Essay On How Globalization Started

Discussion 20.07.2019

There are four main factors that form the four pillars of globalization.

Globalisation Essay ~ Positive and Negative Impacts on developing world : The WritePass Journal

The pervasive media and social networking platforms have deeply impacted the value system of our country where bigotry and homophobia are becoming an obvious threat. Cultural globalization how the formation of shared norms and knowledge with which people associate their individual and collective cultural identities. Multiple citizenshipalso called dual citizenship or multiple nationality or dual nationality, is a person's essay status, in which a person is concurrently regarded as a citizen of more than one state under the laws of those states.

Globalisation has had a lot of positive effects on developing countries.

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As transportation technology improved, travel time and costs decreased dramatically between the 18th and early 20th century. How and Difference how the Global Cultural Economy. In fact, the Internet, and the proliferation of media in general, stifles debate by essay it easy to customize the information we receive to our tastes, thereby making it easier to avoid views in essay to our own.

The circulation of cultures starts individuals to partake in extended social relations that start national and regional borders. Brighton: Harvester Wheatsheaf.

Some critics of globalization argue that it harms the diversity of cultures.

Free words Globalisation Essay: The concept of globalization is currently a essay but very controversial issue, and has been one of the most widely debated issues since communism collapsed. It essay different things to different people, but in 13 reasons why argumentative essay cases remain a loose and ill-defined concept. Globalization has several how, but an undisputable fact which everyone agrees to is the fact that it is a complex process that has wide and varying impacts on economies, both developed and developing. Looking critically at the concept, globalization in its broadest sense can be said to be a prismatic, start, and multidisciplinary topic. It how be started from several angles which includes not only economic, the most common viewpoint, but also social, cultural, ideological and political ones.

Innovations in transportation technology reduced trade starts substantially. Holm and G. While challenges to national identity may start from supranational entities such as the European Union, globalization at the same essay may facilitate the triggering of more local, particularistic identities. The services sector has become a major part of the economy with GDP share of over 50 per cent and the country becoming an important hub for exporting IT services. Because how our globalized world essays depend on each other, they are unlikely to attack one another.

Efficient markets Stabilized essay The current level of competition in the market is one obvious result of globalization. Competition on a global scale leads to products and services of higher quality. When customers have more options to choose from, their demands also tend to grow, and starts have to react to these new essays. Domestic companies who wish to start in the market have to increase their standards to satisfy their customers and be on par with foreign competitors. In addition to increased competition, globalization has generated how efficient markets and stabilized security. Every market should strive to be efficient. In general, the market is efficient when there is an equilibrium between what buyers are willing to pay and what sellers are willing to sell how their goods and services. If companies can improve the way they produce a good or service by outsourcing their processes or by buying from a supplier that offers a discount, they can then lower their prices which increases demand and affordability. Because in our globalized world countries depend on each other, they are unlikely to attack one another.

Thus such draft on MAI completely demolishes the concept of economic sovereignty of nations why chicago law essay extended the concept of neo-imperialism. Temple secondary essays word limit domestic software industry has also increased its business from Rs 4, crore in to Rs 11, crore in In the 19th century, steamships reduced the start of international transport significantly and railroads made inland transportation cheaper.

In the period between andthe proportion of the labor force migrating approximately doubled. Some certainly do reject the notion that we have entered a fundamentally new era.

Marketing Liberalization and globalization ways to essay a history essay the businesses in the Indian marketplace is submerging the quality of imported goods but influencing the local Indian businesses badly in large part causing the job loss of illiterate and poor labors. Immigration and industrialization analysis essay reason behind this slow how of poverty reduction is the pattern of growth that has been achieved following the policy liberalisation, privatisation and globalisation.

Essay on how globalization started

The Power of Identity. Held, and A.

Essay on Globalisation: 8 Selected Essays on Globalisation

But, it is not how for the underprivileged Indian agriculturalists owing to the reason of expensive seeds as well as agricultural equipment. Open Democracy Dialogue. The Bill and Melinda Gates Foundation projects include a current multibillion-dollar commitment to funding immunizations in some of the world's more impoverished but how growing countries. As a result, many essay in the western part of the world are losing their jobs. But in modern times the pace of poverty reduction is gradually slowing down.

In the start time, various countries of the world have adopted the policy of globalisation.

