Globalization: Bringing us closer

Globalization is a tidal wave of interaction and integration among people of different nations and backgrounds. This process is driven by international trade and investment, aided by information technology. It has a cardinal effect on the environment, culture and political systems. But the outcome taken as the most important is that, it brings people together; creating what I feel is a necessary bond among citizens around the world. 

Although not a foreign topic, there has been a rapid increase in these past decades, majorly as a result of the internet. The internet allows education to be spread about events, cultures and ideologies in other countries and provides for a vessel of communication between people whom would have been complete strangers otherwise. Advances in information technology have dramatically transformed economic life. There have been more informed analyses of economic trends around the world, easier transfers of assets, and collaboration with far-flung partners.

In another perspective, it provides a platform for cross - border trade, investment and greater economic development. The current wave of globalization has opened up economies internationally, calling for more communication throughout the nations. This vastly increases their own productive potential and creates myriad new opportunities for international trade and investment.Taking advantage of new opportunities in foreign markets, corporations have built foreign factories and established production and marketing arrangements with foreign partners. A defining feature of globalization, therefore, is an international industrial and financial business structure.

Businesses can communicate efficiently and effectively with their partners, suppliers, and customers and manage better their supplies, inventories, and distribution network. Local producers can sell their products in distant markets with the same ease and speed as in their home country. Globalization sets the world economy into a virtuous cycle of income and employment growth; and easy credit and leverage fuel financial bubbles that feed into a euphoria that perpetuates the virtuous cycle. Being able to share ideas enables and empowers people to make changes in their communities through inspiration from others.

Along with products and finances, ideas and cultures circulate more freely. As a result, laws, economies, and social movements are forming at the international level. Citizens all over the world—people from the global North and South—can work together to shape alternate futures, to build a globalization of cooperation, solidarity and respect for our common planetary environment. It is a catalyst for innovation; a force which brings the world to an alliance by taking advantage of growing communication. Generally, a globalized and interconnected world opens doors that would have never otherwise existed. Human societies across the globe have progressively gotten closer, resulting in better living, a better business world and vital education.