INTRODUCTION OF GLOBALIZATION

Globalization in the broadest brains implies addition of economies and society cross ways the globe through the flow of skill, trade and assets. It on the whole refers to a procedure that enables people, goods, information, norms, practices and institutions to transcend national jurisdictions through markets, technologies, interests and in order flows. Four types of changes typify globalization.

First, it involves a stretching of social, political and economic behavior crossways frontiers, regions and continents. Second, it is marked by the rising scale of interconnectedness and flows of deal, asset, money, migration, culture, etc. Third, it can be related to a speeding up of global connections and processes. And fourth, the belongings of remote proceedings can be highly major away and exact local developments can have substantial global penalty. Thus the limits between household matters and global relationships become ever more liquid. Globalization, in short, can be idea of as the widening, increasing and rising crash of universal interconnectedness. It causes a growth in the volume and diversity of angry limit contact in goods and armed forces.

Globalization is a long-term procedure of change. It has financial, following and educational size, all of which can have a social crash. The diverse extent of the process are unified and equally reinforcing. There are, certainly, major possible payback of globalization. Openness to overseas straight asset can give to enlargement by inspiring domestic asset, improving competence and output, or by raising the knowledge practical to making. Increased entrée to the family financial scheme by distant banks may lift the competence of the banking process so lowering the cost of asset and raise enlargement rates. Trade honesty may make easy the gaining of new inputs, less posh or higher-quality middle goods and bettered technologies that improve the overall efficiency of the economy.

Conversely, the procedure of globalization entails important risks and potentially large financial and social challenges, particularly to the developing countries. Openness to global assets markets has brought better instability in family financial markets, chiefly in country whose financial systems were weak to start with and whose economic policies lacked credibility. Similarly trade liberalization has led in some countries to reduced insist for unskilled labor, lower real wages, job wounded and income declines which have often resulted in higher scarcity rates. As a result, there have been growing concerns about the unenthusiastic effects of globalization, and an ever more polarized debate on the plight of the world’s poorest.

It is very clear that the fact of globalization has come to wait. In fact, globalization has been described as a fast moving teach that waits for no one.1 Intended passengers also jump onto it or risk of being left after. Like every journey, every traveler must be ready to board at the right position, with the essential kits and with a clear information or dream of his purpose. There are understandable indications that Bangladesh is ill ready to start this trip and manage with the growths. Apart from the fact that most mounting countries lack the basic communications to board on industrialization drives, the incapacity to make sound economic policies, randomness of changes in laws and enveloping dishonesty are serious obstacles to progress. Therefore, one of the most challenges faced by Bangladesh in this century is how to reinforce its contribution in the global economy in a way that will bring prevalent and sustainable payback to its people.