Nowadays, most people are affected by globalization. Every single day we are using globalization in the term of connection that makes us more comfortable and closely connected. Some people might not know what globalization means. Globalization is a modern concept referring to the improvement of certain elements to make possible interconnected among countries most significantly in the areas of global economic, technology, free trade markets and multinational operation. And no matter where we are at, we were able to get the news of information quickly and widely because of the development of information technology (IT).
Globalization has develop into the new prime feature of the new millennium. No community, society or country will survive will stay isolated from the forces of globalization. Globalization is concept that the free movement of products, services and other people across the globe in integrated manner that economic process are often thought of to be the results of the gap of the world economy and therefore related increase in trade between nations. In other words, once countries that were up to now closed to trade and foreign investment open up their economies to the world which resulted in increasing connection and integration of the economies of the globe. It has been proven that countries benefit from removing their own barriers and there
Other areas of interconnectedness are too in4uenced by the economic sector. For example, the cultural sphere has often followed economic globalism (Keohane & Nye, 2000, p. 107). This is illustrated by the way the KOF Index of Globalization proxies the social degree of globalization, by factoring in the number of McDonald’s restaurants in a country (KOF Index of Globalization: Method of Calculation, 2016). The predominant role of economics is also emphasized by Manyika et al., who characterize 20th century globalization as a “tangible 4ow of physical goods between advanced economies, driven by multinational companies” (2016, p. 5). Driven by military and economic demand, the 20th century was the “century of acceleration” and transportation networks, electri)cation, computerization and miniaturization—at )rst unevenly—soon encompassed the world (Breville, Rekacewicz, Richard, Rimbert, & Vidal, 2011b).
The process stimulated a worldwide industrialization competition that drew its power from the exchange and consumption of resources, the consequences of which are reminiscent of Easter Island’s collapse. Furthermore, globalized trade provided opportunities for the plague and influenza to infect an incredible number of people. Such consequences of globalization have destabilized society and established a culture of paranoia, which technological advances have failed to overcome. So although globalization is praised for having created a closer and more interdependent global community, it is this very connection that brought about environmental and physical suffering throughout
Globalization has been around for thousands of years, people used to exchange goods and services through bartering – trading products or services of similar values. With the emergence and adoption of currency, trading and services became more efficient. Subsequently, the developments in transportation and communication revolutionized this exchange, and then came the formation of corporations buying, selling, and transporting commodities to far greater distances around the globe (Globalization101, n.d). Trading is the most visible aspects of globalization, but over the past few years, foreign investment has grown more rapidly than trading and production. International investment includes commercial loans offered by banks to foreign businesses or governments, official flows – development assistance given by developed nations to developing ones, foreign direct investment (FDI) – foreign investors take substantial shares in a foreign entity, and foreign portfolio investment (FPI) – a portfolio of investments in a smaller amount without controlling stake in a foreign entity in the form of stocks or bonds (Globalization101, n.d).
These changes in agriculture due to globalization have immensely affected the environment and the economies of countries particularly in Central and Latin America. Globalization is also the name given to the process by which companies or organizations influence or start operating on an international scale. Due to advancement of technology, and the refining of processes, it made them more efficient in virtually all areas of life as well as in communication making the exchange of information and culture easier for the world that it seemed to have become a grand exchange of ideas and information with both aspects having its benefits and drawbacks. Latin America a region consists of twenty sovereign states and several territories and dependencies which cover an area that stretches from the northern border of Mexico to the southern tip of South America and also includes the Caribbean. This region in itself is well endowed with natural resources at is most valuable to globalization.
Globalization has become one of the most effective factors in the world, and it has a great positive effect on people 's life. Globalization, as a definition, is canceling all borders between countries and turning the entire world into a small village. Some countries were affected negatively by globalization because they did not know how to handle it. However, the biggest effect was positive. It affected and reached all life sectors such as economy, finance, tourism, culture, literature, and even agriculture.
Globalization refers to the growing interdependence of countries worldwide through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows, and through the more rapid and widespread diffusion of capital (Guiness, 2011). A long controversial subject in all areas of studies, globalization is an overwhelming force that has swept the world. The strong connectivity that now characterizes ties between countries contributes to enhancing the ease of exchanging products, information, or capital. As the world seems to be shrinking with globalization, we now have a better understanding of foreign
To make an educated decision about whether or not globalization's consequences have been primarily negative for developing countries, we firstly need to define what globalization is. Globalization can be described as the interaction and integration among people, companies, and governments of different nations through trade, investment, capital flow, labour migration and technology. It encourages the flow of goods, services and labour (globalization101.org, 2016). Globalization has effects on the environment, culture, political systems, economic development and prosperity, and human physical well-being in societies around the world. James Rosenau, a foremost political scientist, defined globalization as “a label that is presently in vogue