Globalization: Making a bigger world, a closer world
Technological revolution blew off on changing world that chose easiness to live. Gazing at the glorious straits, many victories host the thrones of technological realms. A lot of toiling intelligence was put into. We envisage realities born of toughest dreams in the simplest of their forms and usage. Communication now happens over countless miles with utmost ease. What took days through a post, now happens over seconds via email.
Thanks to the spell of technology…The world is now a global hamlet.
To begin with, Globalization is the phenomena of interweaving and exchange of ideas, pragmatic themes, pertaining to different walks of the world into one. This includes economic, social, cultural, scientific and all other relevant characteristics beyond the geographical boundaries and above narrow defined psychological lanes.
We live in an age, where distance is merely a word. Advancement in technology has created accessibility in every arena of life. It has only been feasible due to a phenomenon is known as globalization. Globalization has not only smoothed the flow of ideas, culture, economy and trade among the nations but has also transformed the greater world into the closer world. Globalization encompasses the whole world into its effect.
As a result of globalization, we can see the drastic transformation in both the advanced and developing countries in a way different from each other. It has not only liberated the import and export of goods and services across the borders but it also provides freedom to the entrepreneurs to establish any industry and trade within their own countries or abroad. It has paved an easy way for the domestic economy to integrate with the world economy. It encourages the world to work together. The free flows of ideas, knowledge and technology are setting the parameters of development high in every field.
With a reform in the economic sector, as collaboration amid the entrepreneurs is vivid, it is also softening the political and geographical relations among the nations. As it keeps the public sector away from the means of production and distribution, a higher rate of intensity can be witnessed in the efforts of the workers, which is letting to a greater positive outcome.
Where integration and democratization of the world's economy, cultures, and infrastructure are the important features of globalization, there are pitfalls too. It is a mixed bag where the rich are becoming richer and the poor are becoming poorer. Globalization has turned out to be a boon for some of the western regions, where nations like America and European Nations are taking full advantage of it, whereas the developing nations are lagging behind. It is creating social inequality by denying equal access to all. Globalization is leading to job insecurities, fluctuations in prices and currency; it is also increasing the rate of poverty.
Globalization has both its pros and cons, but it is good to have an optimistic view and to work on it, which will make this world an easy and better place to live in.