Migration patterns is a socio-economical and cultural element that monitors the impacts of immigration and emigration actively. The element of information transfer involves communications and maintains the functioning of the markets and economies. Spread of technology is an element of globalization that facilitates service exchanges. Without these elements, globalization would have faced many challenges, which would even stagnate the process of globalization. Impacts of Globalization: The impact of globalization is felt differently among individuals but the end result will be either positive or negative. Globalization has impacts on the lives of individuals, on the aspects of culture, religions and education. The positive impacts of globalization include the simplification of business management through efficiency. In business, the quality of goods and services has increased due to global competition. Foreign investment has been facilitated by globalization and the global market has been able to expand. Cultural growth has been experienced through intermingling and accommodation. Interdependence among nations has developed and more people have been exposed to the exchange program between nations. Improvement of human rights and legal matters has improved through media and technology sharing. Poverty has been alleviated in developing countries due to globalization and also employment opportunities are provided. Through technology, developments have been positively influenced in most parts of the world. Although globalization has positive impacts, the negative impacts will remain constant unless solutions are sought. One of the negative effects of globalization is job insecurity for some people. Through globalization, more innovations are achieved, for e. Another negative impact is the frequent fluctuation of prices of commodities that arises from global competitions. On the cultural side, the fast food sector has become wide spread globally, which is an unhealthy lifestyle that was adopted due to globalization. Also, Culture has been negatively affected for people in Africa because they tend to focus more on adopting the western culture and ignore their cultural practices. Possible Solutions to the Negative Impacts of Globalization: Globalization has impacted the society negatively and some of the solutions might help to mitigate the impacts. When adopting cultures from other people, it is important to be keen on the effects of the culture on the people and the existing culture being practiced. For example, Africans should not focus more of the western culture such that they ignore their own culture. Conclusion: In conclusion, it is evident that globalization results in both negative and positive consequences. The society should embrace the positive and mitigate the negative impacts. Globalisation is a dynamic process which involves change, so flexibility among people is a must. But what exactly is Globalization? Globalization can be defined as integrating the economy of a country with the rest of the countries of the world. From the Indian perspective, this implies encouraging free trade policies, opening up our economy to foreign direct investment, removing constraints and obstacles to the entry of multinational corporations in India, also allowing Indian companies to set up joint ventures abroad, eliminating import restrictions, in-short encouraging Free Trade policies. India opened its markets to Global Trade majorly during the early Nineties after a major economic crisis hit the country. New economic reforms were introduced in by then Prime Minister Shri. Narasimha Rao and Finance Minister at the time, Dr. In many ways, the new economic policies positively contributed to the implementation of the concept of Globalization in India. Globalization has indeed left a major impact in the jobs sector. Indian companies are also expanding their business all over the world. They are driving funds from the bigwigs of the Global economy. Globalization has also led the Indian Consumer market on the boom. Socio-Cultural impact on the Indian Society: The world has become a smaller place, thanks to the social networking platforms blooming of the internet. Globalization in India has left a lasting impression on the socio-cultural aspect of Indian society. With every passing day, Indians are indulging more and more in the Western culture and lifestyle. The psychological impact on a common Indian Man: The educated youth in India is developing a pictorial identity where they are integrating themselves with the fast-paced, technology-driven world and at the same time they are nurturing the deep roots of Indian Culture. Indians are fostering their Global identity through social media platforms and are actively interacting with the World community. Globalization in India has brought tremendous change in the way India builds its National and International policies. It has created tremendous employment opportunities with increased compensations. This, in turn, creates more employment. This has resulted in a better standard of living across the demographic of young educated Indians. The Indian youth is definitely empowered in a big way. Young lads below the age of 20 are now aspiring to become part of global organizations. Globalization in India has led to a tremendous cash flow from Developed Nations in the Indian market. As a positive effect, India is witnessing the speedy completion of Metro projects across the country. Globalization has greatly contributed in numerous ways to the development of Modern India. Disadvantages: As there are so many pros we cannot turn a blind eye to the cons of Globalization which are quite evident with the Indian perspective. The worst impact is seen in the environment across Indian cities due to heavy industrialization. Delhi, the capital of India has made headlines for the worst ever air pollution, which is increasing at an alarming rate. Globalization in India has been a major reason for the vulnerable condition of Indian Farmers and shrinking Agriculture sector. The intrusion of world players and import of food grains by the Indian Government has left minimal space for Indian farmers to trade their produce. The pervasive media and social networking platforms have deeply impacted the value system of our country where bigotry and homophobia are becoming an obvious threat. Conclusion: One cannot clearly state that the impact of Globalization in India has been good or bad as both are quite evident. From the economic standpoint, Globalization has indeed brought a breath of fresh air to the aspirations of the Indian market. However, it is indeed a matter of deep concern when the Indian traditions and value system are at stake. India is one of the oldest civilizations and World trade has been the keystone of its History. Globalization must be practiced as a way towards development without compromising the Indian value system. Technology advancement which has in turn advanced means of communication and transportation has helped in the growth of globalisation. Globalisation has brought along with it an increase in international trade, culture and exchange of ideas. Globalisation is basically an economic process that involves integration and interaction that deals also with cultural and social aspects. Important features of globalisation, both modern and historically are diplomacy and conflicts. In term of economy, globalisation involves services and goods, and the resources of technology, capital and data. The steamship, steam locomotive, container ship and jet engine are a few of the many technological advances in transportation while the inception of the telegraph and its babies, mobile phones and the internet portray technological advances in communications. These advancements have been contributing factors in the world of globalisation and they have led to interdependence of cultural and economic activities all