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Globalization is the tendency for companies and industries to have presences in many countries and to compete for customers in many countries. It is also the tendency of these companies to operate where costs are lowest. Thus, whole industries that once flourished in the U. S. have moved overseas, meaning a loss of jobs for many American workers but meaning also, arguably, lower prices for American consumers.
We can't forget that there are cultural aspects to globalization as well. As globalization occurs, cultures around the world come to have more in common. This can be seen as good because it promotes understanding or bad because it takes away from the distinctiveness of various societies.
Some like to describe globalization as a shrinking of the world, which implies a condensation and dimishment of cultures and a growing power garnered by corporations (as pointed out in post #2). I agree with the opinion that suggests the financial uncertainty implied in globalization for individuals around the world, perhaps especially those in developed countries.
With that said, I think the "shrinking world metaphor" that so many people like to use should be re-thought. Financial and cultural borders are falling, it seems, but our world, in all its diversity, human richness, and opportunity, is as big as it's ever been.
I read an article by Bertrand Russel many years ago. There he wrote that the world is coming closer and distance between one country to another is reducing because of the scientific inventions. Then I did not think of Globalisation, its merit and demerits. Now we realise that globalisation is good for reducing gap among the countries and it helps in economic matter. However, for some countries it destroys their markets and economic advancement by flooding productions of other rich countries at less cost and of good qualities. Thus the small scale industries of the third world countries and their handicrafts are much effected. In the cultural matter it is good to have known and exchanged. It reduces the gap among people of various countries.
I think that globalization is inevitable with technology. If you look at our history, we become more of a global society with each new technological achievement. So as technology improves, we will become more global and more dependent on one another.
I must agree that globalization is inevitable with the vast capabilities of technology. Technology allows for people to speak the same language (through translation programs) and cross cultural and land barriers.
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