Definition Of Globalization Chapter

Length: 2 pages Sources: 2 Subject: Business Type: Chapter Paper: #39952618 Related Topics: Definition, Globalization, Coca Cola, North Korea
Excerpt from Chapter :

Globalization has been described as "a multifaceted phenomenon which (sic) encompasses economic, social, political, technological and cultural dimensions" (Mir, Hassan & Qadri, 2014). Economically, socially, politically, the world has become more interconnected. Some of these processes, such as the development of the Internet, have occurred organically while others, such as free trade agreements and the rise of the supranational governmental entities, are more deliberate in nature. They all, however, contribute to the same phenomenon. Globalization is driven by phenomenon that remove barriers around the world. Air travel and other transportation innovations allow for people and goods to move more freely around the globe. Innovations in communication allow us real time communication with anybody, anywhere, at any time. As a result, information flows more freely.

Politically, the world has become more interconnected. The process of decolonialization was matched by a concurrent move to create supranational entities such as the European Union and the United Nations, NATO, and other bodies, to facilitate and govern international...

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These bodies have reduced the political barriers between nations, as has the pragmatic drive for the improvement of trade.

While transportation and communication have played a role in increased trade, other factors have as well. On the organic side, the migration of people has driven substantial trade around the world. The world's global cities as hubs, filled with people from all corners, engaged in the conduct of business. In many such cities, people immigrate, but bring with them the political and economic connections from home that spur the globalization of trade even further. On the deliberate side, nations have sought to reduce trade barriers, and engage in trade missions with one another, in an effort to grow their economies by tapping into the benefits that trade offers. Where twenty years ago, there were only a handful of free trade agreements, today there are dozens, most nations are in the World Trade Organization, expressing commitment to further reduction in trade barriers. And where there is opportunity, there is going to be action.

These forces that reduce the barriers to the movement of goods, capital and even people have enabled globalization to take hold in a way that could scarcely be imagined a hundred years ago. While for most of human history, major trading cities were multicultural hubs, but the pace of these movements was still fairly slow. It is the rapid…

Sources Used in Documents:

References

Hymson, L. (2011). The company that taught the world to sing: Coca Cola, globalization, and the cultural politics of branding in the twentieth century. University of Michigan. Retrieved April 29, 2015 from http://deepblue.lib.umich.edu/bitstream/handle/2027.42/86471/lhymson_1.pdf

Mir, U., Hassan, S. & Qadri, M. (2014). Understanding globalization and its future: An analysis. Pakistan Journal of Social Sciences. Vol. 34 (2) 607-624.


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