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Globalization - Essay Example

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The researcher develops the following research questions that need to be answered to affirm the findings: How globalization is transforming contemporary societies? What the role of globalization in facilitating economic development, culture diversity among others?…
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Download file to see previous pages This research will begin with the definition of globalization. Globalization also referred to as globalisation, refers to the elimination of barriers to trade, communication and cultural exchange. The conjecture behind globalization is that universal openness will encourage the intrinsic wealth of all countries. Globalization has increased considerably in the last two decades as technological developments make it easier for individuals to travel, communicate, and transact business globally. Improvements in telecommunications infrastructure and the rise of the internet are the two main recent driving forces. Generally, economies have increased chances but also increased competition as they become more connected to other economies. Hence, powerful pro-globalization and anti-globalization lobbies have emerged as globalization becomes a more and more feature of world economics. It is argued by the pro-globalization lobby that globalization brings about much increased chances nearly everybody, and high competition is of great significance because it makes agents of production more efficient. The World Trade Organization and the World Economic Forum are the most popular pro-globalization. The World Trade Organization is a pan-governmental body that was formed to prepare a set of rules to govern international trade and capital flow via the member consensus procedure, and to oversee their member countries so as to make sure that all rules are being observed and followed. On the other hand, the World Economic Forum, a nongovernmental foundation, does not have decision making authority though it enjoys a great deal of importance due to the fact that it has effective as a strong networking forum for quite a number of world’s business, government and non-profit leaders. According to Cohen & Kennedy (2007, p.143) It is argued on the other hand by anti-globalization group that groups of individuals who are disadvantaged in terms of resources are currently incapable of working within the increased competitive pressure that will result from permitting their economies to be highly linked to the rest of the world. Environmental groups such as Friends of the Earth and Greenpeace; international aid organizations such as Oxfam; developing countries government organizations like the G-77; trade union and business organizations whose competitiveness is endangered by globalization like U.S. textile and European farm lobby, in addition to the Australian and U.S. trade union movements Aare some examples of important anti-globalization organizations. How globalization is transforming contemporary societies Since its beginning, globalization has been of great significance to all people and countries across the world. It has played a remarkably significance role in facilitating economic development, culture diversity among others (Cohen & Kennedy, 2007, 189). Just like ancient times, globalization is transforming contemporary societies significantly in that the farthest reaches of world are becoming accessible, in manners that nearly all of us were not able to imagine even 20 years ago. Accelerating improvements in information and communication technologies are changing the means through which connect, interact with each other, and access information. New venues and opportunities have been opened for some up people by these increasingly accessible, new relationship can be counterfeited, and work and learning can take place from any place that has an internet connection. These same changes have been associated with loss for others; the loss of traditions, or works, or important relationships (Bilton et al., 2002, p.258). However, few realize the degree, intensity, and long-term implications of these changes regardless of the form taken by these changes. Essential widespread beliefs and naturalized relationships are being questioned, negotiated, and dissolved at times. These transformations are not only restricted to West or developed countries. ...Download file to see next pagesRead More
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