10 Lines on Globalization

Globalization is the concept of integration and interaction of people around the world which came into highlight in the middle of the 18th century when connectivity across the globe improved quickly because of the easy modes of transportation like steam engines, ships, jet engines etc. Though globalization has been considered good for most of the developing economies in the world involving trade, movement of people and the transfer of knowledge but it has certain environmental impact like global warming, pollution (air, land and water).

10 Lines on Globalization

Set 1

1) Globalization refers to the process by which people and nations interact and conduct various activities helpful in trade, business and cultural integration.

2) Globalization can be classified in to three types – economical, political and social globalization.

3) Economical globalization is the process of creating interdependency among the nations through the movement of goods, services, technology and capital.

4) The exposure of trade activities benefits the nations in reducing poverty and increasing employment opportunities.

5) Economical globalization gives an opportunity to the underdeveloped and developing nation to join the group of developed nation.

6) It also leads to the innovation of new technologies resulting in further business growth and improved standard of living.

7) Economical globalization might also leads to the exploitation of work force in under developed economies.

8) Around 21% of rich nations are believed to exploit about 90% of the earth’s natural resources which has widened the gap between rich and poor.

9) Social Globalization helps in transferring ideas and values in order to strengthen social relationship across nations through sports, music and arts.

10) Political globalization is the platform where government and civil societies discuss the issues concerning the world, like UN (United Nations).

Set 2

1) Former Prime Minister Dr. Manmohan Singh in 1991 initiated the globalization movement by framing the economic policies for India.

2) Globalization has also benefited India as it has improved the nation’s economic development process through foreign direct investments.

3) The primary aim of globalization in India was to prepare the country for more service-oriented economy through expansion of private investment.

4) Internet is playing major role in globalization by sharing of knowledge and information.

5) Internet has also connected people across the globe through social media platforms.

6) People have also opposed globalization as they presume that it might bring back the colonial era through foreign direct exchange.

7) Opponents of globalization also believe that corporate can affect the political decision making which might threaten the integrity of nation.

8) Environmental concern like major deforestation on the cost of setting up the industries and factories is a major disadvantage of globalization.

9) It is also believed that globalization might also destroy the culture of a nation as younger generations are more attracted towards the western culture.

10) WTO (World Trade Organization), International Monetary Fund (IMF), World Bank, G-8 Nations and World Economic Forum serve as a platform to discuss issues related to global economy.

Set 3

1) Globalization represents the global integration of international trade, investment, information technology and culture.

2) It is a process of interaction and integration between people, companies and governments worldwide.

3) Globalization has increased due to advances in transportation and communication technology.

4) International trade, ideas and culture have increased with increasing global interaction.

5) It is difficult to determine whether globalization is beneficial or harmful for a decade.

6) If we see the benefits, then this gives new opportunities to the business and with this the customers of a country have more options.

7) Globalization has contributed greatly to economies around the world in many positive ways.

8) Globalization has affected the Indian students and education sectors to a great extent, providing enormous information on study books and the Internet.

9) The collaboration of foreign universities with Indian universities has brought a major change in the education industry.

10) Health sectors are also greatly affected by the globalization of general medicines, health monitoring electronic machines, etc.

Set 4

1) Globalization is a process of spreading science, technology, business etc. through transport, communication and trade.

2) Globalization is a term that refers to the continued integration and interdependence of countries in the field of rapid trade and technologies.

3) The impact of globalization has been seen on tradition, environment, culture, security, lifestyle and ideas.

4) The reason for the boom in globalization is the demand of people, free-trade activities, acceptance of markets worldwide, emerging new technologies, new research in science, etc.

5) This gives new opportunities to the business and with this the customers of a country have more options.

6) Globalization has contributed greatly to economies around the world in many positive ways.

7) Incredible advancements in science and technologies have given businesses an amazing opportunity to spread easily beyond territorial boundaries.

8) Due to globalization, there has been a huge economic growth of companies all over the world.

9) Globalization of trade in agriculture has brought in various quality seeds with disease resistant capacity.

10) The process of globalization in India started in 1991 when ManMohan Singh had the charge of Indian Finance Ministry in congress led government.

Effects of globalization on developed economies like United States and China have been huge in terms of creating wide income gaps like social inequality, degradation of the health of the environment due to deforestation, climate change, global warming, and pollution.

The increased exploitation of labours especially belonging to the low income group has led to the formation of international labour organization in order to protect the rights of the workers. There is a need of hour to form a global environmental and cultural organization to protect the implications of globalization on environment as well as culture.