What Is Globalization and the Effects of Globalization - Essay Example

Globalization is a controversial issue and different analysts hold mixed opinions about its effects on the world (“Globalization―Positive or”). The effects of globalization are not yet fully known given it is a relatively recent development (Bliss).Globalization comprises two fundamental elements that are interrelated; “the opening of borders to increasingly fast flows of goods, services, finance, people and ideas across international borders; and the changes in institutional and policy regimes at the international and national levels that facilitate or promote such flows” (“Globalization”).

Another word for globalization is exchange. For the most part, the recent form and development of the world can be attributed to globalization because technological advancement has happened as a result of the very exchange of resources and services among countries. While there are several features of globalization related to different aspects including economic, social, and political, yet “where it has had a most telling impact is in major and dramatic increases in global trade and exchanges in an open, integrated and borderless international environment” (Pere).

Globalization has particularly increased as a result of the advent of the Internet. The Internet has allowed people to socialize with one another, make friends, and exchange ideas and opinions without being limited by geographic boundaries. Globalization has played a very important role in the exchange of talent across the nations. These days, the Internet is used to recruit talented people from all over the world. “Globalization has changed us into a company that searches the world, not just to sell or to the source, but to find intellectual capital - the world's best talents and greatest ideas” (Welch cited in Kulkarni).

Employers use social networking sites like Facebook, Twitter, and LinkedIn to learn more about the candidates they are considering for hire.Positive effects of globalization include increased knowledge of world cultures; increased understanding of the norms and values, trends and traditions of different people; economic strengthening and development of the underdeveloped countries; and increased pace of technological development as a result of the exchange of resources among different countries.

Negative effects of globalization include the quick use of finite resources, increased emission of carbon dioxide, increased oil prices, and increased difficulty for the regulators in a country to estimate the effects of their actions on the world at large (Tverberg). Many of these negative effects of globalization can be reduced by correct policy-making and cooperation among different countries.