B. Globalization ID.B. 2010

Globalization has become a buzzword in the new era of international polities and relations in for generalization to a concept inherent in the New World after the end of World War 11 by the hand powerful nations. Gloabitration to related to tres market economy which means fesent of goods, services, people and information across the national borders

Globalization is basically an economic concept. It has evolved from late capitalion Globalvation aims at globalizing capital and goods That is, globalization is a process of expanding trade and commerce increasing the flow of capital and commodities all over the world by creating a borderless market.

Globalization has opened up a new horizon of tremendous possibilities for the nations of the world Countries of the world are very closer to each other. They can share their views and ideas, knowledge, information, and technology. They even can stand by the distressed nations instantly, The process of globalization has made the whole world a free and huge market of goods and services. The inhabitants of the whole world are the consumers of the products. A product produced in one country is quickly marketed all over the world and thus available anywhere in the globe. So, globalization has increased trade, commerce, the flow of capital money, and investment. movement of people and workers all over the world,

Globalization is now on a strong foundation. The development of hi-tech communication system and rapid transportation facilities has turned the world into a village, popularly termed as global village The countries of the world are now like families in a village. The barrier of land and space has been removed. As a result, we can now learn in an instant what is happening in the farthest corner of the world. We can also travel to any part of the world in the shortest possible time. The use of computer, mobile and satellite networks, internet and other information technology has brought the whole world in our drawing room or office room

Nothing is an unmixed blessing. Globalization has a far-reaching and profound impact on many aspects of life. Globalization has challenged and risked traditional notions. It has been claimed that globalization widens the gap between rich and poor, between developed and developing ne underdeveloped nations. Because, agro-based, technologically backward, and developing countries are no match for industrially developed, and technologically advanced. powerful nations, Globalization aims as Widening the market for capital and goods, but at the same time, it ensures maximum profit for the capitalists and investors. In this case, the poor and underdeveloped nations are lagging behind in the competition of the market.

Globalization has both prospects and pitfalls. If the nations of the world can create an atmosphere of cooperation, peace, and solidarity, every nation can be benefited from the process of globalization. They can fight together global problems like poverty, illiteracy, aid, war and conflicts, and terrorism and work together to solve the problems of over-population, hunger, environmental pollution, or global warming. The globe then would be a better place for everybody.

Capital does not flow alone. With capital and goods, ideas and value, culture and power all move. Thus, globalization is now being seen as a cultural and ideological assault on developing nations. Critics of globalization assert that globalization has ended racial, cultural and liagistic varieties and distinction of the nations of the world imposing the ideas, values, social customs of the western world over other nations. English has become a global language threatening the exetence of minor languages of the world. In fact, globalization has tremendous impact. sometimes slow and unnoticed, but steady and powerful, over the lifestyle, food habits, clothes, education, sports and culture, and many other aspects of the global people.

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