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Globalization

Politik - Internationale Politik - Thema: Globalisierung, pol. Ökonomie


Autor

Jane Vetter
15 Texte

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By Jane Vetter
Class:
Global Issues of Contemporary Politics
Term:
Fall 2006
Due Date:
Sep 29, 2006
Jane Vetter ­ Essay I
2
According to the online dictionary Merriam-Webster Online, globalization is "the
development of an increasingly integrated global economy marked especially by free trade, free
flow of capital, and the tapping of cheaper foreign labor markets." Globalization, however,
reaches beyond the economic scope since it "is a term that encompasses all cross-border
interactions, whether economic, political, or cultural." (Marber 56). Within a globalized world,
everything is related and connected, constantly changing and transforming not only the economy
but also politics, culture, consumption, and telecommunications. The following paper aims at
showing how the world is becoming globalized, what advantages and disadvantages appear
throughout this process, and why globalization is an overall good thing for the world and its
citizens.
As already mentioned, globalization affects several levels of interaction. With regard to
the economy, free trade and less trade barriers enabled the forces of globalization to grow
stronger and faster than ever before in human history. Within the last twenty years, the Soviet
Union and China have integrated economically with the West while Latin America and Asia have
worked toward stable and liberal systems in order to be part of "meaningful socioeconomic
progress and [...] Western standards of living." (Marber 56). By using the motors of
globalization, communication and transportation, more and more countries are able to move
capital and knowledge quickly around the globe. Companies rise up to transnational corporations
with offices worldwide, thousands of employees, and billions of profit. International finance
takes place in today's stock market capitals New York City, London, Frankfurt, and Tokyo,
moving currencies from one economic sector to the next. In the past, people exchanged
possessions such as animals or valuable goods in person; nowadays, everybody can go online,
order what he desires and pay with credit cards. Trade has become easy, fast and open to the
majority of participants. Besides, economies concentrate on producing products which have a
Jane Vetter ­ Essay I
3
comparative advantage over the same goods produced by others, thus working more efficient and
at low cost. Products which do not have a comparative advantage are purchased from other
economies. Companies spend foreign direct investments (FDI) in order to bring capital to other
parts of the world, creating a cycle of money transfers which pushes economies further towards
economic growth and reduced poverty (IMF 1). Mass production technologies, aggregate
material infrastructure and productive capabilities are "at the root of our modern prosperity."
(Marber 56-57) Travel times of people and products minimize when using cars, trucks, ships,
trains and airplanes.
Another important influence of globalization can be seen in politics. In order to fully
participate in free trade, economies require stable institutions, human rights, laws to protect
personal freedom and property, as well as effective governments and basic principles regarding
education. Democracies tend to fulfill those needs the best since they are outward-oriented,
liberal and hardly disturb the `invisible hand' of the free market. This is proven when looking at
countries in Latin America and Africa during the 1970s and 1980s: due to authoritarian and
inward-oriented policies, "economies stagnated or declined, poverty increased and high inflation
became the norm." (IMF 1)
Last but not least, globalization also affects our view of geography, culture, consumption
and telecommunications. By discovering new parts of the world, colonizing and integrating them
into the world community, the first step towards globalization was taken. The International Date
Line, world time zones and the Gregorian calendar further moved people towards united
standards which are required for global trade (Australian Apec Centre 2). Telecommunications
have become easier and faster by introducing telephones, then fax machines, computers, email
and the internet. Radios and televisions spread news, music and advertisement faster than ever
before, showing people what happened in other parts of the world, broadening their horizons, and
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Beschreibung

Titel:
Globalization
Veranstaltung:
Keine
Autor:
Jane Vetter
Jahr:
2006
Seiten:
9
Archivnummer:
V116461
ISBN (eBook):
978-3-640-18632-7
DOI:
10.3239/9783640186327
Dateigröße:
76 KB
Sprache:
Englisch

Schlagworte:
Globalization

Arbeit zitieren:

Jane Vetter, 2006, Globalization, München, GRIN Verlag GmbH

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