Globalization, also known as globalization (Commonwealth English; note spelling variations), is the process of international interaction and integration between individuals, organizations, and governments. The term globalization originated in the early 20th century, replacing the older French term mondialization.
It took some time for the term to take on its current meaning, and the term gained popularity in the 1990s as a way to characterize the extraordinary level of interconnectedness that characterizes the post-Cold War world
.(Source: ) The evolution of communications and transportation technologies in the 18th and 19th centuries can be used to pinpoint its beginnings. The expansion of international trade and the sharing of ideas, values, and cultures are direct results of these increased global exchanges. In its main form, globalization is an economic process of integration and interaction linked to social .
Globalization affects products, services, information, technology, and financial resources from an economic standpoint.[2] The opening up of international markets promotes the financial and commercial interchange of goods. Global market formation is now more viable because to the removal of trade restrictions across borders.[3]
Developments in telecommunication infrastructure, such as the telegraph, the Internet, mobile phones, and smartphones, and advancements in transportation, such as the steam locomotive, steamship, jet engine, and container ships, have been key drivers of globalization and have increased the interdependence of economic and cultural activities worldwide.
Etymology and usage 0f Globalization
As early as the 1930s, the term “globalization” was used in English, but it was limited to discussions of education and did not catch on. The word was occasionally employed, although without definition, by other academics and the media during the ensuing few decades.(Source: )
French economist François Perroux coined the phrase mondialization (literary worldization), also translated as mundialization, in his essays from the early 1960s, which was one of the first uses of the term in a meaning matching the later, mainstream usage.(Source: ) Many people believe that Theodore Levitt popularized the word and introduced it to the business community in the middle of the 1980s.(Source)
Globalization can be defined as the broadening, intensifying, and accelerating of interconnectedness on a worldwide scale, however this definition is inherently incomplete. .. On a continuum with the local, national, and regional is where globalization can exist. Social and economic networks and relations that are structured at the local, state, or federal levels are found at one end of the continuum, while those that are organized at the larger scale of regional and international interactions are found at the other
. Globalization is the term used to describe the spatial-temporal processes of change that connect and expand human activity across areas and continents, so underlying a transition in the organization of human activities.
The idea of globalization, according to James and Steger, “emerged from the intersection of four interrelated sets of ‘communities of practice’ (Wenger, 1998): academics, journalists, publishers/editors, and librarians.”424 [1]
The phrase was employed “in education to describe the global life of the mind,” “in international relations to describe the extension of the European Common Market,” and “in journalism to describe how the American Negro and his problem are taking on a global significance,” according to the statement.(Source: )
Additionally, they contend that there are four distinct types of globalization that both overlap and supplement the purely empirical dimensions.20]21] James claims that human mobility, or embodied globalization, is the most ancient and prevalent type of globalization. Agency-extended globalization, or the movement of agents from various institutions, is a second type.
History of Globalization
Archaic
Conventionally, the term “archaic globalization” refers to a period of globalization’s history that spans from the earliest civilizations to about the 1600s, encompassing globalizing events and developments. This phrase refers to the connections that exist between states and communities, as well as how ideas and social norms at the local and regional levels propagate geographically.(31 )
Three primary requirements are listed in this schema in order for globalization to take place. The first is the notion of Eastern Origins, which demonstrates how states in the West have adopted and applied lessons gained from the East.(31 ) Western globalization would not have arisen in the manner that it did if traditional Eastern concepts had not been disseminated. States did not engage on a worldwide basis.
Early globalization made it challenging for states to communicate with distant parties. Technology eventually made it possible for governments to discover one another’s existence, opening the door to yet another stage of globalization. The third relates to regularity, stability, and interdependency. There can be no mutual influence between two states if they are not dependent on one another.
One of the main drivers behind international trade and connections is this; without either, globalization would not have developed as it did, and governments would still need to rely on their own resources and production in order to function. One argument in favor of the theory of early globalization is this one. Some contend that prehistoric globalization was ineffective.
Early modern
A phase of the history of globalization known as “early modern” or “proto-globalization” roughly spans the years 1600–1800. The historians Christopher Bayly and A. G. Hopkins established the idea of “proto-globalization” initially. The word refers to the growing commerce and cultural interchange phase that defined the years just before high “modern globalization” emerged in the late 19th century.36]
The establishment of maritime European empires in the 15th and 17th centuries—first the Portuguese Empire (1415), then the Spanish Empire (1492), and finally the Dutch and British Empires—was a defining feature of this age of globalization.
World trade expanded during the 17th century with the establishment of chartered corporations such as the British East India Company (established in 1600) and the Dutch East India Company.
