Globalization is one of the central concept in current analysis of the economi and society. The term was used 40 years ago.with the reference of economist – but the idea of modernization within a global market-placehas much earlier origin in the writings of saint simon and park.
The financial crisis which spread through emerging markets in 1998 brought home to many people to extent to which their livelihood depend on unpredictable event a long way away.
Its now seems likely that, while deeply traumatic for many individual and some countries.
Notably asia and the former soviet union, this latest crisis will prove to have been no more than 1 of the growing pains of an ...view middle of the document...
There is a perception , and often a reality , of globally integrated system of physical communication 9telephone , internet . shared entertainment ( film , tv, sport classical music). Economic exchange and capital flows . and the accelerating spread of ideas computing spiritual value .(through cristianity and Islamic)
Keniichi ohmae s pharase ‘ the boardless world ‘ , captures the sense of radical progress and modernity , and of life beyond of the constrain of the traditional nation state. Which infuses much of the popular writing about globalization (ohmae 1990 ).certainly the concept has meaning for those in senior management position . in growing innovative companies ,internet user communication spesialis., frequent business , shop around and invest in multiplicity of market. The concept of globalization is not just descriptive ,it is also normative. Many relish the excitement and the widening opportunity and want to remove barrier to market and mobility . but others are alarmed by real or imagined threats to their identity or the ability to their government to exercise control over event. There is now a variety of separate battleground where this competing adeas are at odds . ; trade and immigration policy ( in the us and france , for example ), attitude to foreign enterprises (in India and Rusia) ; freedom of access to offensive or threatening material on the intarnet ( in Us and Singapore ) or sattelit television (in china ).
The financial crisis and slumps in 1998 in asia and russia focused attention on the issue of how far government can or should regulate short term capital flows and many well broaden out in to a deeper questioning of economic openness . there are numerous tract , pressure groups and parties advocating some variant of ‘new ‘ but usually rather old protectionism . .
Many analyst have , moreover , begun to question the extent and permanence of the globalization process. The critique has 3 element . the first that in some globalization is not well advance .falling well short of complete global integration and even less advance than in earlier period in history. ; as martin wolf recently put it , ‘if not a myth , a huge exaggeration 9wolf , 1998 0. The second that is the integration is not irreversible and has been reversed before . the third is that the role of nation state institution is far from redundant .though there may have been changed in the way national government can exercise sovereignty .
Globalization essentially refer to a mixture of international , multinational ,offshore and global activities and involves a general progression from the domestic to the global.
Is the globalization desirable ?
Whether or not deeper global economic integration is irresistible depend in large measure on whether it is broadly felt to be desirable . the process of market liberalization which has helped to drive globalization is ,at root political and depend on popular support or , at least acceptance .