Globalization

2. Globalization is the spread of products, technology, information, and jobs across nations. Corporations in developed nations can gain a competitive edge through globalization. Developing countries also benefit through globalization as they tend to be more cost-effective and therefore attract jobs. The benefits of globalization have been questioned as the positive effects are not necessarily distributed equally. One clear result of globalization is that an economic downturn in one country can create a domino effect through its trade partners. What is Globalization?

3. 1. Political Globalization  Political globalization refers to the diplomatic negotiations between nation-states. It includes the standardization of global rules around trade, criminality, and the rule of law. 2. Social Globalization Also known as sociological globalization, social globalization refers to the integration of our societies. 3. Economic Globalization Economic globalization refers to the ways corporations do business as multinational organizations nowadays. Types of Globalization

4. 4. Technological Globalization Technological globalization refers to the spread of technology around the world. 5. Financial Globalization Financial globalization refers to the ease at which money can be spread around the world. 6. Cultural Globalization Cultural globalization refers to the spread and mixing of cultures around the world. 7. Geographical Globalization Geographical globalization refers to the idea that the world is no longer seen as groups of distinct nations as much as it once was.

5. Improvements in transportation- larger cargo ships mean that the cost of transporting goods between countries has decreased. Economies of scale mean the cost per item can reduce when operating on a larger scale. Transport improvements also mean that goods and people can travel more quickly. Freedom of trade - organizations like the World Trade Organization (WTO) promote free trade between countries, which help to remove barriers between countries. Improvements of communications-the internet and mobile technology have allowed greater communication between people in different countries. Labour availability and skills - countries such as India have lower labour costs (about a third of that of the UK) and also high skill levels. Labour intensive industries such as clothing can take advantage of cheaper labour costs and reduced legal restrictions in LEDCs. Reasons for Globalization

6. Access to New Cultures. The Spread of Technology and Innovation. Lower Costs for Products. Higher Standards of Living Across the Globe. Access to New Markets. Access to New Talent. International Recruiting. Managing Employee Immigration. Positive impact of Globalization

7. Globalization may encourage more off shoring instead of less. Globalization benefits the wealthy more than the poor. Globalization would encourage disease transfer. Globalization could reduce social safety net programs. Globalization would create a new system of politics. s Negative impact of Globalization

8. As globalization has progressed, living conditions (particularly when measured by broader indicators of well being) have improved significantly in virtually all countries. However, the strongest gains have been made by the advanced countries and only some of the developing countries. Conclusion

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