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What factors have shaped the processes of globalization - Essay Example

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Globalization refers to the democratization and integration of the economy, culture, and infrastructure through the transnational investment, the rapid proliferation of communication information technologies, impacts of the free-market on national, regional and local economies…
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What factors have shaped the processes of globalization
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Download file to see previous pages The process of globalization started as earlier as mankind began trading (Garrett 154-171). Throughout history, globalization had had a number of bursts such as the time of great explorers, colonial experience, industrial revolution and transport revolution. The world has progressively shrunk with economic time and space. Globalization can also be defined as a process which based on the international strategies and it aims at expanding the business operations worldwide. It is usually precipitated by facilitation of the global communications in technological advancements, political, environment socioeconomic developments (Guisinger 65-69). Globalization can also be defined as process of the growing interdependence between people in the world. People are linked socially and economically by investments, trade and governance. The links are spurred by the liberalization of trade, information, communication and transport technology. Normally, any global economy is considered as an unprecedented phenomenon and should not be confused with the economic internationalization. The world economy has been in existence since 16th century based on development of the international trade, migration and foreign investment. The national state acts as engine of the national state. A globalized economy has the potential of working as a unit on a planetary scale and in real time. Globalization may be as a result of growth of the multinational corporations, increased international trade, and application of computer and information technologies and the internationalization of finance (Guisinger 65-69). However, definitions for globalization vary based on approaches and sentiments by the definer. Globalization and globalism are used to express similar phenomena. Globalization is the process while globalism is the approach. The two can be differentiated with usual implication of globalization being negative and globalism being positive; globalization refers to the process through which corporations move their factories, money and products throughout the world at extremely rapid rates in quest for cheaper raw material, labour, and the government may ignore and abandon the environmental protection, labour and consumer laws. Ideologically, this is unfettered by moral and ethical considerations. On the other hand, globalism entails the belief that the world is a fragile planet form survival, and it requires careful treatment and mutual respect for all the people. Therefore, like all the values and ethical beliefs, it calls for active practice in the daily lives. The three central features undergirding globalism include communication, resource sharing and mutual aid (Guisinger 65-69). Causes of Globalization The state ventures like colonial conquest act as key drivers to the globalization process. Globalization has reflected the market forces, particularly the exploitation the exploitation by both large and small businesses leading to a lot of benefits from the trade in commodities, capital and opportunities for emerging investment and markets. The global economic integration has been perpetrated through the behest of the World War II after leaders in Britain and United States enhanced the establishment of the international monetary fund and World Bank, to promote capitalistic and liberal world to counter the effects of Marxism and Socialism. The World Bank and IMF grant loans on condition that borrowing country reduces the role of the state in economy, remove the restrictions on the foreign investment, decrease ...Download file to see next pagesRead More
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