Globalization Is An Unpredictable And Multifaceted Phenomenon

925 Words Nov 23rd, 2016 4 Pages
Globalization is an unpredictable and multifaceted phenomenon. This is a situation where movements of goods and services around the world can move freely and openly in a trade. Furthermore, with the opening of one state against another, makes not only goods and services entering a country but also technology, consumption, education, and cultural values (Baylis, Smith, & Owens, 2013, p.15). Basically, globalization refers to the process of international integration resulting from the interchange of products, ideas, and culture. Development in telecommunications infrastructure such as Internet and transportation such as jet container ship have accelerated the pace of globalization, as it enables information flow across borders and allows vast quantities of goods to be shipped across the world at extremely low cost (Meerhaeghe & G, 2012). Based on Beaverstock (2008) stated that people have their own perceptions toward globalization. For some globalization may creates positive economic, political, and technological progress. For few globalizations can be antagonist to national economies. Globalization has changed circumstances in such a way that power of state is determined by power of firm. Hence, this essay would clearly explain how globalization undermined the power of the nations state in terms of economic, political and socio-cultural aspects.

In economics, globalization refers to the movement of good, services, technologies and capital beyond national boundaries through,…

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