What Is Globalization? Essay

2925 words - 12 pages

Anthony Giddens a famous London sociologist defines globalisation as " a decoupling of space and time, emphasising that with instantaneous communications, knowledge and culture can be shared around the world simultaneously."Globalisation refers to the increasing integration of economies around the world particularly through trade and financial flows. It can also refer to the movement of people (labour) and knowledge (technology) across international borders.Globalisation is based on a free market ideology and the push towards liberalisation, the removal of barriers and the removal of currency restrictions.The emergence of political and trading blocks such as the E.U, N.A.F.T.A and international institutions for example W.T.O, I.M.F and the W.B etc.The Terrorists attacks on the United States, the spread of aids and the outbreak of S.A.R.S are all aspects of globalisation. Rapid growth and poverty reduction in China, India and other countries that were poor twenty years ago is another form of globalisation.The development of the Internet, easier communications and cheaper transport have enhanced globalisationGlobalisation describes how other people; governments, businesses and decision-makers affect countries and their citizens. This has all come about because communication is faster, transport is cheaper and the connections are more immediate and intense than ever before. The telephone which first connected towns now connects the world and optic fibre transmits data, money, email and knowledge from business to business and home to home across the world.Advantages of GlobalisationGlobal markets promote efficiency through competition and the division of labour. More opportunities are created for people and businesses to enter into larger markets worldwide by giving greater access to more capital flows, technology, cheaper imports and larger exports markets.Since the Second World War we have seen a rise of the general Agreement on tariffs and Trade and its successor the World Trade Organisation (W.T.O). This has led to an increase in world trade and an increase in the standard of living. In the last decade the proportion of the world population living in extreme poverty has fallen from 28% to 24%.Trade: Developing countries have increased their share of world trade especially the newly industrialised economies (N.I.E's) of Asia have done well. Faster communication enables companies create a viable market from tiny segments throughout the world. They can establish a presence that was too small or too far away to attack using traditional methods.Movement of People: There are fewer restrictions on workers moving from one country to another to seek better employment. Ireland has benefited greatly with this especially since the enlargement of the E.U. Most integration still occurs between developing countries.Capital Movement: There is direct foreign investment.Deregulation-removal of restrictions on cross borders financial flows (for example exchange...

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