Globalization History Can Be Traced To Hellenistic Age Economics Essay

world(a)ization History Can Be Traced To Hellenistic Age Economics Essay globalisation refers to integration of regional societies, cultures and economies through reduction of state enforced limitations on rallys betwixt divergent countries thereby enhancing a global ne twork of sh be and communication. While globalization is operate by interaction of variant, economies, engineering, political factors and social cultures, the term is in roughly cases employ to refer to economic globalization where different countries economies become coordinated into an multinational economic system through a globe spanning network of calling, migration, opposed trade investments, technology and capital flows. globalisation besides involves transnational ex replace of ideas, langu get along withs and acculturation (Amin, 2004).globalization history discharge be traced from the Hellenistic age and the rise of cosmopolitan when technicalized urban centres of Greek culture interchan geable Athens, Antioch and Alexandria enhanced a colossal distribute of trade and commercial links. Globalization move with the colonization of Ameri earth-closets by Europeans which initiated the Columbian exchange enhancing a wide broadcast of crops, trade and human peoples and migration. Globalization however got its modern form in 19th century shaped by imperialism when industrialization brought ab break economies of master which made cheap production which was sustained by increased population demand. Its argued that the forces of globalization enhanced the world war (Barkema Drogendijk, 2007).Globalization as used by different economists and social scientists basin be traced back in 1960s and has inspired diverse and numerous definitions and understanding. Globalization and world(prenominal)ization ar interchangeably used the only distinction in the usage of the two terms is that multinationalization is more focused on international relations, trade and treaties whi ch are compulsive by childbed and capital mobility. Globalization as used in economic context refers to reduction and elimination of barriers between different countries economies in away that flow of goods and services capital and advertize is facilitated. Some of the things that slowdown globalization include countries political and capital policies which are inward looking and focused to protection of countries industries (Wood,1998).To enhance globalization microeconomics processes fatality to be focused on economic policies, political subjectivity, capital and opposite different dynamics and domains so as to denationalize what has been made national.Globalization is seen as a way of flattening the world into global system of trade, fork up chain and outsourcing and this has greatly and permanently changed countries economies, political forces both in a good and a naughtily way. The rate of globalization is change magnitude and continues to put up a rising impact on bus iness practice and commercial organization, giving a neo-liberal kind of international economic systems (Beall, 2004).Rapid blowup of transnational corporations in U.S and Europe has disposed rise to systematic abridge of economies growth and die dynamics which are the main drives of the quickening globalization which has stand the counter tendency changes and forces that emanate from trade union actions and political activities. Globalization has become an irreversible phenomenon whose long history in securities industry economic systems has given rise to transnational elites and political globalization which has phased out the traditional form of roleful-nation states, globalization has given rise to heathen and ideologic homogenization ecumenical coup conduct with significant inventions. Globalization has largely been driven by political planning which has seen a breakdown of trade borders and increasing interdependence of states through international commerce and trade an d the establishment of international institutions to manage the globalization process. These institutions include the World Bank (formerly known as bank for multinational Reconstruction and Development), World craftsmanship Organization and International Monetary Fund. Advanced Technology has greatly reduced the trade and dialog cost through agreed trade tariffs which produce seen the possibility of assoil trade among different countries (Ostry, 1998). Some of the actions involved in the General organisation on Trade Tariffs include elimination of trade tariffs creating alleviate trade zones, lowering the transportation costs and enhancing containerization which has made Ocean hipping in different countries possible, introduction of harmonized trade subsidies globally which has attracted different corporations in the international market. Increased restrictions in the harmonized sharp property laws rush also seen a great breakthrough for clear trade much(prenominal) that intellectual properties and patents are recognized across states. Trade treaties enhanced by the WTO deal the Uruguay Round which has introduced a uniform trading platform, other multilateral and zygomorphic agreements on trade like North America Free Trade Agreement (NAFTA) begin greatly reduced the trade tariffs and barriers and enhanced free trade and given a rise in world exports and the core gross world product (Lazear, 1999).Advanced communication technology winding pone and other computer software technology revolve among countries which have made communication cheap and possible among countries, and planetary marketing has greatly driven ethnical globalization with western American culture tyrannic most regions in expense of the traditional diversity. The contrasting trend guide by movements in protest to globalization has not given any(prenominal) fruits in its defence for local individuality uniqueness and identity (Yeung, 2002). fit in to Rothstein (2005), seve ral(a) economic characteristics of globalization like capital, labour, technology and exports and imports, we can comfortably measure globalization if we take it as economic globalization. Exports and imports can be determined as a proportion gross national income eon labour can be determined as net migration grade flow weighted by population inward and outward flow. inmost and outward capital flow can be determined through investment as a proportion of per capital income while technology can be measured in terms of world(a) enquiry as well as development flows and the rates of change famed through inventions that has given new products in holler, motor vehicle and broadband industries (Knaude, 2001).However globalization is not economic phenomenon only and therefore requires a multivariate approach in taking its measurement. Swiss index has taken into consideration three key dimensions of globalization as political, economic and cultural effects taking rough sub-indices l ike economic flows and restrictions, personal meeting data, information flow and cultural proximity data which are acquirable on annual basis. According to the Swiss index, Belgium is the most globalized country worldwide followed by Austria and Sweden while United Kingdom comes fourth followed by Netherlands (Agell, 1999). The indication has shown that Haiti is the least globalized countries followed by Myanmar and Burundi.Globalization has given forth to good and bad feelings which have affected countries in different ways. Movement of production materials and fabricate goods has given rise to emergence of worldwide markets and given consumers and firms a broader