how to end an essay about globalization

• EssayBasics.com
• Pay For Essay
• Write My Essay
• Homework Writing Help
• Essay Editing Service
• Thesis Writing Help
• Write My College Essay
• Do My Essay
• Term Paper Writing Service
• Coursework Writing Service
• Write My Research Paper
• Assignment Writing Help
• Essay Writing Help
• Call Now! (USA) Login Order now
• EssayBasics.com Call Now! (USA) Order now
• Writing Guides

How to Write an Essay on Globalization

Table of Contents

• How to start
• How to write body paragraphs
• How to conclude
• Outline sample

Theme Actuality

As a topic and concept, globalization has had tremendous on how the world runs today. Currently, people use products from manufacturers who are thousands of miles away, and this can be attributed to globalization. As a topic, it has earned its place in economics and business books. It is, therefore, ideal whenever teachers give students essays or test students on globalization. The tests not only help students to become better writers but also helps them understand how the world works. Therefore, it is necessary to include globalization as a topic in class.

How to Start an Essay on Globalization

Good essay writing is indeed challenging. Moreover, students often complain of the difficulty of introducing a topic. Starting an essay can be problematic, and this explains why a majority of students seek help with essay writing. Introductions are indeed the most important part of an essay because they not only reveal a writer’s focus but also determines whether the audience will read the entire article or not. Therefore, writers need to exercise caution and base their article or essay on research and facts.

Here are tips to help you start an essay on globalization:

• Conduct exhaustive research on the topic under study.
• Prepare an outline with all the points and arguments you wish to include in your essay.
• If definitions are necessary, include them at the beginning of the essay. For example, provide the definition of globalization. While there is no problem in providing the dictionary definition, it is advisable to provide yours.
• Narrow the scope of your topic or article. Avoid being general and providing vague information within your article.
• Formulate a clear and appropriate thesis statement before you begin the essay. This will help you come up with the other supporting arguments.
• Make the introduction of your essay brief and to the point. Do not include a lot of information within your introduction but provide enough information to keep your audience interested.

While it can be a challenge finding a decent starting point, it is not impossible. By following the above, writers can find or establish a suitable starting point.

How to Write Body Paragraphs for an Essay on Globalization

In the body section, writers are expected to include supporting arguments. These arguments build on the main argument or the thesis statement. Therefore, they should enrich or improve on what the writer chose or developed as their primary argument. In the body section, being detailed is highly advisable, and therefore, writers are encouraged to make their papers comprehensive. The purpose of research or the bulk of research work often helps to write or develop this section.

Here are tips to help you write an essay on globalization:

• Use topic sentences. Each paragraph should highlight a specific point.
• Be detailed and provide examples in your essay.

How to Conclude an Essay on Globalization

As an introduction, writing a conclusion can also be a challenge. Every conclusion should have or leave a lasting impression on the audience.

Writers should, therefore, consider the following tips to guide them in writing a conclusion for an essay on globalization:

• Restate the thesis statement or main argument.
• Provide a summary of the main arguments you provided in the body section.
• Emphasize the main idea or the specific thing or issue you need your audience to remember after reading your essay.

Outline Sample

Outlines are important because they make a writer’s work easier. Essay writing can be a daunting task, but writers often make it simple by creating an outline before they begin the writing process.

Below is a sample of an outline of an essay on globalization:

Describe the social as well as cultural indicators or manifestations of globalization

Introduction

• Definition of globalization.
• Brief background information on the topic.
• Thesis statement. For example, Globalization has indeed been at the forefront of social and cultural change. The world has seen significant shifts in how people communicate and pass information, the internationalization of some services, as well as the dramatic impact in popular culture.
• Expound on the shifts in communication mechanisms.
• Internationalization of services.
• The borrowing as well as spread of popular culture.
• Restate the thesis statement.
• Summarize the essay’s main points.
• Highlight the importance or the impact of globalization on the social and cultural platforms of society.

45,000+ students realised their study abroad dream with us. Take the first step today

Meet top uk universities from the comfort of your home, here’s your new year gift, one app for all your, study abroad needs, start your journey, track your progress, grow with the community and so much more.

Verification Code

An OTP has been sent to your registered mobile no. Please verify

Thanks for your comment !

Our team will review it before it's shown to our readers.

• School Education /

✍️Essay on Globalisation: Samples in 100, 150 and 200 Words

• Updated on  
• Oct 25, 2023

Globalisation means the combination of economies and societies with the help of information, ideas, technology, finance, goods, services, and people. It is a process where multinational companies work on their international standing and conduct operations internationally or overseas. Over the years, Globalisation has had a profound impact on various aspects of society. Today we will be discussing what globalisation is and how it came into existence with the essay on globalisation listed below.

Table of Contents

• 1 How Globalisation Came Into Existence?
• 2 Essay on Globalisation in 100 Words
• 3 Essay on Globalisation in 150 Words
• 4 Essay on Globalisation in 200 Words

How Globalisation Came Into Existence?

For all those unaware, the concepts of globalisation first emerged in the 20th century. Here are some of the key events which led to the development of globalisation in today’s digital world.

• The ancient Silk Route as well as the maritime routes led to the exchange of goods, ideas and culture in several countries. Although these were just trade routes, but later became important centres for cultural exchange.
• Other than this, the European colonial expansion which took place from the 15th to the 20th century led to the setting up of global markets where both knowledge and people were transferred to several developing countries. 
• The evolution and exchange of mass media, cinema and the internet further led to the widespread dissemination of cultures and ideas.

Also Read: Essay on the Importance of the English Language for Students

Essay on Globalisation in 100 Words

Globalization, the interconnectedness of nations through trade, technology, and cultural exchange, has reshaped the world. It has enabled the free flow of goods and information, fostering economic growth and cultural diversity. However, it also raises challenges such as income inequality and cultural homogenization. 

In a globalized world, businesses expand internationally, but local industries can suffer. Moreover, while globalization promotes shared knowledge, it can erode local traditions. Striking a balance between the benefits and drawbacks of globalization is essential to ensure a more equitable and culturally diverse global community, where economies thrive without leaving anyone behind.

Also Read: Essay on Save Environment: Samples in 100, 200, 300 Words

Essay on Globalisation in 150 Words

Globalization is the process of increasing interconnectedness and interdependence among countries, economies, and cultures. It has transformed the world in various ways.

Economically, globalization has facilitated the flow of goods, services, and capital across borders. This has boosted economic growth and reduced poverty in many developing nations. However, it has also led to income inequality and job displacement in some regions.

Culturally, globalization has resulted in the spread of ideas, values, and cultural products worldwide. While this fosters cultural exchange and diversity, it also raises concerns about cultural homogenization.

Technologically, globalization has been driven by advances in communication and transportation. The internet and smartphones have connected people across the globe, allowing for rapid information dissemination and collaboration.

In conclusion, globalization is a complex phenomenon with both benefits and challenges. It has reshaped the world, bringing people closer together, but also highlighting the need for responsible governance and policies to address its downsides.

Also Read: Essay on Unity in Diversity in 100 to 200 Words

Essay on Globalisation in 200 Words

Globalization, a multifaceted phenomenon, has reshaped the world over the past few decades. It involves the interconnectedness of economies, cultures, and societies across the globe. In this essay, we will briefly discuss its key aspects and impacts.

Economically, globalization has led to increased international trade and investment. It has allowed companies to expand operations globally, leading to economic growth in many countries. However, it has also resulted in income inequality and job displacement in some regions.

Culturally, globalization has facilitated the exchange of ideas, values, and traditions. This has led to a more diverse and interconnected world where cultures blend, but it can also challenge local traditions and languages.

Socially, globalization has improved access to information and technology. It has connected people across borders, enabling global activism and awareness of worldwide issues. Nonetheless, it has also created challenges like cybercrime and privacy concerns.

In conclusion, globalization is a double-edged sword. It offers economic opportunities, cultural exchange, and global connectivity, but it also brings about disparities, cultural tensions, and new global challenges. To navigate this complex landscape, the world must strive for responsible globalization that balances the interests of all stakeholders and promotes inclusivity and sustainability.

Related Articles

The movement of goods, technologies, information, and jobs between countries is referred to as globalisation. 

Globalization as a phenomenon began with the earliest human migratory routes, or with Genghis Khan’s invasions, or travel across the Silk Road.

Globalisation allows wealthy nations to access cheaper labour and resources, while also providing opportunity for developing and underdeveloped nations with the jobs and investment capital they require.

For more information on such interesting topics, visit our essay-writing page and follow Leverage Edu ! 

Malvika Chawla

Malvika is a content writer cum news freak who comes with a strong background in Journalism and has worked with renowned news websites such as News 9 and The Financial Express to name a few. When not writing, she can be found bringing life to the canvasses by painting on them.

Leave a Reply Cancel reply

Save my name, email, and website in this browser for the next time I comment.

Contact no. *

Connect With Us

45,000+ students realised their study abroad dream with us. take the first step today..

Resend OTP in

Need help with?

Study abroad.

UK, Canada, US & More

IELTS, GRE, GMAT & More

Scholarship, Loans & Forex

Country Preference

New Zealand

Which English test are you planning to take?

Which academic test are you planning to take.

Not Sure yet

When are you planning to take the exam?

Already booked my exam slot

Within 2 Months

Want to learn about the test

Which Degree do you wish to pursue?

When do you want to start studying abroad.

January 2024

September 2024

What is your budget to study abroad?

How would you describe this article ?

Please rate this article

We would like to hear more.

Have something on your mind?

Make your study abroad dream a reality in January 2022 with

India's Biggest Virtual University Fair

Essex Direct Admission Day

Why attend .

Don't Miss Out

• About Project
• Testimonials

Business Management Ideas

Essay on Globalisation

List of essays on globalisation, essay on globalisation – definition, existence and impact (essay 1 – 250 words), essay on globalisation (essay 2 – 250 words), essay on globalisation – in india (essay 3 – 400 words), essay on globalisation – objectives, advantages, disadvantages and conclusion (essay 4 – 500 words), essay on globalisation – for school students (class 6,7,8,9 and 10) (essay 5 – 600 words), essay on globalisation (essay 6 – 750 words), essay on globalisation – for college and university students (essay 7 – 1000 words), essay on globalisation – for ias, civil services, ips, upsc and other competitive exams (essay 8 – 1500 words).

The worldwide integration of people, services and interests is what globalisation is all about. Since the last decade, there has been a tremendous focus on globalisation with everyone trying to have a reach at even the remotest locations of the world. This has probably been possible due to the advancement in technology and communication.

Audience: The below given essays are especially written for school, college and university students. Furthermore, those students preparing for IAS, IPS, UPSC, Civil Services and other competitive exams can also increase their knowledge by studying these essays.

The word ‘Globalization’ is often heard in the business world, in corporate meetings, in trade markets, at international conferences, in schools, colleges and many other places. So what does globalization symbolize? Is it a new concept or did it exist earlier? Let’s see.

Definition:

Globalization refers to the integration of the world nations by means of its people, goods, and services. The statement – ‘ globalization has made the world a small village ’ is very true.

Countries inviting foreign investment, free trade and relaxation in the visa rules to allow seamless movement of people from one country to another are all part of globalization.

In a nutshell, globalization has reduced the distance between nations and its people.

Many among us refer to the current period that we live in as ‘The Era of Globalization’ and think that the process of globalization has started only recently. But the real fact is that globalization is not a new phenomenon . The world was moving towards globalization from a very long time. The term globalization was in existence since mid-1980s. But it was only from the early 21 st century that globalization picked up momentum due to the advancements in technology and communication.

Impact of Globalization:

Globalization has more positive outcomes than the negative ones. The impact of globalization on the developing countries such as India, China and some African countries are overwhelming. Foreign investments have created a lot of employment opportunities in the developing countries and have boosted their economy. Globalization has also enabled people to interchange their knowledge and culture.

Conclusion:

Although the world is not completely globalized, we can very well say that globalization is the best way to achieve equality among nations.

In simple words, globalization means the spreading of a business, culture, or any technology on an international level. When the boundaries of countries and continents matter no more, and the whole world becomes one global village in itself. Globalization is an effort to reduce the geographical and political barriers for the smooth functioning of any business.

There are four main factors that form the four pillars of globalization. These are the free flow of goods, capitals, technology, and labors, all across the world. Although, many of the experts that support globalization clearly refuse to acknowledge the free flow of labor as their work culture.

The international phenomenon of global culture presents many implications and requires a specific environment to flourish. For instance, it needs the other countries to come to a mutual agreement in terms of political, cultural, and economic policies. There is greater sharing of ideas and knowledge and liberalization has gained a huge importance.

Undoubtedly, globalization helps in improving the economic growth rate of the developing countries . The advanced global policies also inspire businesses to work in a cost-effective way. As a result, the production quality is enhanced and employment opportunities are also rising in the domestic countries.

However, there are still some negative consequences of globalization that are yet to be dealt with. It leads to greater economic and socio-cultural disparities between the developed and the developing countries. Due to the MNC culture, the small-scale industries are losing their place in the market.

Exchanges and integration of social aspect of people along with their cultural and economic prospects is what we term as Globalization. It is considered as a relatively new term, which has been in discussion since the nineties.

Initial Steps towards Globalization:

India has been an exporter of various goods to other countries since the earlier times. Hence Globalization, for India, is not something new. However, it was only around in the early nineties that India opened up its economy for the world as it faced a major crisis of severe crunch of foreign exchange. Since then, there has been a major shift in the government’s strategies while dealing with the PSUs along with a reduction in the monopoly of the government organisations perfectly blended with the introduction of the private companies so as to achieve a sustainable growth and recognition across the world.

The Measurement of Success:

The success of such measures can be measured in the form of the GDP of India which hovered around 5.6% during the year 1990-91 and has been now around 8.9% during the first quarter of 2018-19. In fact, in the year 1996-97, it was said to have peaked up to as high as 77.8%. India’s global position is improved tremendously due to the steady growth in the GDP thus furthering the impact of globalization on India. As on date, India is ranked as the sixth biggest economy in the world. This globalization leading to the integration and trade has been instrumental in reducing the poverty rate as well.

However, given the fact that India is the second most populated country of the world, after China, this growth cannot be considered as sufficient enough as other countries such as China have increased their growth rates at much faster pace than India. For instance, the average flow of FDI in India, over the past few years has been around 0.5% of the GDP while for countries such as China it has been around 5% and Brazil has had a flow of around 5.5%. In fact, India is considered among the least globalized economy among the major countries.

Summarily, there has been a tremendous increase in the competition and interdependence that India faces due to Globalization, but a lot is yet to be done. It is not possible for a country to ignore the developments and globalization occurring in the rest of the world and one need to keep the pace of growth at a steady rate or else you may be left far behind.

The twentieth century witnessed a revolutionary global policy aiming to turn the entire globe into a single market. The motive of globalization can broadly define to bring substantial improvement in the living condition of people all around the world, education, and shelter to everybody, elimination of poverty, equal justice without any race or gender consideration, etc. Globalization also aims to lessen government involvement in various development activities, allowing more direct investors/peoples’ participation cutting across border restrictions thus expected to reap reasonable prosperity to human beings.

Main Objectives of Globalization:

The four main aspects of globalization are; Capital and Investment movements, Trade and Transactions, Education and Spread of knowledge, along with Migration and Unrestricted Movement of People.

In simpler terms, globalization visualizes that one can purchase and sell goods from any part of the world, communicate and interact with anyone, anywhere in the world and also enables cultural exchange among the global population. It is operational at three levels namely, economic globalization, cultural globalization, and political globalization. Right from its inception, the impact of globalization has both advantages and disadvantages worldwide.

