Globalization |globalization meaning | cultural globalization | global financial crisis |


In the second half of the 20th century, a period of radical change began in the international political and economic system. The end of the Cold War, the disintegration of the Soviet Union, the end of communism from Eastern Europe, the unification of Germany and the emerging monopolar world order pushed the world towards the 'New World Order'. There was a demand for a 'new international economic order'. Slogans like globalization, economic liberalization, privatization, market oriented economy, corporatization, competitive and open economy started resonating. The importance of financial and business institutions of international nature began to increase.

 Globalization or Globalization: Meaning

 Globalization is the internationalization of business activities, especially marketing activities, in which the entire world market is seen as a single area. In other words, globalization is the process in which interdependence arises between world markets and trade moves towards exploiting the comparative cost advantage conditions inherent in world trade without being restricted within country borders.
 Globalization (Globalization) is that process of uniformity and homogeneity in which the whole world shrinks and becomes one. Globalization is the association of a country's industries with international corporations or multinational corporations that transact goods in other countries outside the borders of one country. According to some scholars, the concept of considering the whole world as a global village is globalization or globalization. usually include the following

 Elements include:

 1. Reducing trade barriers to make it possible to exchange various goods without any barrier in different countries of the world.

 2. Suitable to enable smooth flow of modern technology

 Creating an environment

 3. Necessary to make possible the free flow of capital among different nations

 Creating circumstances

 4. To make possible the smooth flow of labor in different countries of the world.

 Globalization refers to the integration of open market and competitive national economies with the world economy to convert national markets into international markets. In other words, it can be termed as the process of integration of the national economy with the global economy.

 Globalization : Characteristics

 The emergence of 'globalization' was about 25 years ago by multinational corporations.
 It is found in the strikes of the U.S. and the conservative movement, which had gripped the Western world and whose leaders were Thatcher of Britain, Kohl's of Germany and Ronald Reagan of America. Multinational corporations and banks began to expand their footprints all over the world and broke the controls on capital and currency, raising the slogan of open doors for disinvestment and trade. He argued that free market would increase the rate of growth, development would reduce poverty and poverty reduction would help in the growth and strengthening of democracy. He created the 'World Trade Organization' and expected such a change in the role of the International Monetary Fund and the World Bank to pursue a 'market-oriented free economy'.

 so that they can advance the "Washington Consensus". Some of the features of globalization seem to suggest that we are moving towards the establishment of a new type of international political, economic and social order. These features are as follows:

 Due to the revolutionary development in the means of transport and communication, geographical distances have been reduced. Now not only the trade, technology and service sectors, but also the cross-border movement of people has become cheaper and easier. Computer and Internet are also connecting the world rapidly.

 The far reaching reach of electronic media has established a global culture. The culture of jeans, T-shirt fast-food, sin music, Hollywood movies and satellite television is the culture of today's youth, no matter where they come from in the world. Consumerism has also become a kind of culture of the whole world today. Not only this, the methods of committing corruption and crime have also become one in the whole world.

 The labor market has become global. In the year 1965, about 7 crore 50 lakh people had migrated from one country to another in terms of employment, whose number increased to 120 million by the year 1999. A number of systematic means should be created to meet the demands of the labor market.

 went. There are many brokers and agents active in labor exporting countries who get people to work abroad, both legally and illegally. In labor importing countries, there are networks of old migrants who guide and help new migrants in every way possible. Education has become globalized. In industrialized countries like America, most of the foreign students who go for higher education remain there. On the other hand, today the curriculum of educational institutions of many developing countries has also become world class, so that students studying here can get employment anywhere in the world.

 The movement of professionals that started with BrainDrain has gained a lot of momentum. Today scientists, doctors, engineers and educationists are being drawn towards foreign countries, as well as foreign movement of lawyers, architects, accountants, managers, bankers and computer experts etc.

 Multinational companies, through which the movement of goods, services, technology, capital etc. produced earlier, are done by these corporations by appointing specialists, managers, skilled semi-skilled workers etc. These appointed employees are posted in various branches of the corporation spread across the globe. In this way, this process also promotes labor flow.

 UNDP The "Human Development Report" mentions three agents of globalization: the first is the 'World Trade Organization', which maintains its domination and dominance over the national governments of the member countries. It is more than the total wealth and the third doer is the international non-governmental organizations, whose network is spread all over the world.These three together give their desired direction to globalization.

 Globalization and International Relations: In the context of international relations, international trade and international financial system, the following effects (results) of globalization are discussed:

 1. The role and importance of the United Nations Organization and its associated international financial and business institutions has increased.

 2. Such an international organization like 'World Trade Organization' was established, which has started playing the role of policeman in the field of world trade. To say that the World Trade Organization has been established to encourage international trade on the basis of multilateral principle, but the reality is that this organization is collectively and individually to dominate the economy, society and politics of developing countries. is the medium.

 3. Multinational corporations have got a free hand from globalization and multinational corporations are the carriers of the neo-colonial control of the rich nations over the poor nations.

 4. Opening the country's doors for international trade and international capital investment means providing poor countries and rich countries to drink water from the same ghat like goat and tiger, and in such friendship rich countries will profit from poor countries. . In the political sense, increasing participation in world trade means increasing dependence on rich countries, which ultimately leads to political dependence and paying a socio-political cost.

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