“Globalization” began many years ago in the early 15th century, just before the ‘Age of Exploration’ or ‘European Age of Discovery’ when people came together to explore America, Asia, Africa and Oceania. The Silk Road, an interconnected trade route for Asian, African and European countries was built in Central Asia by the Han dynasty in 114 BC. The old road opened the way for transportation, goods and people in many countries connected by the road. Trade on Silk Road contributed significantly to the development of the Indian subcontinent, China, Europe, Persia, and the Arabs. It carried and developed countries interconnected with various technologies, philosophies, culture and religions through trade and exchange. As a result, the ‘interdependence’ is not uncommon because for centuries individuals and organizations have been doing business in other lands. Much of what is now available clearly indicates that before World War I broke out in 1914.
‘Globalization’ approached its modern form recently when Roland Robertson first used the term in 1983. It used it to refer to the way business and commerce in the global unrestricted market, which was developed through increased communication and interdependence. ‘Globalization’, the dominant concept of the 20th century, is meaningless. It also affects these major types of changes.
It promotes free movement or economic connectivity, finance, culture, trade, migration, and so on. Global borders become household items. It is a proven way to exchange money, goods and services for free in an unlimited world and streamline operations to protect critical resources (e.g., skilled jobs, brain drain, etc.). Manufacturers and manufacturers are planning to create the most efficient and cost-effective solution for sale. They are no longer living in other stable countries as before. This has led many businesses to set up or purchase jobs in other countries. Here an American or British company could plan to manufacture in Thailand or China to sell to Europe or other growing or developing markets. Because, in this way, they can make the same good things at a lower cost and sell them to other places where they can make more money. This is a major benefit of ‘the interdependence of the world’ in a simple way. An American company instead of using a high-paid office or customer service provider can get the same job through Indian BPO for one price. It is the process by which countries depend on each other in many areas of life. It is a process that unites people around the world into a single entity with a common identity.
The International Monetary Fund has identified four key areas of ‘Globalization’. Ali:
• the exchange of wealth between corporations and international trade and cooperation through customer-supplier relations;
• Moving into finance, finance, technologies, manufacturing and innovation
• movement or migration of persons; and
• Distribution of information.
The great benefits of ‘globalization’ can be summed up as follows:
• Globalization has helped bring about economic growth in many developing countries due to increased foreign exchange reserves and jobs in other countries.
• A variety of international tools are used appropriately.
• Vendors take a wide range of options to compete.
Manufacturers, manufacturers, funders and service providers have access to a wide range of markets.
• Promotes understanding, strong trade cooperation, peace and mutual interest in many countries.
• The effects of agricultural change in one area can be avoided.
• Expansion of technology, reduces global poverty, different cultures in the world are the same (good and bad).
‘Globalization’ is about bringing about economic, social and political cohesion through the addition of trade and social exchanges, sound financial management, goods, and services. But, they often complain that it helps to create more wealth in developing countries and fails to close the gap between the poorest countries in the world. It is not without its challenges. Globalization is seen by many as a threat to global cultural diversity. It is often criticized for the following reasons.
• Developed countries can suppress the growth of poorer nations by ordering inappropriate speech. It works especially for the benefit of the wealthiest nations. It fails to add to all the happiness.
Depression or economic crisis in this country can lead to global problems such as infectious diseases. If the economy of one country collapses, it should be disrupted along the way, attracting many other countries.
• The risk of infection is freely and unplanned by people traveling and migrating from one place to another.
• Many local or local resources or businesses in developing countries are depleted. I will attack directly on small and medium-sized companies in the region.
• Globalization uses less resources more quickly. Increased manufacturing, industrial development, deforestation have increased the risk of pollution and climate change.
• Globalization has shifted jobs and finances from developed countries to developed countries.
• Promotes reliance on international access to services and services.
• Reduces the importance of the country. Local governments or governments such as the G8, the International Criminal Court, WTO, change national activities and international agreements.
‘Globalization’ is a two-edged sword. Although it brings great growth around the world but it fails to address the problems faced by the poor. Even its advantages have led to many controversies over the same issue. It has helped a few people but injured many others. Interdependence, a complex concept, often leads to violent conflicts. Its effectiveness depends on the role of government in the country and its policies.