Paragraph on Globalization ~ Ofuran

Paragraph on Globalization


Globalization refers to increasing global connectivity, integration and interdependence in the economic, social, technological, cultural, political, and ecological spheres. The Encyclopedia Britannica says that globalization is the "process by which the experience of everyday life ... is becoming standardized around the world." Globalization is an umbrella term and is perhaps best understood as a unitary process inclusive of many subprocesses; such as enhanced economic interdependence, increased cultural influence, rapid advances in communication, transportation and information technology, and novel governance and geopolitical challenges; that are increasingly binding people and the biosphere more tightly into one global system with one destiny. It describes the growing economic, political, ecological, technological, and cultural linkages that connect individuals, communities, businesses, and governments around the world. Some of the trends that globalization has become identified with include: greater international cultural exchange, greater international movement of commodities, money, information, and people; and the development of technology, organizations, legal systems, and infrastructures, technical/legal, promotion of free trade and intellectual property restrictions that lead to lower prices, more employment and higher output. Distant events often have an immediate and significant impact, blurring the boundaries of our personal worlds, as people around the globe are culturally, materially, and psychologically interlinked. But globalization has both positive and negative aspects. Among globalization’s benefits are a sharing of basic knowledge, technology, investments, resources, and ethical values. Among the negative aspects are the rapid spread of diseases, illicit drugs, crime, terrorism, and uncontrolled migration. The debate over globalization also focuses in particular on how it can be regulated to address growing income and wealth inequalities, labour rights, health and environmental problems, and issues regarding cultural diversity and national sovereignty. But if the IMF, WTO, and UN play proper role through constraining the autonomy of the richer countries in the economic, political, and environmental decisions to reduce global repercussions for balancing social and cultural values with the need for economic efficiency, globalization could have a far-reaching positive impact especially on the developing and poorer countries like ours.