Nabasca, Cherry Ann M.

BEED-II
EDUC 206
Chapter 2

Essay
Write a 3-paragraph essay reflecting your definition and description of globalization as a social, cultural, and
economic phenomenon.

Globalization is a social, cultural, political, and legal phenomenon. Socially, it leads to greater
interaction among various populations. It is the process of growth, development and expansion of every
business, service and technology in the world. This means that different companies will expand into global
markets around the world. Developing large multinational corporations for global economic integration
requires enormous international investment. It aims to increase business connectivity and interdependence in
the global market.
Cultural globalization contributes to the exchange of cultural values and the convergence of traditions
in different countries. Because cultural globalization has shown the fusion of business and consumer cultures
and the growth of international communication among the different countries of the world. Globalization is
associated with rapid and significant human change. The movement of people from rural to urban areas is
accelerating, and urban growth, especially in developing countries, means a sub-average life for many.
It is very hard to decide whether the revolution of global marketplace is beneficial or harmful to the
humanity. It is still a big confusion. However, it is also tough to ignore that globalization has created greater
opportunities to people worldwide. It has changed status and way of living of people in the society to a great
extent. It is hugely benefiting the developing nations by providing various developmental opportunities. If you
take it positively, you can eradicate regional diversity and establish a homogenized world culture. It is
supported by information technology and shows tremendous interaction and integration between businesses,
businesses, governments, and people from different countries. Globalization has had positive and negative
impacts on traditions, culture, political systems, economic development, lifestyles, wealth and more.