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). Let’s find below some of the interesting facts which would enhance your knowledge and make your understanding better about the Globalization.
10 Lines on Globalization in English
We have provided ten lines on Globalization in simple and easy words so that you can understand the importance and after effects of globalization in today’s world. These lines will help you to know what is globalisation, what are the types of globalisation, what are the benefits of globalisation, what are the disadvantages of globalisation, what is the aim of globalisation, what are the forums to discuss global economic issues, what are the effects of globalisation etc.
These lines can be also used to write globalization essay, essay on globalisation in India, essay on advantages and disadvantages of globalisation and few lines on globalisation for class 1, class 2, class 3 and class 4.
10 Lines on Globalization – 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).
We have also given an additional set of ten lines on Globalization which are written in a very simple language, easy to comprehend and can be helpful for you in quizzes, debates, group discussion, speech, paragraphs, articles and essay.
10 Lines on Globalization – 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.
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.