Globalisation Vs Globalization

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Arguing against globalisation is similiar to arguing against the law of gravity . Plant a tree ,benefit from the fruits tommorrow and the shadow thereafer. This process is similar to gloabilasation . Many people tend to say that arguing agaisnt the process of globalisation is similar to arguing against the law of gravity that is it makes no sense .AS we know without gravity we will not be standing on our feet as there will be no force of attraction ,so is the case of globalisation as without the process the world's econmy will be a total mess asthere will be no trade and interaction taking place across the various countries . Globalization is commonly refered to as the process of social ,political ,economical and cultural change .Another…show more content…
There has also been a shift in power away from the nation state and toward, some argue, multinational corporations. We have also witnessed the rise and globalization of the ‘brand’. It isn’t just that large corporations operate across many different countries but they have also developed and marketed products that could be sold all around the world . Brands like Coca Cola, Nike, Sony, and a host of others have become part of the fabric of vast numbers of people’s lives. According to researchers globalization involves the diffusion of ideas, practices and technologies. It is something more than internationalization and universalization. It isn’t simply modernization or westernization. It is certainly isn’t just the liberalization of markets. Anthony Giddens (1990) has described globalization as ‘the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa’. This involves a change in the way we understand geography and experience local activities . Furthermore according to Malcolm Waters (2001), there are three types of human exchanges that can be more easily globalized, that is in other words deterritorialized. The…show more content…
This has affected the local markets dramatically. In recent times the standard of living has improved. People are therefore ready to shell out extra money for a product that may be available at a lower price. This is because of the modern marketing techniques like advertising and branding. The local players thereby suffer huge losses as they lack the potential to advertise or export their products on a large scale. Therefore the domestic markets shrink. Conflicts Every economy wants to be at the top spot and be the leader. The fast-paced economies, that is the developed countries are vying to be the supreme power. It has given rise to terrorism and other forms of violence. Such acts not only cause loss of human life but also huge economic losses. Monopoly Another disadvantage is the increasing level of monopolies. Usually amonopoply is a situation whereby only one seller has a say in a particular product or products. It is possible that when a product is the leader in its field, the company may begin to exploit the consumers. As there exists no close competitors, the leader takes full advantage of the sale of its product, which may later lead to illegal and unethical practices being followed. Monopoly is disastrous as it widens the gap between the developed and developing

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