Globalisation is a process by which different parts of the globe become interconnected by economic, social, cultural, and political means.

Effects of globalization:
It makes possible that the information flow between geographically remote locations, the global common market has a freedom of exchange of goods and capital and that worldwide production markets emerge. Also it allows free circulation of people of different nations leads to social benefits, but it produces global environmental problems like cross-boundary pollution, over fishing on oceans, climate changes are solved by discussions .

The globalisation is important beacuse it allows that more transborder data flow using communication satellites, the Internet, wireless telephones etc.

The standards applied globally like patents, copyright laws and world trade agreements have increased in the last few years. Also the corporate, national and subnational borrowers have a better access to external finance.

The globalisation promotes the multiculturalism and increases international travel tourism. Nowadays the local consumer products are exported to other countries and the immigration between countries increases. There is an increase in the desire to use foreign ideas and products, adopt new practices and technologies and be a part of world culture.

Advantages of Globalization:
with the creation of new transportations systems, goods and people are transported with more easiness and speed. Also the possibility of war between the developed countries has decreased. The globalisation promote the increase of free trade between countries.

It allows global mass media connects all the people in the world. it process has reduced the cultural barriers, there is a propagation of democratic ideals, the interdependence of the nation-states have increased and developed countries can invest in developing ones.

The flexibility of corporations to operate across borders increases, the communication between the individuals and corporations in the world increases and the environmental protection in developed countries has increased

Advantages of globalization in the developing world:

It is claimed that globalization increases the economic prosperity and opportunity in the developing world. The civil liberties are enhanced and there is a more efficient use of resources. All the countries involved in the free trade are at a profit. As a result, there are lower prices, more employment and a better standard of life in these developing nations. It’s feared that some developing regions progress at the expense of other developed regions. However, such doubts are futile as globalization is a positive-sum chance in which the skills and technologies enable to increase the living standards throughout the world.

Disadvantages of globalisation:

Globalization has led to the exploitation of labor
. After globalization has increased the crimes because It has helped the terrorists have access to internet then they upload important information that after they utilize for hacking into the bank counts.

With gobalization, the people have prefered to buy products from multinational companies while the local market has decreased. It process has made the rich, richer, and the poor are becoming poorer and international corporations have caused pollution in countries around the world.

Second Beijing:

1) Street Interviews asking people to define globalization.

2) A technical definition of globalization.

3) Interviews on the effect of globalization on individuals. 4) Interviews on how globalization has affected small and local businesses.

Globalisation Glossary:
  • Globalisation: is a global movement to increase the flow of goods, services, people, real capital, and money across national borders in order to create a more integrated and interdependent world economy.
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  • Global Economy: is the international network of individuals, businesses, governments, and multilateral organizations which collectively make production and consumption decisions.
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  • Technology: is the use of scientific knowledge to solve practical problems, especially in industry and commerce.

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  • Trade liberalization: is the removal of government incentives and restrictions from trade between nations.

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