Globalization is a broad term that refers to the development of mediums that makes for the quick transmission and transport of people, ideas, culture, and resources. Globalization is characterized by events happening in one part of the world it has a far-reaching impact on the rest of the world. For this reason, the term “global village” has become very popular.
Globalization is about connectivity. In the past, events in one country would only affect those within that country. Today this has radically changed, mainly as a result of advancements in communication and trade. For example, countries in the western hemisphere now trade with countries in the Middle East.
Oil is one such commodity that is bought from the Middle East. Because the Middle East is often a conflict hot spot this often interferes with the oil trade. When there is even the threat of conflict the market responds by increasing oil prices and this affects many countries that depend on it. A rise in oil prices can affect countries all over the world.
Aspects of globalization:
Ever since the invention of the airplane travel has continuously become easier. Today planes and ships are capable of taking people all over the world at amazing speeds. People now have many affordable options when it comes to traveling and as such, what once seemed like a large world is now figuratively like a village.
The internet has made the transmission of information instantaneous and global. A person can stay in the West Indies and read about breaking news happening in England. Information located on a server in Japan can be accessed by someone in America. The internet has bridged the distances that once seemed so large, making the world a digital global village.
With the advancement of the industrial age, the rate of production has grown astronomically. This has had an acutely negative impact on the environment with the increase of industrial waste. This problem has grown so large in scale that it does not affect just one country but impacts the world.
One of the big environmental problems brought on by the industrial age is the hole in the ozone layer. As a result of this, the earth is exposed to more harmful rays from the sun. The industrial age also brought on negative changes in the climate. The greenhouse effect and the El Nino phenomenon are now associated with global warming. Many scientists predict that this could eventually result in the melting of the polar ice caps and rising sea levels. Such a situation would become a global crisis as the coastal areas of many countries would be flooded.
Trading between countries is nothing new. It has taken place for many centuries. The level of global trading that happens today however is unprecedented. Not only do we now have air and ship cargo to deliver goods worldwide we also do not trade digital products on the internet.