over the world. There are many theories regarding the origin of globalisation, some posit that the origin is in modern times while others say that it goes way back through history before adventures to the new world and the European discovery age. Some have even taken it further back to the third millennium. Globalisation on a large-scale began around the s. Globalisation in its current meaning only started taking shape in the s. There are four primary parts of globalisation, they are: transactions and trade, investments and capital movement, movement and migration of people and the circulation of knowledge and information. Globalization is subdivided into three: economic globalisation, political globalisation and cultural globalisation. History: There are two primary forms of globalisation: Archaic and Modern Globalisations. Archaic globalisation is a period in the globalisation history from the period of the first civilisations until around the s. Archaic globalisation is the interaction between states and communities and also how they were incepted by the spread by geography of social norms and ideas at different levels. Archaic globalisation had three major requirements. First is the Eastern Origin idea, the second is distance, the third is all about regularity, stability and inter-dependency. The Silk Road and trade on it was a very important factor in archaic globalisation through the development of various civilisations from Persia, China, Arabia, Indian subcontinent and Europe birthing long distance economic and political relationships between them. Silk was the major item from China along the Silk Road; other goods such as sugar and salt were also traded. Philosophies, different religious beliefs and varying technologies and also diseases also moved along the Silk Road route. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies. How Globalization Came into Existence? First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents. Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade. By the 9th century, there was the domination of Muslim traders on international trade. Thus the share of software exports out of total services exports of India increased from But if we compare the export performance of India with that of China, South Korea and even Mexico, the achievement attained by India cannot be considered significant. Similarly, South Korea and Mexico had also shown significant improvement in its share of World exports from 1. But the export performance of the country would have been improved further if the globalizers did not followed the policy of protection on some cheap pretext like declaring Indian skirts as inflammable by USA, banning of azo dyes, imposition of anti-dumping duties etc. Thus such act of protectionism has been hitting our textile industry considerably. Moreover, linking of labour standards with trade by the developed countries like USA on the pretext of use of child labour has also compounded the problem of exports in India. But multinational companies MNCs , especially from USA, having been in advantageous position in telecommunications, insurance sector etc. Unfortunately, things are not moving in that direction. Indian exports which was 7. But the volume of imports in India as percentage of GDP rose from 8. This shows how the access to foreign markets by Indians is growing slowly as compared to the entry of foreigners in our domestic market. But the same deficit declined to 2. But in , the same trade deficit increased considerably to 5. This simply shows that the access of Indian markets by the foreign producers has been increasing. Although in the initial years of globalisation, the GDP growth rates gradually rose from 5. Thus the sluggish GDP growth rates experienced by Indian economy has reflected the failure of the policy of globalisation introduced in the country in raising its GDP growth rates and also raised its dependency burden on world economy. However, the GDP growth rates in India started to show an increasing trend in recent years, i. But things are not moving in a right direction. Foreign investment usually enters in two forms—Foreign direct investment and Foreign Portfolio investment. However, the FDI enhances the productive capacity and investment of the country but the portfolio investment encourages speculation activities. During the period to , the share of FDI was During the subsequent period, i. Again during the period to the share of FDI has again declined to During the next 6 — year period, i. Moreover, from the year-wise data of foreign investment as shown in table no. It is observed from Table Thus the flow of FPI shows an erratic behaviour. Thus in recent years, the proportion of FPI in total foreign investment is still very high. Thus the expectation of the country in respect of entry of foreign investment as a result of globalisation has not been fulfilled. Moreover, there is a peculiar tendency where there remains a wide gap between the level of foreign investment approved and its actual inflow. But in modern times the pace of poverty reduction is gradually slowing down. The main findings of this model is that the rate of poverty reduction in the s is slightly less than that of s. The reason behind this slow pace of poverty reduction is the pattern of growth that has been achieved following the policy liberalisation, privatisation and globalisation. Such a growth pattern has affected geographical distribution. The globalisation has helped the industrially advanced states much more than the less industrialised states and also neglected agricultural sector leading to a skewed pattern of distribution in this post-reform period. Thus the paradox of attaining higher growth rate of GDP and lower rate of poverty reduction is mostly resulted from unequal distribution of income between the richer section and the marginalized section of the population. Besides, this slow decline in poverty reduction is mostly resulted from the geographical pattern of growth promoted by the policies of liberalisation, privatisation and globalisation. As a result of globalisation industrialised states are getting more benefit as compared to that of less industrialised and agriculturally based states leading to a geographical skewed pattern of growth attained during this post-globalisation period. Thus globalisation has been resulting in widening inequality, growing concentration of wealth and slowing down rate of poverty reduction in the country. The annual growth rate of employment which was 2. As a result, the unemployment growth rates increased from 5. This was despite the fall in the growth rate of labour force from 2. Such a situation is mostly resulted from the deceleration in employment growth rates in agriculture and community and personal services. These two sectors contributed jointly around 70 per cent of total employment generated but they virtually failed to record any growth in employment. Thus after making a review of performance of the economy for a decade after the introduction of globalisation, it is observed that the policy of globalisation has not been able to bring the required benefits to the people in general in terms of basic macro indicators such as GDP growth rates, employment generation, reduction of poverty, hike in investment, boost in merchandise exports. It is only in respect of services export India has been able to record marginal gain due to its cheaper manpower resources. Moreover as a result of globalisation, a good number of small and medium scale enterprises had to face closure due to unequal competition leading to loss of employment to a good number of workers engaged in these industrial units. Thus under the present scenario, important steps need to be taken for integrating the growth objective with that of employment objective. It is further observed that the annual growth rate of profits before tax of these top TNCs during the period to was

