Essay about The Impact Of Globalization On The World

1299 Words Dec 14th, 2014 6 Pages
The Role of Globalization in the world Globalization has contributed so much to the world. The current technology and advanced communication has led the world to be a global village: one nation. There is increased interaction and integration of people, companies, and nations. The world is making a move toward economic, financial, trade, and communications integration. Labour and product exchanges have become more prevalent with modern computers and software programs. Countries can outsource factors of production from other countries. They can produce cheaper products in different countries which can return products at lower costs. Globalization has often been viewed with negative connotations. For many, it represents a threat to their jobs, livelihood and way of life. Though many think of it in a negative light, globalization has been a catalyst for positive change as well. This paper aims to discuss the positive as well as the negative role played by globalization in the world.
Globalization has opened up communication lines around the world. There has been development of global telecommunications infrastructure through increased trans-border flow of data and information by use of the Internet, communication satellites, and telephones. As Mayer Schoenberger and Hurley (147) put it, global communication network promote international trade and economic integration as they lower cross border transaction cost. In addition, this ever improving…

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