GLOBALIZATI

ON
WHAT IS GLOBALIZATION?

• It is a process of interaction and

integration among the people, companies
and governments of different nations.

• It is a process driven by international trade

and investment and aided by information
technology.
SILK ROAD
GLOBALIZATION

• Policy and Technological Developments

– Increases cross-border trade, investment and
migration (new phase of economic
development)

• Thomas Friedman
– “Globalization is farther, faster, cheaper and
deeper.”
GLOBALIZATION

• Driven by policies that have opened

economies domestically and
internationally.

• Many governments have adopted free-

market economic systems
GLOBALIZATION

• Increased their own productive potential

• Reductions in barriers to commerce
• Established international agreements to
promote trades in goods, services and
investments.
• Corporations have built foreign factories and
established production and marketing
arrangements in foreign partners.
GLOBALIZATION

• Technology
– Principal driver of globalization

• Information Technology
– Transformed economic life
GLOBALIZATION

• Controversial
– Proponents – globalization allows poor
countries and their citizens to develop
economically and raise their standards of living.
– Opponents – the creation of international free
market has benefited MNCs in the western
world at the expense of local enterprises, local
cultures and common people.
READ, READ, READ & READ

• 01 READINGS 1
– APPROACHES TO THE STUDY OF
GLOBALIZATION

• PREPARE FOR THE DISCUSSION NEXT

MEETING