Globalization Overview

Definition

• Globalization refers to the worldwide movement of people, ideas, money, goods, data, and more.

Historical Context

• Movement of people and goods is not new; for example, the Silk Road facilitated trade across continents.
  • Silk Road: Connected the Mediterranean Sea to East Asia, spreading fabrics, spices, art, technology, ideas, and diseases.

Modern Globalization Characteristics

• Scale, Velocity, and Range:
  • Modern globalization is defined by rapid and extensive flows across borders.
  • Example: Infectious diseases (Ebola, Zika) and financial crises (2008 crisis) spread quickly due to interconnectedness.
• Technology's Role:
  • Smartphones exemplify global coordination in production.
  • Allows rapid sharing of ideas, behaviors, products, and news.

Complex Effects of Globalization

• Positive Aspects:

  • Access to global communication and news.
  • Efficient international supply chains reduce costs and increase speed of goods production.
  • Increased consumer choices and lower prices from trade.
  • Strengthens international ties, promoting peace and security.

• Negative Aspects:

  • Technological advancements lead to automation, resulting in job losses.
  • Corporations may relocate to countries with cheaper labor/resources, widening the income gap between rich and poor.

Government Responses to Globalization

• Governments must decide on the level of openness to trade and investment.
• Options include:
  • Regulating immigration, refugee policies, and internet traffic.
  • Utilizing collective international responses rather than solely national measures.

Challenges Ahead

• Globalization can be perceived as a threat to local identity and norms.
• No country can be fully self-sufficient; governments and global institutions must:
  • Promote the benefits of globalization.
  • Address the negative impacts on individuals and countries affected by globalization.