Features and Consequences of Globalization Essay

Features and Consequences of globalisation - Essay ExampleGlobalization has rapidly changed the lifestyles of many people without their even being unaw atomic number 18. To take an example, closely people had not even heard of the Internet in 1990. Also, few people had an e-mail address then. But today the Internet, cell phones and e-mail constitute become essential tools that many people just cannot live without, in both developed and developing countries. But globalization does have its opponents. This essay examines the primeval aspects of globalization such as meaning and definition, features, aims and organized and un-organized globalization.Globalization is commonly understood as the process by which physical, political, economic, cultural barriers separating different regions of the human race are reduced or removed, thereby paving the way for exchanges of goods and knowledge. Globalization facilitates freedom of movement without political and geographical hazards and thi s seems to be the attraction of globalization to roughly people. Globalization also promotes mutual reliance. As the number of exchanges of goods and of information increase, the result is a growing interdependence between countries as they come to rely on motley imported products, services, and cultural input. Thus, from economic point of view globalization is the integration of world economies into a single economy. DefinitionsGlobalization means and includes change magnitude closeness among countries most(prenominal) notably in the areas of economics, politics, and culture. The term globalization has been outlined by various authors in different ways. In fact, it has as many definitions as there are authors. The most commonly used definitions include the following1. Globalization is a complex set of distinct but related processes-economic, complaisant and also political and military-through which social relations have developed towards a global scale and with global reach, o ver a long historic period (Rajaee Farhang, 2000, p.44)2. The prominent Islamic scholar, Muhmoud Ayoub, defined globalization in the following way It is said that we now live in global village. To extent that it is true, it is a negative process. Globalization is a current manifestation of Western Imperialism (Rajaee Farhang, 2000, p.30)3. In its most concise definition, globalization simply refers to the complex of forces that trend toward a single world society. Among these forces are mass communications, commerce, increased ease of travel, the internet, popular culture, and increasingly widespread use of English as an international language. (Lautier Frannie, 2006, p.34)Features of GlobalizationGlobalization means the integration of an economy with the rest of the world so as to ensure free flow of goods and services without any legal political and geographical boundaries. Globalization is different to different countries. The way in which one country approaches globalization ph enomenon is different from that of another country. It depends upon the nature of economy, the political scenario and many other similar factors. However, the common features of globalization remain the same to any countries. They include (OECD Handbook. 2005. p. 18)1. Reduction of barriers to trade2. The high interaction of financial markets is increasingly impacting on the conduct and performance of