Impact of Globalization
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Impact of Globalization
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Rajmeet Ghai
Globalization can be broadly defined as social, political and economic changes that we all adapt do. Thestrong currency rates, constructions, trading etc are all consequences of globalization.
Positive Impact
A better economy – it introduces rapid development of the capital marketIntroducing new technologies the new technologies and progress in telecommunication,introduction of satellites, mobiles etc are all results of globalization.The new scientific research patterns are all results of globalization.Living standards are risen.Globalization introduces better trade. This is because more people are employed. This increasesproductivity.Apart from economical aspect, globalization has also brought an impact on political and culturaldomain.Culturally speaking, globalization has brought in different ideologies, and thought process amongstpeople.Politically speaking, onset of western democratic system has an impact on politics.
Negative Impact
Along with positive impact, there is negative too. Globalization brings fear as well. Because of toomuch flow of capital amongst countries, it introduces unfair and immoral distribution of income.Another fear is loosing national integrity. Because of too much exchange of trade, money etcindependent domestic policies are lost.Mental pressure on companies that causes many people to loose their jobs.
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Impact Of Globalization
Globalization is a contentious process. We all live in a global world, i.e. growing in global or worldwidescale. Globalization brings the new era in the 21st century and we are interconnected through it. Howeverglobalization has become a very interesting part of debate among the students, and economists. Many ofthe people debate about the impacts of globalization and discuss the for and against conditions for it.
Globalization conveys us that something new is happening to the world. Globalization leads to theinterconnection between the countries of different culture, caste and heritage. The process leads to theupdating of information among the people. Advancement in transportation, telecommunication systems,
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