Essays on The Phenomenon of Globalization Report

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The paper "The Phenomenon of Globalization" is a wonderful example of a report on macro and microeconomics. Globalization is the process of removing barriers to trade and commerce, communications, social cultures, and travel at the international level. Under the process of globalization, international trade in goods and services grows rapidly. It aims to establish free international markets to improve capital transfers between nations. Globalization engenders the growth of large multinational corporations while eliminating the traditional concepts of national boundaries. One of its objectives is to integrate the people of different countries under a single global village (Davis, 2007). The process of globalization has brought about rapid communication.

The exchange of information has become very important, and several networks for sharing information have been established. As the requirements for and barriers to cross border travel have decreased, international travel has increased. Due to globalization, there has been an increase in the movement of workers, goods, and services between countries (Boutaleb). Thus, globalization has brought about dilution in the long-established concepts of national sovereignty and state authority. International relations between nations have improved and the new concepts of international unity and legality have come to the fore.

Globalization has influenced social customs and attempts to establish a common system of social principles. Eventually, globalization will dominate the world and national cultures (Boutaleb). As the age-old adage goes, “ it is an ill wind that blows no good” , thus globalization, with all its shortcomings – real and perceived – has a number of benefits to offer. For instance, despite the petrifying recession that the world is presently witnessed to, a number of groups of varying nature have come together.

The economic crisis has been unable to hinder their attempts to connect with each other (Naí m, Mar/Apr 2009, Pp. 28 – 34). An instance is provided by international charitable organizations, which are certain to be requisitioned for their munificence, as the economic crisis spreads much wider. Moreover, there will be greater demand for religious services, which a large number of people will approach, because of the interest generated in life after death, on account of the current economic difficulties (Naí m, Mar/Apr 2009, Pp. 28 – 34).


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