Advantages of Globalization:

As the word itself suggests, this policy involves all the nations across the globe. The lifting of trade barriers can have a huge impact especially in developing countries. It augments the flow of technology, education, medicines, etc., to these countries which are a real blessing.

Globalization expects to create ample job opportunities as more and more companies can extend their presence to different parts of the world. Multinational companies can establish their presence in developing countries. Globalization gives educational aspirants from developing and underdeveloped countries more quality learning opportunities. It leads not only to the pursuit of best higher education but also to cultural and language exchanges.

Globalization also enhances a faster flow of information and quick transportation of goods and services. Moreover one can order any item from anywhere merely sitting at home. Another plus point of globalization is the diminishing cultural barriers between nations as it offers free access and cultural interactions . Also, it has been observed that there is a considerable reduction of poverty worldwide due to globalization . In addition to this, it also enables the effective use of resources.

Disadvantages of Globalization:

Globalization turned out to be a significant threat to the cottage and small-scale industries as they have to compete with the products of multi-national companies. Another dangerous effect of globalization is the condition of weak sections of the society, as they are getting poorer and the rich are getting richer. The situation leads to the domination of economically rich countries over emerging countries and the increase of disparity.

The actions of multi-national companies are deplorable and always facing criticism from various social, government and world bodies as they are incompetent in offering decent working conditions for the workers. Irrational tapping of natural resources which are instrumental in causing ecological imbalance is another major accusation against multi-national companies.

Globalization is also blamed to have paved the way for human trafficking, labor exploitation and spread of infectious diseases too. In addition to all these, if any economic disaster hit a country and if they subsequently suffer from economic depression, its ripples are felt deeply in other countries as well.

Despite all its disadvantages, globalization has transformed the entire globe into a single market irrespective of its region, religion, language, culture, and diversity differences. It also leads to an increase in demand for goods, which in turn calls for more production and industrialization. Our focus should be to minimize the risks and maximize the positive outcome of global policy, which in turn can help for a sustainable long-standing development for people all around the world.

Introduction:

Globalization is the procedure of global political, economic, as well as cultural incorporation of countries . It lets the producers and manufacturers of the goods or products to trade their goods internationally without any constraint.

The businessman fetches huge profit as they easily get low price workforce in developing nations with the concept of globalization. It offers a big prospect to the firms who wish to deal with the global market. Globalization assists any nation to contribute, set up or amalgamate businesses, capitalize on shares or equity, vending of services or products in any country.

How does the Globalization Work?

Globalization benefits the international market to the entire deliberate world like a solitary marketplace. Merchants are spreading their extents of trade by aiming world as a worldwide community. In the 1990s, there was a limit of importing some goods that were already mass-produced in India such as engineering goods, agricultural products, toiletries, food items, etc.

But, in the 1990s the rich countries pressurize the WTO (World Trade Organization), World Bank (affianced in improvement financing activities), and IMF (International Monetary Fund) to let other nations spread their trades by introducing market and trade in the deprived and emerging countries. The process of liberalization and globalization in India began in the year 1991 below the Union Finance Minister Mr. Manmohan Singh.

After numerous years, globalization has fetched major uprising inside the Indian marketplace when international brands arrived in India such as KFC, PepsiCo, Mc. Donald, Nokia, IBM, Aiwa, Ericsson, etc., and began the delivery of an extensive variety of quality goods at low-cost rates.

The entire leading brands presented actual uprising of globalization at this time as a marvellous improvement to the economy of an industrial sector. Rates of the quality goods were also getting low owing to the cut-throat war happening in the marketplace.

Liberalization and globalization of the businesses in the Indian marketplace is submerging the quality of imported goods but influencing the local Indian businesses badly in large part causing the job loss of illiterate and poor labors. Globalization has remained a goldmine for the customers, but it is also a burial ground for the small-scale manufacturers in India.

Positive Influences of Globalisation:

Globalization has influenced the education sectors and students of India predominantly by making accessible the education material and enormous info on the internet. Association of Indian universities with the overseas universities has fetched a massive modification in the education business.

The health industries are too influenced enormously by the globalization of health observing electronic apparatuses, conventional drugs, etc. The trade globalization in the agricultural sector has provided a range of high-quality seeds possessing disease-fighting property. But, it is not beneficial for the underprivileged Indian agriculturalists owing to the reason of expensive seeds as well as agricultural equipment.

Globalization has given an enormous rebellion to the occupation sector by increasing the growth of trades related to the handloom , cottage, artisans and carving, carpet, jewellery, ceramics, and glassware, etc.

Globalization is definitely required by the people and nation to progress and turn into an established society and country. It benefits in expanding our visualization and thoughts. It also aids in endorsing the philosophy that we fit in a huge crowd of persons, i.e., the humankind. Once the two nations congregate, they flourish by sharing their beliefs, thoughts, opinions, customs, and behaviors. People come to know new things and also acquire a chance to discover and get acquainted with other values.

Globalization has provided many reasonably priced valued goods and complete economic welfares to the emerging nations in addition to the employment. But, it has also given growth to the crime, competition, terrorism, anti-national activities, etc. Thus, along with the pleasure it has supplied some grief too.

Globalization is a term that we hear about every now and then. Question is; do we really know what it is all about? Globalization is defined as the process of integration and interaction among people, cultures and nations who come together in order to get things done easily through contact. Globalization began with the migration of people from Africa to different parts of the world. Global developments have been achieved in various sectors through the different types of globalization. The effects of globalization have been felt in every part of the world and more people continue to embrace it. Globalization has some of its core elements that help in the process.

Types of Globalization:

Globalization does not just transform a sector unless the strategies are related to that specific sector. The first type of globalization is financial and economic globalization whereby interaction takes place in the financial and economic sectors especially through stock market exchange and international trade. The other type is technological globalization which involves the integration and connection of different nations through technological methods like the internet. Political globalization transforms the politics of a nation through interactions with adoption of policies and government that cut across other nations. Cultural globalization is basically the interaction of people from different cultures and sharing. Ecological globalization is the viewing of the earth as one ecosystem and sociological globalization is on equality for all people.

Elements of Globalization:

Globalization works with characteristic elements. Trade agreements is one of the components that significantly benefits the economic and financial globalization. These trade agreements have been designed to promote and sustain globalization by preventing barriers that inhibit trade among nations or regions. Another element is capital flow that is concerned with the measures of either a decline or a rise in domestic or foreign assets. Migration patterns is a socio-economical and cultural element that monitors the impacts of immigration and emigration actively. The element of information transfer involves communications and maintains the functioning of the markets and economies. Spread of technology is an element of globalization that facilitates service exchanges. Without these elements, globalization would have faced many challenges, which would even stagnate the process of globalization.

Impacts of Globalization:

The impact of globalization is felt differently among individuals but the end result will be either positive or negative. Globalization has impacts on the lives of individuals, on the aspects of culture, religions and education. The positive impacts of globalization include the simplification of business management through efficiency. In business, the quality of goods and services has increased due to global competition. Foreign investment has been facilitated by globalization and the global market has been able to expand. Cultural growth has been experienced through intermingling and accommodation. Interdependence among nations has developed and more people have been exposed to the exchange program between nations. Improvement of human rights and legal matters has improved through media and technology sharing. Poverty has been alleviated in developing countries due to globalization and also employment opportunities are provided. Through technology, developments have been positively influenced in most parts of the world.

Although globalization has positive impacts, the negative impacts will remain constant unless solutions are sought. One of the negative effects of globalization is job insecurity for some people. Through globalization, more innovations are achieved, for e.g., technology causes automation and therefore people get replaced and they lack jobs. Another negative impact is the frequent fluctuation of prices of commodities that arises from global competitions. On the cultural side, the fast food sector has become wide spread globally, which is an unhealthy lifestyle that was adopted due to globalization. Also, Culture has been negatively affected for people in Africa because they tend to focus more on adopting the western culture and ignore their cultural practices.

Possible Solutions to the Negative Impacts of Globalization:

Globalization has impacted the society negatively and some of the solutions might help to mitigate the impacts. When adopting cultures from other people, it is important to be keen on the effects of the culture on the people and the existing culture being practiced. For example, Africans should not focus more of the western culture such that they ignore their own culture.

In conclusion, it is evident that globalization results in both negative and positive consequences. The society should embrace the positive and mitigate the negative impacts. Globalisation is a dynamic process which involves change, so flexibility among people is a must.

The buzzword befitted to describe the growth of Modern Indian economy is ‘Globalization’. But what exactly is Globalization? Globalization can be defined as integrating the economy of a country with the rest of the countries of the world. From the Indian perspective, this implies encouraging free trade policies, opening up our economy to foreign direct investment, removing constraints and obstacles to the entry of multinational corporations in India, also allowing Indian companies to set up joint ventures abroad, eliminating import restrictions, in-short encouraging Free Trade policies.

India opened its markets to Global Trade majorly during the early Nineties after a major economic crisis hit the country. New economic reforms were introduced in 1991 by then Prime Minister Shri. P V. Narasimha Rao and Finance Minister at the time, Dr. Manmohan Singh. In many ways, the new economic policies positively contributed to the implementation of the concept of Globalization in India.

It’s Impact:

1. Economic Impact :

Globalization in India targets to attract Multinational Companies and Institutions to approach Indian markets. India has a demography with a large workforce of young citizens who  are in need of jobs. Globalization has indeed left a major impact in the jobs sector. Indian companies are also expanding their business all over the world. They are driving funds from the bigwigs of the Global economy.

The Best example in today’s time is OYO Rooms, a budding Indian company in the hospitality sector. OYO Rooms recently made headlines when it declared to raise a fund close to $1 Billion from Japan’s Soft Bank Vision Fund. Globalization has also led the Indian Consumer market on the boom. The Giant of FMCG (fast-moving consumer goods) sector WALMART is also enthusiastic and actively investing in the India market.

2. Socio-Cultural impact on the Indian Society:

The world has become a smaller place, thanks to the social networking platforms blooming of the internet. India is a beautiful country which takes immense pride in “Unity in Diversity” as it is home to many different cultures and traditions. Globalization in India has left a lasting impression on the socio-cultural aspect of Indian society.

Food chains like McDonald’s are finding its way to the dining tables. With every passing day, Indians are indulging more and more in the Western culture and lifestyle. But Globalization in India has also provided a vibrant World platform for Indian Art, Music, Clothing, and Cuisine.

The psychological impact on a common Indian Man: The educated youth in India is developing a pictorial identity where they are integrating themselves with the fast-paced, technology-driven world and at the same time they are nurturing the deep roots of Indian Culture. Indians are fostering their Global identity through social media platforms and are actively interacting with the World community. They are more aware of burning issues like Climate Change, Net neutrality, and LGBT rights.

Advantages:

India has taken the Centre Stage amongst the Developing Nations because of its growing economy on the World Map. Globalization in India has brought tremendous change in the way India builds its National and International policies. It has created tremendous employment opportunities with increased compensations.

A large number of people are hired for Special Economic Zones (SEZs), Export Processing Zones (EPZs), etc., are set up across the country in which hundreds of people are hired. Developed western countries like USA and UK outsource their work to Indian companies as the cost of labour is cheap in India. This, in turn, creates more employment. This has resulted in a better standard of living across the demographic of young educated Indians. The Indian youth is definitely empowered in a big way.

Young lads below the age of 20 are now aspiring to become part of global organizations. Indian culture and morals are always strengthening their roots in modern world History as the world is now celebrating ‘International Yoga Day’ on 21st June every year. Globalization in India has led to a tremendous cash flow from Developed Nations in the Indian market. As a positive effect, India is witnessing the speedy completion of Metro projects across the country. Another spectacular example of newly constructed High-end Infrastructure in the country is the remarkable and thrilling ‘Chenani-Nashri Tunnel’, Longest Tunnel in India constructed in the State of Jammu and Kashmir. Globalization has greatly contributed in numerous ways to the development of Modern India.

Disadvantages:

As there are so many pros we cannot turn a blind eye to the cons of Globalization which are quite evident with the Indian perspective. The worst impact is seen in the environment across Indian cities due to heavy industrialization. Delhi, the capital of India has made headlines for the worst ever air pollution, which is increasing at an alarming rate.

India takes pride in calling itself an Agriculture oriented nation, but now Agriculture contributes to fragile 17% of the GDP. Globalization in India has been a major reason for the vulnerable condition of Indian Farmers and shrinking Agriculture sector. The intrusion of world players and import of food grains by the Indian Government has left minimal space for Indian farmers to trade their produce.

The impact of westernization has deeply kindled individualism and ‘Me factor’ and as a result, the look of an average Indian family has changed drastically where a Nuclear family is preferred over a traditional Joint family. The pervasive media and social networking platforms have deeply impacted the value system of our country where bigotry and homophobia are becoming an obvious threat.

One cannot clearly state that the impact of Globalization in India has been good or bad as both are quite evident. From the economic standpoint, Globalization has indeed brought a breath of fresh air to the aspirations of the Indian market. However, it is indeed a matter of deep concern when the Indian traditions and value system are at stake. India is one of the oldest civilizations and World trade has been the keystone of its History. Globalization must be practiced as a way towards development without compromising the Indian value system.

Globalisation can simply be defined as the process of integration and interaction between different people, corporations and also governments worldwide. Technology advancement which has in turn advanced means of communication and transportation has helped in the growth of globalisation. Globalisation has brought along with it an increase in international trade, culture and exchange of ideas. Globalisation is basically an economic process that involves integration and interaction that deals also with cultural and social aspects. Important features of globalisation, both modern and historically are diplomacy and conflicts.

In term of economy, globalisation involves services and goods, and the resources of technology, capital and data. The steamship, steam locomotive, container ship and jet engine are a few of the many technological advances in transportation while the inception of the telegraph and its babies, mobile phones and the internet portray technological advances in communications. These advancements have been contributing factors in the world of globalisation and they have led to interdependence of cultural and economic activities all over the world.

There are many theories regarding the origin of globalisation, some posit that the origin is in modern times while others say that it goes way back through history before adventures to the new world and the European discovery age. Some have even taken it further back to the third millennium. Globalisation on a large-scale began around the 1820s. Globalisation in its current meaning only started taking shape in the 1970s. There are four primary parts of globalisation, they are: transactions and trade, investments and capital movement, movement and migration of people and the circulation of knowledge and information. Globalization is subdivided into three: economic globalisation, political globalisation and cultural globalisation.

There are two primary forms of globalisation: Archaic and Modern Globalisations. Archaic globalisation is a period in the globalisation history from the period of the first civilisations until around the 1600s. Archaic globalisation is the interaction between states and communities and also how they were incepted by the spread by geography of social norms and ideas at different levels.

Archaic globalisation had three major requirements. First is the Eastern Origin idea, the second is distance, the third is all about regularity, stability and inter-dependency. The Silk Road and trade on it was a very important factor in archaic globalisation through the development of various civilisations from Persia, China, Arabia, Indian subcontinent and Europe birthing long distance economic and political relationships between them. Silk was the major item from China along the Silk Road; other goods such as sugar and salt were also traded.

Philosophies, different religious beliefs and varying technologies and also diseases also moved along the Silk Road route. Apart from economic trade, the Silk Road also was a means of cultural exchange among the various civilisations along its route. The cultural exchange was as a result of people’s movement including missionaries, refugees, craftsmen, robbers, artists and envoys, resulting in religions, languages, art and new technologies being exchanged.

Modern globalisation can be sub-divided into early modern and Modern. Early modern globalisation spans about 200 years of globalisation between 1600 and 1800. It is the period of cultural exchange and trade links increasing just before the modern globalisation of the late 19 th century. Early modern globalisation was characterised by Europeans empires’ maritime of the 16 th and 17 th centuries. The Spanish and Portuguese Empires were the first and then we had the British and Dutch Empires. The establishment of chartered companies (British East India Company and the Dutch East India Company) further developed world trade.