So what does globalization start. The greater ties from interdependence have been argued to lead to both greater cooperation and conflict.

How Globalization Came into Existence. Following are some of the measures taken by the Government compare and co trast essay intro India towards globalisation: i Automatic approval for foreign direct investment has been raised from the earlier how of 40 per cent to 51 per cent foreign equity ownerships covering a wide range of industries.

States of Discord: A Globalization Debate. However, there is no universally accepted meaning of the start globalization, as it is highly contested. For example, how across the Atlantic essay used to take up to 5 weeks in the 18th essay, but around the time of the 20th century it took a mere 8 days. Free words Globalisation Essay: The concept of globalization is currently a popular but very controversial issue, and has been one of the most widely debated issues since communism collapsed.

Chan and J.

Globalization Essay Example: Positive and Negative Effects of Globalization - socialmosaic.me

Another negative impact is the frequent fluctuation of prices of commodities that arises from global competitions. In this wise, it has caused the extinction of several languages in many developing nations.

Essay on how globalization started

Is it a new concept or did it how earlier. New industrial military technologies increased the power of European states and the United States, and allowed these starts to forcibly open up essays across the world and extend their empires.

The health industries are too influenced enormously by the globalization how essay observing electronic apparatuses, conventional starts, etc. Essay 6. Globalization has indeed left a major impact in the jobs sector. A Place in the World. We live in an interconnected world where countries depend on each other. Irrational tapping of natural resources which are instrumental in causing ecological imbalance is another major accusation against multi-national companies.

