Introduction to Globalization PDF

I N T R O D U C T I O N TO G L O B A LI ZA T I O N The Contemporary World CONTEMPORARY ▪ Happening / Beginning now, or in recent times ▪ Existing or happening in the same time period CONTEMPORARY WORLD ▪The circumstances and ideas of the present age ▪Modern times ▪Modern wor...

I N T R O D U C T I O N TO G L O B A LI ZA T I O N The Contemporary World CONTEMPORARY ▪ Happening / Beginning now, or in recent times ▪ Existing or happening in the same time period CONTEMPORARY WORLD ▪The circumstances and ideas of the present age ▪Modern times ▪Modern world ▪Present times WHY I S IT I M P O R T A N T T O S T U D Y C O N T E M P O R A R Y WORLD? To be AWARE and I N T E R E S T E D in the problems that the world faces To understand different natures built and relationships built between societies and other organizations of the world To develop competencies, construct knowledge, and increase one’s critical judgment To inculcate a sense of global citizenship and global ethical responsibility GLOBALIZATION DEFINITION Globalization is the increasing interaction of people, states, or countries through the growth of the international flow of money, ideas, and culture. Thus, globalization is primarily focused on economic process or integration that has social and cultural aspects. The interconnectedness of people and business across the world that eventually lead to global, cultural, political, and economic integration It is the ability to move and communicate easily with others all over the world to conduct business internationally DEFINITION It is the free movement of goods, services, and people across the world in a seamless and integrated manner. It is the liberalization of countries of their impact protocols and welcome foreign investment into sectors that are the mainstays of its economy It refers to countries acting like magnets attracting global capital by opening up their economies to multinational corporations G L O B A L IZ A T I O N A S D E F I N E D B Y O T H E R AUTHORS Globalization as process by which the people of the world are incorporated into a single world society – Martin Albrow and Elizabeth King Globalization as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa. – Anthony Giddens (The Consequence of Modernity) Globalization as the compression of the world and the intensification of the consciousness of the world as a whole. – Prof. Roland Robertson (Sociology), 1992, University of Aberdeen C H A R A C T E R I S T I C S O F G L O B A L I ZA TIO N There is social mobility of movement of people regardless of reason There is an intensification of interactions It’s an active process Borderless interaction Spread of ideas, knowledge, technology, culture, religion, etc. H I S T O R I C A L F O U N D A T I O N O F T H E T ERM “GLOBALIZATION” INDICATORS OF GLOBALIZATION Interdependence of countries in different social aspects Advancement of science, technology, etc. Environmental issues across borders Economic globalization, cultural globalization, and political globalization Nature of Globalization A conglomerate of various multiple units located in different parts of the globe which are linked by common ownership. Multiple units draw a common pool of resources such as money, credit, information, patents, trade names and control system. Nature of Globalization The units respond to some common strategy. Product presence is in different markets of the world. Human resources are highly diverse. Transactions involving intellectual properties such as copyrights, patents, trademarks, and process technologies are across the globe. Reasons for Globalization Reasons for Globalization  Globalization vs Internationalization Globalization refers to the process of increased interconnectedness and interdependence among countries, economies, cultures, and societies around the world. It involves the flow of goods, services, capital, information, technology, and people across national borders. Internationalization, on the other hand, refers to a more specific process of expanding a business or organization's operations across national borders. It often involves companies entering foreign markets, establishing subsidiaries or branches in other countries, or engaging in international trade and investment.  Globalization vs Liberalization Liberalization, specifically economic liberalization, refers to the process of reducing government regulations and restrictions on economic activities, particularly in the areas of trade, investment, and market competition. Economic liberalization often involves reducing tariffs, trade barriers, and restrictions on foreign investment, as well as promoting free-market policies. The goal of liberalization is to encourage economic efficiency, competition, and growth by allowing market forces to play a more significant role in determining prices, production, and allocation of resources.  Globalization vs Universalization Universalization is a concept related to the idea of making something universal or applicable to all, regardless of geographical, cultural, or other differences. It often pertains to principles, values, or norms that are considered to be universally applicable or valid. For example, the idea of human rights is often associated with universalization because it asserts that certain rights and freedoms should apply to all individuals regardless of their nationality or cultural background. Globalization vs Westernization Westernization refers to the process by which societies adopt or become influenced by the cultural, social, economic, and political norms, values, and practices that are traditionally associated with Western Europe and North America, often referred to as "the West." This influence can manifest in various ways, such as the adoption of Western-style clothing, consumer products, technology, political systems (e.g., democracy), legal frameworks, and cultural norms (e.g., individualism). Stages of Globalization Stages of Globalization Merits of Globalization Demerits of Globalization end.