Globalization Trends

Globalization Trends

Globalization refers to procedures by which institutions, organizations or businesses develop and establish international persuasion or begin to function on a global level. Therefore, globalization coils the ever-increasing interactions or interdependence of the globe’s cultures, populations, and economies, as a result of cross-border trade, investments, technology, and information. Globalization trends imply various significant patterns which are taking precedence on the international stage. Consequently, it is essential to venture into different globalization trends to understand their implications and effects to multiple sectors. The focal point will be on the following trends increasing integration and interdependence, and science and technology. The premise of enhanced integration and interdependence entails aspects such as economic welfare and exchange of services and goods across borders. The element of science and technology coils factors such as genetically modified foods, networking, internet, and other noble innovations. Therefore, the essence is to discuss the underlying trends in their entirety to have in-depth information regarding the level to which they influence and impact the society. Integration and interdependence is a global trend that has and is gradually taking precedence in contemporary society. And it is projected that it will be even more profound in the future. Therefore, it is essential to examine the implications and effects that come along with the underlying trend. The trend of integration and interdependence creates a platform that enhances or intensifies investments. Notably, various investors and business entities have experienced the power of the underlying pattern to a considerable degree (Paehlke 2011). This is because the underlying premise exposes individuals, organizations, and businesses to multiple investment opportunities. For instance, the underlying trends create an avenue that allows and propagates foreign investments. Therefore, entities, corporations and individual investors are exposed to a wide range of investment occasions (Paehlke 2011). The premise stated above leads to enhanced returns on investments. Consequently, increased integration and inter-reliant have considerably improved and revolutionized the investment sector. Employment is an aspect which influences society drastically; hence, it is crucial to deliberate on how integration and interdependence impact the employment sector. The trend of interconnectedness and mutual association on the global level is perceived as an aspect that serves to mitigate the element of unemployment (Surugiu and Surugiu 2015). This is because the underlying premise creates avenues which facilitate enhanced job creation through intensified investments and expansion of various industries. The driving force for the development of industries is the premise of mutual relations among nations alleviating barriers hindering local industries from extending their operations to overseas. The effect of extending activities of an organization to other countries is the creation of employment. Furthermore, markets for products and services of various sectors are enhanced; thus, leading to widening of the scope of each industry, a factor which attracts more employment opportunities (Surugiu and Surugiu 2015). Therefore, intensification of the premise of interdependence and integration will noticeably improve the employment sector. The aspect of increased interdependence and integration leads to various modification or transformations in the economic structures. For instance, the underlying elements foster the functionality of the global economy. Notably, several policies, standards, and principles govern the several economic activities being undertaken on the global stage (Shangquan 2000). The trend of mutual associations and integration leads to compelling nations to redesign their economic structure to align with international standards. This is an indication of how the underlying trend is fostering the global economy. The negative implication that may come into play as a result of the pattern in question is that an economic crisis in one of the major economies will lead to far-reaching effects across the world (Shangquan 2000). Therefore, the utilization of economic opportunities that come into play as a result of interconnectedness and integration should be undertaken cautiously to alleviate any occasion that may give rise to an economic crisis. The premise of integration and interdependent has multiple influences and implications for developing nations. For instance, developing countries are exposed to foreign capital, which gives them the capacity to foster the development of various vital sectors (Shangquan 2000). The negative effect that comes along with the premise indicated above is an overreliance on external resources. This may compromise the sovereignty of a state as the lending nation may take advantage of the situation and administer various restrictions and sanctions. Also, developing nations have the opportunity to acquire management experience. This is of uttermost importance as it will lead to profound and efficient management. The implication of the aspect stated above is the maximum utilization of resources. Furthermore, the tendency of monopolistic behaviors are mitigated; thus, leading to enhanced market competition (Shangquan 2000). The effect of the underlying premise is the improved quality of products. Consequently, increased integration and interdependence propagate several factors and aspects which enhance and foster development in developing countries. Science