Good

morning!
Introduction to Globalization
Questions to Ponder

What is globalization?
What are the features of globalization?
What are the effects of globalization?
What are the qualities of globalization?
Globalization
•Globalization is the process
in which people, ideas and
goods spread throughout
the world, spurring more
interaction and integration
between the world's
cultures, governments and
economies.
Globalization is a
growing
interconnectedness
.
Globalization is a process of interaction and
integration among the people, companies, and
governments of different nations, a process driven
by international trade and investment and aided
by information technology.

The volume of world trade

increased twenty-seven-fold from
$296 billion in 1950 to $8 trillion in
2005 (WTO, 2007).
People are engaged in buying
and selling from other places in
far-away lands like
the famed Silk Road across
Central Asia that connected
China and Europe during the
Middle Age for thousands of
years and they also invested in
enterprises in other
countries for centuries.
Effects of the policies and
technological
developments of the past
few decades
• Since 1950, the volume
of world trade has
increased by 20 times
and from 1997 to 1999,
flows of foreign
investment nearly
doubled from $468
billion to $827
domestically.
Features of Globalization
 International Industrial
and Financial Business
Structure
• Many governments adopted
free-economic systems.
• Governments also have
negotiated dramatic reductions
in barriers to commerce and
have established international
agreements to promote trade in
goods, services, and investment.
TECHNOLOGY
• Economic life is dramatically transformed by
advancement in information technology. All sorts of
individual economic actors like consumers, investors,
and businesses which are valuable new tools for
identifying and pursuing economic opportunities,
including faster and more informed analyses of
economic trends around the world, easy transfers of
assets, and collaboration with far-flung partners are
provided by information technologies.
 Globalization is an expansion, and
intensification of social relations and
consciousness across world time and world
space. It is about growing worldwide
connectivity according to Steger.
Attributes, Qualities or
Characteristics of
Globalization
1. It involves both the creation of new
social networks and the
multiplication of existing
connections that cut across
traditional, political, economic,
cultural, and geographical
boundaries.
Brazilian World Cup: Today’s media
combine conventional TV coverage
with multiple streaming feeds into
digital devices and networking sites that
transcend nationally based services.
2. Globalization is reflected in the
expansion and the stretching of social
relations, activities, and connections.
• Reaching of financial markets around
the globe
• Occurrence of electronic around the
clock
• Emergence of gigantic and virtually
identical shopping malls in all
continents to cater to consumers who
can afford commodities all over the
world-including products whose
various components were
manufactured in different countries
3. Globalization involves the
intensification and acceleration of social
exchanges and activities.
Examples:
• The worldwide web relays distant
information in real time
• Satellites provide consumers with
instant pictures of remote events
• Sophisticated social networking by
means of facebook or twitter has
become routine activity for more than a
billion people around the globe.
4. Globalization processes do not
occur merely or an objective, material
level but they also involve the
subjective plane of human
consciousness. Without erasing local
and national attachments, the
compression of the world into a single
place has increasingly made global the
frame of reference for human thought
and action.
 Thank you!

Study: Historical Periods of

Globalization
Dimensions of Globalization