Modern Globalisation of the 19 th century was as a result of the famed Industrial Revolution. Railroads and steamships made both local and international transportation easier and a lot less expensive which helped improve economic exchange and movement of people all over the world, the transportation revolution happened between 1820 and 1850. A lot more nations have embraced global trade. Globalisation has been shaped decisively by the imperialism in Africa and in Asia around the 19 th century. Also, the ingenious invention in 1956 of the shipping container has really helped to quicken the advancement of globalisation.

The Bretton Woods conference agreement after the Second World War helped lay the groundwork for finance, international monetary policy and commerce and also the conception of many institutions that are supposed to help economic growth through lowering barriers to trade. From the 1970s, there has been a drop in the affordability of aviation to middle class people in countries that are developed. Also, around the 1990s, the cost of communication networks also drastically dropped thus lowering the cost of communicating between various countries. Communication has been a blessing such that much work can be done on a computer in different countries and the internet and other advanced means of communications has helped remove the boundary of distance and cost of having to travel and move from place to place just to get business done.

One other thing that became popular after the Second World War is student exchange programmes which help the involved students learn about, understand and tolerate another culture totally different from theirs, it also helps improve their language skills and also improve their social skills. Surveys have shown that the number of exchange students have increased by about nine times between 1963 and 2006.

Economic globalisation is differentiated from modern globalisation by the information exchange level, the method of handling global trade and expansionism.

Economic Globalisation:

Economic globalisation is just the ever increasing interdependence of economies of nations worldwide caused by the hike in movement across borders of goods, services, capital and technology. Economic globalisation is basically the means of increasing economic relationships between countries, giving rise to the birth of a single or global market. Based on the worldview, Economic globalisation can be seen as either a negative or positive thing.

Economic globalisation includes: Globalisation of production; which is getting services and goods from a source from very different locations all over the world to gain from the difference in quality and cost. There is globalisation of markets; which is the coming together of separate and different markets into one global market. Economic globalisation includes technology, industries, competition and corporations.

Globalisation today is all about less developed countries and economies receiving FDI (Foreign Direct Investment) from the more developed countries and economies, reduction in barriers to trade and to particular extent immigration.

Political Globalisation:

Political globalisation is going to on-the-long-run drop the need for separate nation or states. Institutions like the International Criminal court and WTO are beginning to replace individual nations in their functions and this could eventually lead to a union of all the nations of the world in a European Union style.

Non-governmental organisations have also helped in political globalisation by influencing laws and policies across borders and in different countries, including developmental efforts and humanitarian aid.

Political globalisation isn’t all good as some countries have chosen to embrace policies of isolation as a reactionary measure to globalisation. A typical example is the government of North Korea which makes it extremely difficult and hard for foreigners to even enter their country and monitor all of the activities of foreigners strictly if they allow them in. Citizens are not allowed to leave the country freely and aid workers are put under serious scrutiny and are not allowed in regions and places where the government does not want them to enter.

Intergovernmentalism is the treatment of national governments and states as the major basic factors for integration. Multi-level governance is the concept that there are many structures of authority interacting in the gradual emergence of political globalisation.

Cultural Globalisation:

Cultural globalisation is the transmission of values, ideas and meanings all over the world in a way that intensify and extend social relations. Cultural globalisation is known by the consumption of different cultures that have been propagated on the internet, international travel and culture media. The propagation of cultures helps individuals to engage in social relations which break regional boundaries. Cultural globalisation also includes the start of shared knowledge and norm which people can identify their cultures collectively; it helps foster relationships between different cultures and populations.

It can be argued that cultural globalisation distorts and harms cultural diversity. As one country’s culture is inputted into another country by the means of globalisation, the new culture becomes a threat to the cultural diversity of the receiving country.

Globalisation has made the world into one very small community where we all interact and relate, learn about other cultures and civilisations different from ours. Globalisation has helped improve the ease of doing business all around the world and has made the production of goods and services quite easy and affordable. Globalisation isn’t all good and rosy as it can be argued that Globalisation is just westernisation as most cultures and beliefs are being influenced by the western culture and belief and this harms cultural diversity. Nevertheless, the good of globalisation outweighs the bad so globalisation is actually a very good thing and has helped shape the world as we know it.

Economics , Globalisation

Get FREE Work-at-Home Job Leads Delivered Weekly!

Join more than 50,000 subscribers receiving regular updates! Plus, get a FREE copy of How to Make Money Blogging!

Message from Sophia!

Like this post? Don’t forget to share it!

Here are a few recommended articles for you to read next:

• Which is More Important in Life: Love or Money | Essay
• Essay on My School
• Essay on Solar Energy
• Essay on Biodiversity

No comments yet.

Leave a reply click here to cancel reply..

You must be logged in to post a comment.

Billionaires

• Donald Trump
• Warren Buffett
• Email Address
• Free Stock Photos
• Keyword Research Tools
• URL Shortener Tools
• WordPress Theme

Book Summaries

• How To Win Friends
• Rich Dad Poor Dad
• The Code of the Extraordinary Mind
• The Luck Factor
• The Millionaire Fastlane
• The ONE Thing
• Think and Grow Rich
• 100 Million Dollar Business
• Business Ideas

Digital Marketing

• Mobile Addiction
• Social Media Addiction
• Computer Addiction
• Drug Addiction
• Internet Addiction
• TV Addiction
• Healthy Habits
• Morning Rituals
• Wake up Early
• Cholesterol
• Reducing Cholesterol
• Fat Loss Diet Plan
• Reducing Hair Fall
• Sleep Apnea
• Weight Loss

Internet Marketing

• Email Marketing

Law of Attraction

• Subconscious Mind
• Vision Board
• Visualization

Law of Vibration

• Professional Life

Motivational Speakers

• Bob Proctor
• Robert Kiyosaki
• Vivek Bindra
• Inner Peace

Productivity

• Not To-do List
• Project Management Software
• Negative Energies

Relationship

• Getting Back Your Ex

Self-help 21 and 14 Days Course

Self-improvement.

• Body Language
• Complainers
• Emotional Intelligence
• Personality

Social Media

• Project Management
• Anik Singal
• Baba Ramdev
• Dwayne Johnson
• Jackie Chan
• Leonardo DiCaprio
• Narendra Modi
• Nikola Tesla
• Sachin Tendulkar
• Sandeep Maheshwari
• Shaqir Hussyin

Website Development

Wisdom post, worlds most.

• Expensive Cars

Our Portals: Gulf Canada USA Italy Gulf UK

Privacy Overview

Home — Essay Samples — Sociology — Globalization

Essays on Globalization

Hook examples for globalization essays, "the global village" metaphor hook.

"In the age of globalization, our world has transformed into a 'global village.' Explore the implications of this metaphor and how it has reshaped our understanding of interconnectedness and cultural exchange."

The Impact of Digital Connectivity Hook

"In an era where a single tweet can reach millions, digital connectivity has revolutionized globalization. Delve into the profound impact of the internet, social media, and technology on global interactions."

The Paradox of Local vs. Global Hook

"Globalization blurs the lines between local and global identities. Analyze the paradox of preserving cultural heritage while embracing the globalized world and how this tension shapes our societies."

The Global Marketplace Hook

"Globalization has ushered in an era of unprecedented trade and economic interconnectedness. Explore the dynamics of the global marketplace, from multinational corporations to supply chains spanning continents."

Cultural Fusion and Identity Hook

"Globalization has led to a melting pot of cultures, but what happens to cultural identities in the process? Investigate how globalization impacts the preservation and evolution of cultural identities."

The Challenges of Globalization Hook

"While globalization offers numerous benefits, it also presents challenges. Examine issues such as income inequality, cultural homogenization, and environmental concerns that arise in a globalized world."

The Future of Globalization Hook

"As we stand on the brink of a globalized future, what can we expect? Join me in exploring the potential trajectories of globalization, from its impact on politics to the role of emerging technologies."

The Best Globalization Essay Topics

• The Impact of Globalization on Local Cultures: Integration or Erasure?
• The Impact of Globalization on Cultural Identity in Anthropological Studies
• Globalization and Economic Inequality: Bridging the Gap Between Rich and Poor
• The Role of Technology in Advancing Globalization and Its Social Implications
• Environmental Consequences of Globalization: Challenges and Sustainable Solutions
• Analyzing the Advantages and Disadvantages of Globalization
• The Influence of Globalization on Education and Cross-Cultural Exchanges
• Global Political Dynamics: How Globalization Affects Sovereignty and Governance
• Globalization and Health: The Spread of Diseases and Global Health Initiatives
• Consumer Culture and Globalization: The Homogenization of Global Markets

Globalization: a Double-edged Sword

Ted talk: diversity of culture in the ethnosphere, made-to-order essay as fast as you need it.

Each essay is customized to cater to your unique preferences

+ experts online

Globalization and The Rise of Madonal

The effects of globalization on developing countries and its advantages and disadvantages, the impact of globalization to cultural identity, globalization, its causes and effects on the world, let us write you an essay from scratch.

• 450+ experts on 30 subjects ready to help
• Custom essay delivered in as few as 3 hours

Good and Bad Impact of Globalization

History of globalization and its benefits for society, financial, social and political effects of globalization, globalization: global concerns of global development, get a personalized essay in under 3 hours.

Expert-written essays crafted with your exact needs in mind

Globalization's Theories and Effects in The Modern World

The effects of globalization on health and medicine, a study on globalization and its various sides, overview of five articles about globalization, globalization: two sides of the arguments both for and against, globalization and its positive and negative sides for india, the advantages and disadvantages of the globalization process based on real-life examples, criticism and controversial benefits of globalization, globalization: importance of english nowadays, the impact of globalization, nationalism and protectionism on india, an overview of the overall impact of globalization, research of effects of globalization on the media in the world, globalisation as an economical, political and cultural process, pro globalist and anti globalist view from developed country perspective, how global issues impact individual states, electronic commerce in the globalization era, the effect of globalization and americanization on mass media, components of globalization: concept sociocultural and social globalizations, how the impact of globalization on illicit drug trafficking has affected international security, discussion of whether globalization is good or bad for the indian economy.

1. Halliday, T. C., & Osinsky, P. (2006). Globalization of law. Annu. Rev. Sociol., 32, 447-470. (https://www.annualreviews.org/doi/abs/10.1146/annurev.soc.32.061604.123136) 2. Fischer, S. (2003). Globalization and its challenges. American Economic Review, 93(2), 1-30. (https://www.aeaweb.org/articles?id=10.1257/000282803321946750) 3. Lang, M. (2006). Globalization and its history. The Journal of Modern History, 78(4), 899-931. (https://www.journals.uchicago.edu/doi/abs/10.1086/511251?journalCode=jmh) 4. Spring, J. (2008). Research on globalization and education. Review of educational research, 78(2), 330-363. (https://journals.sagepub.com/doi/abs/10.3102/0034654308317846?journalCode=rera) 5. Scott, A., & Storper, M. (2003). Regions, globalization, development. Regional studies, 37(6-7), 579-593. (https://www.tandfonline.com/doi/abs/10.1080/0034340032000108697a) 6. Jameson, F. (1998). Notes on globalization as a philosophical issue. In The cultures of globalization (pp. 54-78). Duke University Press. (https://www.degruyter.com/document/doi/10.1515/9780822378426-005/html?lang=de) 7. Frankel, J. A. (2003). The environment and globalization. (https://www.nber.org/papers/w10090) 8. Teeple, G. (2000). What is globalization?. Globalization and its discontents, 9-23. (https://link.springer.com/chapter/10.1057/9780333981610_2)

Relevant topics

• Sociological Imagination
• Stereotypes
• Sociological Perspective
• Social Change
• Modern Society
• Effects of Social Media
• Cultural Appropriation
• Social Justice

By clicking “Check Writers’ Offers”, you agree to our terms of service and privacy policy . We’ll occasionally send you promo and account related email

No need to pay just yet!

Bibliography

We use cookies to personalyze your web-site experience. By continuing we’ll assume you board with our cookie policy .

• Instructions Followed To The Letter
• Deadlines Met At Every Stage
• Unique And Plagiarism Free

Excellent essay writing blog for students seeking help with paper writing. We provide exclusive tips and ideas that can help create the best essay possible.

Globalization Essay Explained: Great Tips And Examples

Writing an essay on globalization is very common. Globalization is a broad subject, and you need to narrow down the essay topic. 

As a concept and topic, globalization has had an immense impact on the running of the world today. These days, people consume products made by manufacturers who are miles away in other countries, and this is a result of globalization.

Globalization is a common topic in business and economics books

Thus, it’s ideal for teachers to assign students essays on globalization. Such pieces not only improve the writing ability of students but also help learners to understand the way the world works. Thus, it’s necessary to ensure globalization is one of the topics in class.

The Best Way To Start Writing An Essay On Globalization

Most students find it challenging to write a good essay. Besides, students usually complain about the difficulty of creating a good introduction to a topic. Starting an essay isn’t always easy, which is why most students look for essay writing help.

Introductions are a crucial part of an essay because they reveal the focus of the writer and determine whether an audience will read the entire paper or not. That’s why writers should be cautious about basing their essays on facts and research.

Tips For Starting A Globalization Essay

Carry out extensive research on the globalization topic you want to write about.

Create an outline with all the arguments and points you would like to include in the essay.

If definitions are required (confirm from the grading rubric), include them in the introduction. While some people would give a dictionary definition, it’s advisable to write yours.

An Example Of The Definition O f Globalization

Globalization refers to the process of integration and interaction among governments, organizations, and people worldwide. 

The creation of agencies by governments that create opportunities for local citizens to interact with people from distant continents is the foundation of globalization.

But originally, globalization is anchored on technology advancement and innovations. The major aspect of globalization that has evolved is employment. In certain aspects, globalization has amplified employment to a huge extent, reaching heights that no one ever thought about before.

Narrow the topic’s scope. Don’t sound too generic or vague in the article.

Come up with a clear and suitable thesis statement before starting your essay. It will help you create other supportive points or arguments.

Make the introduction precise. Instead of including excessive information in the introduction, provide adequate details to keep the reader interested.

While writing a decent introduction can be a challenge, it isn’t impossible. By following the above tips, you may find and build a solid starting point.

How To Write Fantastic Body Paragraphs For Your Globalization Essay

In the essay body, you are supposed to write supporting arguments. The arguments develop from the main point in your thesis statement. Thus, they should improve or enrich what you chose as the primary argument.

For example, if the thesis statement was to write the adverse effects of globalization, you should dedicate each paragraph to a negative impact and elaborate it well.

In your body paragraphs, be as detailed as possible, so your essay looks comprehensive. The purpose of a globalization research paper is to develop or write this section. To write effective paragraphs in the essay body:

Use topical sentences by ensuring each paragraph highlights a specific point.

Provide detailed examples in your globalization essay

Concluding An Essay On Globalization

Similar to an introduction, crafting a conclusion can be challenging. A conclusion should leave a lasting impression on your readers. Thus, when writing a conclusion for an essay on globalization, keep the following tips in mind:

Restate the central argument or thesis statement

Give a summary of the primary arguments highlighted in the essay body

Emphasize a specific thing or main idea you would like the audience to remember once they read the paper.

Globalization Essay Or Research Paper Topics

After knowing how to write an essay on globalization, here are examples of globalization paper topics:

Describe the cultural and social indicators of globalization

What’s the impact of globalization on world politics?

How has globalization played a role in brain-drain?

