General View on Globalization (Essay Sample)

Globalization
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Globalization
Supporters of globalization argue that it has the potential to make the world a better place to live in and solve some of the problems in the society like unemployment and poverty. It is therefore a tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, so as to increase the interconnection of the world. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical welfare in societies all over the world.
This current wave of globalization has been driven by policies that have opened economies domestically and internationally.Public policy and technology are the two main driving factors behind current globalization.Over the past few years, world governments have integrated a free-market economic system into fiscal policies, monetary policies and trade agreements. This evolution of economic systems has stimulated domestic production potential and opened countries to increased financial opportunities abroad. World governments now focus on decreasing barriers to trade and actively promote international commerce in relation to investments, goods and services.Technology has also been a major reason for the growth in globalization. Advancements in information technology (IT) and the flow of information across borders have empowered individuals to take control of their financial lives.Tech