Definition of globalization

“The true success of globalization will be determined to the extent that it allows each person to enjoy the basic goods of food and housing, education and employment, peace and social progress, economic development, and justice” – Juan Pablo II. Globalization is a topic that often generates controversy and it is still a highly debated topic since as it is talked about, there are many pros and cons. 

Joseph E Stiglitz said: "what worries is that globalization is producing rich countries with poor populations" Now, how can we define what globalization is?

Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought by cross-border trade in goods and services, technology, flows of investment, people, and information. Countries have built economic partnerships to facilitate these movements over many centuries. But, the term gained popularity after the Cold War in the early 1990s, as these cooperative arrangements shaped modern everyday life.

Globalization statistics

Backgrounds of Globalization

For some people, this global phenomenon is inherent to human nature. Because of this, some people claim that globalization began about 60,000 years ago, just at the beginning of human history. Throughout time, human societies´ exchanging trade has been growing. Since the old times, different civilizations have developed commercial trade routes and experienced cultural exchanges. 

This phenomenon has continued throughout history, notably through military conquests and exploration expeditions. But, it wasn´t until technological advances in transportation and communication that globalization speeded up. Let´s dig more in its advances within history.

Types of globalization

There are several types of globalization that can be distinguished between four main ones: economic, cultural, social and political, and technological globalization.

Economic globalization consists of free trade, that is, eliminating tariffs and barriers so that capital can circulate freely and thus create a world market. In this sense, it is necessary to distinguish between three types of capital:

- Productive capital:

It is the money that is invested in materials, tools, and labor.

- Commercial capital:

Corresponds to sales and acquisitions of goods and services.

- Financial capital:

It includes loans, credits, and investments.

In cultural globalization, the role of the English Language as a common thread, which acts as a lingua franca, should be highlighted here.

Globalization also extends to the social and political areas. From a social point of view, the premise is that everyone is equal and should be treated in the same way, regardless of their social status, their place of birth, or their beliefs.

From a political point of view, it consists of countries coming together to face problems that apply to the whole of society and not just to a part.

Without technology, most likely the rest of the fields would not have been globalized in the same way. Globalization has not yet finished its journey, but it has already had a notable impact on the world.

Advantages and disadvantages

Globalization has benefits that cover many different areas. It reciprocally developed economies all over the world and increased cultural exchanges. It also, allowed financial exchanges between companies, changing the paradigm of work. Many people are nowadays citizens of the world. However, globalization is a complex phenomenon. As such, it has a considerable negative influence as well as several areas of contemporary societies. 

Let´s take a look at some of the main negative effects that globalization has had so far.

Globalization as a tool for prosperity and peace

 Globalization became an important role for communication and the economy around the world. However, it is well known that conditions will not be the same for different nations, nations that suffer because of their lack of resources to live in proper conditions 

But, there are many ways how globalization can help to finish with it. Fair Globalization is about harnessing the benefits of globalization while promoting sustainable economic and social development. A key premise of Fair Globalization is the importance of social dialogue among governments, workers, and organizations within and across borders to achieve social cohesion and promote international labor standards. 

Sustaining globalization through policy actions.

The global economy has yielded enormous economic gains around the world. But, problems undoubtedly remain. There are abuses within the system and rules need to be updated.

The role of governments and the increasing levels of globalization have turned the world into a global village. However, the government needs to intervene to secure justice for different groups of people and make globalization fairer for all. The government can play a major role by making the process of globalization fair, which would create opportunities for all. Also, it will ensure that the benefits of globalization are shared better.

To better manage these megatrends, governments must carefully select, prepare, prioritize, and implement country-specific structural reforms that can boost long-term growth, improve competitiveness and productivity, create jobs, and ensure a cleaner environment, and equal opportunities all going for all.

The governments can also put in place trade and investment barriers if necessary, to protect the interests of the local people as well as the domestic market. It can support small producers to improve their performance till the time they become strong enough to compete.

On an individual level, globalization has affected the standard of life and quality of life of individuals and families throughout the world in wealth, comfort, material goods, and necessities available to a certain. But instances, the quality of life has improved for those who live in developed nations. 

On the other hand, in developed nations, globalization has led to an improvement in the standard of living, through improved roads and transportation, improved health care, and improved education due to the global expansion of corporations and some benefits more.

