Globalization Essay Example | Topics and Well Written Essays - 500 words - 18

Globalization - Essay Example In the recent past, globalization has been given impetus by a number of forces such as the rapid changes in communications (â€Å"Globalization†); the birth of new and sophisticated means of communication such as the telephone, and computer technology such as the internet and email has speeded up the process of globalization. With these new and efficient ways of communication, information, ideas and knowledge can be transmitted everywhere within seconds and this has led to increased connectivity and interdependence, thus globalization. Increased communication at international level has resulted to cross-cultural interactions between people and societies in general; it is now possible to transact business across the globe thus giving rise to what is now referred to as a global economy. The rapid changes in transportation have also been another factor that has led to increased globalization in the modern times (Pettinger); new and efficient means of transportation such as the airplanes, steamer ships, and electric trains among others have increased global connection and interrelatedness. It is now easier for people, goods, and ideas to move across national borders than it was before due to the increased ease in global transportation; in this regard, the whole world has been reduced into a global village due to the interconnectivity. Because of the increased ease of transportation, multinational corporations can now manufacture their goods and products in other countries and sell them across national borders. The increased connectivity and interrelatedness of global economies due to globalization has resulted to a number of effects, both positive and negative; for instance, multinational interactions have led to increased business opportunities and a global common market that is self-sustaining (â€Å"Effects of Globalization†). Multinational corporations can transact businesses