What is Globalization?

Essay by Wardie January 2006

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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 globalisation

Globalisation 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 Globalisation

Global 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...