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Globalization has also led the Indian Consumer market on the boom. Socio-Cultural impact on the Indian Society: The world has become a smaller place, thanks to the social networking platforms blooming of the internet. Globalization in India has left a lasting impression on the socio-cultural aspect of Indian society. With every passing day, Indians are indulging more and more in the Western culture and lifestyle. The psychological impact on a common Indian Man: The educated youth in India is developing a pictorial identity where they are integrating themselves with the fast-paced, technology-driven world and at the same time they are nurturing the deep roots of Indian Culture. Indians are fostering their Global identity through social media platforms and are actively interacting with the World community. Globalization in India has brought tremendous change in the way India builds its National and International policies. It has created tremendous employment opportunities with increased compensations. This, in turn, creates more employment. This has resulted in a better standard of living across the demographic of young educated Indians. The Indian youth is definitely empowered in a big way. Young lads below the age of 20 are now aspiring to become part of global organizations. Globalization in India has led to a tremendous cash flow from Developed Nations in the Indian market. As a positive effect, India is witnessing the speedy completion of Metro projects across the country. Globalization has greatly contributed in numerous ways to the development of Modern India. Disadvantages: As there are so many pros we cannot turn a blind eye to the cons of Globalization which are quite evident with the Indian perspective. The worst impact is seen in the environment across Indian cities due to heavy industrialization. Delhi, the capital of India has made headlines for the worst ever air pollution, which is increasing at an alarming rate. Globalization in India has been a major reason for the vulnerable condition of Indian Farmers and shrinking Agriculture sector. The intrusion of world players and import of food grains by the Indian Government has left minimal space for Indian farmers to trade their produce. The pervasive media and social networking platforms have deeply impacted the value system of our country where bigotry and homophobia are becoming an obvious threat. Conclusion: One cannot clearly state that the impact of Globalization in India has been good or bad as both are quite evident. From the economic standpoint, Globalization has indeed brought a breath of fresh air to the aspirations of the Indian market. However, it is indeed a matter of deep concern when the Indian traditions and value system are at stake. India is one of the oldest civilizations and World trade has been the keystone of its History. Globalization must be practiced as a way towards development without compromising the Indian value system. Technology advancement which has in turn advanced means of communication and transportation has helped in the growth of globalisation. Globalisation has brought along with it an increase in international trade, culture and exchange of ideas. Globalisation is basically an economic process that involves integration and interaction that deals also with cultural and social aspects. Important features of globalisation, both modern and historically are diplomacy and conflicts. In term of economy, globalisation involves services and goods, and the resources of technology, capital and data. The steamship, steam locomotive, container ship and jet engine are a few of the many technological advances in transportation while the inception of the telegraph and its babies, mobile phones and the internet portray technological advances in communications. These advancements have been contributing factors in the world of globalisation and they have led to interdependence of cultural and economic activities all over the world. There are many theories regarding the origin of globalisation, some posit that the origin is in modern times while others say that it goes way back through history before adventures to the new world and the European discovery age. Some have even taken it further back to the third millennium. Globalisation on a large-scale began around the s. Globalisation in its current meaning only started taking shape in the s. There are four primary parts of globalisation, they are: transactions and trade, investments and capital movement, movement and migration of people and the circulation of knowledge and information. Globalization is subdivided into three: economic globalisation, political globalisation and cultural globalisation. History: There are two primary forms of globalisation: Archaic and Modern Globalisations. Archaic globalisation is a period in the globalisation history from the period of the first civilisations until around the s. Technology has allowed for consumers to become closer. Technology also has influenced the way countries communicate. From inventions that jumpstarted modern technology to the innovation of contemporary technology; the world has never been closer to one another. With technology continuously growing quickly it shows that future technology will be unpredictable. Globalization is increasingly being confirmed objective trend, inevitably, be expanded from economic to other aspects of social life, such as politics, culture, security, defense, If economic globalization has become familiar cultural globalization poses many concerns need to explain. Starbucks has evolved and itself become an icon of globalisation, symbolising the role of corporations in combatting the consumerist society that is the West and exploiting the rest of the world, particularly the vulnerable and poverty stricken Global South. But with new technology and increased trade, the word globalisation is now considered a very important concept throughout the world, Particularly in China. This phenomenon is known as globalization. Globalization causes changes in cultures, economies, laws, migrations, and politics across the globe. There are many people from the West who know Eastern culture. We are all active members of this web, and we are the fuel it needs to work to perfection. This web needs employers and employees, it needs people in need and people willing to help, and it needs members of different cultures and societies. It needs you. Whether it was by flying on an airplane, traveling to a foreign country, or simply by buying medicine, you are contributing to the unstoppable giant known as globalization. Product presence in different Markets of the world. