Globalization Essay

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Globalization What exactly is globalization? A vast catchphrase in political dialogue and a universally reasoned classification in educational argument, globalization functions currently relatively like modernization did in the mid-twentieth century as the fundamental expression of a controlling discussion about the overall state of the world. One of the best mutually political descriptions of the dialogue portrays globalization as an unrelenting progression of global assimilation, an apparently unavoidable progression that while being propelled by free market capitalism also requires all the free market restructurings of neo-liberalism. Here, for example, is Thomas Friedman (1999, pp. 7–8), a columnist of the New York Times. “Globalization, he says, involves the inexorable integration of markets, nation-states, and technologies to a degree never witnessed before – in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper and cheaper than ever before. The driving idea behind globalization is free-market capitalism – the more you let market forces rule and the more you open your economy to free trade and competition, the more efficient and flourishing your economy will be.” Globalization is nothing more than the growth of something; be it a business or a trendy song, to a global scale. What has been the impact of the global financial crises on globalization? Although the initial reaction the global financial crises has had on globalization may have been to spread fear serving to undermine the cooperation necessary to repair the damage from the financial crises, one result has been a focus on the need for cooperation. According to Douglas J. Elliott, “the impact on and reaction from developed countries and emerging markets differ based on their global economic integration and policy responses.” G20

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