Global Interconnectedness Essay

2443 WordsDec 28, 201310 Pages
Name: University: Course: Instructor: Date: Global Interconnectedness Introduction Globalization is a new phenomenon although some scholars have traced its origin in the 19th century. This phenomenon has led to change of everything starting to how governments enact and which instruments of policy are used. According to Bertucci and Alberti (2003, p 8), globalization is perceived as actions at given locality having an influence on another locality. It is a term that is used to explain many phenomena appearing on the globe. For instance, electronic communications removing distance barrier to communication and increasing sharing and dissemination of information. Therefore, this results to a shrinking world. Globalization has been perceived as a positive for those who opt for great economic integration. On the other hand, it is heavily criticized for those who see it as a threat to social cohesion. Globalization has material aspect in it. This is undeniable because globalization involves movement of goods capital and labor across the world. The movement of capital, labor and goods has led to influence of culture and many other aspects that influence people in a nation. For example, in 2004 and 2013, Singapore was rated the most globalized country in the world. For this reason, the Singapore government has earlier chosen English language as an official language for Singapore (Szirmai and Szirmai, 2004, p.56). This decision was made to enhance globalization. Globalization being a new phenomenon, the strategic approaches to business and government policies has dramatically changed. As a result of creation of the new environment resulting from globalization, the traditional instruments used in a strategic position have ceased to function effectively. Globalization has also led to interdependence of economies around the world. The World Bank has listed the
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