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Introduction To Globalization
Introduction To Globalization
Globalization
Globalization
Has been a buzzword throughout the world since
early 19th century
Popularized through former Harvard Business
School Professor Theodore Levitt’s article entitled
“ The Globalization of Markets”
Refers to the existence of free exchange of
goods, services, culture, and even people,
between and among countries.
NECESSARY
IMPLICATIONS
Countries have discarded taxes on imported
goods (tariffs) and opened their doors to highly
skilled workers and professionals.
People became more interested to travel, learn
new languages, and immerse themselves into
new cultures and lifestyles.
Caused the increase number of McDonald’s and
Jollibee outlets across the globe.
Note:
Globalization has transcended its being an
economic term and has become a phenomenon
whose impacts have altered social, cultural, and
political landscapes in an international scale.
It has spurred interconnection, and yet, at the
same time, is pointed at as the cause of the
widening gap between the richest and the
poorest of the world .
COMPETING CONCEPTIONS OF
GLOBALIZATION
A “contested concept”
Manfred Steger remarks that since its
earliest appearance in the 1960s, the term
‘globalization’ has been used in both
popular and academic literature to describe
a process, a condition, as system, a force,
and an age.
The United Nations Conference on Trade and
Development (UNCTAD) defines economic
globalization as the “closer integration of
national economies through trade and financial
flows as well as cross-border migration of
people”.
As national economies ‘open up” and lower their
external barriers, they become more exposed-and
more vulnerable-to global forces and influences.
The definition cited earlier covers the
European Union calls as the “four
freedoms”.
Free movement of goods or
products, services, capital or
investment, and persons.
Free movement of goods or products is
facilitated by liberalization or the abolition of tax
on imported goods (tariff), while the free
movement of capital or investment is
implemented through deregulation or the lifting
of strict banking and financial regulations aimed at
encouraging investors to invest more and retain
their ability to pull out their investments at any
time with ease.
Free movement of persons is achieved through the
loosening or abolition of visa restrictions and barriers
to migration.
Usual Definition:
usually refers to the integration of the national
markets to a wider global market signified by the
increased free trade.
Manfred Steger on Globalization: