What is it and how does it affect the world around us?
What is Globalization?
An overarching definition could be that globalization is the international exchange of ideas such as culture, technology and business.
Cultural: It might mean sitting in your living room in Estonia while communicating with a friend in Zimbabwe. It might mean taking a Bollywood dance class in London. Or it might be symbolized in eating Ecuadorian bananas in the European union. (World Bank for Schools)
Economic: Globalization is a process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications (Collins Dictionary)
Technological: Social interconnectivity has grown over time thanks to the spread of 'universal' connections such as mobile phones, the internet and e-mail.
Environmental: Special interest groups of countries meet regularly to discuss global concerns such as the economy and the environment (climate change and the credit crunch being two of today's major issues)
Problems of Globalization
Cultural: Americanization of the world is one issue, as well as the how many people are seeing other cultures and traditions. In every third-world country there is bound to be a McDonald's of some kind, which we all know is an American company. Other American products such as but not limited to Coke, Nike, KFC have also affected the world. This causes their culture and tradiotns to become more similar to the way American's
Economic: Outsourcing is just one problem of this category. Firstly, regulations in countries that the work is outsourced to are far less strict than U.S. or Europe. The U.S. unemployment is rising above 10% so the idea of cutting American jobs and shipping them abroad is a very ineffective way of improving our economy.
How do we fix this..?
Solutions of Globalization