Globalization
Is a term that has recently come into usage& it covers all facets of life- political, economical, social, cultural and individual. Globalization is the process in which the limits & constraints imposed by geography & national political systems on social, economical & cultural patterns weaken& withers away. Or to put it in the words of Lester Brown- “it is a world without borders “.
This has been facilitated by new information technology, upgraded, rapid & cheap transport and movement. Increasing contacts first made this world a ‘Global Village’ in the worlds of M. Mac Luhan.
In the year 2006 this has further shrunk into ‘Global Family’. In technical terms Globalization means the integration of economies through trade , financial flows, technological spillovers& information networks.
Theoretically it refers to economic interdependence of countries worldwide. It should be clear that like other social formations the base of Globalization is also economic. This is characterized by the following:
1) Reduction of trade barriers so as to permit free flow of goods across national borders;
2) Free flow of capital among nation, states example no restrictions on foreign investment;
3) Free flow of technology;
4) Free movement of labor among different countries of the world.
A critical analysis of these components in terms of their socielet implications brings into light a number of problems which are no longer national but global also. Now even the local needs to be understood within the framework of global.
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