ASSIGNMENT-1 OF COMPARITIVE GEOPOLITICAL SYSTEMS

SUBMITTED BY:-

GLOBALIZATION:
Globalization is not a new word in the world of business and also to the common people. As far as the definition of Globalization is concerned, there is no such single definition on which all the disciplines of study have agreed upon. One of the famous sociologists has defined globalization with 3 different concepts: (1) y y y Globalization as transference between the already defined items that may be in term of politics, culture or economics; Globalization as transformation on system level; Globalization as transcendence which affects the basic conditions of existence (Bartelson, 2000).

From financial point of view, Financial Globalization has strengthened the links between Banks and the financial markets. Banks which are well developed and have good credit have the main role to play in Financial Globalizations. (2) Globalization also helps in boosting up of many activities like Foreign Direct Investment (FDI), Telecommunication Developments, and Cross Border Trade activities and also in technologies
sector.(1).

ARGUMENTS IN THE GLOBALIZATION:

FAVOUR

OF

1. ELIMINATED COMMUNICATION BARRIERS: Few years ago it was almost impossible for the people who belong to different countries and also culture to communicate with each other. But now days one person who is living in one corner of the world can communicate to the other person living in other part of the world within seconds .All of this became possible with the help of globalization. 2. INCREASE EMPLOYMENT OPPORTUNITIES: According to our point of view this is the strongest positive effect of the globalization. Every year many successful industries are moving to the developing and under developing countries and due to this many people of these countries gets job opportunity who have talent and ability. 3. DEFUSING OF EDUCATION: Globalization has opened many doors of education for those students who want to improve their knowledge. Few years ago it was almost impossible for students to get an international education. But now days every year many students are moving to different countries to get higher education according to their interest.

4. GROWTH OF INTERNATIONAL BUSINESS: Globalization has removed geographical boundaries and made international business possible. This has increased the quality of goods and services offered to the customers due to tough competition and removed monopoly in many countries. 5. REMOVE SOCIAL BARRIERS: Many people who belong to different culture, different social background, and different races are doing work under one roof. People of different religion and culture share their ideas, thought etc. with other people.

ARGUMENTS AGAINST GLOBALIZATION:

1. WIDER ECONOMIC GAP: Globalization has shown its negative impact on poor nation as international capital moves into developing nation the rich (countries and classes) get richer and the poor get poor ( 1 ). Example-poor countries are facing the problem of brain drain, foreign debts and many more. 2. UNEMPLOYMENT IN DEVELOPED COUNTRIES: This side effect has occurred because multinational companies in rich nations have been actively outsourced their manufacturing activities to the third world nations with the purpose of lowering the cost of labor and the cost of production. ( 3 ) 3. MORE CONFLICTS ( 4 ): People from different cultural backgrounds have different views and opinion on several issues due to which sometimes conflicts arises between them. (e.g. terrorism)

OUR OPINION:
We all are in the favour of globalization because it has given opportunity to every country to grow its economy. In addition, Globalization has brought advantages to customers ( 5 ) by providing a large range of goods and services. Moreover its because of globalisation we got the opportunity to get education from Centennial College. Everything in this world has its advantages and disadvantages and similarly Globalization has its own positive and negative points but benefits created by it far outweigh the disadvantages. Overall, we are convinced that we should further promote globalization.

SOURCES:
1. Ch, Muhammad Akram (2012). "Globalization's Impacts on Pakistan's Economy and Telecom Sector of Pakistan". International journal of business and social science (22191933), 3 (1). 2. Assoc.prof.Ph.D Cristi MarcelS.Ph.D lect.Oana G.Globalization and performance in banking activity. 3. http://www.english-test.net/forum/ftopic49575.html 4. http://www.notehall.com/gw/notes/politicaleconomic
5. http://www.essayforum.com/writing-feedback-3/globalisation-effect-worlds-economy-20014/