Historians Dennis Flynn and Arturo Giraldez offered a different perspective, arguing that the first circumnavigation of the earth by the Magellan-Elcano voyage marked the beginning of globalization and before the development of the world’s silver trade.37]
The degree of information sharing, the management strategy for international trade, and expansionism set early modern globalization apart from modern globalization. The Thirty Years’ War and other large-scale conflicts between powerful states, the shift of predominance to Western Europe, and the desire for commodities—most notably slaves—mark this time. Europe was able to benefit from Western Hemisphere resources thanks to the triangular trade.
Modern
Because of the Industrial Revolution, globalization began to take shape in the 19th century. While fast population growth provided a sustained demand for goods, industrialization allowed for the standardization of production of household items through economies of scale. In the 19th century, railroads made domestic transportation more affordable and steamships drastically lowered the cost of international shipping.
There was a revolution in transportation at some point between 1820 and 1850.[/30] International trade was accepted by more countries.[/30] During this time, imperialism throughout the nineteenth century, particularly in Asia and Africa, had a significant influence on globalization. The globalization of commerce was aided by the 1956 creation of shipping containers.(40)(41)
Following World War II, political efforts resulted in the Bretton Woods Conference agreements, wherein leading nations established the foundation for global finance, trade, and monetary policy. Additionally, a number of international organizations aimed at promoting economic expansion through the reduction of trade barriers were established. Originally, a number of agreements to lift trade restrictions were produced under the General Agreement on Tariffs and Trade (GATT).
The World Trade Organization (WTO), which replaced the GATT, offered a framework for formalizing trade agreements and a procedure for resolving disputes. From making up 8.5% of the global gross product in 1970 to 16.2% in 2001, exports nearly doubled.42] With the collapse of the Doha Development Round of trade negotiations, the strategy of leveraging international accords to promote trade faltered.
Economic globalization
The growing economic interdependence of national economies worldwide due to a sharp rise in the cross-border movement of capital, products, services, and technology is known as economic globalization.In [58] Economic globalization is the process of increasing economic integration between nations, which results in the emergence of a global marketplace or single world market. In contrast, business globalization is focused on the reduction of international trade regulations as well as tariffs, taxes, and other barriers that suppress global trade.
In [59] Economic globalization can be seen as either a good or bad thing, depending on the paradigm. Globalization of production, which is the process of obtaining goods and services from a specific source located throughout the world in order to take advantage of differences in cost and quality, is one component of economic globalization.
The current developments in globalization can be mostly attributed to the integration of industrialized economies with less developed ones through immigration, trade barrier reduction, and other economic reforms, as well as foreign direct investment.(61)
The efficiency of trade in products and services has increased due to international norms. The intermodal container is one instance of such a standard. Globalization was greatly aided by containerization, which also significantly decreased shipping costs and contributed to the post-war boom in international trade.(40) The International Organization for Standardization, which is made up of delegates from several national standards organizations, sets international standards.
An organization that owns or manages the production of goods or services in one or more nations other than its own is referred to as a multinational corporation, or worldwide enterprise, [62].
Cultural globalization
The term “cultural globalization” describes the process of ideas, meanings, and values spreading throughout the world in order to deepen and expand social ties.(70) The widespread consumption of cultures that have been disseminated through the Internet, popular culture media, and worldwide travel characterizes this trend. This has contributed to colonialism and commodity exchange activities, which have a longer history and hold cultural significance globally.
People can participate in extended social relationships that transcend national and regional boundaries thanks to the flow of cultures. Such social interactions are formed and grow, and this is not just seen on a physical plane. The development of common knowledge and standards that people identify with their individual and collective cultural identities is a component of cultural globalization.
The study of how individuals with diverse cultural origins interact with one another and attempt to communicate across cultural boundaries is known as cross-cultural communication. Studying intercultural communication is a similar area.
The spread of cultural elements, such as concepts, fashions, languages, technology, and religions, is known as cultural diffusion. Cross-cultural interactions have grown as a result of cultural globalization, but this may also mean that previously isolated communities are becoming less distinctive.
Sushi, for instance, is sold in Germany as well as Japan, but Paris is not as popular as Euro-Disney, which may lower the demand for “authentic” French pastries.72, 73, and 74 The impact of modernity itself may have a greater effect on people’s alienation from their traditions than can globalization, according to existentialists .
Globalization has had a big impact on sports.For instance, athletes from almost 200 countries compete in a range of events during the modern Olympic Games [77].(78) Even more popular than the Olympic Games, the FIFA World Cup is watched and followed by people worldwide; in 2006, the FIFA World Cup Final was seen by one-ninth of the world’s population.(79)[81, 82, 80]
Transformation is implied by the phrase globalization. It is possible for cultural practices, such as traditional music, to disappear or blend together. A state of emergency for the preservation of musical legacy may be brought on by globalization. Local musicians may fight for authenticity and to preserve local musical traditions, while archivists may try to gather, record, or transcribe repertoires before tunes are assimilated or altered.