Globalization And its Impacts on human life(Short Analysis)

“Globalization is an effort to wipe out barriers, especially in trade.”

It is a process by which resources, goods; services and industry cross national borders, and obtains an international or global position. It include the integration of national economies, technologies , culture , governance even values across borders which help rebuild local cultural model and public relations. It also creates new chances for many peoples to double their wealth and improve their life standards. It shows how the world has “shrunk” and how people, goods and information can be moved easily around the world.

People in different parts of the world using Made in China Mobiles or driving Made in Japan cars etc this is all about globalization.

Social Impacts

·        Growing inequality and widening Income Gap between the Rich and Poor

·        Increased Awareness of Foreign Culture and Loss of Local Culture

Economic Impacts

·        Improvements in Standards of Living and increased Competitions among Nations

·        Investment and Market and increased exchange of goods and values

·        New regimes of regulation (WTO, NFTA, etc.)

·        Worldwide growth of market oriented societies and employment opportunities

Environmental Impacts

·        Improvements in the use of resources and awareness

·        Negative impact on the environment through global warming which is due to greenhouse gas discharge which is caused by a growth of industrialization in the developing world and by a heavy reliance on fossil fuels.

·        Globalization has assisted in improving the use of resources and saving the environment by promoting growth through development and improving education

Conclusion:

Globalization is an irresistible reality. World has to experience it willingly or unwillingly. It has greatly affected human life whether it’s on social level cultural level or economic level positively as well as negatively.