Describe the effect of globalization on developing nations

Discuss the different types of globalization

Describe the impact of technology on globalization

Describe the relationship between globalization and knowledge transfer

What’s the connection between globalization and democratization? Discuss this based on developing economies.

What’s the correlation between globalization and intelligence sharing?

Does globalization affect trade? Discuss

How has globalization shaped the relationship between various countries?

Is there any connection between globalization and world peace?

How T o Use Globalization Essay Topics You Found Online

When researching globalization research paper topics, you can use the ideas found online or use them to inspire you. Remember, most people use what’s freely and easily accessed. 

In other words, most of your classmates looking for good topic ideas as you find suggestions from online platforms. To make your globalization topic unique, choose a subject, and tweak it, so it sounds different from the initial one but has the same idea. 

You can also find affordable writing help from online professional writers who will compose a wholly unique and exciting globalization topic for your essay. 

Take a break from writing.

Top academic experts are here for you.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Talk to our experts

1800-120-456-456

• Globalisation Essay

Essay on Globalisation

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is connecting in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. 

Globalization began thousands of years ago when people and companies bought and sold in distant lands. In the Middle Ages, Central Asia was connected to China and Europe via the famous Silk Road. After World War II and the last two decades, governments of many countries have adopted free-market economies. They have greatly increased their own production potential and created countless new opportunities for international trade and investment. New routes and means to transport goods have been discovered, which has allowed the people to expand their business easily and efficiently. 

The government has reduced all trade barriers and concluded new international agreements to promote trade in goods, services and investment. This profitable action has created opportunities for international trade. In foreign markets, companies with these new opportunities set up new factories and establish production and marketing relationships with foreign partners. Hence, Globalization is defined as an international industrial and financial enterprise.

Overview of Globalization

Globalization means the assimilation of economics and societies through the flow of information, ideas, technologies, goods, services, capital, finance, and people. The real meaning of Globalization in a broad sense is connectivity in all aspects of human life. It is the process where the businesses or other organizations expand international authority or start operating on an international scale.

How the Existence of Globalization Came Into Being?

Globalization had started many thousands of years ago when people and corporations were buying and selling across lands at great distances. In the middle age, Central Asia connected with China and Europe through the famed Silk Road. After the Second World War II and during the last two decades, the governments of many countries have adopted free-market economic systems. They increased their own productive potential immensely and created innumerable new opportunities for international trade and investment.

The governments have reduced all barriers to commerce and established new international agreements to promote trade in goods, services and investments. These beneficial measures gave rise to opportunities for global trade. With these new opportunities in the foreign markets, corporations established new factories and started production and marketing alliances with foreign partners. Hence, Globalization is defined as an international industrial and financial business structure.

Advantages and Disadvantages

The frontiers of the state with increased confidence in the market economy and renewed policies in the private capital and resources, a process of structural adjustment spurred by the studies and with the support of the World Bank and other international organizations have started in many of the developing countries. Globalization has also brought in new opportunities to developing countries. Greater access to developed country markets and technology transfer has promised to improve their productivity and higher standards. 

At the same time, Globalization has also created challenges like growing inequality across and within nations, instability in the financial market and environmental deterioration. Globalization is a fascinating exhibition that can be understood as a global system of competition and connectivity. It has created tough competition among countries and global corporations.

Impact of Globalization in India

The British Colonial rule had destroyed the self-sufficient economy of India and left India to be the poorest Independent country. Our first Prime Minister gave preference to a mixed economy to boost the economic condition of the country. Public sectors were set up along with the private enterprises, but because of the socialistic model of the economy, the new strategy did not produce profitable results. Due to this, a number of public sectors became sick and the growth rates of production began to fall. 

During that time, the poverty of the people in India was increasing at an alarming rate and because of low domestic savings and acute balance of payment crisis, there was no adequate capital for investment. During that time of crisis, Prime Minister PV Narsimha Rao introduced the policy of liberalization, privatization to overcome the financial situation. 

India opened up to Globalization after the economic policy of 1991 came into force. Mounting debts and pressure from the International Monetary Fund drove the nation to go global. The process of Globalization has been an integral part of the recent economic growth of India. Globalization has played a very significant role in the growth of export, leading to the expansion of the job market in India. One of the major sectors of Globalization in India has been in the growth of outsourced IT and Business Process Outsourcing services. There has been an incredible increase in the number of skilled professionals in India employed by domestic and foreign companies to cater service to the customers globally, especially in the USA and Europe. 

There was not a doubt that Globalization in India brought a monumental change in the living standards of the people. People in India realized many benefits from Globalization. The establishment of multinational companies generating billions of jobs and access to umpteen numbers of brands and an increase in the forex reserves of the country took India to a higher platform globally. Despite this monumental change in the economy of the country, India also faced the challenges of severe competition from the foreign market and the domestic producers started fearing marginalization and pulverization because of the better quality products produced by the foreign producers.

Globalization had both desirable and undesirable consequences for India and the world. Even though it has accelerated progress in some countries, it has also widened the gap between the rich and the poor.

The impact of Globalization has been both positive and negative on the entire world, but we can surely hope for more advancement in the global economy due to this process.

FAQs on Globalisation Essay

1. How Did Globalization Help India to Improve the Economic Conditions?

Globalization generated umpteen employment opportunities for the people of India by establishing multinational companies. The policy of liberalization and privatization invited foreign traders to do business with India. This has increased the inflow of men, money, material, labor, technology, etc., from foreign countries to India. People have access to foreign brands and the living standards have improved drastically.

2. How is Globalization a Threat to Domestic Producers?

The domestic producers fear marginalization and pulverization because of the entry of foreign and better quality products.

3. What are the advantages and disadvantages of Globalization?

With increasing confidence in market economies and new policies on private capital and resources, many developing countries are beginning to adapt to developments with the support of the World Bank and other international institutions involved in research and development. Globalization also offers new opportunities for developing countries. Greater access to markets in developed countries and the transfer of technology will increase their productivity and demand.

At the same time, Globalization has created challenges such as increasing inequality between and within countries, instability of financial markets and environmental degradation. Globalization is an interesting exhibition that can also be seen as a system of competition and international relations. This has created intense competition between countries and international companies. 

4. What do you mean by Globalization?

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is a connectedness in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. Globalization has its own benefits and drawbacks. We can learn more about Globalization and how to write an essay on it in detail on the Vedantu website, which has all the necessary materials that students need in order to write an essay on Globalization. 

5. How can Globalization help India improve its economic situation?

In our present times, Globalization has been a boon to many people as it not only allows companies to expand their business but also makes things accessible for everyone. In a simple sense, we can say that it helps in connecting people with the world. Globalization has created many job opportunities in India through the creation of multinational companies. Policies of liberalization and privatization have encouraged foreign traders to trade with India. This has increased the number of people, money, materials, labor, technology and so on—inflows from abroad to India. People have access to foreign brands and the standard of living has improved significantly.

6. How does Globalization threaten domestic producers?

Domestic producers are afraid of marginalization and due to the entry of foreign and better quality products into the market. Globalization can be associated with increasing income and wealth inequality. Many of the world's poorest people lack access to basic technologies and public goods. They are excluded from treatment. Some critics of globalization point to the loss of economic and cultural diversity as international multinational giants and brands dominate domestic markets in many countries. Globalization can hinder competition if international companies with dominant brands and high technology gain a foothold in key markets, be it telecommunications, the automotive industry, and so on.

7. What are the main industries that have grown tremendously because of Globalization?

The integration of national economies into the global economy is one of the most important developments of the last century. This process of integration, often referred to as Globalization, has manifested itself in a tremendous increase in cross-border trade.

The outsourcing business has grown exponentially due to Globalization. The main industries resulting from Globalization are trade and commerce. Automobile companies, clothing manufacturers and transportation, are the three main industries taken over as a result of Globalization.

IELTS Essay: Globalization

by Dave | Real Past Tests | 13 Comments

This is an IELTS writing task 2 sample answer essay on the topic of globalization from the real IELTS exam.

Please consider supporting me on Patreon.com/howtodoielts to receive my exclusive IELTS Ebooks – you can even sign up for private live lessons with me!

Globalization is positive for economies but its negative sides should not be ignored.

To what extent do you agree or disagree?

Many feel that the positives of globalization justify ignoring the downsides. In my opinion, modest benefits should not overshadow legitimate threats.

The most commonly cited advantages of globalization are economic. The argument here is that by allowing companies to operate across national borders, this is a boon to both consumers and national economies. For example, in the last several decades, many Asian countries such as Vietnam and China have allowed for foreign investment, thereby stimulating their economic growth. Individuals can enjoy a variety of products from around the world and the companies themselves contribute in the form of taxes and employment opportunities. However, many would caution that multinational companies are exploitive and have driven local businesses to bankruptcy. The overall impact for the average person is therefore uncertain.

Globalization also creates apparent cultural advantages. Individuals from all around the world can experience the latest Hollywood movies and listen to their favorite artists on applications like Spotify. This undoubtedly influences and encourages other entertainers to work hard and produce quality content. Nonetheless, it can foster a harmful homogeneity. The film industry is a prime example of this. The standard American structure for films and television shows is now copied globally and funded by powerful entertainment studios such as Netflix. These companies are almost exclusively interested in specific genres, most commonly crime and action. Over time, entertainment may become less unique and no longer showcase true diversity.

In conclusion, the cultural and economic advantages of globalization have concomitant tradeoffs. It is therefore important for each nation to carefully manage and balance their relationship to global society.

1. Many feel that the positives of globalization justify ignoring the downsides. 2. In my opinion, modest benefits should not overshadow legitimate threats.

• Paraphrase the overall essay topic.
• Write a clear opinion. Read more about introductions here .

1. The most commonly cited advantages of globalization are economic. 2. The argument here is that by allowing companies to operate across national borders, this is a boon to both consumers and national economies. 3. For example, in the last several decades, many Asian countries such as Vietnam and China have allowed for foreign investment, thereby stimulating their economic growth. 4. Individuals can enjoy a variety of products from around the world and the companies themselves contribute in the form of taxes and employment opportunities. 5. However, many would caution that multinational companies are exploitive and have driven local businesses to bankruptcy. 6. The overall impact for the average person is therefore uncertain.

• Write a topic sentence with a clear main idea at the end.
• Explain your main idea.
• Develop it with specific or hypothetical examples.
• Keep developing it fully.
• Switch to talk about the disadvantages.
• Develop that side too.

1. Globalization also creates apparent cultural advantages. 2. Individuals from all around the world can experience the latest Hollywood movies and listen to their favorite artists on applications like Spotify. 3. This undoubtedly influences and encourages other entertainers to work hard and produce quality content. 4. Nonetheless, it can foster a harmful homogeneity. 5. The film industry is a prime example of this. 6. The standard American structure for films and television shows is now copied globally and funded by powerful entertainment studios such as Netflix. 7. These companies are almost exclusively interested in specific genres, most commonly crime and action. 8. Over time, entertainment may become less unique and no longer showcase true diversity.

• Write a new topic sentence with a new main idea at the end.
• Explain your new main idea.
• Include specific details and examples.
• Continue developing it…
• as fully as possible!
• Be sure to develop the other side fully.
• Including specific examples.
• As well as the furthest possible result.

1. In conclusion, the cultural and economic advantages of globalization have concomitant tradeoffs. 2. It is therefore important for each nation to carefully manage and balance their relationship to global society.

• Summarise your main ideas.
• Include a final thought. Read more about conclusions here .

What do the words in bold below mean? Make some notes on paper to aid memory and then check below.

Many feel that the positives of globalization justify ignoring the downsides . In my opinion, modest benefits should not overshadow legitimate threats .

The most commonly cited advantages of globalization are economic . The argument here is that by allowing companies to operate across national borders , this is a boon to both consumers and national economies . For example, in the last several decades , many Asian countries such as Vietnam and China have allowed for foreign investment , thereby stimulating their economic growth . Individuals can enjoy a variety of products from around the world and the companies themselves contribute in the form of taxes and employment opportunities . However, many would caution that multinational companies are exploitive and have driven local businesses to bankruptcy . The overall impact for the average person is therefore uncertain .

Globalization also creates apparent cultural advantages . Individuals from all around the world can experience the latest Hollywood movies and listen to their favorite artists on applications like Spotify . This undoubtedly influences and encourages other entertainers to work hard and produce quality content . Nonetheless , it can foster a harmful homogeneity . The film industry is a prime example of this. The standard American structure for films and television shows is now copied globally and funded by powerful entertainment studios such as Netflix . These companies are almost exclusively interested in specific genres , most commonly crime and action. Over time , entertainment may become less unique and no longer showcase true diversity .

In conclusion, the cultural and economic advantages of globalization have concomitant tradeoffs . It is therefore important for each nation to carefully manage and balance their relationship to global society .

For extra practice, write an antonym (opposite word) on a piece of paper to help you remember the new vocabulary:

positives benefits

globalization the world being the same

justify give good reason for

ignoring not paying attention to

downsides negatives

modest benefits small advantages

overshadow stronger than

legitimate threats real risks

most commonly cited advantages drawbacks talked about the most

economic related to the economy

argument debate

allowing companies permitting corporations

operate across national borders work in various countries

boon benefit

consumers customers

national economies money earned in a country

in the last several decades last 20-30 years

Asian from Asia

allowed permitted

foreign investment money from other countries

stimulating making grow

economic growth countries making more money, higher GDP

variety different kinds of

products things that are sold

contribute add ot

in the form of as/made up of

taxes money paid to the government

employment opportunities job chances

exploitive take advantage of

driven local businesses made small businesses

bankruptcy out of business

overall impact whole effect

average person normal citizen

uncertain not clear

apparent cultural advantages seeming benefits for art

all around the world globally

experience watching/viewing

latest Hollywood movies new films at the cinema

listen hear

artists people who make music, films

Spotify application for streaming music

undoubtedly influences definitely affects

encourages motivates

produce quality content make good stuff

nonetheless regardless

foster engender

harmful homogeneity everything the same in a bad way

prime example good instance

standard all the same

structure way it is put together

copied duplicated

funded by given money by

studios companies that make movies

Netflix streaming website

exclusively interested only care about

specific genres individual types of movies

commonly normally

over time for a long time

unique singular

showcase true diversity show off real difference

concomitant tradeoffs resulting drawbacks

carefully manage diligently take care of

balance keep equal

relationship interaction

global society the whole world

Pronunciation

Practice saying the vocabulary below and use this tip about Google voice search :

ˈpɒzətɪvz   ˌgləʊb(ə)laɪˈzeɪʃ(ə)n   ˈʤʌstɪfaɪ   ɪgˈnɔːrɪŋ   ˈdaʊnˌsaɪdz ˈmɒdɪst ˈbɛnɪfɪts   ˌəʊvəˈʃædəʊ   lɪˈʤɪtɪmɪt θrɛts məʊst ˈkɒmənli ˈsaɪtɪd ədˈvɑːntɪʤɪz   ˌiːkəˈnɒmɪk ˈɑːgjʊmənt   əˈlaʊɪŋ ˈkʌmpəniz   ˈɒpəreɪt əˈkrɒs ˈnæʃənl ˈbɔːdəz buːn   kənˈsjuːməz   ˈnæʃənl i(ː)ˈkɒnəmiz ɪn ðə lɑːst ˈsɛvrəl ˈdɛkeɪdz ˈeɪʃ(ə)n   əˈlaʊd   ˈfɒrɪn ɪnˈvɛstmənt ˈstɪmjʊleɪtɪŋ   ˌiːkəˈnɒmɪk grəʊθ vəˈraɪəti   ˈprɒdʌkts   kənˈtrɪbju(ː)t   ɪn ðə fɔːm ɒv   ˈtæksɪz   ɪmˈplɔɪmənt ˌɒpəˈtjuːnɪtiz ˈɛksplɔɪtɪv ˈdrɪvn ˈləʊkəl ˈbɪznɪsɪz   ˈbæŋkrəptsi ˈəʊvərɔːl ˈɪmpækt   ˈævərɪʤ ˈpɜːsn   ʌnˈsɜːtn əˈpærənt ˈkʌlʧərəl ədˈvɑːntɪʤɪz ɔːl əˈraʊnd ðə wɜːld   ɪksˈpɪərɪəns   ˈleɪtɪst ˈhɒlɪwʊd ˈmuːviz   ˈlɪsn   ˈɑːtɪsts   spɒtifaɪ ʌnˈdaʊtɪdli ˈɪnflʊənsɪz   ɪnˈkʌrɪʤɪz   ˈprɒdjuːs ˈkwɒlɪti ˈkɒntɛnt ˌnʌnðəˈlɛs ˈfɒstə   ˈhɑːmfʊl ˌhɒməʊʤɛˈniːɪti praɪm ɪgˈzɑːmpl   ˈstændəd   ˈstrʌkʧə   ˈkɒpid   ˈfʌndɪd baɪ   ˈstjuːdɪəʊz   nɛtflɪks ɪksˈkluːsɪvli ˈɪntrɪstɪd   spɪˈsɪfɪk ˈ(d)ʒɑːŋrəz ˈkɒmənli   ˈəʊvə taɪm juːˈniːk   ˈʃəʊkeɪs truː daɪˈvɜːsɪti kənˈkɒmɪtənt treɪd ɒfs ˈkeəfli ˈmænɪʤ   ˈbæləns   rɪˈleɪʃənʃɪp   ˈgləʊbəl səˈsaɪəti

Vocabulary Practice

I recommend getting a pencil and piece of paper because that aids memory. Then write down the missing vocabulary from my sample answer in your notebook:

Many feel that the p____________s of g_________________n j__________y i__________g the d_____________s . In my opinion, m______________s should not o_______________________________________s .

