Problems Of Globalization

Answer 1- Globalization is the integration of the national/domestic economy with the world economy which has made the world a global village, it has led to the creation of a worldwide system, thereby enabling free movements of goods, capital and information, virtually sweeping away the politician boundaries ‘no distance is now big enough and no country or nation really foreign’.

It points to the whole effort towards making the world a global community because of the increasing integration of economies and advancements in information and communication . technology, benefits of technology advances to developing nations, making the world a smaller place. People can move from one country to another, trade restrictions are reducing, domestic markets

System would work properly only if everyone has played by economies set of rules and standards, that’s what went wrong with globalization.

History of Globalization

There is a debate on whether the origin of globalization is a situation of modern era or was a long chapter from the history.

Andre Gunder Frank, a greater promoter of globalization and an economist linked dependency theory to the globalization. He said that the increased in the trade practices between the Indus valley Civilization and the Sumer in the third millennium was the starting.

During the Hellenistic age, the commercial urban centers were concentrated around the Greek culture. The trade included places like India and Spain ( Antioch, Alexandria and Athens are top centers)

The Roman Empire, Han Dynasty and the Parthian Empire saw the trade links formed among themselves. The evolution of the silk route was because of the active commercial trade between these

over recent years. yes globalization has helped some poor nations to become emerging countries by living them win the developed nations or developed parts of the world.

Globalization has improved employment situation in developing countries, it created the concept of outsourcing. Developed countries prefer to provide work to developing countries where cost of services is cheap.

Work/task such as customer service report, software development, accounting, marketing and insurance are given to developing countries like India, therefore the country that is allotted the work enjoys by getting jobs.

It has created investment opportunities in the emerging economies by tapping the hidden potential resources, talent, the lack of capital in developing countries is there satisfied by these investment and hence increased opportunities due to global nature of business.

Advancement in technology- technology has facilitated the communication, transportation hence contract between people worldwide. this advancement increased the access of people from the emerging nations to get in touch and experience new things developed worldwide and to use them at facilitates the work and knowledge transfer also take place through technological