Globalization in different aspects

Globalization in different aspects

1. Globalization in different aspects Sir Malit

2. Economic Globalization Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies. It reflects the continuing expansion and mutual integration of market frontiers, and is an irreversible trend for the economic development in the whole world at the turn of the millennium. The rapid growing significance of information in all types of productive activities and marketization are the two major driving forces for economic globalization.

3. In other words, the fast globalization of the world’s economies in recent years is largely based on the rapid development of science and technologies, has resulted from the environment in which market economic system has been fast spreading throughout the world, and has developed on the basis of increasing cross-border division of labor that has been penetrating down to the level of production chains within enterprises of different countries.

4. According to UN Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies. It reflects the continuing expansion and mutual integration of market frontiers, and is an irreversible trend for the economic development in the whole world at the turn of the millennium.

5. Sociology, Culture and Globalization Globalization, according to sociologists, is an ongoing process that involves interconnected changes in the economic, cultural, social, and political spheres of society. As a process, it involves the ever-increasing integration of these aspects between nations, regions, communities, and even seemingly isolated places.

6. In terms of the economy, globalization refers to the expansion of capitalism to include all places around the world into one globally integrated economic system. Culturally, it refers to the global spread and integration of ideas, values, norms, behaviors, and ways of life. Politically, it refers to the development of forms of governance that operate at the global scale, whose policies and rules cooperative nations are expected to abide. These three core aspects of globalization are fueled by technological development, the global integration of communication technologies, and the global distribution of media.

7. Cultural Aspects of Globalization The process of cultural globalization happens through the distribution and consumption of media, consumer goods, and the Western consumer lifestyle. It is also fueled by globally integrated communication systems like social media, disproportionate media coverage of the world’s elite and their lifestyles, the movement of people from the global north around the world via business and leisure travel, and the expectations of these travelers that host societies will provide amenities and experiences that reflect their own cultural norms.

8. Globalization of Politics Under globalization, politics can take place above the state through political integration schemes such as the European Union and through intergovernmental organizations such as the International Monetary Fund, the World Bank and the World Trade Organization. Political activity can also transcend national borders through global movements and NGOs. Civil society organizations act globally by forming alliances with organizations in other countries, using global communications systems, and lobbying international organizations and other actors directly, instead of working through their national governments.