Phenomenon

Core Elements of Globalization

Basically, globalization rests on a stand namely, the growth of markets (economic), challenges to the state and institutions (political), and the go up of new social and following actions (cultural). Economically, technical changes and management deregulation have allowable the institution of transnational network in making, trade, and money creating what is referred to as a “borderless world.” The new making network describes firms and international enterprises (MNEs) who use higher means of infrastructure and new technologies to increase their behavior across the globe.

The second part affects States. Political control and actions expand cross ways the limitations of nation- states while rule making on issues such as human rights, ecological squalor and nuclear security have necessary global accord. The third constituent of globalization affects more than markets and states. It is changing the lives of people crossways the globe. Fast distribution of media, books, music, international ideas and values has shaped a rather global civilization.

Globalization Phenomenon Continues

Tom Friedman defines globalization as the lively addition of the world’s systems. Joseph Stieglitz, ex- World Bank Chief Economist and Clinton Administration mentor, terms it “the addition of the countries and peoples of the world … and the breaking down of false barriers to the flows of goods, military, capital, knowledge, and (to a lesser extent) people across borders.” Complementary to this, yet a bit more advanced, is the explanation by Micklethwait and Wooldridge of The Economist, that globalization is based on liberty and is, “the free movement of goods, services, ideas, and people around the world.” A fresh United Nations panel on the crash of globalization “… confirmed that globalization was not just a phenomenon of the market rest or financial contact. It had also been spreading internationally following paradigms, educational patterns and social ideas. It has led to standardization of the world’s security systems. This way, globalization had been moving the dominion of nation states and many of the established political, economic and social structures. Globalization is ambitious by both push-up and push-down trends.” Rena to Ruggiero in his article, Next Steps in Strengthening the Global Trading System explains, ‘Globalization is not an option. It is a reality. Globalization is a high-speed teach that is running very fast previously. Anyone who believes that globalization can be stopped has to tell us how he would envisage stopping economic and technological progress. This is tantamount to trying to stop the revolving of the earth.’ Friedman in his book ‘Lexus and the olive tree’ compared globalization with a high-speed train, which cannot be slowed down to allow its future traveler to board in. The only cause for this hysterically movement of the globalization train is because: it does not have anybody at its controls.

There are now two major points of view on the crash of globalization throughout the world. One talk in good turn of the globalization while others opines next to it. Those who favor globalization tend to use the international analysis to support their arguments.