Essays On Globalization And Culture
Domestic companies who wish to survive 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 more efficient markets and stabilized security. 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 for their goods and services.
Because countries have always been interdependent, we cannot reverse the process of globalization. When we talk about globalization, many people don’t seem to realize is that it’s not actually a man-made phenomenon but rather we evolved into these conditions.
Because countries have always been interdependent, we cannot reverse the process of globalization.
But not everyone agrees with the positive impact of globalization.
These have created new companies, jobs, and sources of income.Globalization has affected people and communities across the globe and it has become a controversial issue that is widely debated in the public sphere.Depending on the interpretation of this phenomena, some historians argue that at least some form of globalization has been in existence since the trading between Sumer and the Indus Valley Civilization during the Bronze Age in the 3rd millennium BC.If we look at the positive effects of globalization, there are four main benefits that it has brought us, and many people tend to take them for granted.Main benefits of globalization: The current level of competition in the market is one obvious result of globalization.This mainly concerns companies that have moved their production to cheaper countries, a phenomenon that has resulted in a negative impact on employment in developed countries.The question that arises is whether the benefits outweigh these disadvantages.Globalization is considered to enrich the world both culturally and scientifically as well as benefit most people economically.The United Nations has gone as far as to predict that this process may have the power to eliminate poverty in the 21st century.If we adopt a stricter definition of the concept, globalization started in the 15th century when Portugal and Castile sent the first exploratory voyages to the Cape of Good Hope and the Americas.The history of globalization can thus be divided into three periods: Today, it has become a buzzword with mostly positive connotations such as the increase in the exchange of knowledge, trade, and capital around the globe that are driven by technological innovations such as shipping containers and more recently the internet.