economic level, globalization is the process of denationalization of market, political and legal systems. The consequences of this political and...

Globalization - 1035 words

1035 words - 4 pages


'Globalization' has become an increasingly influential example in the human science since the beginning of the 1990s. In fact it has in a very important sense been the successor to the debates on modernity and post modernity in the understanding of sociocultural change and as the central thematic for social theory. The concept of Globalization represents an important shift in transmuting this temporality into a...

Globalization - 1376 words

1376 words - 6 pages

The 1990s were the decade of globalization, not simply in academic settings but also in public policy worldwide. Earlier the idea of globalization was promoted in the global marketing and strategic planning of transnational corporations, led by Coca-Cola, Ford and McDonald's. Relying on standardized production methods, long recognized as the rationalization of the world, they customized a core, globally recognizable product for national...

Similar Essays

Globalization Essay - 2005 words

2005 words - 8 pages

Globalization, democracy and social justice

The article "Globalization, Democracy and Social Justice" was published in Dr.Ghazala Irfan's edition "Ethics, Values Society: Social Transformation" in Oxford University Press, Karachi (2006)....

Globalization Essay - 2294 words

2294 words - 9 pages


Globalization is a powerful and growing phenomenon, that no one can deny. It has a lot of meanings depending on which aspect you look at to define it. According to Dr. Huntington a professor of International Politics at Harvard and Chairman of Harvard's Institute for Strategic Planning, globalization is "the creation, storage and use of knowledge becomes the basic economic activity generating huge change" (qtd. in "The Man...

Globalization Essay - 1116 words

1116 words - 4 pages

Globalization is an extremely controversial issue. It has been the center of much debate and has raised many questions. Some have viewed it as beneficial, while others argue that it produces adverse results and consequences. However, it is necessary to determine or rather define globalization and all which is involved.

Globalization is defined as the integration, interaction and interdependence of people and organizations all around the...

Globalization Essay - 4816 words

4816 words - 19 pages

DefinitionGlobalize :to extend to other or all parts of the globe; make worldwide: efforts to globalize the industry.

Before we begin what globalization is , it is obvious that the definition of globalization is to extend all the possible opportunities , scopes and application to the world at large. It is a good idea in the present trend of a borderless world and which is accessible at a click of the computer.

Well, is...