Is globalization a friend to the developing world.
The big idea of Globalization in the world today lacks an exact definition. According to Joseph Stiglitz, an economist and winner of the Nobel Prize,
“Globalization is the closer integration of the countries and peoples of the world brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital, knowledge, and people across borders." (From Globalization and its Discontents).
In general, globalization refers to the movement toward countries linking together economically, through education, society and politics, and seeing themselves not only through their national identity but also as part of the world as a whole. Globalization brings people of all nations closer together, especially through common mediums like the economy, media or the Internet.
Globalization as a process can be characterized as a stretching of political, and economical activities across states of the world so that the beliefs and significance of a country or region can be related to in other parts of the globes. For example the civil wars and conflicts in poor regions increase the flow of immigrants into the fully developed countries. Also the speed of weapons of mass destruction and the spread of harmful viruses on computers worldwide shows the intensification of interconnectedness in the world. The increasing pace of global interactions means of transportation and the rapidity of communication around the world also is a way of characterizing the spread of globalization. An example will be the UK routine telephone banking transactions being dealt with in India in real time, but recently financial crisis stock markets across the world collapsed within hours rather than weeks as in the great clash of 1929. In addition, local events may have global consequences due to the entanglement of local and global interactions in the world as a shared social space that is globalism. From this we
“Globalization is the closer integration of the countries and peoples of the world brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital, knowledge, and people across borders." (From Globalization and its Discontents).
In general, globalization refers to the movement toward countries linking together economically, through education, society and politics, and seeing themselves not only through their national identity but also as part of the world as a whole. Globalization brings people of all nations closer together, especially through common mediums like the economy, media or the Internet.
Globalization as a process can be characterized as a stretching of political, and economical activities across states of the world so that the beliefs and significance of a country or region can be related to in other parts of the globes. For example the civil wars and conflicts in poor regions increase the flow of immigrants into the fully developed countries. Also the speed of weapons of mass destruction and the spread of harmful viruses on computers worldwide shows the intensification of interconnectedness in the world. The increasing pace of global interactions means of transportation and the rapidity of communication around the world also is a way of characterizing the spread of globalization. An example will be the UK routine telephone banking transactions being dealt with in India in real time, but recently financial crisis stock markets across the world collapsed within hours rather than weeks as in the great clash of 1929. In addition, local events may have global consequences due to the entanglement of local and global interactions in the world as a shared social space that is globalism. From this we