Govt200 Midterm Question 1

In: Historical Events

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What is globalism and its effects on the modern political world?

“Economic globalization is a historical process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders.” (Rourke Pg. 5) As our textbook implies globalization started to take of in the 1980’s. Some of the reasons for this advancement were; better transportation infrastructure, communication advances, and the single most important factor for globalization today, the internet. The internet brought a world that was days apart to seconds apart. Companies could now communicate within seconds to branches all over the world. Important correspondence could now be emailed in seconds instead of taking days or weeks.
“The growth in global markets has helped to promote efficiency through competition and the division of labor – the specialization that allows people and economies to focus on what they do best.” (Rourke Pg.6) Globalization has helped the world move to a closer community where we are working together to advance the world’s economy. Globalization has also increased competition in the marketplace and with this competition better products are manufactured. The consumer ultimately benefits from this increased competition amongst manufacturers. “Perhaps more importantly, globalization implies that information and knowledge get dispersed and shared.” (Rourke Pg. 6) Developing nations are benefitting from the knowledge they are gaining from first world nations as they increase their economy.
Everything is not all peachy with globalization; there are emerging problems that will have to be dealt with on a worldwide size. “Beyond climate change, two other trends may produce major development challenges in the decades to come: the continuing growth of…...

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