The m___________________________s of globalization are e____________c . The a___________t here is that by a_______________________s to o_____________________________s , this is a b_______n to both c____________s and n______________________s . For example, i________________________s , many A______n countries such as Vietnam and China have a__________d for f______________________t , thereby s_______________g their e_________________h . Individuals can enjoy a v_________y of p_________s from around the world and the companies themselves c___________e i_______________f t____s and e____________________________s . However, many would caution that multinational companies are e_______________e and have d_________________________________s to b______________y . The o_______________t for the a________________n is therefore u__________n .

Globalization also creates a_______________________________s . Individuals from a_________________________d can e______________e the l________________________s and l_______n to their favorite a_________s on applications like S__________y . This u____________________s and e______________s other entertainers to work hard and p_______________________t . N_____________s , it can f_________r a h_______________________y . The film industry is a p________________e of this. The s___________d American s___________e for films and television shows is now c_______d globally and f___________y powerful entertainment s________s such as N_________x . These companies are almost e______________________d in s_________________s , most c___________y crime and action. O___________e , entertainment may become less u________e and no longer s____________________________y .

In conclusion, the cultural and economic advantages of globalization have c_________________________s . It is therefore important for each nation to c____________________e and b_____________e their r_______________p to g___________________y .

Listening Practice

Learn more about this topic by watching videos from The New York Times YouTube channel below and practice with these activities :

Reading Practice

Read more about this topic and use these ideas to practice :

Examining the impacts of Globalization: A Case study of Afghanistan

Speaking Practice

Practice with the following speaking questions from the real IELTS speaking exam :

International Events/Parties

• What sort of international events does your country host?
• Do you think these types of events divide people?
• Why are these events celebrated?
• What activities are common for these celebrations?
• Are there many events that are celebrated across national borders?

Writing Practice

Practice with the related IELTS essay topic below:

The growth of multinational companies and the resulting rise of globalization creates positive effects for all.

IELTS Essay: Multinational Companies

Recommended For You

Latest IELTS Writing Task 1 2024 (Graphs, Charts, Maps, Processes)

by Dave | Sample Answers | 147 Comments

These are the most recent/latest IELTS Writing Task 1 Task topics and questions starting in 2019, 2020, 2021, 2022, 2023, and continuing into 2024. ...

Recent IELTS Writing Topics and Questions 2024

by Dave | Sample Answers | 342 Comments

Read here all the newest IELTS questions and topics from 2024 and previous years with sample answers/essays. Be sure to check out my ...

Find my Newest IELTS Post Here – Updated Daily!

by Dave | IELTS FAQ | 18 Comments

How to Brainstorm Ideas (10 Amazing Ways)

by Dave | Ideas and Body Paragraphs | 29 Comments

Brainstorming is such an important skill that can really help your Task 2 IELTS Writing and Part 3 IELTS Speaking. If you can brainstorm well, you'll ...

IELTS Cambridge 16 Essay: Advertising New Products

by Dave | Cambridge 16 | 9 Comments

This is an IELTS writing task 2 sample answer essay from the newly released Cambridge 16 on the topic of businesses nowadays emphasising that their products ...

Cambridge IELTS 16 – The Complete Guide!

by Dave | Cambridge 16 IELTS Cambridge 16 | 0 Comment

The latest Cambridge IELTS 16 book of past tests just came out and I have collected some tips and materials to help you get the most ...

Submit a Comment Cancel reply

You must be logged in to post a comment.

13 Comments

Thank you so much

You’re very welcome!

Thank u sooo much sir your method of explaining is too good

You’re welcome, Amanat!

Really helpful

Hello, in 1st sentence, I think there should be ‘do not’ between globalisation and justify! Like, positives of globalisation do not justify ignoring the downsides.(according to the main title or your topic of the essay)

It’s not needed here Sandra – the positives justify… is a simple subject + verb + object clause.

You can add in ‘do not’ but it is not needed.

Thanx for explanation!

No worries, Sandra!

Exclusive Ebooks, PDFs and more from me!

Sign up for patreon.

Don't miss out!

"The highest quality materials anywhere on the internet! Dave improved my writing and vocabulary so much. Really affordable options you don't want to miss out on!"

Minh, Vietnam

Hi, I’m Dave! Welcome to my IELTS exclusive resources! Before you commit I want to explain very clearly why there’s no one better to help you learn about IELTS and improve your English at the same time... Read more

Patreon Exclusive Ebooks Available Now!

The End of the Globalization Debate: A Review Essay

A review of several recent books on the end of antiglobalization

• Robert Howse
• See full issue

CAPITAL RULES: THE CONSTRUCTION OF GLOBAL FINANCE. By Rawi Abdelal. Cambridge, Mass.: Harvard Univ. Press. 2007. Pp. xi, 304. $49.95.

IN DEFENSE OF GLOBALIZATION. By Jagdish Bhagwati. New York: Oxford Univ. Press. With new afterword, 2007. Pp. xiii, 330. $16.95.

TERRITORY, AUTHORITY, RIGHTS: FROM MEDIEVAL TO GLOBAL ASSEMBLAGES. By Saskia Sassen. Princeton, N.J.: Princeton Univ. Press. 2006. Pp. xiv, 493. $37.95.

MAKING GLOBALIZATION WORK. By Joseph E. Stiglitz. New York: W.W. Norton & Co. 2006. Pp. xxv, 358. $16.95

Already by the end of the Cold War, the old struggle between right and left over the governance of the economy and the redistribution of wealth within the advanced liberal democracies had yielded to a new pro-market consensus. The center-left embraced many of the center-right critiques of the postwar regulatory and welfare state as inefficient, wasteful, and dependency- inducing, and sought to pursue traditional progressive values through a more economically liberal (in the sense of pro—free market) approach to governance of the economy. The discontents with these tendencies, mostly from the traditional left but not entirely, coalesced as a new counterculture, the antiglobalization movement. And there thus arose a great and intense debate about whether globalization was good or bad, inevitable or resistible, in relation to the ideal of the sovereign, progressive, democratic nation-state.

This debate, I argue, is over, above all because the antiglobalizers have themselves gone global. In various sites of global law and policymaking, including those at the interstices of the global and local, they actually have found processes and institutions through which, unlike the case with the state in many instances, they can air their criticisms and express their values as global values. There is no longer an antiglobalization “side” in the debate, coherently representing the position that the territorial nation-state should remain the locus of control over economic activity and should retain a monopoly on legitimate governance. Today the protesters who march against globalization are not marching in favor of the state. Instead, they are mostly advocating a set of values and causes that transcend state boundaries and that require global action.

Each of the works under review here contributes in a distinctive and significant way to understanding the end of the globalization debate. Jagdish Bhagwati, in In Defense of Globalization , displays a number of aspects in which the globalization debate has ended. While explicitly framing his argument as a defense of globalization, Bhagwati ends up arguing forcefully against several crucial elements of globalization, including the liberalization of short-term capital controls and the harmonization of intellectual property rights in the WTO. At the same time, he defends equally forcefully other elements, especially trade liberalization. Ultimately, Bhagwati’s analysis reveals that the real debate has shifted to the complex effects of different aspects of globalization.

Joseph Stiglitz and Saskia Sassen are theorists who decisively move our understanding beyond that of the old globalization debate. While Bhagwati usually displays an optimistic faith that political and economic rationality can ensure the achievement of “globalization with a human face,” Stiglitz is mindful of the puzzles and limits of rationality in economics and policy, and thus sees a need for innovative solutions that may challenge conventional economic wisdom. The very title of Stiglitz’s book, Making Globalization Work , takes us beyond the usual framing of the debate as globalization versus antiglobalization. Stiglitz illustrates how many of the problems with global economic liberalism identified by the antiglobalizers – such as environmental commons issues, the democratic deficit, and weak and corrupt states – require solutions at the global level through innovative mechanisms of global governance.

Sassen, in Territory, Authority, Rights , explains how the state itself has been transformed, in part by globalization itself, such that it is intrinsically more hospitable to pro-globalization forces. In this sense, one can no longer conceive of the state as the adversary of globalization or the repository of a legitimate counter-perspective. At the same time, Sassen also shows how activists representing values often understood as “antiglobalization” move between the local and the global, often operating through global networks and interpenetrating global sites of power, decision, and deliberation.

Rawi Abdelal supplies a valuable historical perspective. He explains that the liberalization of capital markets emerged not from a conspiracy of global financiers or the hegemony of Wall Street, but from a turn towards liberal economics by the French Socialists under Franí§ois Mitterrand. The shift was based in part on the view that resisting global markets was impossible or too costly – one could not effectively operate the progressive social democratic state against the forces of globalization.

• International Law

April 1, 2008

More from this Issue

Mechanisms of secrecy, regulating eugenics, leegin ’s unexplored “change in circumstance”: the internet and resale price maintenance.

ENCYCLOPEDIC ENTRY

Globalization.

Globalization is a term used to describe the increasing connectedness and interdependence of world cultures and economies.

Anthropology, Sociology, Social Studies, Civics, Economics

Freight Trains

Freight trains waiting to be loaded with cargo to transport around the United Kingdom. This cargo comes from around the world and contains all kinds of goods and products.

Photograph by Bloomberg

Globalization is a term used to describe how trade and technology have made the world into a more connected and interdependent place. Globalization also captures in its scope the economic and social changes that have come about as a result. It may be pictured as the threads of an immense spider web formed over millennia, with the number and reach of these threads increasing over time. People, money, material goods, ideas, and even disease and devastation have traveled these silken strands, and have done so in greater numbers and with greater speed than ever in the present age. When did globalization begin? The Silk Road, an ancient network of trade routes across China, Central Asia, and the Mediterranean used between 50 B.C.E. and 250 C.E., is perhaps the most well-known early example of exchanging ideas, products, and customs. As with future globalizing booms, new technologies played a key role in the Silk Road trade. Advances in metallurgy led to the creation of coins; advances in transportation led to the building of roads connecting the major empires of the day; and increased agricultural production meant more food could be trafficked between locales. Along with Chinese silk, Roman glass, and Arabian spices, ideas such as Buddhist beliefs and the secrets of paper-making also spread via these tendrils of trade. Unquestionably, these types of exchanges were accelerated in the Age of Exploration, when European explorers seeking new sea routes to the spices and silks of Asia bumped into the Americas instead. Again, technology played an important role in the maritime trade routes that flourished between old and newly discovered continents. New ship designs and the creation of the magnetic compass were key to the explorers’ successes. Trade and idea exchange now extended to a previously unconnected part of the world, where ships carrying plants, animals, and Spanish silver between the Old World and the New also carried Christian missionaries. The web of globalization continued to spin out through the Age of Revolution, when ideas about liberty , equality , and fraternity spread like fire from America to France to Latin America and beyond. It rode the waves of industrialization , colonization , and war through the eighteenth, nineteenth, and twentieth centuries, powered by the invention of factories, railways, steamboats, cars, and planes. With the Information Age, globalization went into overdrive. Advances in computer and communications technology launched a new global era and redefined what it meant to be “connected.” Modern communications satellites meant the 1964 Summer Olympics in Tokyo could be watched in the United States for the first time. The World Wide Web and the Internet allowed someone in Germany to read about a breaking news story in Bolivia in real time. Someone wishing to travel from Boston, Massachusetts, to London, England, could do so in hours rather than the week or more it would have taken a hundred years ago. This digital revolution massively impacted economies across the world as well: they became more information-based and more interdependent. In the modern era, economic success or failure at one focal point of the global web can be felt in every major world economy. The benefits and disadvantages of globalization are the subject of ongoing debate. The downside to globalization can be seen in the increased risk for the transmission of diseases like ebola or severe acute respiratory syndrome (SARS), or in the kind of environmental harm that scientist Paul R. Furumo has studied in microcosm in palm oil plantations in the tropics. Globalization has of course led to great good, too. Richer nations now can—and do—come to the aid of poorer nations in crisis. Increasing diversity in many countries has meant more opportunity to learn about and celebrate other cultures. The sense that there is a global village, a worldwide “us,” has emerged.

Media Credits

The audio, illustrations, photos, and videos are credited beneath the media asset, except for promotional images, which generally link to another page that contains the media credit. The Rights Holder for media is the person or group credited.

Production Managers

Program specialists, specialist, content production, last updated.

March 6, 2024

User Permissions

For information on user permissions, please read our Terms of Service. If you have questions about how to cite anything on our website in your project or classroom presentation, please contact your teacher. They will best know the preferred format. When you reach out to them, you will need the page title, URL, and the date you accessed the resource.

If a media asset is downloadable, a download button appears in the corner of the media viewer. If no button appears, you cannot download or save the media.

Text on this page is printable and can be used according to our Terms of Service .

Interactives

Any interactives on this page can only be played while you are visiting our website. You cannot download interactives.

Related Resources

How our interconnected world is changing

Globalization isn’t going away, but it is changing, according to recent research  from the McKinsey Global Institute (MGI). In this episode of The McKinsey Podcast , MGI director Olivia White speaks with global editorial director Lucia Rahilly about the flows of goods, knowledge, and labor that drive global integration—and about what reshaping these flows might mean for our interconnected future.

After, global brewer AB InBev has flourished in the throes of what its CFO Fernando Tennenbaum describes as the recent “twists and turns.” Find out how in this excerpt from “ How to thrive in a downturn: A CFO perspective ,” recorded in December 2022 as part of our McKinsey Live series. 1 Please note that market conditions may have changed since this interview was conducted in December 2022.

The McKinsey Podcast is cohosted by Roberta Fusaro and Lucia Rahilly.

This transcript has been edited for clarity and length.

