Globalization

Zackarias Austria

24 Sep

To

batz_austria@yahoo.com

GLOBALIZATION

There are many ways by which globalization has been defined. People around the world are more linked to each other than ever before. Information and money flow more speedily. Goods and services produced in one part of the world are increasingly obtainable in all parts of the world. International travel is more common. International communication is simple and fast. This fact has been termed as “globalization”.

Globalization has been intensifying as people around the world see it either as an efficient tool for global development and sustainability or a barrier that pushes nations to their limit, or for most third-world nations, to their subsidence and total dependency on greater world powers. Nonetheless, the world cannot ignore it for the views and attitudes expressed in it may affect policies and actions directed to conditions securing future economic growth and well-being of people throughout the world.

Different factors led us to globalization, including primarily development of new technologies of communication (Vij, 2007:2) and transportation systems (Fischer, 2003:5).

Globalization defined also defined as an integration of economy, finance, trade, and communication form a world-wide perspective, in order to establish a successful economy on global basis.

Globalization has opened gates for economies both nationally and globally. Many governments acquiring the systems of free markets, thereby, maximizing their own potential and opportunities for international business as well as investment. As a result of globalization governments all over the world worked towards the elimination of limitations to business and trade of goods and services across the world. With these new opportunities having hit the global economies so hard, industries took advantage by constructing new business corporations in foreign markets with their associates. This gave international...