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  • Essay / Essay on Globalization - 960

    Globalization is not a new phenomenon since it was introduced by the philosopher Hegel. The term became popular and widely used in the 1980s in academic circles. Globalization is a process of interaction and integration between people, businesses and governments of different nations. It is a process driven by international trade and investment and aided by information technology. Globalization is defined as “a social process in which geographic constraints on social and cultural arrangements fade and in which people become increasingly aware of their backwardness” (Waters, 1995, p. 3). According to Steger (2003), this process refers to the transformation of current social conditions towards the new global world. This process has influenced the environment and human physical well-being in societies around the world. In general, globalization can be classified into three broad types: economic, cultural and political (see Figure 1 in Annex 1). The first type of globalization is economic globalization. Since World War II, many governments have adopted free market or free trade economic systems, which will increase their own production potential and create new opportunities for international trade and investment. Additionally, the goal was to reduce tariffs and trade barriers and establish international agreements to promote trade in goods, services and investments. According to Steger (2003); During the 1950s, the goal of economic globalization was to expand economic funds to various industrial projects in developing countries around the world. Therefore, in 1947, the General Agreement on Tariffs and Trade (GATT) was established as the global trade organization responsible for fashion...... middle of paper ...... through The historical context of politics in the 17th and 18th centuries depends on the liberal revolutions in Europe and America. In conclusion, there are three main types of globalization and it involves the intensification and acceleration of trade and social activities. Economic, cultural and political globalizations are the types of globalization that have impacts on society and the world. Globalization has brought many benefits to people by providing them with a high standard of living through economic development, a wide range of imported products and the free market. But globalization has also become responsible for most of the planet's economic, financial and environmental problems, such as poverty, unemployment, job losses, etc. Overall, globalization is a good way to transform the current situation towards a better.