An understanding of the concept of globalisation

Globalization is deeply controversial, however. The process of globalisation is impelled by the series of cumulative and conjunctural crises in the international division of labour and the global distribution of economic and political power; in global finance, in the functioning of national states and in the decline of the Keynesian welfare state and the established social contact between labour and government.

This gives them the advantages of being able to make relatively good use of their abundant unskilled labour and being able to access world-level technology.

If modernisation theory emphasised competition among nations that would oblige, sooner or later, domestic adjustments, globalisation theory stresses the powerful effects of the flow of resources, information, and people across national boundaries.

Resistance to globalization has therefore taken shape both at a popular and at a governmental level as people and governments try to manage the flow of capital, labor, goods, and ideas that constitute the current wave of globalization.

Within the parameters of the foregoing, globalisation could be correctly defined from the institutional perspective as the spread of capitalism MacEwan, To find the right balance between benefits and costs associated with globalization, citizens of all nations need to understand how globalization works and the policy choices facing them and their societies.

Instead, many of these quotations are fraught with mixed feelings on the potential advantages and dangers of globalization.

But in this context I would surmise that other factors are also at work, such as the spread of consumer knowledge about what is available that comes from travel and from advertising, itself encouraged by the communications revolution and its children like CNN.

Amazingly for so widely used a term, there does not appear to be any precise, widely-agreed definition. Highly skilled professionals have a relatively high degree of mobility, but those without skills often face obstacles in migrating to higher-wage countries.

Understanding Globalization The "globalization debate. Even, China, by far the largest non-capitalist economy, has undergone dramatic changes in its international economic policy orientation, and, is today the recipient of almost one-half of all foreign direct investments that go into developing nations - this is a country that essentially blocked all foreign investments until the s United Nations, b.

Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people.

Above all, ideas have increasingly become the common property of the whole of humanity. If a state is not dependent on another, then there is no way for either state to be mutually affected by the other. Hence I find it betrays a sad lack of concern with the prospects of the poor to hear, as I have during this conference, garment exports being denigrated as likely in some unexplained way to bring negative impacts.

Very critical to our understanding of globalisation is the dire need to use it as a synonym for liberalisation and greater openness. Byaverage weekly earnings in the private, non-agricultural part of the U. My vision of the growth process is that it takes off when the elite in a developing country comes to understand the opportunities of applying world-class technologies within their country, and introduces institutional arrangements that permit individual pursuit of self-interest to serve, in general, the social good.

Globalisation: Understanding the Concept of Globalisation – Explained!

And a flow of capital that finances a real investment is again likely to benefit both parties, since the yield on the investment is expected to be higher than the rate of interest the borrower has to pay, while that rate of interest is also likely to be higher than the lender could expect at home since otherwise there would have been no incentive to send it abroad.

An aspect of the world which has gone through the process can be said to be globalised. Early on, the geographic position of Greece and the necessity of importing wheat forced the Greeks to engage in maritime trade.

In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in In the s, the growth of low-cost communication networks cut the cost of communicating between different countries.

Despite the difficulties, substantial proportions of the labour forces of some countries are in fact working abroad: Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.

However, there are areas where globalization is incomplete, even in the economic sphere. This included accounting, software development, and engineering design. Globalization is not new, though.


In the years since the Second World War, and especially during the past two decades, many governments have adopted free-market economic systems, vastly increasing their own productive potential and creating myriad new opportunities for international trade and investment.

The World Bankviewed as one of the major players in globalization, comments: Likewise, state authority becomes subject to checks and balances, limited in creating monopolies and denying access to the outside world.

The technology that is used to produce these goods is increasingly standardized and invariant to the location of production.The Globalisation of Crime Understanding Transitional Relationships in Context On a contracting world stage, crime is a major player in globalisation Globalisation is a reXexive concept.

It means modernisation and the marketing of predominant consumerist values. In this respect the inXu. CONCEPT OF LIBERALIZATION, PRIVATIZATION AND GLOBALIZATION Unit structure Objectives To understand the concepts of liberalization, privatization and globalization Understanding) restricting interference of the government officials and.

This paper begins with the examination of the concept of globalization and modernization before exploring the concept of Ummah and globalization's impact on Muslim understanding of Ummah.


The Concept of Globalisation Globalisation refers to the process of the intensification of economic, political, social and cultural relations across international boundaries. It is principally aimed at the transcendental homogenization of political and socio-economic theory across the globe. The Concept It is the world economy which we think of as being globalized.

We mean that the whole of the world is increasingly behaving as though it were a part of a single market, with interdependent production, consuming similar.

6 2 Towards an understanding of the concept of globalisation the contemporary discussions about it. In this chapter, globalisation is described and measured by identifying key economic, political, technological, socio-cultural and environmental landmarks that have accelerated the process of globalisation.

Globalization: The Concept, Causes, and Consequences Download
An understanding of the concept of globalisation
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