Globalization is here to stay

Lucia Rahilly: Pundits and other public figures have wrongly predicted the demise of globalization for what seems like years. Now, given the war in Ukraine and other disruptions, many are once again sounding its death knell. What does this new MGI research  tell us about the fate of globalization? Is it really in retreat?

Olivia White: The flows of goods, the real tangible stuff, have leveled off after nearly 20-plus years of growing at twice the rate of GDP. But the flows of goods kept pace with GDP and even rose a little bit, surprisingly, in the past couple of years. Since GDP has been growing, that means actual ties have gotten stronger.

One of the most striking findings from this research was that flows representing knowledge and know-how, such as IP and data, and flows of services and international students have accelerated and are now growing faster than the flow of goods. Flows of data grew by more than 40 percent per annum over the past ten years.

Lucia Rahilly: Goods are a smaller share of total flows, a smaller share of economic output, than in the past. That doesn’t necessarily sound like a bad thing. Could it be a sign of progress?

Olivia White: The fact that certain goods are growing less quickly than other types of flows shows this shift in our economy and what’s most important to the way the economy functions. It comes on the back of a long history of different factors that influence growth and shifts in the way patterns work. What’s happening, in part, is that a variety of countries are producing more domestically—first and foremost China. That has been driving a lot of the flow down, if you take the longitudinal view, over the past ten years versus before.

The world remains interdependent

Lucia Rahilly: How interdependent would you say we are at this stage? Could you give us some examples of the ways we’re interconnected?

Olivia White: The top line is, every region in the world depends on another significant region for at least 25 percent of a flow it values most.

In general, regions that are manufacturing regions—Europe, Asia–Pacific, and China, if we look at it on its own because it’s such a large economy—depend very strongly on the rest of the world for resources: food to some degree, but really energy and minerals of different sorts. I’ll give you a few examples.

In general, regions that are manufacturing regions depend very strongly on the rest of the world for resources: food to some degree, but really energy and minerals. Olivia White

China imports over 25 percent of its minerals, from places as far-flung as Brazil, Chile, and South Africa. China imports energy, particularly in the form of oil from the Middle East and Russia. Europe is emblematic of these forms of dependency on energy. It was dependent on Russia for over 50 percent of its energy, but now that has drastically changed.

In some other regions in the world—places that are resource rich, like the Middle East, sub-Saharan Africa, and Latin America—those places are highly dependent on the rest of the world for their manufactured goods. Well over half the world’s population lives in those places. They import well over 50 percent of their electronics and similar amounts of their pharmaceuticals. They are highly dependent on other parts of the world for things that are really quite critical to development and for modern life.

North America is somewhat of a different story. We don’t have any single spot of quite as great a dependency, at least at the broad category level. We import close to 25 percent of what we use in net value terms across the spectrum, both of resources and of manufactured goods.

This doesn’t yet speak of data and IP, where, for example, the US and Europe are fairly significant producers/exporters. A country like China is a very large consumer of IP.

Lucia Rahilly: How interdependent are we in terms of the global workforce?

Olivia White: This is quite striking. We asked how many workers in regions outside North America serve North American demand. And we asked the same question for Europe. It turns out that 60 million people in regions outside North America serve North American demand, and in Europe the corresponding number is 50 million.

These numbers are very substantial versus the working populations in those countries. So when you consider how much of what North Americans or Europeans are consuming could be produced onshore, by onshore labor, the answer is not even remotely close to those sorts of numbers—at least given the means of production or the way services are delivered today and the role people play in that.

Lucia Rahilly: Let’s turn to some of the categories of flows that have increased in recent years. What’s driving growth in global flows now that the trade in goods has stabilized?

Olivia White: Flows linked to knowledge and know-how. Knowledge services that have historically grown more slowly than manufactured goods and resources, with increased global connection over time, have flipped over the past ten years.

Professional services, such as engineering services, are among those more traditional trade flows that have been growing fastest, at about 6 percent a year, versus resources, which have slowed to just around two percent. Anything that involves real know-how—engineering, but also providing, say, call center support—is in that category.

The flows of IP are growing even faster. Now, IP is tricky because accounting for it is a very tricky thing to do. But it roughly looks at flows of the fun stuff. In the report we talk about Squid Game , but IP also includes movies, streaming platforms, music, and any sort of cultural elements that we consume.

It’s also important to consider flows of patents and ideas and the way countries or companies will use ideas or know-how developed in one country to help what they do broadly across the world. Those flows have been growing at roughly 6 percent per year as well.

There are data flows—the flows of packets of data. For example, if we were in different countries while conducting this interview there would be the flows between us. There are also flows linked to our ever-expanding use of cloud and data localization. Data transfer is happening more and more quickly.

The flows of international students have also been rising. That was mightily interrupted by the pandemic, for reasons I don’t need to belabor, but these flows seem to be rebounding. It’s important to consider the degree to which those will jump back on their accelerated growth trajectory.

Want to subscribe to The McKinsey Podcast ?

How covid-19 has affected global flows.

Lucia Rahilly: You mentioned flows of international students dropping off during COVID, for the obvious reasons. Did other flows generally drop off during the pandemic? Or were there examples of flows that were particularly resilient throughout that period?

Olivia White: There’s some variation, but many flows were remarkably resilient—resilient in a way that’s a bit counter to the general narrative about what happened during the pandemic.

The flows of resources and manufactured goods jumped reasonably significantly in 2020 and 2021, both to levels of about 6 percent per year on an annualized basis. To some degree, what was happening is that cross-border flows stepped in to replace interrupted domestic production. Flows from Asia came in, for example, to the US or to Europe. We’ve seen some flows go in reverse directions. There was a bunch of interruption in domestic production, which was quite surprising.

Flows of capital also jumped quite a lot as people needed to shift the way they were financing themselves. Multinationals needed to shift the way they were financing themselves. Some were moving liquidity to different parts of the world under times of financial stress. But those jumped to levels of growth in the tens of digits from what had actually been reversed growth for the past ten years. All those things jumped. IP jumped a little bit; data remained high. So these flows have been remarkably resilient.

The good and bad news about resource concentration

Lucia Rahilly: You invoked concentration a bit when you talked about Europe being dependent on Russia for 50 percent of its energy. Can you say a bit more about what concentration means in this context and how it affects the dynamics of the way we’re connected globally?

Olivia White: From the global perspective, there are some products that truly originate in only a few places in the world, and all of us across the globe are dependent on those few places for our supply. Iron ore is quite concentrated, and cobalt is concentrated in the DRC [Democratic Republic of the Congo].

The second type of concentration is viewed from the standpoint of an individual country. Lucia, you talked about Europe and gas dependency.

For example, Germany was getting gas from only a very concentrated set of sources. These are places where, for a variety of reasons, countries have built up dependencies on just a small number of other countries.

Why has this happened? Why are we in this position? Cost is one reason. People have made decisions based on economic factors. Another reason is regional preference. Not all goods are created equal, even if they fall in the same category.

The third reason is preferential trade agreements between different countries or other forms of tariffs or taxes that shape the way flows occur. We’re in a world in which suddenly people are realizing they have to contemplate the consequences associated with concentration—not of suppliers, but of the country of origin from which they’re buying things.

Lucia Rahilly: It sounds like concentration also increases efficiency in some cases where those disruptions don’t occur. Is concentration always a bad thing? If we rethink concentration, can we expect to see some loss of efficiency in the interim?

Olivia White: No, it’s not always a bad thing. But there are a lot of considerations to make that involve costs, involve geopolitical relationships, involve the role that various countries want to play themselves, how they’re thinking about development, how they’re thinking about their workforces. All those things have to be part of the mix.

Imagine three or four different countries, each with three trading partners, and they’re largely different trading partners. Swapping off who’s supplied by whom is a huge problem of coordination.

How global chains will evolve

Lucia Rahilly: Geopolitical risks  have obviously trained a policy spotlight on reimagining these global value chains, whether for security reasons or to strengthen resilience more generally. Accepting that the world remains interdependent, how do we see trade flows continuing to evolve in coming years?

Olivia White: Broadly speaking, there are four categories of potential evolution. Semiconductors are most prominent in public discussion. Electronics, more broadly, is one of the fastest-moving value chains since 1995, with 21 percentage points of share movement per decade. Pharmaceuticals and the mining of critical minerals are other examples. And they will be part of what shifts the way that flows crisscross the globe.

Second category: textiles and apparel. This category is not as sensitive in a geopolitical sense as some of the things I was talking about before. This category is one where you actually do have new hub creation right now. Consumer electronics, other forms of electric equipment that aren’t particularly sensitive, possibly fall in that category too.

Third category: IT services and financial intermediation or professional services. That will reconfigure the ways in which services flow.

Fourth and finally, there’s the stuff that’s just going to be steady—food and beverages, paper and printing. There’s no particular reason to expect that there are strong forcing mechanisms that will change the way those things are flowing across the world right now. They’re things that have remained relatively steady for the past ten or more years.

Global flows are necessary for a net-zero transition

Lucia Rahilly: Do we have a view on whether the evolving state of global flows is helping or hindering the net-zero transition ?

Olivia White: The way I’d put it is, there is no way we move quickly toward a net-zero transition without global flows. There are certainly things about global flows that are tricky from a net-zero perspective. It costs carbon to ship things and move things a long way. But in order for net zero to be attainable, we need to make sure that energy-generating technologies and fuels are able to flow across the world.

Energy-generating technologies include both the minerals that underpin construction of those technologies and the actual manufacturing. So, in the first category, think nickel and lithium. In the second category, think about the actual manufacturing of solar panels. The minerals themselves are processed in only a few countries around the world. So people are going to have to move them from one place to another. Maybe the world could have broader diversification of such things, but on average, the timeline from discovering a mineral to being able to produce it at scale is well in excess of 16 years. If we want to move fast, we have the luxury to move things across the world. Meeting cost curves for manufacturing at scale and in locations where you have at least some established presence is going to be important.

The final element that’s crucial with respect to net zero is cross-border capital flows. It’s really important that developing countries are able to finance shifts in the way that energy is produced and consumed in their countries, which means they may have to both spend more, at least as a ratio of GDP, and have less ability to spend, given other forms of development imperative.

Multinationals and global resilience

Lucia Rahilly: What’s the role of major multinational companies as we look ahead toward reimagining the future of our global connectedness?

Olivia White: The first thing that needs to be recognized is that major multinational corporations play an outsize role in global flows today. Multinationals are responsible for about 30 percent of trade. They’re responsible for 60 percent of exports and 82 percent of exports of knowledge-intensive goods. So they disproportionately drive flows, especially the ones associated with knowledge. And therefore, they’re going to be the center of managing for their own resilience, but also in a collective sense, for the resilience of the world.

The future of global flows

Lucia Rahilly: The media tends to focus on what some see as globalization’s imminent demise. Accepting that global ties continue to bind and connect us across the world, it’s also natural for folks to have pretty strong reactions to these intense and ongoing global disruptions that we’ve experienced in recent years. How would you sum up the way we think about the future of globalization at a high level?

Olivia White: The world we live in right now is highly dependent on flows. Will those flows reconfigure and shift? Yes, absolutely. They have in the past, and they will in the future.

Lucia Rahilly: Do we see anything in the research to indicate that the world is actually moving toward decoupling, which is also very much part of the media narrative?

Olivia White: If you look along regional lines, individual regions can’t be independent. If you just start to play with what sorts of decoupling of regions would be possible, you see very quickly that it’s not something you can do.

Now, is it possible that you would get groups of countries that become more strongly interconnected among themselves and less strongly connected with others? Absolutely. It’s possible to move in that direction. The question becomes, is there an actual decoupling, or do you just have a shift in degree? As with most things in the world, the answer tends toward the shift in degree rather than an abrupt or sharp true change or decoupling.

Lucia Rahilly: Does greater regionalization improve resilience?

Olivia White: To some degree you can say, “Look, if I’m self-sufficient, I’m more resilient.” On the other hand, all of a sudden you depend on yourself for everything, and that’s a point of vulnerability in the same way that getting it only from one other person would be a problem.

There are a whole host of reasons some degree of regionalization might help. You’ve got things closer to you. But dependency just on a few sets of people, whether or not they’re in your region, means you’ve got dependency on just a few points of potential weaknesses rather than a broad web, which in general is a more resilient and robust structure.

Lucia Rahilly: Thanks so much, Olivia. That was such an interesting discussion.

Olivia White: A real pleasure, Lucia. Thank you.

Roberta Fusaro: One example of resilience is AB InBev. Here to talk about how it’s prospering in the face of worldwide disruption is its CFO, Fernando Tennenbaum. This excerpt, “ How to thrive in a downturn: A CFO perspective ,” from our McKinsey Live series, was recorded in December 2022.

Lucia Rahilly: Fernando, we’re confronting an unusual constellation of disruptions: inflation, high interest rates driving up the cost of capital, geopolitical turbulence unexpectedly upending supply chains and sending energy prices spiking—it’s genuinely a volatile moment. Tell us, how is AB InBev faring in the current context?

Fernando Tennenbaum: We’re fortunate to be in a resilient category. Despite these twists and turns in different parts of the world, beer sales have been quite strong. That said, inflation has turned out to be much higher than expected. 2 Market conditions may have changed since this interview was conducted. We need to ensure our operations are in sync with the market, to meet this unique moment. We need to understand the state of the consumer and adjust our operations accordingly.

In emerging markets like Latin America and Africa, inflation is not new news. There are different levels of inflation, but inflation has been a part of these economies for a very long time. Consumers are more used to it, companies are more used to it—and it’s probably a more straightforward discussion.

Lucia Rahilly: You’ve spent much of your career in Latin America where, as you said, inflation has historically been much higher and more volatile than in the US or in Western Europe. Walk us through some of the lessons that we in the US, for example, could learn from.

Fernando Tennenbaum: Make sure that you’re always looking at your customers, and that you’re always keeping up with inflation. You should avoid lagging too much, and you should avoid overpricing compared with inflation. If you do too little or too much, you start disturbing the health of the consumer. If you get it right, it’s probably a good thing for the business. You have to make sure you navigate the rising cost environment while ensuring that the consumer is in a good place, your product is in a good place, and the category is a healthy one. It’s a balancing act.

You should avoid lagging too much, and you should avoid overpricing compared with inflation. If you do too little or too much, you start disturbing the health of the consumer. Fernando Tennenbaum

Lucia Rahilly: AB InBev has a diverse portfolio of brands. Volumes are good. Are customers trading up or down, during this period, between your premium and mass-market brands?

Fernando Tennenbaum: Premiumization continues to be a trend, and consumers continue to trade up to premium brands. Over the course of this year, people often asked whether consumers were trading down—and we see no evidence of trading down. That is true for the US, that is true for Africa, and that is true for Latin America—which is quite unique.

I don’t know if the future will be different; the world is changing so fast. But if you were to ask me ten years from now, I’d expect premium to be even bigger than it is today.

Lucia Rahilly: Let’s talk about uncertainty. The economy could play out in many different ways. How do you manage for that?

Fernando Tennenbaum: Let’s take our debt portfolio. Now is the moment that interest rates are going up. Inflation and borrowing are going up. Overall, this tends to be bad news—but for us, it’s quite the opposite because we don’t have any debt maturing in the next three years. We prepared for this when we saw the world going to a very different place at the beginning of 2020.

We ended up raising some long-term debt and repaying all our short-term debt. Now we’re left with a debt portfolio that has an average maturity of 16 years and no meaningful amount of debt maturing in the next three years—all at a fixed rate. Since we don’t need to refinance, we’re actually buying back our debt. Rising interest rates can be good when you can buy back debt cheaper than it cost to issue.

