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The Important Role Of Globalization In The 21st Century

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If 20th century globalization worked to form channels from west to east, 21st century globalization has opened up the world in all directions. Today’s globalization values intangible goods, open-network sharing and rapidity; it is far more complex and interconnected now than in the 20th century and therefore more fragile and tenuously balanced. If globalization is to continue expanding at its current velocity we need systems to maintain its social, political and economic structure, but first we must understand exactly what globalization is.
The term globalization was coined in the 20th century to reflect people’s experiences of the accelerating integration between nation-states (Poppi, 2002). Globalization is a syndrome of processes, an evolution …show more content…

This can refer to governments or corporations, such as McDonald's, which set out to globalize in the 20th century then, to gain further market advantage, tailored their products at the micro level. In the 21st century nation- states are connected at both a micro and macro level: a tsunami in Haiti, a flu virus or the effects of climate change can have implications across the entire globe. It is for this reason nation-states do not effectively communicate in the wake of a crisis for fear of trade and travel restrictions (World Bank, 2014). Therefore, effective and impartial regulatory bodies need to govern the planet to ensure successful synergy in all aspects of …show more content…

The flow of data and the digitization of operations in the 21st century has contributed to an interconnected global network that influences cultures, policies and governments transnationally. As a result of 21st century globalization I have been able to exercise my rights as a global citizen, to benefit from freedom of movement, to work abroad and participate as a Caucasian female in a global society, which may not have been possible in the 20th century. As globalization is an evolutionary process, we have further potential to develop our interconnectedness and progress trans-nationally and

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