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       The earliest written theoretical
        concepts of globalization were
        penned by an American
        Charles Taze Russell who coined
        the term 'corporate giants' in
       Globalization was achieved by the
        British Empire due to its sheer
        size and power. British ideals and
        culture were imposed on other
        nations during this period.
       The 19th century is sometimes
        called "The First Era of
        Globalization." It was a period
        characterized by rapid growth in
        international trade and investment
        between the European imperial
        powers, their colonies, and the
        United States.
       The "First Era of Globalization"
        later collapsed during the gold
        standard crisis and Great
        Depression in the late 1920s and
        early 1930s.
             What is Globalization?
 Globalization describes a
  process by which regional
  economies, societies, and
  cultures have become
  integrated through a global
  network of communication,
  transportation, and trade.
 The term is sometimes used
  to refer specifically to
  economic globalization.
 The term can also refer to the
  transnational circulation of
  ideas, languages, or popular
  culture through acculturation.
 According to small business,
  globalization is the process by
  which the economies of
  countries around the world
  become increasingly
  integrated over time.
Post world war II
            Globalization, since World War II,
             is largely the result of planning by
             politicians to break down borders
             hampering trade to increase
             prosperity and interdependence
             thereby decreasing the chance of
             future war.
            Their work led to the Bretton
             Woods conference, an agreement
             by the world's leading politicians
             to lay down the framework for
             international commerce and
             finance, and the founding of
             several international institutions
             intended to oversee the processes
             of globalization.
            These institutions include the
             World Bank, IBRD, and the IMF.
            Globalization has been facilitated
             by advances in technology which
             have reduced the costs of trade,
             and trade negotiation rounds,
             originally under the auspices of
             the General Agreement on Tariffs
             and Trade (GATT), which led to a
             series of agreements to remove
             restrictions on free trade.
              Effects of Globalization
• Industrial - emergence of worldwide production markets and broader
    access to a range of foreign products for consumers and companies.
•   Financial - emergence of worldwide financial markets and better access
    to external financing for borrowers.
•   Economic - realization of a global common market, based on the freedom
    of exchange of goods and capital. The interconnectedness of these
    markets, however meant that an economic collapse in any one given
    country could not be contained.
•   Political - some use "globalization" to mean the creation of a world
    government which regulates the relationships among governments and
    guarantees the rights arising from social and economic globalization.
•   Ecological - the advent of global environmental challenges that might be
    solved with international cooperation. Since many factories are built in
    developing countries with less environmental regulation, globalism and
    free trade may increase pollution.
•   Cultural - growth of cross-cultural contacts; advent of new categories of
    consciousness and identities which embodies cultural diffusion, the desire
    to increase one's standard of living and enjoy foreign products and ideas,
    adopt new technology and practices, and participate in a "world culture".
   Looking specifically at economic
    globalization demonstrates that it
    can be measured in different ways.
    These center around the four main
    economic flows that characterize
o   Goods and services,
o   Labor/people,
o   Capital,
o   Technology.
   As globalization is not only an
    economic phenomenon, a
    multivariate approach to
    measuring globalization is the
    recent indexcalculated by the
    Swiss think tank KOF.
   According to the 2006 index,
    Singapore, Ireland, Switzerland,
    the Netherlands, Canada and
    Denmark are the most globalize,
    while Indonesia, India and Iran are
    the least globalize among
    countries listed.
       Supporters of free trade claim
        that globalization increases
        economic prosperity as well as
       This leads to lower prices,
        more employment, higher
        output and a higher standard
        of living for those in
        developing countries.
       Supporters of democratic
        globalization are sometimes
        called pro-globalists.
       They believe that the first
        phase of globalization, which
        was market-oriented, should
        be followed by a phase of
        building global political
        institutions representing the
        will of world citizens.
    Advantages And Disadvantages
          AVANTAGES                           DISADVATAGES
   Increased free trade between        Increased flow of skilled and
    nations                              non-skilled jobs from
                                         developed to developing
   Increased liquidity of capital       nations as corporations seek
    allowing investors in                out the cheapest labor
    developed nations to invest in
    developing nations                  Threat that control of world
                                         media by a handful of
   Corporations have greater            corporations will limit cultural
    flexibility to operate across        expression
                                        Greater chance of reactions
   Global mass media ties the           for globalization being violent
    world together                       in an attempt to preserve
   Greater ease and speed of            cultural heritage
    transportation for goods and        International bodies like the
    people                               WTO infringe on national and
   Greater interdependence of           individual sovereignty
    nation-states                       Increase in the chances of
   Reduction of likelihood of war       civil war within developing
    between developed nations            countries and open war
                                         between developing countries.
Made by- Sonali Chawla

   Class-XI A

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