Self-study: Notes on Globalization

1. Globalization is defined in many ways, depending on the prospects that it is. Generally, Globalisation is about economic integration and liberal trade around the world with which there have been 2 flows of contrary ideas:
- Supporting idea: Globalisation has some positive impacts as rapid growth and poverty reduction on world development, specially developing countries.
- Oppose idea: Globalisation has some negative effects on developing countries' development as increased inequality and environmental degradation.

2. Globalisation has been promoted by rapid development of technologies, communications, transportation and computer. Globalisation is considered as liberalisation of trade, therefore, it eliminates rules and regulations, undermines local and national politics, creates new markets and wealth. Otherwise, it causes loss, suffering, social disorder and chaos.

3. Globalization can be understood as "a process of interaction and integration among the people, companies, and governments of different nations, driven by international trade and investment and aided by information technology, making effects on environment, culture, political systems, economic development and prosperity and human physical well-being".

Globalisation has created a new face for the world econmy, but the factors that help increase liberal trade are: Open policies and technological development, which make cross-border trade, investment and migration so easy in order to create a favourable environment for developing countries to develop their economies nationally and internationall. However, globalization is a controversial subject: it promotes economic development for poor countries and their citizens, so that they have higher and higher standard of living. It creates "an unfettered international free market" that benefits multinationals at the expense of local enterprises, local cultures, and common people.

4. Globalization can be defined as "an inevitable phenomenon in human history that's been bringing the world closer through the exchange of goods and products, information, knowledge and culture". Globalisation has been driven faster by unprecedented development of technology, communications, science, transport and industry. However, the process of globalization needs to be adjusted and controlled to bring into full play its positive effects and limit its negative impacts on developing countries and their people's life.