Introduction: Globalization has become a buzzword in the new era of international politics and relations.In fact,globalization is a concept inherent in the new world after the end of the world war two by the big and powerful nations.Globalization is related to free market economy which means free movement of goods,services,people and information across the national borders.
What Is Globalization: Globalization is basically an economies concept.It has evolved from late capitalism.Globalization aims at “globalizing” capital and goods.That is, globalization is a process of expanding trade and commerce increasing the flow of capital and commodities all over the world by creating a borderless market.
Instruments Of Globalization: Globalization is now a strong foundation.The development of hi-tech communication system and rapid transportation facilities has turned the world into a village.
The countries of the world are now like families in a village.The barrier of land and space has been removed.As a results,we can now learn in an instant what is happening in the farthest corner of the world.We can also travel to any part of the world in the shortest possible time.The use of computer,mobile and satellite networks,internet and other information technology has brought the whole world in our drawing room or office room.
Prospects Of Globalization: Globalization has opened up a new horizon of tremendous possibilities for the nation of the world.Countries of the world are very closer to each other.They can share their views and ideas,knowledge,information and technology.they even can stand by the distressed nations instantly.The process of globalization has made the whole world a free and huge market of goods and services.The inhabitants of the whole world are the consumers of the products.A product produced in one country is quickly marketted all over the world and thus available anywhere in the globe.So, globalization has increased trade and commerce,flow of capital money,investment,movement of people and workers all over the world.
Challenges of Globalization: Nothing is an unmixed blessing.Globalization has a far reaching and profound impact on many aspects of life.Globalization has a challenged and risked traditional nation.It has been claimed that globalization widening the gap between rich and poor,between develop and developing or underdeveloped nations.Because,agro-based,technologically backward and poor countries are no match for industrially developed,technologically advanced,powerful nations.Globalization aims as widening market for capital and goods but at the same time it ensures maximum profit for the capitalists and investors.In this case,the poor and underdeveloped nations are lagging behind in the competition of market.
Threats Of Globalization: capital does not flow alone.With capital and goods,ideas and value,culture and power all move.Thus,globalization is now being seen as a cultural and ideological assault on the developing nations.Critics of globalization assert that globalization has ended racial,cultural and linguistic varieties and distinction of the nations of the world imposing the ides,values,social customs of the western world over other nations.English has become global language threatening the existence of minor languages of the world.In fact,globalization has tremendous impact,sometimes slow and unnoticed but steady and powerful,over the lifestyle,food habit,clothes,education,sports and culture and many other aspects of the global people.
Conclusion: Globalization has both prospects and pitfalls.If the nations of the world can create an atmosphere of cooperation,peace and solidarity,every nation can be benefited from the process of globalization.They can fight together global problems like poverty,illiteracy,aids,war and conflicts,terrorism and also work together in solving the problems of over-populations,hunger and environmental pollution or global warming.The globe then would be better place of everybody.