Globalization

Globalization, a term that was not so familiar few years from now, is one of the most talked about topics these days. The world, not so big, is shrinking even more with the discovery of globalization. There are many issues and questions regarding globalization of this world. Globalization has affected us in a very positive manner. Human beings are connecting with each other politically, culturally, economically and technologically.

Globalization has brought the world together as one big nation. There is border-to-border communication and trade. Economically speaking, globalization has opened doors for trades. It has embraced trading of various products from country to country hence boosting the world’s economy. A product of a certain country can be known and exposed throughout the world. Not only the manufacturers and retailers take advantage of it but also consumers are benefited through globalization. It gives them variety of good quality products for competitive prices. Supporters of free trade also point out the advantages of globalization for example, lower prices of products and more employment.

When these trades take place there are several political issues that arise. To address these issues government makes laws and regulation in a country. There are certain policies that a company needs to abide by when going global. Global politics involves guidelines laid by number of organizations including International Monetary Fund, the World Bank and the World Trade Organization. A company penetrating globally usually starts off with the knowledge of any political issues that may arise or need to be addressed to avoid any complications. These laws and regulations guarantee fairness in the global market.

Culturally speaking, globalization