Globalization and resources. 2. Political Globalization –

Globalization and Growth

By: Soham Darji

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A process of elevated
interaction and integration amidst the population, companies and bureaucracy of
different nations is referred to as Globalization. It is a process driven by
international trade and investment which has its effects on social as well as
cultural aspects.

Globalization is not a new
experiment or a process. Globalization has been practiced previously for
thousands of years and has been continued. People and corporations have been
investing in enterprises in other countries for centuries. The developments in
technology and introduction of new policies for globalization have triggered an
elevation of migration, international trade and investments in a massive scale.
Many observers believe that the world has entered a new qualitative phase in
economic development.

The types of globalization include:

1.      Economic
Globalization – A free trade policy that permits the easy transfer of goods,
productions, capitals and resources.

2.      Political
Globalization – The mutual agreements and adoptance of policies of Free trade
and Globalization.

3.      Technological
Globalization – Affordable connection to the technology and internet for all
e.g. Jio.

4.      Sociological
Globalization – All humans are born as equal and should be treated equally.
Women empowerment and Human rights policies is an example of sociological
globalization.

5.      Ecological
Globalization – Destroying the thought of parts of the world and considering
the earth ecosystem as a single ecosystem and fighting against the arising
ecological issues such as Global warming.

6.      Cultural Globalization
– The promotion of availability of entertainment, food, apparels from all parts
of the world at every nation and thus destroying culture barriers. Thus,
forming a feeling of equality in diversity.

7.      Financial Globalization