Note taking (Globalisation)

From: Longman business English dictionary, published in London by Longman in 2000

 tendency for the world economy to work as one unit

 led by large international companies

1. ending of trade barriers

2. free movement of capital
3. use of electronic systems of communication increased causes for globalisation
4. cheap transport

From an article by David Ransome called Globalisation

Communication channels have contributed to the spread of a unified, mostly commercial culture.
The globe over, Disney movies are marketed to youngsters. Millions of new converts from the
bidonvilles of Abidjan, Côte d'Ivoire, to the affluent suburbs of Sydney are drawn by Barbie dolls,
fast food restaurants, hip-hop music, and corporate-driven, American-style youth culture. As an
alternative, a dizzying array of 'ethnic' foods, such as Thai, Szechwan, Mexican, and Indian, are
now available throughout Europe, North America, and Australia. In fact, a lot of people who live in
and travel to Britain think that globalization and the ensuing "fusion" of food is the best
development for English cooking in the last 500 years.
There is every reason to think that this flow of goods, services, ideas, plants, animals, and people
will continue into the future. Change cannot be stopped once it starts. And it is actually not so
horrible.

The no-nonsense guide to globalisation by Wayne Ellwood

Globalization = to the integration of the world economy
started five centuries ago with the beginning of the European colonial era
Globalisation is increasing inequality and poverty worldwide as national governments lose the
ability to control their development strategies and policies.
 Synthesis

Globalization is the increase in the flow of goods, services, capital, people, and ideas
across international boundaries. The globalization of the world economy entails
common standards and values; it can generate both global balance and imbalance
having both winners and losers. Failure to adapt to the globalization process brings
along a series of disadvantages that lead to poverty and economic crisis. Every
country must confront and adapt to this inevitable and irreversible process that is
globalization. According to Ransome {1997} new channels of communication have
helped spread a homogenous and largely commercial culture. Most of the foods that
we commonly eat today are the product of globalization, often trading and connections
that began centuries before the term came into use. Ransome {1997} also states that,
There is every reason to believe this global exchange of people, products, plants,
animals, technologies and ideas will continue into the future. the impact of
globalization on the life and work of people, on their families, and their societies.
Concerns and issues are often raised about the impact of globalization on
employment, working conditions, income and social protection. Beyond the world
of work, the social dimension encompasses security, culture and identity, inclusion
or exclusion and the cohesiveness of families and communities. gaps between rich
and poor are widening, decision-making power is concentrated in fewer and fewer
hands, local cultures are wiped out, biological diversity is destroyed, regional
tensions are increasing and the environment is nearing the point of collapse
Ransome {1997} . Globalisation also have an impact on world technology, economy
and politics. over the past quarter century with the explosion of computer
technology, the dismantling of trade barriers and the expanding political and
economic power of multinational corporations Ellwood{2001}.