Overview Of Globalization Essay

1264 words - 5 pages

Globalization is the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets.(“Globalization,”) It also has had the effect of not only increasing the international trade but the cultural exchange.
However, when it comes to globalization both its advantages and disadvantages have been greatly scrutinized and heavily debated in the past few years. People who believe in globalization say that it helps the developing nations “catch up” to the much faster industrialized nations. This happens through increased employment and a great amount of technical advances. Though, critics of globalization say that it weakens national sovereignty and allows rich nations to ship domestic jobs overseas where labor is much cheaper.(“Globalization,”)
Global changes have fundamentally altered the national interest of the United States.(Callahan, 2004) When you looks back to the past two centuries, the international interdependencies have increased. All in number number and kind and grown in an increased amount within the impact. First, when it comes down to it, the United States has started a new agenda of world politics with the emphasis of global issues with shared problems. With the issues being of global decent, every solution requires across-the-board international collaboration. This is because no nation on its own can solve these problems effectively. Also international institutions have become increasingly competent and important when it comes to solving problems effectively. The new agenda has greatly gained importance leaving the traditional agenda about military power and security with dwindling importance.
Interdependence comes in when talking about globalization and the U.S. National Interests. The basic definition os interdependence is the dependence between two or more people, groups, or things.(“Interdependence,”) This past century has been greatly revolutionary in the ways of interdependence and the nation. Innovation and widespread diffusion of communication, computation, and transportation technologies dramatically reduced the costs of moving words, images, data, goods, money, and people across the globe.(Callahan, 2004) Therefore fueling and greatly increasing within international interdependence. See, international trade has grown in a fast pace in other sectors of nations economies. So, by 1999 exports and imports of goods depicted one-quarter of domestic production value of the worlds nations. They years between 1989 and 1998 many interdependent international flows happened. These include but are not limited to:
1975 – 1997: In 1975 the value of the foreign direct investment increased from $23 billion dollars to $644 billion dollars in 1997.
1989: The doubling of international flows of investment capital doubled more than before by this year.
1992 – 1998: Between these two years the foreign exchange...

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