What is Globalization? | Effects, advantages and benefits

Although globalization is based on economic relationships, the social, cultural and political dimensions of globalization are also of great importance. We have made a detailed study of the effects, benefits and benefits of globalization.

What is Globalization?

Globalization means the increasing economic, social, cultural and political connections around the world and the greater integration of countries with each other. Globalization takes place with factors such as the acceleration of communication and technological developments, the liberalization of international trade and the free movement of capital.

In the last 50 years in particular, globalization has accelerated. During this time, the volume of trade, investment, travel, and technology transfers between countries increased dramatically. As a result, global economic ties have strengthened and many countries have become interdependent.

As globalization increases interactions between cultures, cultural differences between countries also decrease. However, there are also some criticisms of globalization, such as that globalization can increase regional disparities and cause unemployment problems.

Globalization Effects

Globalization means the increasing economic, social, cultural and political connections around the world and the greater integration of countries with each other. This has many effects worldwide.

Economic consequences

Globalization is leading to strengthening economic ties around the world and increasing trade between countries. While this can support many countries’ economic growth and development, it can also make some countries struggle to be competitive. Globalization can also increase income inequality between countries and increase unemployment.

Social effects

It increases interaction between people and communities around the world. This can increase interactions between cultures and help people around the world better understand each other. However, globalization can also lead to the disappearance of some cultures and traditions and a decrease in cultural diversity.

Political Effects

It leads to many changes in international relations. This may lead many countries to change their political structures and policies. Globalization can also increase international cooperation and bring more peace and stability around the world. However, some critics argue that globalization threatens the sovereignty of some countries and that foreign companies harm local economies.

Environmental effects

It can lead to increased consumption of natural resources and global environmental pollution. In particular, increased global consumption and production may exacerbate environmental problems. However, globalization can also increase environmental cooperation and promote sustainable development around the world.

Advantages and Benefits of Globalization

Globalization is a process that creates many different benefits all over the world. Here are some benefits of globalization:

• It leads to an increase in trade around the world.
• It strengthens trade relations between countries and enables more companies to access global markets.
• It can help boost the country’s economic growth and prosperity.
• It can accelerate technological developments.
• Companies and governments all over the world share technological innovations with each other, which accelerates technological developments.
• In many industries, it can increase productivity and reduce production costs.
• It increases employment.
• It helps increase employment and raise income levels.
• It can lead to the eradication of unemployment and the reduction of poverty.
• It increases the interaction between cultures.
• It can help people understand each other better and increase understanding between cultures.
• It can make people more open to each other and create a more peaceful environment around the world.

What are the main causes of globalization?

Globalization is not a concept that appears out of nowhere. There are certain reasons for the formation of globalization. These reasons are explored in 5 main branches. Here are the top 5 reasons for globalization…

Free trade

World governments have lifted many export and import barriers and tariffs. For example, China, which began introducing free market reforms in the late 1980s and early 1990s, has lifted many restrictions on its export market.

Outsourcing

Companies began to save money by moving production of goods and services abroad to cheaper countries. Many manufacturers closed their factories in America and England and moved production to countries such as China and Mexico, where workers were cheaper and in poorer conditions.

Communication revolution

Two major revolutions facilitated international trade. The first is a process called containerization. The ability to ship goods worldwide in standard size containers has reduced costs and travel time. The second revolution is the broadband revolution.

liberalization

Many countries that had closed their borders to foreign relations during the Cold War were encouraged to open up. This allowed Western companies to enter new markets. Countries around the world have started harmonizing property and intellectual property rights. Thus, a patent granted in the US was also valid in China.

Globalizing human

People also globalize. Societies now try to get to know each other well through the virtual world and try to resemble each other. Imitative, degenerating social structures emerge. With the expansion of communication networks and ease of access, although our narrowness of information increases, our corruption rate increases by using the information we receive without scrutiny.

Yes, useful and useful information for people should be obtained, but if we try to bring this information into our lives as it is, or if we try to build our lives by emulating other people by imitation, then we keep to be on our own and begin to be other people. Therefore, we must shape the information we receive in accordance with our lives and adapt it to our lives in this way.

Global Threats

With globalization, that is, globalization, all the countries of the world live together. A crisis experienced in America resonates in Turkey or wars are not fought between two countries, but as a whole.

The best example of this is the 1st and 2nd world wars. Today, the economic crisis in one country also affects other countries. Whereas famine in one country used to affect only that country, now it can affect all countries. The slightest political crisis affects all countries. As these kinds of problems increase, it is a matter of curiosity where the end of humanity will go.

How did globalization come about?

Globalization started with the trade of people, migration, information sharing and intercultural interactions throughout history. In the late 20th century, technological advances and the proliferation of free market economies accelerated globalization.

What effect does globalization have?

Globalization increases the interactions between people, cultures, companies and governments around the world. This has implications for economic growth, social change, intercultural understanding, technological development, environmental problem solving, political cooperation and international peace.

Will globalization continue?

Yes, globalization will continue. Interactions between people, businesses and governments around the world will continue to increase. However, by working on the pros and cons of globalization, efforts should be made to take advantage of the positive aspects of globalization while minimizing its drawbacks.