Globalization refers to the increasing interconnectedness between countries, particularly in the economic, political, and cultural realms. It involves reducing barriers to international trade and liberalizing economies. While globalization has increased economic growth and living standards in many places, it has also contributed to issues like job losses, cultural homogenization, and greater spread of diseases. Its effects on developing countries have been mixed, with some experiencing stronger gains than others. Overall, more can be done to help poorer nations benefit from globalization.

1. ….a strategy of liberalization that contributed to
economic growth in developed and developing countries.
A Presentation by Srijit & Devashish

2. What is Globalization?
Globalization is the process of increased interconnectedness
among countries most notably in the areas of
economics, politics, and culture. It is the global distribution of the
production of goods and services, through reduction of barriers
to international trade such as tariffs, export fees, and import
quotas.

3. The Four Aspects of Globalization
Globalisation as Globalisation as
westernisation or Globalisation as Globalisation as
liberalisation: Removing
modernisation: the social universalization: Spreading deterritorialization:
government-imposed
structures of modernity various objects and reconfiguration of
restrictions in order to
(capitalism, rationalism, experiences to people at all geography, so that social
create an open, borderless
etc.) are spread the world corners of the earth. space is no longer wholly
world economy
over, normally destroying mapped in terms of
pre-existent cultures and territorial places, territorial
local self-determination distances and territorial
borders

4. Is Globalization a good thing?
Positive Aspects of Globalization
As more money is poured in to developing countries, there is a greater
chance for the people in those countries to economically succeed and
increase their standard of living.
Global competition encourages creativity and innovation and keeps prices
for commodities/services in check.
Developing countries are able to reap the benefits of current technology
without undergoing many of the growing pains associated with
development of these technologies.
Governments are able to better work together towards common goals now
that there is an advantage in cooperation, an improved ability to interact
and coordinate, and a global awareness of issues.
There is a greater access to foreign culture in the form of movies, music,
food, clothing, and more. In short, the world has more choices.

5. Is Globalization a good thing?
Negative Aspects of Globalization
Outsourcing, while it provides jobs to a population in one country, takes
away those jobs from another country, leaving many without opportunities.
Although different cultures from around the world are able to interact, they
begin to meld, and the contours and individuality of each begin to fade.
There may be a greater chance of disease spreading worldwide, as well as
invasive species that could prove devastating in non-native ecosystems.
There is little international regulation, an unfortunate fact that could have
dire consequences for the safety of people and the environment.
Large Western-driven organizations such as the International Monetary Fund
and the World Bank make it easy for a developing country to obtain a loan.
However, a Western-focus is often applied to a non-Western situation, resulting
in failed progress.

6. Some of the effects of Globalization
Brain Drain: Working Conditions: BPO’s:
Opportunities in rich In some developing In rich countries, business
countries attract skilled countries labor policies process outsourcing has
workers from poor provide less protection than been a double-edged sword;
countries, leading to brain in developed countries. One it enabled cheaper services
drains. For example, nurses example is the use but displaced some service-
from poorer countries come of sweatshops by sector jobs. However, in
to the US to work. This manufacturers. Clothing lower-cost locations such
phenomenon cost Africa makers such as The Gap and as India, the outsourcing
over $4.1 billion for the Nike were accused of industry is the primary
employment of 150,000 contracting with factories engine of the country’s
expatriate professionals that used child labor in development over the next
annually. violation of local and US few decades…
law.

7. Some of the effects of Globalization
Environmental: Ecological: Health:
Environmental challenges
The advent of global Starting in Asia, the Black
such as climate
environmental challenges Death killed at least one-
change, cross-boundary
that might be solved with third of Europe's population
water and air pollution and
international cooperation in the 14th century. Even
over-fishing of the
include climate change, worse devastation was
ocean, require trans-
cross-boundary water and inflicted on the American
national/global solutions.
air pollution. Since many supercontinent by European
Since factories in developing
factories are built in arrivals. 90% of the
countries increased global
developing countries with populations of the
output and experienced less
less environmental civilizations of the "New
environmental
regulation, globalism and World" such as the Aztec &
regulation, globalism
free trade may increase Maya were killed by small
substantially increased
pollution and impact on pox brought by European
pollution.
precious fresh water. colonization.

8. Globalization in India
India had the distinction of being the world's largest economy in
the beginning of the Christian era, as it accounted for about
32.9% share of world GDP# and about 32.5% of the world
population. The goods produced in India had long been exported
to far off destinations across the world. Therefore, the concept of
globalization is hardly new to India.
#GDP: Gross domestic product (GDP) refers to the market value of all final goods
and services produced within a country in a given period. GDP per capita is often
considered an indicator of a country's standard of living.

9. Conclusion
As globalization has progressed, living conditions (particularly
when measured by indicators of well being) have improved
significantly in virtually all countries.
However, the strongest gains have been made by the
advanced countries and only some of the countries of the
developing countries.
The fact that the income gap between high-income and low-
income has grown wider is a matter for concern. And the
number of the world’s citizens in abject poverty is deeply
disturbing.

10. Closing Remarks
The international community should endeavor—by
strengthening the international financial system, through
trade and through aid—to help the poorest countries
integrate into the world economy, grow more rapidly, and
reduce poverty.