Globalization to the common folk in my neck of the woods meant opportunities. I could travel the world and work. My children could travel the world freely to study and choose to settle wherever their hearts desired.
Globalization is deeply controversial, however. Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people. Resistance to globalization has therefore taken shape both at a popular and at a governmental level as people and governments try to manage the flow of capital, labor, goods, and ideas that constitute the current wave of globalization.
Technology has been the principal driver of globalization. Facebook, Twitter, Instagram, Snapchat just to name a few are great advances in information technology and the fast process of information. Technology has dramatically transformed economic life. Information technologies have given all sorts of individual economic actors—consumers, investors, businesses—valuable new tools for identifying and pursuing economic opportunities, including faster and more informed analyses of economic trends around the world, easy transfers of assets, and collaboration with far-flung partners thanks to blogging.
With Brexit and the new proposed travel bans in The United States of America is globalization nearing its end?
Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale.
The worldwide movement toward economic, financial, trade, and communications integration. Globalizationimplies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers.
To find the right balance between benefits and costs associated with globalization, citizens of all nations need to understand how globalization works and the policy choices facing them and their societies.