What is the Globalisation? Well, it`s known that „ Globalisation”—( lt. Globus –sphera, fr. Global—general,gross). Globalization is the process of interaction and integration among the businesses and people of different countries, companies. Likewise, it is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. This process has effects on the environment, on culture, on political system, on economic development and prosperity, and on human physical well-being in societies around the world. Globalization is not a phenomenon. It is not just some passing trend. Today it is an overarching international ...view middle of the document...
Used carelessly, fire can destroy lives, towns and forests in an instant. As Friedman says: "Globalization” can be incredibly empowering and incredibly coercive. It can democratize opportunity and democratize panic. It makes the whales bigger and the minnows stronger. Globalization has dangers and an ugly dark side. But it can also bring tremendous opportunities and benefits. Just as capitalism requires a network of governing systems to keep it from devouring societies, globalization requires vigilance and the rule of law. Globalization refers to the expansion of our social relations and deepening. On the one hand, people's daily activities and other events that are part of the globe attached greater influence on the other hand, the local communities that would be important to have global consequences of actions. If you look at the tag on your shirt, you would see that it was made other country, than the one in which you sit right now. This shirt could have very well been made with Chinese cotton sewed by their hands. This international exchange is just one example of globalization, a process that has everything to do with geography. Globalization is an attempt to abolish barriers, especially in trade. Globalization is an elimination of barriers to trade, communication, and cultural exchange.
As regard to positive aspects of globalisation are :
1.The theory behind globalization is that worldwide openness will promote the inherent wealth of all nations. It is facilitated by improved global communications and information technology. Globalization has many effects, but with regard to finance and business, it has a major impact on economic systems, economic development, and prosperity.
2.As more money is poured in to developing countries, there is a greater chance for the people in those countries to economically succeed and increase their standard of living.
3.Global competition encourages creativity and innovation and keeps prices for commodities/services in check. Global competition keeps prices low so inflation is less likely to occur
4.An open economy can encourage innovation as people can exchange ideas freely and instantaneously