Today Millions of people are connected with each through the extensive use of internet, telecommunciation systems and cable networks. No doubt that the whole credit goes to Globalization!!
Since 1962 the term ‘globalization’ has gone from a great jargon to a cliche. It has been well said by The Economist that the word globalization has become the most abused word of the 21st century. This is due to the fact that in recent memory no word has possessed so many meanings as the word globalization because it means different things to different people and individuals and has stirred up much emotion. Some people see it as a blessing while others condemns it as a new kind of commotion, chaos and confusion.
If the word globalization has to be properly defined, applied and narrated we observe that the “g-word” does have some utility and effectiveness. Globalization is indeed the magic word of the last decade of the twentieth century. The establishment of the World Trade Organization (WTO) has given a fillip to globalization which is now sweeping the world.
Globalization stands for the free movements of goods and services, capital and finance, technology, management and enterprise. To that has been recently added the migration of labor because of shortage of human resource in countries like Germany and U.K which till recently were very conservative in their immigration policy. The WTO regime insists on reduction of trade barriers. It insists on the intellectual property through a permanent regime. Nations have lost their economic sovereignty and national boundaries and are no longer sacrosanct.
What has facilitated Globalization?
The technology of computer and communication has facilitated globalization. With the rise of Information technology in the twentieth century globalization can be seen as one of the most powerful source for transmitting the ideas of democracy and human rights across the globe. The key tools that have promoted the concept of globalization also include the television, cable networks, and telephones.
Today a great amount of information in different multiple formats like voice, text, video etc are conveyed and transmitted at the speed of light. In addition to that a call that cost $300 in 1930’s from New York to London now costs less than a dime. This is mainly due to the globalization.
August 9th, 2009 at 7:50 pm
Well done! ..that was great and very informative article. I LIKED it. Thanx for sharing this wonderful infos.
August 9th, 2009 at 8:22 pm
Thank you Mr.Ghaz