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Is Globalization Really Necessary





Introduction:

Globalisation is a generalized term for a complicated series of economic, technological, social, cultural and political changes, seen as the ever- increasing interdependence and integration among people and companies in different locations. Such international links have existed for many centuries, but, having broadened, intensified, and changed the nature of these links many times; the modern world economy is unlike any previous international economy. Despite being in theory, in existence for centuries, the term globalisation' was first used in 1944, although its prominent use by economists commenced in the 1980's. Globalization can be broken down into separate aspects: Industrial globalization or transnationalization refers to the expansion and dominance of multinational organizations. Financial globalization is the emergence of worldwide financial markets and the increasing access to external financing for all levels of borrowers.



Definition:

Globalisation is defined as "the trend towards increasing inter-relationships and integration among countries in the international economy through international trade, free markets, foreign direct investments, and capital mobility." in both social and economic aspects.





Examples:

People all around the world are more aware of other people, cultures and countries.
The production of goods and services happens in many countries – and often the making of one product may involve several countries.
Globally communications between countries happens much more quickly and easily due to the internet, the media, etc.
There are several corporations around the world that are based in many different countries – production may occur in one country, head office is in another, sales occur on another and so...