Topic:

Dimensions of globalization
The three main dimensions of globalization commonly found in academic literature
are there;
1-Economic globalization:
The term, Economic Globalization, first proposed by Levy 1985.
Economic globalization generally refers to the widespread
international movement of goods, capital,
services, technology and information. It is the increasing economic incorporation and
interdependence of national, regional, and local economies across the world through
an addition of cross-border movement of goods, services, technologies and capital.
This dimension of globalization explains how the global economic order emerged
after the Second World War, with the establishment of International Monetary
Fund, World Bank, and World Trade Organization in 1980s.
This domain is so vast that it covers the whole phenomenon of Globalization.
One of the most obvious sign of economic globalization in our lives is the vast array
of products that are available from all over the world.In past, most corporations were
linked/identified with a country, but today corporations are now
transnational.Moreover, companies move their production and capital to any market
that will benefit the company (increase profits and share values).
Examples:
  A car being assembled in the United States may import parts from Japan,
Germany, or Korea.
 Consider how one shirt sold in the United States might have been made from
Chinese cotton by workers in Thailand.
 Multinational corporations operate on a global scale. They work 24 hours
regardless, where they are located.These include, KFC, McDonald, Apple,
Adidas,Nike

Benefits Downsides:
Increased standard of living Violation of human rights
Access to newer markets Power politics
Introduction to newer technologies No fair trade
Stability Threat to local business.
Cheap Production. Unemployment of local workers
Cross-border employment Depletion of resources

Political globalization:

Political globalization began in the 20th century through intergovernmental

organizations and supranational unions.
According to William R. Thompson
“Political globalization refers to the intensification and expansion of political
interrelations across the globe.”
It generally refers to the amount of political cooperation that exist between different
countries. This ties in with the belief that “umbrella” global organizations are better
placed than individual states to prevent conflict.One of the key aspects of the political
globalization is the declining importance of the nation-state and the rise of other
actors on the political scene.The creation and existence of the United
Nations is called one of the classic examples of political globalization.

Pros of Political Globalization

• Access to international aid and support
• It contributes to world peace
• Smaller countries can work together and gain more
influence internationally
• International organizations are often committed to
spread values like freedom and to fight abuses within countries
• Governments can learn from each other

Cons of Political Globalization

• State sovereignty is reduced
• The functioning of international and supranational
organizations is often not “democratic”
• Big countries can shape decisions in supranational
organizations
• Sometimes countries can veto decisions

Cultural globalization:
Definition:
Cultural globalization is defined as the transmission of ideas, meanings
and values around the world in such a way as to extend and intensify
social relations.
It includes the rapid movement of ideas, attitudes, meanings, values and cultural
products across national borders. It refers specifically to idea that there is now a
global and common mono-culture – transmitted and reinforced by the internet,
popular entertainment transnational marketing of particular brands and international
tourism – that transcends local cultural traditions and lifestyles, and that shapes the
perceptions, aspirations, tastes and everyday activities of people wherever they may
live in the world.
Here are few examples of Cultural globalization:
Migration:
Migration of Indians and Pakistanis at the time of sub continent division.
Sports:
The World Cup and The Olympics, and Formula 1, which bind millions together in a
truly global experience.
Food: McDonald’s, Coca-Cola and Starbucks. Eastern restaurant in European
countries.
Festivals:
 Holi, Rajasthan, India.
 Songkran Festival, Thailand.
 Festival of Lanterns, Obon, Japan.
Positive effects:
 Societies have become large ; accept other people
from other cultures
 Cooking , music , fashion all spread; globalization
 Communication b/w different culture; creativity

Negative effects:
 local cultures are ignored
 multinational corporations; promoting a consumer
 culture, exploitation of workers and markets and
 influencing societal values
 conflict with tradition religious beliefs
 Loss of worlds cultural diversity, replaced by primarily Americanized world
cultures
References:
https://youmatter.world/en/definition/definitions-globalization-definition-benefits-
effects-examples/
https://www.investopedia.com/terms/g/globalization.asp
https://en.wikipedia.org/wiki/Political_globalization#Definitions
https://en.wikipedia.org/wiki/Economic_globalization#Notes
https://www.veryshortintroductions.com/view/10.1093/actrade/9780198779551.001.0
001/actrade-9780198779551-chapter-3
https://www.yourarticlelibrary.com/globalization/globalization-types-economic-and-
cultural-globalization/30736
https://slideplayer.com/slide/4715070/