It will be subsequently related to the Bi polar world and the conflicts in which USA was directly involved. Globalization has its roots into the World War II on the basis of the technological developments…
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Bi polar world is another concept which appeared in the same era. During the time of Second World War there were two superpowers including Soviet Union and United States of America. Both of them were having cold war i.e. they was evaluating each others’ nuclear powers and the destructive capacities (The Bipolar World). Specifically the world was divided into two segments each dominated by one superpower and all the third world countries were actually forced to join either of them. Hence various conflicts began and USA was involved in most of them, for instance, Korean War, Vietnam War, Bay of Pigs Invasion, Grenada, Persian Gulf War etc. (American History Timeline)
In the article ‘Restarting Globalization after World War II’ Horowitz critically analyzes the circumstances in which Second World War was initiated. He argues that after two World Wars, great depression and cold war the international trade and finance was significantly impacted (Horowitz). Hence it was expected that the world was about to enter globalization in order to cover up all the lost resources, land and human capital. Five major countries which were involved in the development of trading economics were United States of America, Britain, Japan, France and the Federal Republic of Germany (Horowitz). Horowitz also states that the military and structural changes taking place all over the world affected the initial conditions of the post World War II environment. Consequently broader public opinions were developed and people became more and more interested in political processes and trade policies. Alteration in the coalition patterns during the wars, absorption of legislative powers, international economic institutions and the economic ideologies actually formed the later concepts of globalization (Horowitz). Here, it is important to understand that how wars can influence trade. Firstly, it is impacted by
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According to the research findings globalization is of great significance in contemporary societies. When looking at its impacts, it is apparent that globalization is transforming contemporary societies. This is because globalization has had positive impact in nearly everything ranging from, economies, cultures, information flow, governance, criminal investigation, among others.
Such fragmentation in the origins and belonging of the ethics and moral values therefore offer a rare glimpse into a world which is shrinking. Globalization, as a phenomenon, is overcoming the local cultures, values as well as the indigenous political will of the individual.
It covers the major processes of the world socio-economic development and accelerates economic growth and modernization. At the same time, globalization gives rise to new contradictions and problems in the global economy. The process of globalization today overcame all the countries in the world in a different degree.
Globalization impacts on societies in the cultural, political and environmental systems (Held et al. 2005). It also affects economic growth and development of nations worldwide. The concept is not new since over the years, people and companies have been trading for long distances.
Globalization, Its Significance to Challenges of Development and Key Debates. Globalization and related development were considered as the wave of the future when they first appeared to unite countries into one global economy for the mutual benefits, which presumed global integration and interdependence in the technological, economic, social, cultural, ecological and political spheres.
Globalization has introduced new ideologies that have replaced the traditional thinking perspectives. The reception of globalization in each specific culture varies, but a close analysis reveals the aspects of life that change. This brings in the aspect of globalization, used to denote the various ways in which each distinct culture localizes globalization.
The layman's perception is predominantly confined to economic aspects of globalization, which is a very narrow perspective and is mostly confined to a mere expansion of trade and investments. However, the process of globalization has much wider implications that go beyond the mere internationalization of markets.
Episodes Three which is entitled New Rules of the Game discussed globalization and its impact in the world economy.Globalization doesn’t just involve the goods and services.Market integration also means the assimilation of countries’ financial markets.Countries like Thailand were greatly helped by the inflow of foreign direct investments.