and technology is another globalization trend that has far and wide implications and effects in society. Therefore, it is vital to venture into various segments of science and technology and depict their influence and impact. Food security is an aspect that is of considerable interest to society. The underlying trend incorporates several approaches that are geared toward enhancing food security. For example, the premise of genetically modified foods is an aspect that serves to address the factor of food insecurity (Sener and Saridogan 2011). This is because the underlying premise enhances faster growth of foodstuffs. The effect is that the production of foodstuffs is attained within short periods; thus, food security is assured. The other factor that is critical in the process of addressing food security is preservation. This is because the aspect in question allows storage of food that will be used in the future. Science and technology have addressed the issue of food preservation by coming up with various schemes that are effective in preserving foodstuffs for extended periods (Sener and Saridogan 2011). The trend of science and technology fosters innovation, connectedness, and creativity across the world. Notably, the premise of the transfer of technology across the globe is improving the aspect of innovation in various nations. The implication of the underlying assumption is the improvement of multiple systems and structure within numerous sectors. For instance, the spread of technology gives underdeveloped nations the capacity to transition from the traditional forms of production to modern schemes of production which are more viable in contemporary society (Haile, Srour and Vivarelli 2013). Therefore, the premise of science and technology is serving the purpose of fostering improvement and development both in developed and developing countries. Industrialization is significantly impacting the economy; thus, nations are embracing factors which promote the underlying aspect. Science and technology is a segment which dramatically strengthens the premise of industrialization by improving the manufacturing sector (Haile, Srour and Vivarelli 2013). Consequently, the trend of science and technology is taking the production and manufacturing sectors to the next level. Technology is an aspect that is significantly impacting our lives in multiple ways. The general perception is that technology is making life simpler. Therefore, it is vital to venture into various aspects which point out the element of technology simplifying life. For instance, it is perceived that the premise of technology has eased access to education (Haile, Srour and Vivarelli 2013). The reasoning behind the underlying aspect is that technology facilitates faster and easy access to learning materials. For example, at the click of a button, an individual can be exposed to learning materials thanks to the internet. Furthermore, in present-day digitalization is the order of the day; thus, accessing the internet is not an issue. The premise of technology and science incorporates schemes which simplify complicated tasks that give humans a headache (Sener and Saridogan 2011). Furthermore, the innovation that comes as a result of the trend of science and technology lessen the workload. The negative implication that may arise from the tendency of science and technology is inadequacies in critical thinking as individuals rely on the internet to solve most of their problems. The aspect of science and technology is improving the aspect of productivity. This is because the trend of science and technology propagates innovations which are meant to enhance productivity. For instance, the underlying trend incorporates systems and structures which foster efficiency and effectiveness in the production sector (Sener and Saridogan 2011). Also, in the agriculture sector productivity is enhanced, as science and technology facilitate the creation of fertilizers and other drivers that improve the outcome or increase yields. Consequently, it is of uttermost importance to look into various sections which depict improvement in the production sector due to the premise of science and technology. The underlying aspect leads to the creation or generation of new products. Also, the proposition in question leads to the integration of new methods of production, which are more profound and proficient (Sener and Saridogan 2011). Furthermore, the underlying premise leads to the development and establishment of excellent sources which supply inputs. Finally, the creation of avenues which facilitates opening and creation of new market schemes is enhanced.

References

Haile, G., Srour, I., & Vivarelli, M. (2013). The Impact of Globalization and Technology Transfer on Manufacturing Employment and Skills in Ethiopia. Retrieved from http://ftp.iza.org/dp7820.pdf

Paehlke, R. (2011). Globalization, Interdependence and Sustainability. Retrieved from https://www.eolss.net/Sample-Chapters/C13/E1-45-03-16.pdf

Sener, S., & Saridogan, E. (2011). The Effects of Science-Technology-Innovation on Competitiveness and Economic Growth. Retrieved from https://www.sciencedirectassets.com/277811/1-s2.0-S1877042811X00174/1-s2.0- S1877042811016557/main.pdf

Shangquan, G. (2000). Economic Globalization: Trends, Risks and Risk Prevention. Retrieved from https://www.un.org/en/development/desa/policy/cdp/cdp_background_papers/bp2000_1. pdf

Surugiu, R. M., & Surugiu, C. (2015). International Trade, Globalization and Economic Interdependence between European Countries: Implications for Business and Marketing Framework. Retrieved from https://core.ac.uk/download/pdf/82694989.pdf – Barbra Dozier’s Blog