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Thread: Definition of Globalization

  1. #1 Definition of Globalization 
    Forum Junior newnothing's Avatar
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    How do you define Globalization? or what do you understand by the world Globalization?

    I understand it as the world getting smaller where constraints of space and time is reduced to a minimum. Which means I am able to communicate with someone in Asia as if he/she is living next door to me. Thus globalization is helped mostly by advancement of technology. That is what Globalization is in my opinion.

    What do you think?


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  3. #2  
    Forum Masters Degree samcdkey's Avatar
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    Globalisation means you can go anywhere in the world and eat the same food, watch the same movies and wear the same clothes as you were back home.


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  4. #3  
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    Globalization is eating a Big Mac in Europe.
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  5. #4  
    Forum Junior newnothing's Avatar
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    I would like to add to my post that globalization can also mean that the world is a global village, that we're connected by means of goods and services to everyone around the globe. For example the shirt that you're wearing may have its cotton originating from US or India, processed in Indonesia, sewn in Vietnam or China, then sold around the world. We count on everybody for our daily needs.
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  6. #5  
    Forum Isotope Bunbury's Avatar
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    As I understand it, globalization basically means free trade and the free flow of capital among nations. The worldwide availabilty of American junk food and Chinese shoes are results, or symptoms of globalization.

    The benefits are lower costs to consumers and increased standard of living in developing countries. The risks include wage exploitation in those developing countries, turning a blind eye to human rights violations as long as we can get cheap shoes, and the demise of manufacturing industries in developed countries. We could consider the current disasters at Chrysler and GM as at least partly the results of globalization.

    The World Bank, under neoconservative leadership has made loans to developing countries conditional on opening up their markets, which has not always been in those countries' best interests. Some countries in fact have rejected help from the World Bank because the conditions attached were unacceptable. This is from memory and no, I don't recall the particular countries in question. I'm sure Google knows.
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  7. #6  
    Forum Junior newnothing's Avatar
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    Quote Originally Posted by Bunbury
    The World Bank, under neoconservative leadership has made loans to developing countries conditional on opening up their markets, which has not always been in those countries' best interests. Some countries in fact have rejected help from the World Bank because the conditions attached were unacceptable. This is from memory and no, I don't recall the particular countries in question. I'm sure Google knows.
    The World Bank if it operates not with the intention to help developing countries will not be well received. Those countries that reject funds from the World Bank realizes that and made sound choice not to give in to the World Bank's demands even if they are desperate for help. Countries that borrowed from the World Bank are not better off now than they're before. Look at Indonesia for example. It is now in more debt than before the Asian Financial crisis of 1997.

    Since the world is already a globalized one, The World Bank has to review its purpose in this time of globalization and instead should help countries to benefit them. If they don't serve the world, might as well change the name to Greedy Bank.
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  8. #7  
    Forum Isotope Bunbury's Avatar
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    I would only disagree with you about intention. The WB leadership is ideologically driven, rather than pragmatic and this has led to problems such as the one you mention with Indonesia. It is said the road to hell is paved with good intentions.
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  9. #8  
    Forum Junior newnothing's Avatar
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    Quote Originally Posted by Bunbury
    It is said the road to hell is paved with good intentions.
    Maybe the 'good intentions' isn't 'good' enough.
    ~ One’s ultimate perfection depends on the development of all the members of society ~ Kabbalah
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