Credits

 This post has been designed by Ana Azucena López Chávez, Diana Guadalupe Pineda Arévalo, Miguel Alfonso Angel Rodríguez and Dennis Antonio Hernández Durán, students from Advanced English II "A" subject at UNICAES CRI. 

Special thanks to our teacher Fátima del Carmen Francia Hernández for letting us develop such incredible tasks in which we have had the opportunity to know about social issues within globalization. 

This blog has been last updated on May 28th, 2021

Bibliographical sources

Pink Cute Chic Vintage 90s Virtual Trivia Quiz Video Presentations de ANA AZUCENA LOPEZ CHAVEZ

Educame T. (2018)  (In this video we explain the process of globalization and the drivers of globalisation). What it is Globalization. Recovered from: https://www.youtube.com/watch?v=ZNejKHKSbl0   

 Free Encyclopedia.Norway (edit)  Wikipedia ,(2019) . Recovered from:  https://en.wikipedia.org/wiki/Globalization

Guliman R. ( 25 February 2021) (This video is GCE)  Types of globalization recovered from: https://www.youtube.com/watch?v=xdIuVvTVxWs

J.Parlia. Encyclopedia.Parlia (opinion), 2021. Recovered from : https://www.parlia.com/c/advantages-disadvantages-globalization

Kolb, M. ( 4^th  October, 2011).  Peterson Institute for International Economics ( what is the globalization) PILE recovered from: https://www.piie.com/microsites/globalization/what-is-globalization

Matter. Y, (6^th October 2020).Globalization: Benefits, Effects, Examples,( Article).Recovered from: https://youmatter.world/en/definition/definitions-globalization-definition-benefits-effects-examples/

Organization for Economic and Development, (OECD). (2020), Uncertain global prompt goverments to embark on reforms that boost sustainable growth, raise incomes and increase opportunities for all. Recovered from: https://www.oecd.org/economy/uncertain-global-economy-should-prompt-governments-to-embark-on-reforms-that-boost-sustainable-growth-raise-incomes-and-increase-opportunities-for-all.htm

 Organization for Economic and Development,(OECD) ,(12^th July 2019) .Recovered from: https://youtu.be/b516YhKrqpA

Paul K and staff. (5^th May 2021). MasterClass.(Article), Recovered from: https://www.masterclass.com/articles/how-globalization-works-pros-and-cons-of-globalization#what-is-globalizatioz

Presentation

 

Educame T. (2018)  (In this video we explain the process of globalisation and the drivers of globalisation). What it is Globalization. Recovered from: https://www.youtube.com/watch?v=ZNejKHKSbl0  

 Free Encyclopedia.Norway (edit) Wikipedia ,(2019) . Recovered from:  https://en.wikipedia.org/wiki/Globalization

Guliman R. ( 25 February 2021) (This video is GCE)  Types of globalization recovered from: https://www.youtube.com/watch?v=xdIuVvTVxWs

J.Parlia. Encyclopedia.Parlia (opinion), 2021. Recovered from : https://www.parlia.com/c/advantages-disadvantages-globalization

 Kolb, M. (4^th  October, 2011).  Peterson Institute for International Economics ( What is the globalization) PILE recovered from: https://www.piie.com/microsites/globalization/what-is-globalization

Matter. Y, (6^th October 202o).Globalization: Benefits, Effects, Examples,( Article).Recovered from: https://youmatter.world/en/definition/definitions-globalization-definition-benefits-effects-examples/

Organization for Economic and Development, (OECD). (2020), Uncertain global prompt goverments to embark on reforms that boost sustainable growth, raise incomes and increase opportunities for all. Recovered from:rom:https://www.oecd.org/economy/uncertain-global-economy-should-prompt-governments-to-embark-on-reforms-that-boost-sustainable-growth-raise-incomes-and-increase-opportunities-for-all.htm

  Organization for Economic and Development,(OECD),(12^thJuly2019).Recovered from:      https://youtu.be/b516YhKrqpA

 Paul K and staff. (5^th May 2021). MasterClass.(Article), Recovered from: https://www.masterclass.com/articles/how-globalization-works-pros-and-cons-of-globalization#what-is-globalizat

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