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500+ Words Essay On Globalization: Transportation of Goods

Globalization refers to the integration of people, companies, and governments worldwide through increasing international trade and cultural exchange. It began with early trade routes but accelerated over time with improvements in transportation and communication technologies. Major developments included the Silk Road in the 1st century BC, the spread of Islam and Arab trade networks in the 7th-9th centuries AD, the age of discovery and global trade between Europe and the Americas in the 15th century, and the dominance of British trade and shipping in the 19th century. Globalization has expanded rapidly since the 20th century due to developments like the internet, and organizations like the WTO have worked to reduce trade barriers between nations. While it poses challenges, globalization also provides opportunities to

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Frere Jacques
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407 views

500+ Words Essay On Globalization: Transportation of Goods

Globalization refers to the integration of people, companies, and governments worldwide through increasing international trade and cultural exchange. It began with early trade routes but accelerated over time with improvements in transportation and communication technologies. Major developments included the Silk Road in the 1st century BC, the spread of Islam and Arab trade networks in the 7th-9th centuries AD, the age of discovery and global trade between Europe and the Americas in the 15th century, and the dominance of British trade and shipping in the 19th century. Globalization has expanded rapidly since the 20th century due to developments like the internet, and organizations like the WTO have worked to reduce trade barriers between nations. While it poses challenges, globalization also provides opportunities to

Uploaded by

Frere Jacques
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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500+ Words Essay on Globalization

Globalization refers to integration between people, companies, and


governments. Most noteworthy, this integration occurs on a global
scale. Furthermore, it is the process of expanding the business all over
the world. In Globalization, many businesses expand globally and
assume an international image. Consequently, there is a requirement for
huge investment to develop international companies.

How Globalization Came into Existence?

First of all, people have been trading goods since civilization began. In
the 1st century BC, there was the transportation of goods from China to
Europe. The goods transportation took place along the Silk Road. The
Silk Road route was very long in distance. This was a remarkable
development in the history of Globalization. This is because, for the
first time ever, goods were sold across continents.

Globalization kept on growing gradually since 1st BC. Another


significant development took place in the 7th century AD. This was the
time when the religion of Islam spread. Most noteworthy, Arab
merchants led to a rapid expansion of international trade. By the 9th
century, there was the domination of Muslim traders on international
trade. Furthermore, the focus of trade at this time was spices.

True Global trade began in the Age of Discovery in the 15th


century. The Eastern and Western continents were connected by
European merchants. There was the discovery of America in this period.
Consequently, global trade reached America from Europe.

From the 19th century, there was a domination of Great Britain all over
the world. There was a rapid spread of international trade. The British
developed powerful ships and trains. Consequently, the speed of
transportation greatly increased. The rate of production of goods also
significantly increased. Communication also got faster which was better
for Global trade.

Finally, in 20th and 21st -Century Globalization took its ultimate form.
Above all, the development of technology and the internet took place.
This was a massive aid for Globalization. Hence, E-commerce plays a
huge role in Globalization.

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Impact of Globalization

First of all, Foreign Direct Investment (FDI) increases at a great rate.


This certainly is a huge contribution of Globalization. Due to FDI, there
is industrial development. Furthermore, there is the growth of global
companies. Also, many third world countries would also benefit from
FDI.

Technological Innovation is another notable contribution of


Globalization. Most noteworthy, there is a huge emphasis on
technology development in Globalization. Furthermore, there is also
technology transfer due to Globalization. The technology would
certainly benefit the common people.
The quality of products improves due to Globalization. This is because
manufacturers try to make products of high-quality. This is due to the
pressure of intense competition. If the product is inferior, people can
easily switch to another high-quality product.

To sum it up, Globalization is a very visible phenomenon currently.


Most noteworthy, it is continuously increasing. Above all, it is a great
blessing to trade. This is because it brings a lot of economic and social
benefits to it.

Globalization is an irreversible and irresistible phenomenon. It is very famous


all over the world. While dilating on the subject, it is important to note that
globalization not only affects us as a citizen but also as “producer-consumer in
the global economy”.
In the modern contemporary world, intense debate revolves around the term
“globalization”, which is even today a continuous issue.
Before exploring the concept, we should take a look over the different
definitions of the phenomenon. Globalization can be defined as “closely
interrelated integration of market in terms of goods, services and capital”. It
can also be defined as “gradual erosion of boundaries between states through
increased economic interdependence and interlinkages can be termed as
globalization.
From the above mentioned definitions, we can assume that globalization is
the mutual sharing of goods, services and capital between or among states. It
is also gradually making states closer and integrated. There are different
theories about the beginning of the concept of globalization.
Some are of the view that it started from the mid of 20th century with woods
conference 1944. While the others are of the view that this concept was
properly started with the establishment of W.T.O in 1995. Whatever the reality
is, it is true that the pace of globalization was accelerated with World trading
Organization. the main agenda of this organization was to end border and
fasten the trade between the states.
World bank also came in this battle of evolution of globalization and identifies
three waves of globalization focusing on economic integration.
1. First wave of globalization from 1854 to 1914.
2. Second wave of globalization from 1945 to 1973.
3. Third wave of globalization from 1973 till today.
In the post 1973 era, the cold war subsided and there was a quantum leap
forward in the “economic integration”. The free market economy became the
guiding principal and global economy spread to the larger part of the world.
There is a difference of opinion among people for beginning of the concept but
nobody can deny its importance in the modern contemporary world. From now
to onward, we will examine how trade, growth and poverty are interlinked and
how best the benefits of globalization acquired to ameliorate threat to
humanity. Presumably, solutions to such problems would then avert a
backlash against globalization.

Globalization refers to the availability of technology or businesses all around


the world. It is spreading worldwide rapidly and globalize technologies,
philosophies, products and so forth. Without any limitation of national
boundaries and time zone, globalization interconnects marketplace. One of
the major examples of globalization is spreading of outlets of McDonald's. Its
strategy became so popular that it starting adopting the cultures and tastes of
different countries and became the local taste of people.
To humanity, it is difficult to decide whether it has positive or negative
impacts. Impossible to ignore, globalization has created multiple opportunities
for people around the world and has changed the lifestyle. If taken positively it
helps in eradicating cultural and regional differences.

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