Globalization is good. Discuss Essay Example | Topics and Well Written Essays - 1750 words

Globalization is good. Discuss - Essay Example (Appadurai, 1996). Industrial Global production markets started surfacing and provided wider access to the international goods for the companies as well as for the customers, more specifically the movement of products and materials within and between state boundaries. In the last fifty years a raise of manufactured products greater than 100 times was recorded since 1950 in global trade. Rise of sevenfold during 2000-2007 was recorded for China's trade with Africa. Financial International financial markets emerged and provided enhanced entrance to external financing for lenders were traded each day for the purpose of increasing investments and business. The port of Shanghai held the title of the busiest port worldwide between 2005 and 2007. (Appadurai, 2001). Economic A world-wide common market was recognized which was based on the exchange of capital and goods. Approximately all renowned international IT companies are located in India and four top IT companies from all over the world were from India and they belonged to the top ten wealthy people and the combined worth of their wealth amounted to 1$160 billion. Compared to China in 2007, India had had 123,000 millionaires while China has 415,000 millionaires. Job Market In the previous years there was no competition in the job market worldwide and the destiny of the employees were tied to the destiny of state economies. However, the case is different today since after the introduction of information era enhancements in communication. As the employees compete in an international market, remunerations are not much reliant on the breakdown or achievement of the economies and this had a huge impact on the income and distribution. Political According to number of people, globalization is the development of the global government that controls the relationship with the other governments and also supports them by providing the rights that occur due to the social and economic globalization. Among all the global powers w orldwide, US is very influential politically because of its strong economy as well as wealth and China has experienced a lot of growth because of the US support. Moreover, US is also playing a major role in the development of the other economies because of its support and contribution in terms of dollars which it is providing to those economies. A number of scholars name globalization as the alteration sovereignty and they say that it reduces taxonomy and the control of national sovereign powers. (Appadurai, 2006). Informational Satellites and communication being done through fibre optic has increased the number of telephones and internet available because of which the flow of information between the distant areas has also increased. Language The most spoken language is Mandarin followed by Spanish and English and 40% of the radio programs are in English which shows that the language is very dominant and this is the most common language which is found on the Internet. Competition In order to survive the competition in the