History: Issue Paper
Globalization carries very significant implication because of its pivotal functions in the process of economic development across the globe. International politics will never direct future economic development although peace has helped in a great deal to create basic and essential external conditions for globalization. Nevertheless, the advancement of globalization requires a rather peaceful environment which will prevent the occurrence of uncertain factors that may bring damage to the peace. The concept of globalization has been enriched and deepened after years of sustenance since its beginning.
The major idea behind globalization across the globe is the ways through which the economies and societies of the world are increasingly becoming close and greatly interlinked. This progress in globalization is driven by a number of factors, ranging from economic policies and political developments to advancement in technology and even the simple movement of individuals around the globe.
The key driving force of globalization is the existence of the free markets. Individuals as well as companies are now transacting business with others everywhere across the world regardless of their geographical location. The global market has greatly opened up to an extent that one can transact business with virtually everyone across the world. For instance, the emergence of trading blocs such as the European Union has eased business since there are no exports or import tariffs.
Another key driving force of globalization is advances in technology which have opened up the globe, both socially and economically. Through technology, people can get in touch with the vast world at any time from wherever they are based. For instance, businessmen can get the latest stock indexes whenever they are listed. People can also access the latest news and updates since modern technology has simplified everything.
And lastly, the internet is one of the major social drivers of globalization. The internet has made the globe seem very small and easily accessible. For instance, one can communicate with others from the other side of the globe instantaneously at just a click of a button. Facebook and twitter are some of the social media platforms that have taken the world into another level. They can allow people to dispense news and messages to many people with ease (Guile and Harvey, 2007).
Globalization dates back to the 16th century. Since its emergence at that time, there have been several periods or formally ‘waves’ of globalization. The first ‘wave’ stretched from the 16th to the 18th century. The second ‘wave’ lasted a century afterwards. Each wave comes along with its major driving forces, social centers as well as technologies. In the initial wave, the driving forces included “God”, “Gold” and lastly “Glory”. The main centers were Portugal, and Spain followed by England and Netherlands (Bordo et al. 2007, 32).
In the second wave, “Civilization”, “Profit” and “Glory” were the main driving forces. The centers included England, followed by France as well as other European countries. In the last wave, which took place in the late 20th century, “Free market and advanced technology”, “Profit” from global trade and “Glory” of individuals such as CEOs as well as some nations were the main driving forces. The USA together with Japan and Western Europe were the key players in this ‘wave’.
In conclusion, understanding the existing history of globalization has many advantages accrued to it. For once, it enables one get a clear understanding where and how globalization started. By one arming himself with such information, he can predict trends that globalization will follow in the future. And this will enable him prepare adequately for the unforeseen changes so that he will be in a position to adapt to them more easily.
Bibliography
Held, David. Global Transformations: Politics, Economics and Culture. California: Stanford University Press, 1999.
Guile R. Bruce and Harvey Brooks. Technology and Global Industry: Companies and Nations in the World Economy. Washington D.C.: National Academy Press, 1987
Bordo D. Michael, Alan M. Taylor and Jeffrey G. Williamson. Globalization in Historical Perspective. London: University of Chicago Press, 2007.
Bordo, Michael D., Alan M. Taylor, and Jeffrey G. Williamson. 2003. Globalization in historical perspective. Chicago: University of Chicago Press. Bordo, Michael D., Alan M. Taylor, and Jeffrey G. Williamson. 2003. Globalization in historical perspective. Chicago: University of Chicago Press. Bottom of Form
