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Submitted by sarishdez on April 14, 2008
Category: Business
Words: 967 | Pages: 4
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What is globalization?
As an introduction I would like to contextualize the definition and origin of this common term, Wikipedia the most visited encyclopedia defines it saying that “Globalization is international integration. It can be described as a process by which the people of the world are unified into a single society. This process is a combination of economic, technological, sociocultural and political forces”. From my point of view this concept was created by the need of the population to destroy barriers and frontiers to implement and promote a greater communication, to increase the level of commerce, to exchange cultures, food, and news.
This process was at the beginning slower than what it is nowadays, experts say that it is being faster every day, I think that the telecommunication industry is involved in the development of this new phenomenon, because it created the instruments to facilitate that communication or exchange that people was experimenting. For example was easier to know the consumer needs in foreign countries, with the TV, radio or telephones, for the greater offer and demand the prices of the different products have decreased through all these years.
Globalization is involved in each scope; economic, cultural, political, technological, among many others. But I want to focus this essay to one specific scope, the economical; the globalization in economy is defined like “the change towards a world economy with a greater level of integration and interdependence”. This change was promoted many years ago by the Bretton Woods agreement, and the creation of the International Monetary Fund (IMF) and World Bank (WB), two international institutions charged of promoting international commerce, reducing barriers of commerce, facilitating the expansion and implementation of the Globalization process.
Like any other unavoidable phenomenon it has its pros and contras, for the...
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