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Globalization

Globalization. Globalization. Definition: An economic phenomenon A social phenomenon A cultural phenomenon Biological phenomenon Political phenomenon

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Globalization

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  1. Globalization

  2. Globalization • Definition: • An economic phenomenon • A social phenomenon • A cultural phenomenon • Biological phenomenon • Political phenomenon • The movement towards the expansion of economic and social ties between countries through the spread of corporate institutions and the capitalist philosophy that leads to the shrinking of the world in economic terms.

  3. A globalized world • Greater freedom of movement of goods, services, capital, people • Global citizens • The Information Age – has only just begun

  4. Globalization and its challenges • Globalization – the removal of barriers to free trade and the closer integration of national economies – can be a force for good that has the potential to enrich everyone in the world, particularly the poor, but the way it has been managed (especially the international trade agreements) needs to be rethought. Joseph Stiglitz • Globalization has been “misgoverned”. John K. Galbraith

  5. Economic Globalization • Increasing economic interconnectivity • International division of labor • Rapidly expanding volume of capital flows • Capital remains concentrated among the wealthiest nations • Mixed evidence as to the effect of • economic globalization • Unsure whether it exacerbates or reduces economic inequality • Economic interdependence is related to more peaceful relations, but those left behind tend to be resentful

  6. Made possible by: • Technology • Communication networks • Internet access • Growth of economic cooperation – trading blocs (EU, NAFTA, etc.) • Collapse of ‘communism’ • Movement to free trade

  7. Trade has led to massive increases in wealth for many countries

  8. How far does trade help children like these? Lack of opportunities for the poor to be able to have access to markets.

  9. No matter where you go in the world, certain businesses will always have a presence.

  10. Politics and Globalization • Nation states are less able to control • social and economic events within their • territory • Global/regional decision-making bodies • (UN, EU, etc.) are rising in importance • but… • They are not yet fully democratic/accountable • “CNN” effect pressures governments to • intervene on human rights violations

  11. Cultural Globalization • Increases exposure to foreign ideas and • practices, but… • Cultural exports are disproportionately from western countries, particularly the U.S. • In some cases, has resulted in “commoditization” of cultures. • Some ethnic and religious groups feel • culturally threatened by globalization • Has resulted in a sharp increase in reactionary “nationalist” and “fanatical” groups • Has “killed” some cultures.

  12. Corporate Domination • Key Issues: • Damage to the environment? • Exploitation of labour? • Monopoly power • Economic degradation • Non-renewable resources • Damage to cultures

  13. Shell and Nike’s activities have come under severe criticism in some quarters.

  14. Technology and Globalization • Increases access to information, but… • Access is unevenly distributed. • Has made it easier to seek out like-minded voices and avoid opposing views. • Makes surveillance and certain types of • control easier.

  15. Some other Other Issues: • Accountability of Global businesses? • Increased gap between rich and poor fuels potential terrorist reaction • Ethical responsibility of business? • Efforts to remove trade barriers

  16. There are plenty of people who believe that globalisation is a negative development, protests at the G8 summits, pollution, poverty and concern over GM crops are just some of the issues.

  17. Some conclusions • Globalization is potentially positive, but needs better management: well-designed rules • Important to position e-trade in a broader context of economic development, socio-economic culture in the country, and engineering growth • The immediate international environment also plays a role (in terms of partnerships) – consequently, look for the right partnerships from a distance too.

  18. Globalization Is Here to Stay! • Globalization does have problems and • negative effects, but it is not going to • disappear. So… • We need to learn how to reap its • benefits, and minimize its costs. To do • that, we must: • Understand its impacts • Work to remedy the problems • Work to spread the benefits as widely as possible

  19. Thank you ! BY: NIKET KAPADIA

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