get at to foreign products. The trade between China and Africa particularly has rise cardinal times fro the period between 2000 and 2007. Emergence of international fiscal markets has given customers worldwide access to external finance. This has however grown fast than the transnational regulatory regime and given rise to instability in the worldwide financial infrastructure as evidenced by the current financial crisis (Mishkin, 2009). Realization of a worldwide market where goods and capital are free exchange has a great economic realization while its interconnection would give great effects in case of one parsimoniousness collapsing. For instance, every worldwide IT company has established its market in India, if Indias economy collapses this would have the adverse effects spread amongst many other economies (Buckley Ghauri, 2004).Globalization has greatly affected the wellness systems on a global casing where health has became a trade commodity especially in growing nations pastime the structural adjustment programs which have seen the health sector privatized and the health policy largely fragmented collectible to discordant private interests which have focused on partnerships as a way to fight the various problems instead of a comprehensive health strategy. Health policy has gr eatly been affected by the global trade and economy driven by the technological advancement which has given innovative medical care trade. At time the global priorities have run oer the nation health care priorities making the health infrastructure more valuable to ordinary the privatized form of health care which largely focuses on the squiffy (Dunning, 1998).Globalization has led to creation of governments with relaxed relationships and guaranteed social and economic rights. United State has over time taken a powerful aim following its unshakable and wealthy economy. The republic of China has experienced rapid growth following globalization and with support from the United States. Economists have projected that if Chinas growth is retained at that rate, this would bring a great change world wide in the next twenty years since it will mean power reallocation among world belongers with China being one of the wealthy and industrialized nations and this will rival the United Sta tes worldwide powerful position (Jones, 2008).Increased Informational flow between different geographical locations has brought technological change with the introduction of fibre optic communications and improved accessibility via telephone and Internet facility. Globalization has also increased competition due to worldwide market which has challenged different companies and industries to improve their products and skilfully use technology. Globalization has brought various ecological changes and environmental challenges due to cross boundary contamination of water system and air and the overfishing of oceans as well as spread species which are invasive. This can be face out through international cooperation, but its observe that most factories run their plants in developing nations where environmental regulations are lenient. As such globalization and free trade has largely increased pollution in these countries and deteriorated peoples standard of living. The world ecological capacity has proved meagerly to handle the ambitions of China, U.S, and Europe among other countries sustainably. Also globalization would bring approximately depletion of resources like zinc, terbium and indium, if U.S, China and India continue with the current consumption this would lead to conflict over diminishing natural-resources (Casson, 1996).One classic cultural aspect of globalization is food consumption whereby people in China can be consuming American food while those in Africa can be consuming Italian meals. McDonalds is one of the American food companies with a global network of 31,000 locations worldwide and has had great cultural influence globally. In addition to international travel, migration and tourism internet has broken down cultural borders worldwide through enabling interaction and communication among people from different state, thus sharing different actionstyles and cultures even beyond the language barriers by use of photo sharing websites. Globalizat ion has led to spread of multiculturalism where just about come local cultures have been assimilated and others have been supplanted (Taylor, 2008).Globalization has however faced significant opposition internationally arguing that it has lowered the quality of life and increased the environmental degradation by reducing the competitiveness of some countries industries, and perhaps agriculture in nations that have not yet satisfactory to the changes brought by globalization (Daryl, 2009). The flow of information, products and people across countries has led to spread of deadliest affections like HIV/Aids which still remain a sort out cause of death especially in Asia and Africa while the infectious disease actually began in America. Also, globalization played vital role in the recent bird flue which spread to different nations and killed several. Other diseases whose spread has been fuelled by globalization include the chagas disease and tuberculosis (Bernstein Cashore, 2000).G lobalization has created opportunities in developed and rich nations thereby driving talent from poor countries which has led to brain drains. This has cost Africa continent approximately $4.1 billion expatriate professionals yearly. Globalization negative economic liberalization effects are also manifested by the global financial crisis which has been as a result of interconnected states forming global economic system such as the crumple of subprime financial or mortgage market in U.S. The flow of products like televisions, textiles and others in the U.S have fueled expansion of Asian economies but has as well increase great criticism against Chinese textile products in Europe as well as in African countries (Levy-Livermore, 1999). For instance, the influx of Chinese textile goods in South Africa has led to loss of jobs by textile workers in that industry.Different studies show that, globalization has not fought Income disparity and food insecurity such that the three richest pe ople worldwide owns more financial assets than what 10% of the poorest world population possess. For example, in sub-Saharan basin Africa communities continue to delay in extreme poverty with studies indicating that almost half of children population in India is undernourished. Globalization opens door for a poor country to reach international market, and as such large corporations have taken advantage of such economies to facilitate export poverty such that they invest in these nations due to low wage rates and if the countries labour laws are changed in party favour of employees the corporations close down and relocate to other countries with conservative economic policies (Zander Mathews, 2007).In conclusion, critics argue that globalization has led most poor countries suffer disadvantages since their exports are mainly agricultural products and they are unable to offer their producers subsidies which are enjoyed in the developed nations thereby lowering the prices for poor pr oducers. Globalization also leads to using of workers who are impoverished in these poor countries through cheap labour and weak labour unions (Taylor, 2008). Globalization is mediated depending of corporate interests which results to alternative institutional policies that address moral claims for both the poor and working population and environmental concerns in an equitable way.