Monday, 13 January 2014

Globalisation. A short summary

Its just a small piece I wrote for university and thought of sharing it with you all as well if it comes of any importance for your assignments.

             The term globalization is loosely used with the intention to describe the process of connecting local societies to one and another. It has been argued that globalization is not a new phenomenon, but has its roots in the age of colonial development. At any point man began to trade outside their territories, started talking to each other, started making treaties, that point was the birth of the phenomena of inter-connecting societies. However, its modern and diplomatic use can be dated to 1983, when Levitt’s article “The Globalization of Markets” was published. This process has both advantages and disadvantages and thus, this essay will point out the winners of both of the leagues.
   The first advantage will be how efficient this idea has made the world trade. An indication to the positive effect of cross-border world trade, as a percentage of global GDP, was 15 percent in 1990 but is expected to reach 30 percent by 2015. It will not be wrong for a layman to say every society has its strengths. Same goes for what they have on the table. Some portions of the world are remarkable in technology such as Japan, USA and India. Some has the best conditions for agriculture such as USA, China or Pakistan. Regardless the distance, the strengths of every country is available everywhere.