Lucia Rahilly: You became CFO at AB InBev in 2020, when pandemic uncertainty was at its peak. Talk to us about how you navigated that period.

Fernando Tennenbaum: The first thing we did in 2020 was pump up our cash position. Not that we needed it, but I felt it would give operations peace of mind. To be prepared, we started borrowing a lot of money. And we started taking care of our people. We needed to make sure our people were safe—that was priority number one.

Once we made sure our employees were safe, our operations were safe, then we looked at opportunities and started to fast-forward. I remember we looked at May, for example, and started to see a lot of markets doing well in terms of volume. We had a lot of cash. We started buying back some debt, especially near-term debt, to create even more optionality for the future.

We also accelerated our digital transformation. The moment was uniquely suited for it. Digital was a much better way to reach customers at a time when everybody was afraid to meet in person. In hindsight, the company ended up in a much better place today than it was three years ago—in terms of our portfolio, our digital transformation, and even financially—because we acted very quickly and created a lot of optionality during the first few months of the pandemic.

Lucia Rahilly: Any mistakes to avoid?

Fernando Tennenbaum: Looking back, I wouldn’t have done anything massively different. If I had known the outcome, I might have done things differently. But without knowing the outcome, I felt that the way we managed and the optionality we created set us up well.

Lucia Rahilly: Brewing is such an agriculturally dependent business, and agriculture has been significantly disrupted, both because of the war in Ukraine and because of climate-related risk. As CFO, how do you think about sustainability in terms of longer-term value creation?

Fernando Tennenbaum: Sustainability cuts across the whole of our business. We have a lot of local suppliers—20,000 local farmers. Our brewing processes are natural. The more efficient we are there, the more sustainable we are and, actually, the more profitable we are. We have local operations, and we sell to the local community. And most of our customers are very small entrepreneurs. The more we help them, the better they can run their business. And we say beer is inclusive because we have two billion consumers.

Lucia Rahilly: Is packaging also part of the sustainability approach?

Fernando Tennenbaum: Definitely. For example, we have returnable glass bottles. That’s very efficient, very sustainable, and from an economic standpoint, that’s probably the most profitable packaging we have. It’s also the most affordable for consumers. So it’s good for us, good for the environment, and good for the consumers.

Lucia Rahilly: You said beer is inclusive in part because so many of us drink it. How else do you approach inclusion at AB InBev?

Fernando Tennenbaum: Our two billion consumers are very different from one another. We need to make sure that, as a company, we reflect our consumers. Whenever we look at our colleagues, we need to make sure they reflect the societies where we operate—and we operate in very different societies.

A diverse and inclusive team is going to be a better team. That also applies to our suppliers. For example, if you think about suppliers in Africa, some are very poor. They manage to get access to technology, which means we can track whether they’re receiving the funds we pay them. We can track where agricultural commodities are being sourced. So how we financially empower them is also a very important part of our sustainability strategy.

Lucia Rahilly: Looking ahead, how are you thinking about innovation and investment in technology, in order to enable growth?

Fernando Tennenbaum: Innovation is a key component of beer, and there are two sides to that. One is innovation in products. The other is packaging. In Mexico, for example, we have different pack sizes for different consumption occasions and consumer needs.

Beyond that, there’s also technological innovation. Take our B2B platform, which we started piloting in 2019. Now, three or four years later, we have around $30 billion of GMV [gross merchandise value] in our e-commerce platform, which is accessible in more than 19 countries. That’s the optimal portfolio to improve customer engagement at their point of sale. Before we launched our B2B platform, we used to spend seven minutes per week interacting with our customers. Today, with our B2B platform, we interact with them 30 minutes per week. We increased the number of points of sales. For example, in Brazil, we used to have 700,000 customers, and now we have more than a million customers. Previously, they were buying our products from a distributor. Now we can reach them directly with the B2B system in place.

This connection with our customers means we can do a lot of other things, like our online marketplace, where third-party products generated an annualized GMV of $850 million, up from zero four years ago. That marketplace now continues to grow and to deliver a lot of value for our customers and for ourselves.

Lucia Rahilly: One more question: If you could give one piece of advice to a brand-new CFO of a large, multinational corporation, what would it be in this market?

Fernando Tennenbaum: Make sure you plan for different scenarios. The world is moving very fast, and you can’t expect it to unfold in a certain way. But if you have options, are agile in making decisions, and have a very engaged team, then regardless of the twists and turns, you are able to meet the moment. And you are definitely able to deliver on your objectives.

Lucia Rahilly: I lied. I’m going to ask you one more. How do you see, for these new CFOs, the relationship between sustainability and inclusivity and growth? Do you see those in tension?

Fernando Tennenbaum: There is this myth that you are either sustainable or profitable. At least at AB InBev, we’re sure they go hand in hand. The more sustainable you are, the more profitable you are, and the more value you create for your different stakeholders.

Fernando Tennenbaum is the CFO of Anheuser-Busch InBev. Olivia White is a director of the McKinsey Global Institute and a senior partner in McKinsey’s Bay Area office. Roberta Fusaro is an editorial director in the Waltham, Massachusetts, office, and Lucia Rahilly is global editorial director and deputy publisher of McKinsey Global Publishing and is based in the New York office.

Comments and opinions expressed by interviewees are their own and do not represent or reflect the opinions, policies, or positions of McKinsey & Company or have its endorsement.

Explore a career with us

Related articles.

Global flows: The ties that bind in an interconnected world

On the cusp of a new era?

Globalization’s next chapter

• Class Notes

Digital Exclusives

• Blog Network
• School News
• Alumni Spotlight

Redefining Achievement for Modern Times

A new book by Junior Achievement CEO Asheesh Advani W94 offers a fresh twist on what success means for up-and-coming leaders.

A Fresh Way of Thinking About Team Retreats

Advice from a mentor and research from professor Jonah Berger inspire a new twist on an old concept.

Does Your Fintech Company Have a Sector Strategy? It Should.

A step-by-step process for improving collaboration across your firm’s functions

A Smart Approach to Hospitality

Kent Trabing WG01 interviews Kasa CEO Roman Pedan ENG10 W10 on how his company is modernizing hotel stays.

Wharton Faculty Examine Our AI Present and Future

As the Wharton AI & Analytics Initiative lifts off, a new book by Ethan Mollick and a podcast series by Kevin Werbach examine how to live with the technology, apply it to business, and navigate its pitfalls.

Alumni Book Roundup: Summer 2024

Portraits of refugees, modern investment tips, and a dystopian thriller

Diary of the Wharton Global Forum in São Paolo

Frequent Forum attendee Cathryn Taylor WG87 chronicles her time in Brazil at the international event.

A Brand Built by Fathers and Sons

The founder of Stateside Vodka and Surfside cocktails has family firmly at the heart of his business.

Leading During Uncertain Times

Executive coach Alissa Finerman WG98 on the importance of communicating with employees

Going All-In on AI

Dean Erika James shares a transformative new development at Wharton

Wisdom From Women Writers

Two alumnae panelists — a business writer and a novelist — share their approaches to book-writing at the Wharton Magazine Authors Salon during MBA Reunion Weekend.

From Classmates to Business Partners

How MBA Reunion Weekend led to the start of an alumni-powered company

Show Your Logic

Avoid conflict and build trust by establishing the “why” behind decisions and sharing it with colleagues.

Asking Questions, Unlocking Solutions

How reframing a problem creates value for customers

The Future of Fast Food

Alumni dish on the industry's digital transformation.

On a meteoric rise through the fiercely competitive luxury retail market, high-end handbag brand Anima Iris has been picked up by Nordstrom, Saks Fifth Avenue, and even Beyoncé. With geometric and bold designs, founder Wilglory Tanjong G22 WG22 expresses her ancestry in a fashionable and sustainable way. The bags are made in Senegal by expert craftspeople who have honed their techniques over decades and draw inspiration from centuries of heritage. The leather and other materials are sourced through local African business merchants. Anima Iris is environmentally friendly and employs a zero-waste model that ensures all materials are used and that no two products are the same.

Is This the End of Globalization?

Blackrock CEO Larry Fink thinks the war in Ukraine is accelerating an end to the globalization that has shaped the new world order for the past 30 years. Oaktree Capital Management co-founder Howard Marks has said the war is forcing the pendulum of international affairs to swing away from globalization as companies and governments rethink their interdependence.

Wharton associate management professor Exequiel “Zeke” Hernandez disagrees. He said it will take much more than a conflict between two countries to destroy the economic fundamentals of international trade. “I believe that there could be some short-term disruption, but I don’t believe that globalization in the medium-to-long run is going to be completely obliterated, which I think is the spirit of a lot of these predictions,” he said during an interview with Wharton Business Daily on SiriusXM.

Simply put, companies and countries need each other. Reaching beyond borders is how they secure their supply chains, grow their customer bases, find labor, and provide their populations with all the goods and services they demand.

“For most reasonably sized businesses, the home market is just not large enough of a market, so they need to serve foreign markets,” Hernandez said. “That will mean having more global or, more commonly, regional supply chains.”

The professor pointed out that doomsday predictions about the end of globalization have been made before, usually during times of crisis. At the beginning of the COVID-19 pandemic, the Economist ran a cover story about it, and similar declarations were made during the Great Recession. But he said crises create only “temporary blips” in economic activity, like the sharp drops induced by sudden pandemic lockdowns.

“It happens all the time,” Hernandez said about the negative predictions. “I think we have to distinguish between short-term disruption and structural changes in the economy.”

Hernandez has maintained his stance on globalization for years, writing in a 2020 blog post that while his position may be “boring” compared to those of naysayers, it’s based in truth. “I believe that an approach based on basic facts — even if boring — may help calm down some of the anxiety about the future of globalization,” he wrote. His thoughts in Wharton Magazine ’s “ Wharton Does the Future Hold? ,” published in the early months of the pandemic, also go against “alarmist views” about global business.

Hernandez said one reason why declarations about globalization’s demise are overblown is that the world’s economy isn’t as entangled as people think. Foreign direct investment, for example, accounts for just four percent of the global economy.

Authoritarian regimes often cut themselves off from the global market for a host of reasons; Russia’s Vladimir Putin is just one example. But firms often respond by shifting their activities elsewhere in the world. That’s why Hernandez thinks it will take world war on a larger scale to create the kind of disruption that would halt globalization.

“Unless you have authoritarianism and protectionism rise to a level where every country wants to be economically self-sufficient, you’re not going to make a big dent,” he said. “The only thing that will happen is you might shift which countries are more involved in trading and doing business with each other.”

Published as “Is This the End of Globalization?” in the Fall/Winter 2022 issue of  Wharton Magazine.

When Work Leads to Worry

Job-related anxiety is pervasive, but there are simple and effective ways to manage it.

Why Some Firms Keep Quiet About ESG

A primer on the troubling trend of “greenhushing” and what it means for climate change

Why Loyal Employees Are Hard to Find

Goodbye, gold watch. Bon voyage, retirement party. Fare thee well, fat pension. The modern workplace has become increasingly transactional, raising the question: Is company loyalty gone for good?

A Different Kind of Growth Industry

Steps companies can take to boost opportunities for underserved communities

The Effect of Globalization on a World Culture Essay

• To find inspiration for your paper and overcome writer’s block
• As a source of information (ensure proper referencing)
• As a template for you assignment

Introduction

Globalization and culture.

Scientific innovations and inventions have accelerated the growth of globalization. Nations can easily trade, socialize, share ideas, and assist each other in different spheres of life.

Improved international relations have enabled the movement of factors of production among nations with minimal barriers to trade. The cooperation has led to social, political, and economical globalization; although neither of the above three classifications of globalization have been fully attained, their effects can be felt in economic, political, and social spheres of life.

Critics of globalization appreciate that it has positive effect on economic wellbeing of countries. However they are quick to point out that globalization has high culture and identity loss/costs (Sheila 56). They are of the opinion that modernization has the potential of running roughshod over the world’s distinctive cultures and creates a single world which resembles a tawdry mall. This paper discuses the effect of globalization on a world culture.

Culture is the identity of people that any member adheres to. It has some defined attributes, some of them are written and others are not. The set way of operation that is governed by some cultural, communal, and societal goals assists in holding people together and creates a norm in the community.

When people trade, socialize or interact with each other in a way it has been enabled by globalization, there is the tendency that they will lose their identity and inherit a system of operation or a certain mode of conduct that is generally accepted by the community (in this instance, the word community has been used to refer to the larger global community created by globalization).

According to Tyler Cowen, modernization and cultural globalization have resulted into the growth of creativity, innovation, and invention among communities. When people interact, they tend to learn the other parties’ way of operation and the difference is likely to trigger some creative mind for the benefit of the two parties.

The above observation by Tyler Cowen can be interpolated either negatively or positively; from a positive angle, modernization has created a room for invention and innovation. On a negative note, the world is utilizing the differences it has as failing to create more differences that future generation is likely to run out of creative mind, as there will be lack of motivation in the form of current culture differences.

For example, in the 1950s, Cuban Music and Reggae was produced in Cuba with the target consumers as American Tourists who visited the country. In Cuba, the style of music was part of their tradition that the Americans loved to sing along. With diffusion of culture and more exposure, the style of music has been adopted by the Americans, and today it is played in modern clubs and bars.

Today, if a Cuban was to visit the United States, he or she was likely to feel accommodated by the structures as there are some similar attributes that he/she gets. In either French or German restaurants, a shopper is able to buy Sushi (Japanese foods consisting of cooked vinegared rice (shari) combined with other ingredients (neta)). Such a move shows how Japanese have been accommodated in both European countries (Sheila 256).

With cultural globalization, people of different cultures, ethnicities, nationalities, religions, and values find themselves in the same atmosphere where no one has the freedom to fully adhere or practice his culture. With such kind of setting, the most probable thing that can happen is people to develop a set of culture that will assist them transact business despite their differences.

The net result is a global culture; the effect and extent that global culture has gone in the world varied among nations and continents; developed countries have their culture more diffused and uniformity can be seen from their way of operation. In developing countries, there is a tendency of resistance to change the culture, but the force therein is strong. Efforts to change the culture of people are not deliberate, but they are necessitated by the prevailing condition in the world.

In contemporary business environments, organizations hire employees of different nationalities, ethnic backgrounds, cultural believes, intellectual capacity, and age. The nature and mix of employees calls for management to develop policies and management mechanisms that will gain from the differences in their human capital; to manage the diverse personnel, business leaders need to adopt international human resources management strategy (IHRM).

The policies that organizations embark on should entail policies that address diverse human resource issues; organization stands to benefit from diversity if the right management policies are set in place, but there is the risk that the differences create uniform business practice. With diffusion of cultures, management can enact some common human resource policies that cut across its diverse human capital. However, care should be exercised since chances of repellence in the event policies seem to be confronting with culture of people.

When managing human capital of different nationalities, businesses leaders should make policies that can assist in tapping their organization’s personnel’s intellectual capacity, as it grows their talents and skills. Culture is likely to affect people in different spheres, thus when companies have diverse human resources, they have to ensure that their programs are sensitive to the differences in culture and beliefs.

When working in different countries, management should never assume that the human management style adopted in the country is fully-effective and applicable to another country; they should take their time, understand what the other country’s employee value and consider best. Management gurus continue to offer insights of how culture and ethnicity of a people affect their performance in their works; they have suggested culture intelligence to assist organization handle their employees effectively regardless of their nationality.

When making business decisions, the culture and exposure that someone has is likely to affect the kind of decision that he is going to make; people who are exposed to the right materials through televisions, the internet, and print media are likely to make more informed decisions. With culture globalization, there has been exposure to different settings and information is available through the assistance of communication channels; the resultant community is an informed community that can make quality decisions for the exploitation of available resources effectively.

