Send the link below via email or IMCopy
Present to your audienceStart remote presentation
- Invited audience members will follow you as you navigate and present
- People invited to a presentation do not need a Prezi account
- This link expires 10 minutes after you close the presentation
- A maximum of 30 users can follow your presentation
- Learn more about this feature in our knowledge base article
Economic,Political and Cultural Globalization
Transcript of Economic,Political and Cultural Globalization
Firstly, transportation advances. With the improvements in transport, a large number of people and goods are able to move more quickly .As a result, the cost of transporting goods becomes relatively cheaper where there are many larger cargo ships available .Also, it means that the cost per item can be reduced since the cost of transporting is the key reason which influences it.
Freedom of Trade
The typical example of it goes to the Europe Union's (EU) free movement and trade, which includes goods, workers, and services.This promotes people in different European countries to open or do business in each other's countries.
Economic globalization refers to the increasing interdependence of world
economies as a result of the growing scale of cross-border trade of commodities and
services, flow of international capital and wide and rapid spread of technologies.The fast globalization of the world’s economies in recent years is largely based on the rapid
development of science and technologies, has resulted from the environment in which
market economic system has been fast spreading throughout the world, and has developed
on the basis of increasing cross-border division of labor that has been penetrating down to
the level of production chains within enterprises of different countries.
Labour availability and skills
It could tackle the problems of jobs and skills shortage in More Economically Developed Countries (MEDs) and reduce the unemployment risk in Less Economically Developed Countries (LEDs) in the meantime.Moreover, it can take advantage of cheaper labour costs .For example, Indian people whose country with the high unemployment rate are employed in Germany with lesser wages to fill the IT vacancies there .
It offers a more accessible and convenient communication between people around the world with the birth of electronic communication devices, such as smartphones, email, faxes, and social networking websites or apps .
Pros of economic globalization:
Cheaper prices for products and services (more optimized supply chains)
Better availability of products and services
Easier access to capital and commodities
Producers and retailers can diversify their markets and contribute to economic growth
Cons of economic globalization:
Some countries struggle to compete
Strong bargaining power of multinational companies vis-à-vis local governments
Culturally globalization refers to an interconnection of ideas, customs and values around the world . For example, globalized culture shown in different areas, such as music, television, and sport.Firstly, music from certain countries has spread and sold across the world, notably the Beatles in the 1950s.People could learn the English language, English love stories, and ultimately culture through their lyrics.
Secondly, Hollywood shows on television which originally produced for local audiences has been widely known in the world through globalization. Consequently, the American culture, customs, performance, folk tales which appear in the Hollywood shows dominate global culture.
Lastly, football's popularity shows the globalised culture in sport. People with different nationalities would royally support the football teams. Also, it is common that there are many football players in a team are of different nationalities.
Pros of cultural globalization:
Access to new cultural products (art, entertainment, education)
Better understanding of foreign values and attitudes.
Instant access to information from anywhere in the world
Cons of cultural globalization:
Westernization, cultural imperialism or cultural colonialism
Some small cultures may lose their distinct features
Politically globalisation means the expansion of the worldwide political system. In the hyperglobalist opinion, political globalisation challenges the nationalism, which leads to the decline of national-state and the loss of national sovereignty.International organisations including the World Trade Organisation (WTO) and the European Union (EU) superseded the nation-states to take the lead in decision-making.Many states' sovereignty is weakened when the membership in intergovernmental organisation asks them to hand over.For example, German students in Scotland unexpectedly are allowed to vote in elections to the Scottish Parliament.
In contrast to another views, transformationalists see political globalisation in a relatively positive way. They think there is a shared sovereignty between nation states and international organisations .Nation states still have the power to make important decisions. States and international political body cooperate with each other to solve the global problems, such as demands for human right, environmental pollution, developments in international transport and communication .
Pros of political globalization:
Access to international aid and financial support
Governments can learn from each other
Smaller countries can work together and gain more influence international
Cons of political globalization
State sovereignty is reduced
Coordination is difficult and expensive
Big countries can shape decisions in supranational organizations
In conclusion, We try to understand the meaning of globalization in economic, cultural, and political dimensions.
In these dimensions, it is not hard to see that technology revolution in recent years has played a vital role in the growth of globalization.
Moreover, with three perspectives on globalization, it is likely to conclude that there are various meanings of globalization in different dimensions and it is neither the totally positive nor negative. Globalization helps as well as harms the world relations. Therefore, it is better to raise public awareness of globalization, so that people could take it carefully to avoid the worst consequences.