Definition and characteristics of globalization.
Definition and characteristics of globalization.
Discuss the definition and characteristics of globalization.
What is globalization?
What are the features of globalization?
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Definition of Globalization :-
Concept of Globalization :-
What is Globalization?
Although the word Globalization has been used recently, there is no universal definition of globalization. According to Joseph Stiglitz, globalization is the closer integration of nations and peoples around the world that has dramatically reduced the cost of transportation and communication and overcomes artificial barriers to the free movement of goods, services, capital, knowledge, and even people's rights around the world.
In the book '' The Globalization of World Politics '' , edited by John Bayliss, Patricia, Steve Smith, it is said that globalization is generally understood in five ways around the world. These are –
(A) Internationalization – which increases interdependence by removing barriers of nations.
(B) Liberalization – the creation of an open, integrated world economy by removing government control over all material aspects of the country.
(C) Universal – Its effect on people in all parts of the world is ubiquitous and universal.
(D) Westernization – Commercial and cultural invasion of developed countries predominantly affecting developing countries.
(E) Border Deregulation – Ease of travel across borders by reducing strict measures regarding state borders.
Therefore, globalization is the effect and reaction of free commercial, cultural, social and political communication, mutual exchange, market economy etc. of people from different parts of the world, from different parts of the world.
Characteristics of Globalization:-
Features of Globalization :-
Globalization has several essential and fundamental features. Some of the notable ones are –
1. Establishing solidarity among different states:- Globalization seeks to foster closer integration among different states. In the modern world, it is not possible for any state to conduct national and international politics in isolation. Globalization seeks to create a common link between states by highlighting this reality.
2. Interdependence:- Globalization very consciously favors the creation of an environment of interdependence among different states across the world irrespective of developed and developing countries. According to Noam Chomsky, the purpose of globalization is to strengthen interdependence by establishing active cooperation among all the states of the world.
3. Establishing dominance of multinational corporations:- One of the characteristics of globalization is to ensure the dominance of multinational corporations or the corporate world in the international arena. Researchers of international relations think that in the current world, the role of corporate organizations as well as the state has been established in the international field.
4. Free movement of capital and technology:- One of the most important features of globalization is the free movement of capital and technology in the modern world. In the age of globalization, capital, technology and technical inventions are not confined within the geographical boundaries of any one country. The free movement of world trade has made this easier.
5. Establishment of free market economy:- A major feature of globalization is the free market economy. Globalization seeks to free markets around the world from state control. In the context of globalization, it is believed that state intervention in the field of trade is completely unacceptable.
6. Change in classic features of sovereignty of the state:- Change in the classic features of sovereign power of states is considered one of the hallmarks of globalization. In early days it was believed that the omnipotence of sovereign power of the state by which a state has unlimited or ultimate power over external affairs. But globalization defies that. In today's era of globalization, no state has ultimate sovereign power in external affairs. In this modern world of mutual dependence, as a member of the New World System, all countries, big and small, have to follow the principles and directives of important international organizations like the World Trade Organization (WTO) in the field of trade.
7. Incredible advancements in information technology:- One of the hallmarks of globalization is the tremendous advancement in the field of information technology. In the era of globalization, the rules and regulations of a nation cannot create any obstacles in the free movement of information technology including the Internet. Experts of international politics think that globalization is trying to build a new world system of one nation, one world, erasing the borders of the nation state through the Internet revolution by making incredible improvements in information technology.
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