The Equitable and Sustainable Approach to Globalization

Now defining globalization has been one of the challenges that people face every day, globalization has in the past been defined as the worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labour and, as suggested by some economists,

Although there is still not agreement on a common definition of this phenomenon, in this paper I will accept the one developed by R.M. Joshi (2009). He identifies, indeed, Economic Globalization as “the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital”

The term globalization is very familiar worldwide and is being used frequently during oral and written communication. So, it is a buzzword. But what it really signifies is required to be clearly understood. The origin of the word globalization is globe. We know the word globe means model of the earth composite body that contains valuable animate and inanimate objects with multi-configuration in a space called universe. Human being is one of the superior animate objects. We, as the human being of the earth made our global efforts to globalize the various activities to satisfy the needs and wants. The process by means of which our activities are integrated and created interdependence globally is called globalization. Therefore, globalization can be defined as the on-going economic, technological, social and political integration of the world. Through the process of globalization the economic, cultural, social, political, and environmental interdependence level has been increasing day by day over the vast distances. However, the vast distances with the advent of science and technology have

The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers.

Globalization is the interaction of world economies to become one big economy, for the sole purpose of enhancing free trade, growth and efficiency and employment. It emphasizes the neo-liberal economic policies – commonly referred to as the ‘Washington Consensus’ – of free trade, financial and capital market liberalization, deregulation and privatization (Juhasz, pg 408). The supporters of globalization argue that it is essential to an individual’s advancement and economic progress, and constantly reiterate that an integrated market economy will bring prosperity worldwide. Whereas, critics of globalization believe that without a proper framework and policies, the consequence of globalization will have a great impact on world politics,

While discussing the topics of trade, development and political economy, globalization is often discussed. In general, globalization means a process in which world economies become highly integrated, leading to a global economy and highly global economic policymaking, through international agencies such as the World Trade Organization (Todaro & Smith, 2006).

Globalization is an expanding, vague term that constantly crosses disciplines. Integral to economics, sociology, psychology, and political science, the term is not rigid, with definitions and uses ranging in department, creating a puzzle within the term. Scholars agree that it is a process that crosses country borders through the sharing and flow of goods, services, economics, culture, technology, and more (Guillen, 2001; Held et al, 1999; Castells, 1996; Kobrin, 1997; Gilpin, 1987). I look at

Globalization is currently a very hot topic and many people have an awful lot to say about the matter, creating different theories and points of view. A definition of globalization could be, ‘The straightforward exchange between core and peripheral areas based upon a broad division of labour, is being transformed into a highly complex, kaleidoscopic structure involving the fragmentation of many production processes and their geographical relocation on a global scale in ways which slice through national boundaries.’ (Dicken ’98).

The most common definition of globalization is the process of global economic integration, creation of a unified legal, economic and informational space. However, this simplified definition does not address how boundaries and borders are reshaped, the shift of power from states to corporations, capital mobility and the impact it has on certain sectors of population. With globalization, there is a "market without borders.” Economic integration privileges the right of corporations. Corporations have the right to expand beyond borders, and exploit greater economies at scale; capital can be shifted to whatever countries which offer the most productive investment opportunities. It is important to note that while globalization

There is a growing number of firms in the developing world, which have participated in overseas business and many have even started merging or acquiring their foreign counterparts. Firms in the developed world are well-known to invest in Developing countries, which in return benefits the foreign firm and the local stakeholders. However, it is argued that many foreign firms exploit the resources and labour of the under-developed countries.

The word “globalization” as defined by Merriam-Webster Dictionary is “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.” The global expansion extends goods and services to a worldwide market, via investments, services and trade. This global force is driven by economic investments in foreign markets. Factoring trade growth is pushed by financial institutions, governments and personal investors in the pursuit of profits. The growth of technology and globalization has been seen as both the cause and effect for exponential growth over the past decades. There has been a

Globalization is everywhere. Globalization is defined as “a process of greater interdependence among countries and their citizens.” (Carbaugh, 2009, p.2) It consists of increased integration of product and resource markets across nations via trade, immigration, and foreign investment- that is, via international flows of goods and services, of people, and of investment such as equipment, factories, stocks, and bonds. Globalization is driven by technological change and the liberalization of trade and opening up of the markets. Globalization has given a rise to multinational companies.

A fundamental issue of concern is the unequal distribution of wealth between nations and population groups resulting in the inequality the poor face. It is speculated that economic globalization, characterized by the open markets, no longer controlled by national states, but by large profit-seeking transnational companies, build more barriers between the rich and the poor. The global market in a globalist capital system neglects the populations of nations in which are not able to integrate themselves in this process. Hence, globalization gives rise to more division than unity. It is evident that developing countries have become more active players in the global economy as major exporters of manufacturers and services and are competing directly with the developed. Further, trends display that faster growth and poverty reduction have a strong correlation in developing economies that have integrated with the global economy. Thus, supporting the view that the integration has been a positive force for developing countries. However, this poses the question as to how can

Globalization is the process of international integration through trade and communication. It is based in the theory that countries good at producing a particular good are better off exporting it to countries less efficient in producing that good. The assumption is

Globalization has also led to deep economic integration between the states. This integration has led the world to grow richer as a whole, an increase in trade, and an unprecedented flow of capital. The World Bank reported that between 1990 and 2015 the number of people living in extreme poverty fell below 10 percent of the global population. Thanks to the global political economy the world as a whole has become richer. While some may critique this by pointing to worsening poverty in some countries and growing inequality, they cannot disagree that lifting more and more people out of poverty each year is positive. The driving forces behind the increased global wealth are