SIGNIFICANCE OF GLOBALIZATION 1

Significance of Globalization

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Globalization can be defined as the escalation of cross-national interactions that enhance the

development of trans-national structures and integration of cultural, economic, ecological,

political, technological and social processes on global, super national, national, regional and

local levels. Despite globalization being viewed as a threat in the current society based on some

of its adverse implications, it is evident that it has more than just an economic phenomenon that

has taken place on a worldwide scale. The increased international flow of goods and services,

financial capital, information, and people are all apparent symptoms of globalization. There are

also technology advancements and increased cross-border cultural contacts.

Health department has also found favor in the global environment and its growth. Martens

and Huynen (2010) suggest that changes in disease causes are influenced not just by economic

changes, but also by changes in the social, political, and environmental domains at the local,

regional, and global levels. Over the centuries, health advances in affluent countries have

primarily been attributed to social and environmental changes, whereas more recent health

improvements in underdeveloped countries can be attributed to knowledge transfer and socio-

cultural variables. All of these significant health variables are now influenced by global

activities. As a result, globalization and its underlying processes have necessitated health factors

and its related consequences to change dramatically. As a result, the geographic scope of major

health challenges is expanding dramatically. Perhaps the most well-known health aspect of

globalization is the link between global mobility and the spread of infectious illnesses. Health

determinants and it’s possible outcomes have also been broadened.

Furthermore, globalization is logically a significant push for businesses to adopt certain

ICTs such as the Internet and e-commerce, as it as compared to how it has been in the past.

There is also empirical evidence to back up the link. According to macroeconomic statistics,
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countries with more globally oriented economies (open to trade and external investment) have

greater ICT investment levels (OECD, 1999). Because businesses are the ones who make the

majority of these expenditures, it's reasonable to assume that companies with a worldwide focus

will be more inclined to adopt technologies like the Internet and e-commerce.

Other country-level empirical research back up the claim that opening markets to trade and

foreign investment encourages indigenous enterprises to invest in ICTs in order to stay

competitive (Dedrick et al., 2001). As a result, the globalization process is proven to be a logical

and empirical motivation for enterprises to adopt certain ICTs such as the Internet and e-

commerce.

Globalization has not only brought more benefits but has also helped provide insights to

areas where the states should highly focus on and develop relevant strategies. Robertson (2004)

states have never shown effectiveness in managing the global economy. Many advocates now

argue that they frequently prioritized the welfare of their own dominating classes over the

wellbeing of the individuals they claimed to represent. They also fueled destructive competition,

imperialism, and war in the process. Frequently, on a global scale much beyond their control.

Global institutions alone will not be able to eliminate these dangers. Institutional aims must

become more specific and focus toward the development of public goods. For these reasons,

many advocates for the abolition of non-performing global institutions such as the World Bank

(WB), the transformation of global institutions such as the World Bank (WB), and the

transformation of global institutions such as the World Bank (WB). The International Monetary

Fund (IMF) has been transformed into a World Central Bank, as well as the establishment of

new global institutions

Institutions only portray effectiveness when they encourage and deepen democratization and

make it easier for people to participate. It's important to remember that democracy is a two-way

street and involves more than only institutions of control, regulation, or oversight. Democratic

institutions must entail a number of things in order to obtain widespread respect including human

empowerment, capacity-building, and well-being are all important factors. In addition, we must

consider how state-based institutions could be reformed to better fulfill the needs of citizens,

concerns that affect the entire world currently, the demands of local constituencies in a greater

way. Protectionism is more likely to sustain governmental interest.

Despite the fact that nationalism is considered in political and economic decision making, it

is unsuited to the demanding needs of globalization today. (Giddens 2000) explains that the

interests of financial capital and major enterprises are no longer served by national boundaries.

Griffin reminds us that nationalism fosters protectionism, which denies developing societies

income-generating opportunities, adds to global disparities and political instability, and

exacerbates the impact of global recessions. No country, no matter how nationalistic, can

completely avoid these ramifications. Indeed, globalization has necessitated the transcendence of

national boundaries, making them less significant. The globe will never handle global concerns

or improve global interactions without global decision-making systems.

Consequently, State systems have been forced to be more cohesive and responsive than

previously, and they have to be less hierarchical. States have to make massive investments in

communication, infrastructure and human resources. On a scale and in a depth that human

communities have never imagined before, the old elites' power would be jeopardized by such

democratization. They attempted to limit the influence of democratization by focusing on

colonial victories by distracting disgruntled individuals. To counteract the effects of the war,
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Japan turned to empire, uneven development at home and international competition The United

States of America Empire was intended to signify the country's great power position, obtain

access to new resources from overseas, and bestow universal benefits.

Moreover, there has been a worldwide environmental problem of tackling sustainability

challenges. Griffin (2003) elaborates that in the same way democracy cannot thrive in a sea of

poverty, neither can capitalism. As a result, it is unable to thrive in a disease-ridden environment.

A ridden corporate behavior, particularly the pursuit of short-term profits, is a global issue. In

this case, isn't really useful. It contributes to a variety of environmental and social issues.

Catastrophes in terms of health State quests for industrial strength and big power are similar

statuses. However, the problems go far beyond these two institutions. Based on the fact that

environmental issues are cumulative and worldwide, they can only be solved through

collaborative global plans that leverage technology in ecologically sensitive ways.

Globalization should not only be adopted based on the positive influence it gas on many

sectors, but firms must also be ready to incur the costs involved. This includes expenses incurred

when shifting into the new mode of operation as well as cost of adaptation.
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REFERENCES

Dedrick, J., Kraemer, K. L. and Palacios, J. J. 2001. Impacts of liberalization and economic

integration on Mexico's computer sector. The Information Society, 17(2): 119–132. [CSA]

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Griffin, Keith (2003) ‘Economic Globalization and Institutions of Global Governance’,

Development

and Change 34(5): 789–807.

Giddens, Anthony (2000) Runaway World: How Globalization is Reshaping Our Lives. London:

Profile Books

Martens, P., Akin, S. M., Maud, H., & Mohsin, R. (2010). Is globalization healthy: a statistical

indicator analysis of the impacts of globalization on health. Globalization and health,

6(1), 1-14.

Organization for Economic Cooperation and Development. 1999. The economic and social impact of

electronic commerce, Paris: OECD.  [Google Scholar]

Robertson, R. (2004). The historical context and significance of globalization. Development and

Change, 35(3), 557-565.