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Globalization

Globalization refers to the integration of economies, technologies, and cultures across the world through increased cross-border movement of goods, services, and ideas. It has been driven by advances in transportation and communication technology, and reduced trade barriers. Globalization has increased international trade and cultural exchange but also contributes to economic and social inequality between and within nations.

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Sangeetha K S
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19 views

Globalization

Globalization refers to the integration of economies, technologies, and cultures across the world through increased cross-border movement of goods, services, and ideas. It has been driven by advances in transportation and communication technology, and reduced trade barriers. Globalization has increased international trade and cultural exchange but also contributes to economic and social inequality between and within nations.

Uploaded by

Sangeetha K S
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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IBS B

 The modern world is seen as the world without


geographical boundaries and any kind of barriers.
 Globalisation has been the major force behind this,
representing the integration of the world economy and
exchanging the ideas, products, technologies etc.
 Globalisation is the process of international integration
arising from the interchange of world views, products,
ideas, and other aspects of culture.
 Globalisation means rapid increase in the share of
economic activities taking place across national
borders.
 Globe – a model of earth, world without boundaries.
 G means opening of prospects to border outlook,
interconnected, interdependent world with free transfer
of goods and services across nations
 Technological: IT, Biomedical, green, robotics
 Population: growth, aging, youth, women, labor, migration
 Cultural: ideological, educational, pop culture, civilization
 Health: Pandemics, AIDS, malaria
 Resources: Water, food and agricultural, energy and fuel,
minerals
 Terrorism:
 Crime: organized crime, piracy, drug trafficking
 Military/ security: alliances, nuclear proliferation, rising
powers
 Environmental: global warming, deforestation, bio-diversity
 Economic - Countries that trade with many others and
have few trade barriers are economically globalised.

◦ Commercial, industrial, communications, services


 Social - A measure of how easily information and ideas
pass between people in their own country and between
different countries (includes access to internet and
social media networks).
 Political - The amount of political co-operation between
the countries.
◦ OECD, EU, ASEAN
History of globalization
 1492 – 1800
 1800 – 2000
 2000 - present
 Trade and transaction
 Capital and investment movements
 Migration and movement of people
 Dissemination of knowledge
Pros Cons
 Rapid growth of business.  Disparity in the society
 Opportunity to go global.  Ethical responsibility of
 Introduction of various new business has been diminished.
technology.  Price hike of every daily usable
 Rise in access of technology in commodities.
rural area.  The local business has
perished
 New technology in the  High growth but problem of
agriculture
unemployment.
 Literate farmers  Affected the agriculture sector
 Rise in the literacy rate and  Takeover of national firms
quality of life  Brings instability
 Increased productivity  Impact on traditional
 High standards of living industries
 Increase flow of foreign capital  Affects small industries
Increased competition
 Widens disparity

 Cultural impact
 Increase in the foreign trade
 Induce domestic
 Indian economy adopted the policy of restriction after the
independence. But in 1991 due to the economic crises the
government of India decided to open its market for the
foreign investments. The new economic policies adopted
had impact on every sector of the Indian economy.

Major policy changes


 Licence abolishing
 Dilution of MRTP act
 Foreign investment encouraged
 Fiscal reforms
 External sector reforms
 Outward looking policy
 Public sector reforms

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