The World 's Economy Transitions Into A Single Interdependent System

1435 Words Feb 15th, 2016 6 Pages
Globalization can be described as the process in which the world’s economy transitions into a single interdependent system. For example, over that last several decades, the globalized market has increasingly grown at an alarming rate. Large companies and businesses throughout the United States and throughout the world benefit from outsourcing its capabilities or resources. Societies across the globe have established progressively closer contacts over many centuries, but recently the pace has dramatically increased. Organizations within the transportation, communication, technology, and hotel industries have created greater capital flows resulting in different countries becoming interdependent of one another. Multinational corporations manufacture products in many countries and sell to consumers around the world. Financial transactions through advanced technology have increased the movement of raw materials among the supply chain of national borders. Along with products and finances, ideas and cultures circulate more freely. As a result, diversity has increased at an international level. Many politicians, businesspersons, and scholars treat these trends as both inevitable and welcomed. However, for billions of people around the world, business-driven globalization means uprooting old ways of life and threatening their customs and cultures. The global social justice movement is a product of globalization that proposes an alternate, which is more responsive to…

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