Globalization

What is Globalization ?
• Globalization can be defined as a process of rapid
economic, cultural, and institutional integration among
countries
• This unification is driven by the liberalization of trade,
investment and capital flow, technological advances, and
pressures for assimilation towards international standards.
• Globalization makes the world more accessible to
everyone
Brief History of Globalization
• Globalization is an historical process that began with
the first movement of people out of Africa into other
parts of the world. Traveling short or long distances,
migrants, merchants and others have delivered their
ideas, customs and products to new lands. The
melding, borrowing and adaptation of outside
influences are found in many areas of human life.
 Types of
Globalization
Economic
Social
Political
Cause of Globalization

Trade liberalization
Improvements in technology
Reduced cost/improvement of communications and
transportation
Deregulation of financial markets
Increased significance of TNCs (transnational corporations)
Advantages of Globalization
Employment
Product quality
Cheaper Prices
Transportation
Free Trade
Travel and tourism
External borrowing
Disadvantages of Globalization
Health Issues
Loss of Culture
Uneven Wealth Distribution
Environment Degradation
Disparity