STRUCTURES

OF
GLOBALIZATION
 Globalization is the process by which
ideas, knowledge, information, goods,
and services spread around the
WHAT IS
world.
In business, the term is used in an GLOBALIZATIO
economic context to describe N
integrated economies marked by ?
free trade, the free flow of capital
among countries, and easy access
to foreign resources, including labor
markets,
ma ximize returns andtobenefit for
the c ommon
good.
 ELEMENTS OF
ECONOMIC
GLOBALIZATIO
N
-Academic literature commonly
subdivides globalization into three major
areas:
Economic Globalization
Cultural/ Social
Globalization Political
Globalizatiom
 Economic Globalization
ECONOMIC primarily

GLOBALIZATIO comprises the globalization of:

N 1.Production
It refers to the widesprea d
2.Finance
international movements of
goods, capital, services 3.Markets
technology, and
information. 4.Technology
Economic Globalization is 5.Regimes
one most often mentioned
in the media. 6.Organizational
It is associated with massive
7.Institutions
amounts of financially traded 8.Corporations
daily on the different stock
markets around the label "NEW 9.Labour
 ECONOMIC
GLOBALIZATIO
N
In order
economic
to monitor the economy, 3
institutions were
3. The Genera l
created.
Agreement on Tarrifs
and Trade (
1. The International 2. The Interna tiona l Ba nk renamed, of the
Monetary Fund (IMF) for Reconstruction and WORLD TRADE
- would oversee Development (IBRD) later ORGANIZATION in
the
international monetary named WORLD BANK ( W B ) 1992) - would oversee
system - multilateral trade
would provide loans for agreements.
European reconstruction but
later expanded its activities
 1.Migration - is a n im porta nt a spect of
cultura l globalization.
This process has been going on for several centuries,
CULTURA with languages, religious beliefs, and values being

GLOBALIZATIO
L
spread by military conquest, missionary work, and
trade.
N 2. Food - is the m ost obvious exa m ple of cultura l
globalization.
Food consumption is an important aspect of culture and
most societies around the world have diets that are
Refers to unique to them, however, the cultural globalization of
the
transmission of McDonald's,
food Coca-Cola
has been promoted and
by fast-food giants such as
ideas, Starbucks.
meanings, a n d values 3. Sport - is another fairly obvious example of
across
cultural globalization.
national All the international sporting events - most notably
boarders. the World Cup and the Olympics which binds
millions together in shared, truly global, leisure
 CULTURAL
GLOBALIZATIO
N
1.C onverging Global C onsum ption Patterns
Today you can go to pretty much any major city in the world and share in similar
'consumption experience.' More and more in Asia and South America are coming to enjoy a
high consumption lifestly.
2. Homogeneity
Comes into society in several ways- ethinically (Japanese), religiously (many Arabs), culturally
(Indians), pilitically (communisim)
The study has shown that the most prominant type of homogeneity is ethnicity, where
everybody shares similar physiological characteristics and cultural behavior.
3.Financial Hom ogeneity
It exists in many contries. It was prevalent in many communist countries - this type of
homogenous society is in decline now a day.
4. The Global Village/ Global Consciousness
Individuals and families are now more directly plugged into the nres from the outside world -
some
of the most gripping events of the past decade have unfolded in real-time in front of
CULTURAL
GLOBALIZATIO
N
DETRADITIONALISATION - In his classic 1999 text, Runaway World, Anthony Giddens argues that one
consequence of globalization is detraditionalization - where people question their traditional beliefs
about religion, marriage, gender roles and so on.
GLOBAL RISK CONSCIOUSNESS- Ulrich Beck (1992) argues that a fundamental feature of globalization is
the development of a global risk consciousness, which emerged due to shared global problems which
threaten people in multiple countries.
Examples:
Threat of terrorism
International nuclear war
The threat of global cs
pandemi
The rise of organized crimes primarily through internatio al drrug
funded n trafficking
The threat of planetary melt-down due to global g
warnin
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