Globalisation

Globalization is the understanding and evolving of tradition and economy.

Globalisation is ...

 * growing connection between people in different countries
 * growth of free markets and trade
 * international communication
 * movement of people (immigration)
 * sharing of customs and cultures
 * becoming more interconnected with each other

How is globalisation good?

 * Technological development is vital and helps connect people.
 * You can buy cheaper products. (Larger market creates competition)
 * It promotes specialization. Experts start making particular things.
 * It improves political links as well as social and cultural understanding.
 * Buying products from other nation gives more choice of goods and service.

How is globalisation bad?

 * 1) Loss of national identity with the influence of other nation-states: food, traditions, language, religion, and entertainment.
 * 2) Huge companies produce mass amounts of products thus undercutting local companies and driving them out of business.
 * 3) The gap or the difference between developed countries and developing countries lead to an exploitation like heavy labor with cheap wages.

Problems of globalization

 * 1) the gap between rich and poor
 * 2) Exploitation
 * 3) Outsourcing
 * 4) Lack of accountability

Supporters of globalization argue...
-Global culture: we share a common culture and the world is becoming homogenous

-Think globally and act locally

-Rapid economic transformation - so fast it has created a new form of politics

-Communications: technology brings up closer together, social groups have changed, difference sense of community

- time and speed: physical connection is not important any longer

-Global policy: traditionally we support our country, now we are more loyal to other groups

Critics of globalization argue...
-It's a myth

-International issues : air pollution, radiation, terrorism

-The word 'globalization' is just another word for 'capitalism'

-No historical depth: difficult to describe trends while they are happening, culture trends may be reversed, we always think 'now' is unusual more it is

-Uneven effects: globalization is only relevant to developed world

-New imperialism

-Companies not really international

-Economy is not so free

-International economy?: trade was more open in the past

Key Terms

 * 1) Cultural Erosion -  loss of national identity.
 * 2) Outsourcing -  when a country produces it products in a different country to reduce the use of financial resources.
 * 3) Interdependence - when people start depending on one another like in a symbiotic relationship.