What is Globalization kv Essay

Submitted By jeanneiv
Words: 473
Pages: 2

What is Globalization? There are many answers out there to this question; many see Globalization as a negative thing while others see it as something positive. Globalization is the increasingly ongoing global relationships of culture, people and economic activity and broadens the interdependencies amongst nations—their people, their firms, their organizations, and their governments. The process of Globalization is everywhere in today’s World and has been speeding up dramatically in the last two decades. The reason for such growth is due to many technological advances that make it easier for people to communicate. In today’s world one can be in California one day and then the next day on a business trip in Japan, these kinds of advances easily help people do business internationally. Telecommunications and the rise of the internet are both major driving forces for Globalization; nowadays the internet can be at ones fingertips 24/7. As telecommunication amongst the World increases, economies become more connected to other economies, this creates more opportunity but also more competition. Therefore globalization has become a very common feature of world economics that there are both fervent supporters and extreme opponents that have risen.
 The pro-globalization members claim that globalization creates better opportunities for everyone and with increased opportunity there comes increased competition. The fervent supporters believe that competition is a good thing because it can make production more efficient. Competition creates growth in the World, if businesses want to compete with each other they have to grow and do what they can to be better than the competition. The competition between businesses also lowers prices for consumers. Businesses that grow because of competition help the economy by creating jobs for many. Globalization also helps poor countries develop economically. The biggest pro globalization group is The World Trade Organization, it was set up to create a set of rules to govern global