Globalization Essay

5230 Words Mar 14th, 2013 21 Pages
Introduction Globalization has become a sort of fashionable buzz-word. It is quite often said but seldom with the same meaning. Globalisation has been an important factor in accelerating democracy’s growth in recent decades. In this globalized world, rapid development and global proliferation of new technologies and telecommunications, and integration of the world economy through trade and investment, have increased the role and power of regional and global institutions. This promoted and strengthened the spread of democracy while also providing the leverage for good governance. Globalisation impacts on the mode of governance that a country operates either as a symbol of universality or for uniformity. This unstoppable trend has …show more content…
Globalization Globalisation is defined as the integration on a global scale of flows of goods and finances, cultural contacts and information. It is the result of the internationalization of commodity flows, migratory movements, pollution and information, the classical congruence of nation, state and democracy are in a process of dissolution. The multidimensional nature of globalization process occurs in areas like economic, political, ecological, cultural, social and information life. Economic aspect of globalization: Possibly the first notion one relates to economic globalization is that of the ever-growing expansion of trans border financial flows and their impact on the monetary and exchange policies of national economies. The effects of the financial dimension of globalization are some what disputed. If the mobility of the capital flows across boarders can be seen as an efficient way to allocate resources world-wide and to channel them to developing countries, their volatility and possible use for speculative attacks against currencies are though to pose new threats to the economic stability of countries. Political aspect of globalization: Globalization means the

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