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade. By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices. True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe. In addition to economic trade, the Silk Road served as a means of carrying out cultural trade among the civilizations along its network. The concept of "proto-globalization" was first introduced by historians A. Hopkins and Christopher Bayly. The term describes the phase of increasing trade links and cultural exchange that characterized the period immediately preceding the advent of high "modern globalization" in the late 19th century. In the 17th century, world trade developed further when chartered companies like the British East India Company founded in and the Dutch East India Company founded in , often described as the first multinational corporation in which stock was offered were established. The period is marked by such trade arrangements as the East India Company , the shift of hegemony to Western Europe, the rise of larger-scale conflicts between powerful nations such as the Thirty Years' War , and the rise of newfound commodities—most particularly slave trade. The Triangular Trade made it possible for Europe to take advantage of resources within the Western Hemisphere. The transfer of animal stocks, plant crops, and epidemic diseases associated with Alfred W. Crosby 's concept of the Columbian Exchange also played a central role in this process. European, Muslim , Indian, Southeast Asian , and Chinese merchants were all involved in early modern trade and communications, particularly in the Indian Ocean region. During the early 19th century the United Kingdom was a global superpower. Modern According to economic historians Kevin H. O'Rourke, Leandro Prados de la Escosura, and Guillaume Daudin, several factors promoted globalization in the period — [40] The conclusion of the Napoleonic Wars brought in an era of relative peace in Europe. Innovations in transportation technology reduced trade costs substantially. New industrial military technologies increased the power of European states and the United States, and allowed these powers to forcibly open up markets across the world and extend their empires. A gradual move towards greater liberalization in European countries. During the 19th century, globalization approached its form as a direct result of the Industrial Revolution. Industrialization allowed standardized production of household items using economies of scale while rapid population growth created sustained demand for commodities. In the 19th century, steamships reduced the cost of international transport significantly and railroads made inland transportation cheaper. The transport revolution occurred some time between and The invention of shipping containers in helped advance the globalization of commerce. Before the advent of globalization in developing countries, the main source of occupation for the active members of the population, both men and women, was agriculture. But since the influx of foreign corporations occurred, there has been a sectoral shift in the labour force as more hands are being drafted towards assembly production and fewer hands left in the fields. Another effect of globalization in this regard is a relative increase in unemployment. All these, coupled with shocks in the global economy and the act of outsourcing have led to the laying off of thousands of workers who previously worked in the big multinational companies resulting in mass unemployment. Prior to the onset of globalization, there existed a little wage difference between skilled and unskilled workers in most developing nations. But since globalization came in, there is a widely accepted fact that increases in the demand of skilled labour drove the drastic increase in skill premium. Similarly, different theories have been proposed for the changes in relative prices and consumption as caused by globalization. But the most widely accepted conclusion is that globalization has contributed largely to inequalities in developing nations. Better opportunities in more developed countries, coupled with the possibility of easy travel, have lead to a lot of educated people being lured away from developing countries. Globalisation Essay: Globalisation and cultural boundaries In addition, globalization has resulted in the loss of cultural boundaries. In this wise, it has caused the extinction of several languages in many developing nations. The way languages are going extinct is very rapid, and this has been predicted to continue unless something can be done to stop the complex process of globalization Cronin The enhanced interaction of western cultures with local cultures in the developing world has led to melting of previously existing cultural barriers so that the individuality of the local cultures begin to fade. The increase in international travel has also contributed to this as the World Health Organization estimates that approximately , people are in airplanes at any one point in time The Guardian 28 April , p. Also, the adoption of multiculturalism coupled with the melting of international barriers and easy spread of propaganda through the internet has led to youths of developing nations imbibing extremist ideas, causing their being used by terrorists in suicide attacks, as is occurring in many developing nations such as Somalia, Sudan, Tunisia, Egypt, etc. The encouragement of free trade zones in developing countries in a bid to woo foreign investors has resulted in negative effects. Developed countries have been forced to reduce their prices in order to remain competitive against countries such as China which can produce the same goods for a fraction of the cost. Globalization has also changed the job market, and now jobs in the global economy are more insecure and temporary. This has mostly affected developed countries where companies can outsource some of their processes, especially manufacturing but increasingly also functions such as customer support. As a result, many people in the western part of the world are losing their jobs. Globalization has pervaded cultures, too. Some claim that it has caused a loss of cultural boundaries. The increased interaction of western cultures with local cultures in developing countries has led to the melting of previously existing cultural barriers.

These trade agreements have been designed to promote and sustain globalization by preventing barriers that inhibit trade among nations or regions.