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What is globalization to you?

--- total transparency, I'm planning on writing a piece on how people view globalization (not for examination or anything though) so would appreciate your thoughts ---

When you think of globalization:

What are the main attributes that come to mind?

Who wins and who loses out?

What causes globalisation?

Reply 1

Zero 1

interaction and integration of markets across the world, less restrictions on trade, larger markets.

large firms, and consumers benefit, small inefficient firms lose (followed by the complaints of traditionalists), workers win and lose depending on what they do and where they are

demand, communication, education, technology, information availability

Reply 2

therealOG

Original post by Jump

What are the main attributes that come to mind?

Who wins and who loses out?

What causes globalisation?

1) The increasing interdependence of the world's social, political, cultural and economic institutions

2) On a Macro scale, the winners are those who are the most ingrained in the global supply chain, as they will have the greatest access to goods and services, they will have the most competitive industries on an international scale, and they will exert the most influence on others (politically, economically and culturally) due to the strength of their position. These winners include the traditional MEDCs (such as the USA), the Asian tiger economies (Taiwan, Japan, South Korea and so on), the BRICs (Brazil, Russia, India, China) and other emerging markets where investment is rising. The losers are those who have missed the boat, the ones who are stuck at the bottom with little prospect of real foreign investment in their economies (much of sub-Saharan Africa for example). This could be due to the fact that investers are too focussed on the "miracle" economies of China and India, and information failure means they are not looking at other viable locations. It could also be due to the fact that these "losers" are undesirable investment locations due to ongoing internal conflicts, poor governance and poor geographical location (they're situated on the periphery of the global economy)

3) Globalisation has been around for 100's of years. There are valid arguments that the world was even more globalised at the start of the 20th century than it was in the year 2000. Globalisation was only possible with technological innovation that opened up rapid communication and transport links with the rest of the world e.g. the telegraph, telephone, ships, railways, roads, air transport, fibre optics etc

(edited 13 years ago)

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