Modern science and all the various process that are involved with the modernization process evolved because of the progress made by the western countries and the progress made in the field of science, medicine and the notions held in respect of human rights and liberty. There are several sections of individuals who state that dissatisfaction that people seem to have is that they are troubled with their daily life. But when analyzing we can realize that the actual dissatisfaction of individuals arises forms the modern life that they need and in comparison to that the others around the world lead. The term globalization is used to describe the various changes that have taken place in the social, economical and political scenarios that has brought about change in the current situation.
To explain, globalization is the termed used to describe the technique in which the various far away parts of the world have come into contact with the more developed parts of the world and also the obvious changes brought in it in the geographical locations. It is this change that has even made it possible for us to think of the world as a single global space that is connected by a lot of forces like the technological, economic, social and cultural forces.
It is this basic thought that is propagated by most of the bug theorists. Also Globalization has been referred to be the intensification of world wide social relations that help in linking the various far away parts of the world in such a way that the things that happen in the local market is affected by these changes. (Robertson, 8) But now globalization is most often thought of as global westernization. Several sections of individuals agree to this concept, though people with an optimistic view think of globalization as an excellent contribution made by the western world to civilization. But others think of it as western world dominance. With this view, most of the contemporary capitalist trying to get their best out of it have come up with many rules of trade and business that are not in favor of the poorer section of the society.
Customary rudiments like possession of assets and power are combined nowadays to join the various cultural industries so that they can set up a cultural dependency that is caused because of the economic dependency that is caused by the capitalist system. It cannot be really said as to if the global capitalistic market is actually beneficial or not, but the basic fact is that it is present here and is also here to stay. In today's world where globalization plays a very important role in the structural element of the capitalist market it in a way increases the innate discrimination of the current system actually of the system as discrepancy between the rich and poor grow. Although it can be rightly said that economic imperialism looms remarkably high. Even though there has been great technological progress, still there are those individuals who if not able to keep up with the technological pace shall have no option but to be hard-pressed by the margins of power. A huge increase in the disproportion in capital and possessions, in the present condition where information and knowledge are most important it is necessary that we try our best to reduce our disappointment and apprehension which forms the most important reactions of movements.
Currently the entire concept of globalization is very western in ideology. This westernizing process is still tied up to the concept of capitalism, working to try and broaden the gap that these western economies have created so easily in the terms of economy, sociology and also politically. The main concept of globalization is to try and promote the ideas of the western culture and think of it to be more superior. They seem to provide a sense of control and also a feeling that they know the entire concept. But this does not mean that the direct opposition to any of the eastern or occidental economic design. But still the entire concept is very troubling. But the current concepts and ideas are so enveloping that they seem to come across being of utmost importance to many of the developing countries. When referred to imperialism earlier it was always meant to define an economic, political and military technique to try and destabilize the actual working sovereignty of the country. But now a days the definition seems to have changed and is used to refer to cultural imperialism by way of which machines are used to rapidly expand the communication network to deluge the nations with the western ideology. (Ellwood, 14)
Considering the fact that globalization has been on since many centuries, in the past twenty years the growth has been tremendous and worth noticing as to its growth in intensity, scope and also the way it has made itself be noticeable to the public. It is during this period that it can be said that the entire process of globalization started off. So it becomes essential to actually take notice of the events that took place during this period and the various political actions and reactions. From the Second World War, there has been constant integration in the global economy because of the various events that have actually led to rapid growth of globalization and its social and political distinction. (Watson, 73) In the northern region it was the oil crisis and also the suspension of the dollar convertibility in the year 1971 that brought about the end of the 'long boom period' of the period of post 1945 Keynesian. This also led to the rise of the global markets that in turn kept the market confidence that became a key feature in the various government policies.
At the same time in the southern region, in 1982 when the Mexican government fell because of its foreign debt it started off the post war era during which the import substitution industrialization started off and this ultimately led to long period for most of the developing countries, which was in turn imposed further by the massive foreign debts and also the rise in political influence of the IMF, the World Bank and the international capital markets, with all these three policies actually affecting the development of the domestic markets and also turning towards a strategy which was more export growth oriented. The most crucial change was that of the Fall of the Berlin Wall in the year 1989, that led to the abdominal fall more frequently referred to as the 'transition economies', and it led to a rapid downfall of the Soviet Unions into a market driven economic change. Taking notice at a political level, it was because of these events that we saw two major developments, considering the crisis that ultimately led to the following up of the Third World War, with the Soviet Union left with disoriented state. There were certain distinctive changes in the concept of 'globalization' that led to this perplexity. (Waters, 38)
To mention a few, the first of it was the fact that there was a shift of power from the state and because of the constant global economic changes; it was shifted into the hands of the governments non-ability to be able to manage their economies. This led to a crisis in the entire social democracy. The next observed change was that of the rise of the New Right, in the early 1980's where the market seemed to have a distinct edge over the state and it ultimately led to the formation of a free market concept.
The book written by John Kennedy, ' twilight time' explained about the Americans fearing about the Soviet and their obvious threat to the states and also this helped to think over the prospects and the liberal democracies came up with more global market-based economic models that would suit the Anglo -Saxon capitalism. It was the elision of the 'market democracy' that was epitomized by most of the Western leaders. When considering this at an economic level, this helped to drive the rapid expansion of the trade and investments flow considering that huge portions of the regions in Latin America and Asia have led to export oriented growth strategies and the various countries in the Soviet Union were quickly absorbed into an integrated global economy. (Harris, 53)
This led to globalization becoming a combination of technological, economic, political and cultural change. The changes involved in Globalization also consisted of interlocking institutions developments like both national and international levels. Primarily the existing global structures of the global economic governance were refurbished. Then the World Bank and the IMF also changed their roles, turning quickly away from the Keynesian way of operating to neo-liberalism. A new web of two-pronged, local and worldwide trade and investments agreements trade terminated the entire creation of World Trade Organization in 1995 to bind the entire system in the same position. In the west at National level, wanting…