Differences in norms and culture among different ethnicity, nationalities, and communities has been a hindrance to effective trade, to some extent, the differences have acted as non tariff barriers that has hindered the development of trade.

When people interact and change their cultural beliefs to adopt a uniform set of beliefs, they are breaking the unseen barriers of trade and create a room for more business, ideas, equality, and economic development. For example, among the Muslims, Women had been regarded as inferior to men and they could hardly be allowed to take leadership positions.

With the interaction with Christians and getting their take on the same, there has been a wave in the community that has enabled them to seek leadership positions like men have. The above case has shown how culture globalization has created opportunities to different people and enabled women to get more opportunities. In the developed worlds, the state and position of the woman had been respected long before the same was done in developing worlds.

As the developed and developing countries trade among each other, the developing countries are getting into the system and women have started to have their positions in the communities. Gender differences has been minimized by globalization, there has been the reduction on gender differences among communities were human beings can now relate more as people not on gender grounds as the case had been when culture globalization was not adhered to.

The rights of girl child campaigns have gained roots in different countries as culture diffuses to reinforce and create awareness to the need to protect women and reduce gender differences that have prevailed among communities for a lengthy duration.

When people of different cultures interact, they develop the sense of togetherness and there are shared common interests that are developed; globalization has enabled the interaction, as well as sharing of ideas, opinions, view points and ways of doing things in a way that facilitates trade. Trade prevails better when the trading partners have some common values, attributes, and beliefs.

Culture globalization has enabled people to have the same perception and attitude towards similar products; with the similarity, peace and harmony in doing and handling issues have been developed. When there is peace and harmony, business and trade prevail effectively.

When people share culture, it means that when someone is in a geographical location different from his or hers, coping will be easy as there will be likelihood that the person will get something that is the same with what he or she beliefs.

For example, although the Chinese food is different from American food, a Chinese visiting the United States only need to establish the restaurant selling Chinese food as the nature and the diversity has been accepted by both the communities. Sales and marketers have much to benefit from globalized world, they can easily develop new formats and marketing strategies developed can be similar and message passed remains the same.

According to Benjamin Barber, one of the main challenges that have been brought about by globalization is culture borrowing and culture mimicry; with the borrowing and mimicry people have lost their sense of identity that someone can manage to treat his brother wrongly and hide under the new system of global culture.

Although culture globalization has not been fully attained, there are moves that indicate that its full operation cannot happen. In areas like religion (religion is an aspect of culture), changing people’s religious believes have been a challenge. The existence of some elements that can hardly change results to the notion of global culture being a mere statement by advocators of the integration, the situation cannot be attained.

Some industries in the globe exist because of differences in culture of people, for example, the tourism industry is much dependent on the cultural differences of people in different places. With culture diffusion, the industry is likely to suffer a huge blow.

In Kenya, the East African country whose tourism is the second earner of the foreign exchange has multicultural where the tourisms from different countries visit to enjoy and learn the diversity of the country’s population.

The move to global culture is thus likely to injure some industries while supporting others. Culture within communities is supported by generally agreed attributes that passes from one generation to another. The “nature of passing” of modern global culture is challenging as people or the global community has not set mechanisms to pass the culture, reinforce, or even punish offender.

To pass the global culture, the materials that young generation become exposed to modern methods of passing information like television, radio, the internet, peers, and written materials. When such materials have been used to pass culture, there are high chances that young generation will get reinforcement of culture which is not good. Global culture is more likely to be for the larger global community benefit, but rarely does it address issue of an individual.

With the structures and development of global culture, there cannot be said to have an effective method of culture reinforcement or a system to punish offender. This means that the culture is vulnerable to changes and hicks ups. Any small attribute or change in the global world is likely to shake the culture of the people since it’s not based on a strong foundation.

With globalization, companies can work in different parts of the world as multinationals; however they have to be sensitive to the nature of products, services, and structure of employees they deploy. Multinationals generally have three main methods to get their employees on board, they use a localization approach, expatriates approach, and a third country approach.

To maintain quality and quantity workforce, the management should ensure that they are aware of the culture of people and manage them effectively. The challenge that multinationals have is putting the notion that with culture globalization, there is uniformity, thus there is no need to have culture intelligence and culture awareness programs.

For example, Pepsi has been a major competitor in the American industry as its style is more American, however the brand has not maintained strong competitiveness in African countries since its style of marketing and sales fails to meet the needs of the continents culture. The above example shows how the notion of global culture has been mis-interpolated (Sheila 256).

Other than human resources, department maintaining qualified and efficient human capital at the most affordable cost possible, they have the role of ensuring they combine their human capital in a manner that will benefit the entire organization.

Diversity and difference in culture by itself offers an organization rich knowledge, opinions, values, and experience, with culture globalization such important attributes to business competitiveness are lost; before an organization decides to fill a certain vacancy in its system, the human resources should liaise with the departmental heads to know exactly the kind of qualification that are sort for, in some instances, the management may advice for some age gap, nationality, gender, and experience.

It is through effective recruitment that an organization can build an effective team that meets its personnel requirement needs. When enacting empowerment and motivational policies or schemes, the management should ensure that the diversity of its employees has been considered.

There are people who are generally team-players, others prefer individualism, and others are charismatic leaders. When making decision, it is important to consider the diversity. Management gurus has continually advised companies to have culture coaches when operating in a country they are not very sure of the nature and the culture of the people; with the coaches, they can develop orchestrate teams and make products that meet the requirement of customers in the country.

Diverse human resource can be biennial to an organization is managed effectively; failure to manage diversity effectively means exposure to risks. Management gurus have continued to support the use of culture intelligence and culture awareness programs to support the culture awareness within organizations; those companies that have undertaken the advice are doing better than those who have not.

Although cultural globalization has build strong operating base through which trade can prevail, it has brought some challenges to the world and the people in general. The lack of identity has resulted into sharing of values likely to dilute societal values and norms.

When the community lacks strong values that are maintained with a certain mechanism, the result is a disintegrated society were social evils are the order of the day. For example, in developed countries, one of the vises that the countries are dealing with is use of drugs and substance abuse by young people.

Although this is taken as a normal condition or social evil, psychologists have suggested that lack of strong values and low behavior standards by young people can be to blame. When the blame is further analyzed, it is seen that parents are not able to raise morally upright children as they have less regard to their cultural beliefs and practices which they consider to have been eroded by globalization.

With diffusion of cultures, there is less emphasis on family and societal values, parents and the community in general seem to ignore the need to maintain, pass and transfer culture to younger generations. When culture is not transferred, children are exposed to new global culture that might be different from the norm.

The results are the families that have low moral standards and which values are questionable. Generally, organizations require physical, human, and informational resources for their operation; business-leaders should realize that human capital is the most crucial capital their organizations have.

In a modern globalized world, organizations have diverse human capital; to manage the capital effectively, companies need to adopt international human resources management strategy. The strategy assists an organization benefit from its personnel diversity as it mitigates risks associated with a diverse workforce. With culture globalization the workforce seems to have the same ideologies an attributes that hinder creativity, innovation, and invention (Sheila 56-78).

Globalization has resulted into culture diffusion, culture sharing, and multiculturalism; the uniformity in culture facilitates trade among nations and promotes international relations and understanding.

However, multiculturalism has been blamed of dilution of people’s cultural values, norms, and virtues. Multiculturalism has also been challenged as a mere statement by business philosophers that will not be attained in the near future as family structures vary among different parts of the globe.

Sheila, Lucy. Globalization and Belonging: The Politics of Identity in a Changing World . London: Rowman & Littlefield, 2004.

• Local Museums and Their Cultural Heritage
• Creating a Theory of Cultural Literacy
• Android Platform and Diffusion of Innovations
• Diffusion of Innovation: Key Aspects
• Discussion about diffusion of innovation
• Clothing and Culture
• Coping With Cultural Shock and Adaptation to a New Culture
• American Cultural Imperialism in the Film Industry Is Beneficial to the Canadian Society
• Popular Culture: The Use of Phones and Texting While Driving
• Culture Jamming
• Chicago (A-D)
• Chicago (N-B)

IvyPanda. (2018, October 25). The Effect of Globalization on a World Culture. https://ivypanda.com/essays/globalization-and-culture/

"The Effect of Globalization on a World Culture." IvyPanda , 25 Oct. 2018, ivypanda.com/essays/globalization-and-culture/.

IvyPanda . (2018) 'The Effect of Globalization on a World Culture'. 25 October.

IvyPanda . 2018. "The Effect of Globalization on a World Culture." October 25, 2018. https://ivypanda.com/essays/globalization-and-culture/.

1. IvyPanda . "The Effect of Globalization on a World Culture." October 25, 2018. https://ivypanda.com/essays/globalization-and-culture/.

Bibliography

IvyPanda . "The Effect of Globalization on a World Culture." October 25, 2018. https://ivypanda.com/essays/globalization-and-culture/.

Part 1: The end of globalization?

Globalization is an ongoing process in which the world appears to be converging economically due to the greater interdependence that the movements of capital, goods, services and people across borders create between the world economies. It’s a process through which geographic, cultural, economic and institutional distance between countries seems to shrink. It is characterized by a systemic interconnectedness where what happens in one country influences all the others in the system.

Connecting current events around the world and looking at the underlying forces, business leaders need to ask themselves if globalization is unravelling. We are living in a transition time where we have not recovered from the 2008 financial crisis and its imbalances.

We can draw multiple parallels with our current situation and previous episodes of deglobalization, such as what happened almost 100 years ago in the wake of World War I: rising geopolitical tensions, financial imbalances, rising inequalities, ecological concerns and growing populism. History has shown globalization is not linear and can reverse. The troubling thing is that the outcome is invariably correlated with wars and poverty.

Examining aggregated world data, we can conclude that globalization seems, at best, to be on pause. FDI has not recovered from its pre-financial crisis level and world trade, although still rising, is not growing as it did before 2008. A real concern is the rise of inequality in the Western World, and the rise of protectionist measures around the planet. For example, from January to August 2016, G20 countries alone introduced more than 350 discriminatory measures against foreign interests versus 100 to liberalize trade. Regarding FDI, G20 countries have introduced more than 10 times as many restricting measures against FDI flows as liberalizing measures.

The problem with these measures is that they are harming growth, and low growth fuels a vicious cycle of further disenchantment among citizens around the world. Even if the CETA was signed in Brussels recently, there is still a long and hazardous way ahead to secure the long-term viability of this new commercial agreement. Thirty eight national and regional parliaments of the EU will have to formally ratify it: with French elections looming and in the current political context, anything can happen.

While the appetite for more globalization seems to be unravelling in the West, in emerging markets and China it is growing.

The main problem in Western economies is the perception that globalization has impoverished the middle classes whose jobs and income have been pushed downward by both migrants working for cheaper and multinationals offshoring many activities to lower cost countries. With the departure of the UK, EU’s second largest economy, and the persistent imbalances the Euro accentuates between European economies, the political, financial and budgetary stability of the EU is at stake. There is now a real risk of the disintegration of the world’s largest trading block.

In emerging markets generally, and in China in particular, there are no real second thoughts about globalization since hundreds of millions gone from poverty to middle class since the 1990s. The Chinese will push globalization as far as they can go, for example by buying more and more assets in Europe and by dominating Africa and Asia, and will continue to play on the current economic weakness of the West and on the rivalry between Europe, the US and Russia. But they are likely to face growing resistance to their buying-spree as the recent veto by Germany to a strategic acquisition shows. Germany justified the move on the grounds of national security and the lack of reciprocity to Western firms in China.

Globalization could be at best on a pause but we may be soon reaching a point where it could unravel altogether. Potential tipping points, or black swans, include:

• The refugee crisis in Europe combined with Islamist fears that accelerate crises of national identities
• A debt hangover that may abruptly take down the Chinese economy and drive bankruptcies and a surge of unemployment around the world
• Effects of persistent low interest rates and unbalances between supply and offer of money with the distorting effect of quantitative easing
• The medium-run impact of robotics and artificial intelligence on employment
• A nuclear attack by North Korea
• Unplanned climate change disasters

Slower growth, major economic imbalances, the rise of China and the rising inequalities that free-trade entails, if not handled properly at the policy level, could lead Western voters to elect governments that will enforce radically protectionist agendas. This is how globalization could go further into reverse.

There were strong signals of growing economic and geopolitical rivalry in the period leading to World War I but it was only after 1931, over 20 years later, that things started to implode. If we take the 2008 financial crisis as the inflection point, it may still take a long time for things to unravel. While this might not happen, if globalization does unravel there would be significant costs for businesses. In Part 2 we explore what businesses can start doing today to influence the evolution of globalization.

Stéphane J. G. Girod is Professor of Strategy and International Business at IMD. He discusses globalization on IMD’s Wednesday Webcast part 1 and part 2 .

Research Information & Knowledge Hub  for additional information on IMD publications

Europe has enlisted Mario Draghi to boost economic dynamism. His upcoming report will address lagging growth, digital transformation, and AI invest...

Peter Lorange explains how artworks support his decision-making process and can also help new businesses thrive.

Demand Planning Key Performance Indicators (KPIs) are frequently criticized for being too complex or irrelevant. However, an emerging approach is g...

FUCHS SE's journey in China shows how its FUCHS2025 strategy balances global ambitions with local agility, leveraging local expertise for global in...

Never heard of NIO? Those who haven't are set to become few and far between, as the electric vehicle (EV) maker continues its fast and furious rise...

After the first and second waves of globalization, we are firmly in wave three. See it clearly in this three-question quiz.

The current evolution of global value chains (GVCs) calls for moving beyond the “unipolar” view of lead multinational enterprises (MNEs) as sole ru...

The case study delves into strategic transformation and leadership transitions at Unilever since 2009. Unilever has been an industry leader of busi...

Earlier this month, the European Union began executing its tariffs on China for electric vehicle (EV) imports, yet the dated practice of taxing pro...

• SUGGESTED TOPICS
• The Magazine
• Newsletters
• Managing Yourself
• Managing Teams
• Work-life Balance
• The Big Idea
• Data & Visuals
• Reading Lists
• Case Selections
• HBR Learning
• Topic Feeds
• Account Settings
• Email Preferences

The State of Globalization in 2023

• Steven A. Altman
• Caroline R. Bastian

Data disproves the notion that the world has become more regionalized in recent years.

Plummeting flows of trade, capital, and people at the beginning of the Covid-19 pandemic prompted a wave of speculation about the end of globalization, and Russia’s invasion of Ukraine brought even more predictions of a retreat toward national self-sufficiency. But, according to research for the latest DHL Global Connectedness Index, international flows show no signs of a sustained downturn. The data shows a broad pattern of decoupling between the U.S. and China, but the flows of countries that are geopolitically aligned with the U.S. and China do not — at least yet — indicate a broader split between rival blocs. Nor is there evidence that globalization is giving way to regionalization. While companies do need to adjust for heightened geopolitical tensions, they should not abandon global strategies. Corporate deglobalization, in fact, could be a riskier path than making focused adjustments to mitigate geopolitical risks.

Three key questions lie at the heart of debates about whether global crises and escalating geopolitical tensions have begun to reverse globalization: Has the growth of cross-border trade, capital, information and people flows gone into reverse? Are geopolitical tensions fracturing the world economy into rival blocs? And is globalization giving way to regionalization? The answer to all three questions — despite evidence of U.S.-China decoupling — is still “no.”

• Steven A. Altman is a senior research scholar, adjunct assistant professor, and director of the DHL Initiative on Globalization at the NYU Stern Center for the Future of Management .
• CB Caroline R. Bastian is a research scholar at the DHL Initiative on Globalization.

Partner Center