Globalization in Saudi Arabia

Globalization is the process by which different societies and cultures integrate through a worldwide network of political ideas through transportation, communication, and trade. Generally, globalization has affected many nations in various ways; economically, politically, and socially. It is a term that refers to the fast integration and interdependence of various nations, which shapes the world affairs on a global level. Simply put; globalization is the world coming together. In this essay I will discuss multiple perspectives on globalization through the analysis of these three sources.

Globalization is an irreversible tendency which implement an integration of economy, politics, culture and technology regardless of the restrictions of time zones (distance) and national-border (space). International political-economic structure has been changed through globalization, as more countries with higher level of comprehensive national strength occupied leading positions. Providing opportunities for individual countries to pursue its own national interests in a broader market is of the essence of globalization.

Globalization perpetuates economic interdependence between countries. Through the increasing volume of goods and services transferred across borders, globalization has created international capital flow and boosted the rapid diffusion of technology. According to Dr. Ismail Shariff, “globalization is the worldwide process of homogenizing prices, products, wages, rates of interest and profit.” Three forces control the manner by which globalization furthers developments. These factors include the role of human migration, international trade, and integration of financial markets. By discussing the pros and cons of globalization, a correlation between these factors reveal the intertwined web known as world trade.

Globalization is the increasing interdependence and connectedness of the world, its businesses and it markets, as well as flow of goods, ideas, technology, people etc. This phenomenon has increased vastly over the years due to technological advances, telecommunications and internet. As the world becomes a global economy, countries have the opportunity to advance more but with the catch that there is also increased competition. Thus as it becomes more common and powerful a feature, it also has some resistance as well. (InvestorWords, n.d.)

Economic globalization has become the most important feature and a general trend of present world economic development. Globalization is a phenomenon and also a process of development of mankind and human society (Hamilton, 2008). It is the essential feature of the modern age. Globalization is the cross-border flows of capital and goods, including capital, labour, technology and natural resources (Bożyk, Misala & Puławski, 2002). Economic globalization is a historical process, and the germination of it could date back to the 16th century. After the industrial revolution, capitalist commodity economy, modern industry and transportation have been developing rapidly. The world market was fast expanded and the foreign trade was

Many individuals correlate the term globalization with the recent expansion of many United States based companies to overseas locations. Globalization has actually been occurring for many hundreds of years. Looking back to the first explorers, they can be defined as the ones who started the movement. The world has been witnessing a globalization process at least for the last four centuries (Ates, 2008). Globalization still remains to be a phenomenon which nobody can agree on a clear definition. It has been responded to as a movement from one country to the next, an expansion into a foreign region to reap the benefits of untapped resources, or merely a location which offers a broader range of individuals to fill the needs of a business. No matter how it is defined or labeled, globalization has been occurring since modes of transportation have been available. When Christopher Columbus embarked on his journey to the new world, he was in search of a new region which had been untapped by other explorers. Many early explorers were merely in search of

Globalization isn’t a widely discussed topic, it is therefore not all that easy to explain such a complicated term in simple terms. Advances in technology such as mobile phones, aero planes and the internet have made the growth of transport and communication networks possible. This means that people and countries can exchange information and goods more quickly and in a less complicated way this process is called Globalization.Globalization comes from

Based on this definition the author explained about the process of globalization, and the globalization was impact of transnational and transcultural integration of human and non-human activities, the globalization was consequences of those processes and also influence of platform of respective country. Transnational and transcultural activities among state encompasses the many terms of life in international system, for example economy, politics, health, education, environment, social, culture and arts, Alan Deardorff also argues about the definition of globalization,

If businesses don’t export jobs overseas, they need to find new ways to remain competitive in the global markets. This can come in the form of pay cuts for employees, which also harms the economy since there is less disposable income (businessweek.com). Again Mourdoukoutas (2011) offers his support by stating globalization can lead communities to escape the unemployment trap by devaluating currency and raising trade barriers. China currently employs the currency devaluating tactic to maintain their edge in American markets. This makes American products more expensive to obtain in China, as opposed to their inferior, cheaper products. This causes American based businesses to seek new creative ways to lower production costs to remain competitive in Chinese markets.

There are many ways to look at and understand modern globalization. In general terms, globalization means that the world, as a whole, is leading to a more utopian society, meaning that the globe is become very interconnected and similarities are growing between different regions and cultures of the world. Globalization is a phenomenon that has been evolving since before 10,000 B.C. This constant evolution can cause many problems, but it can also solve many issues positively as well. Development of any country, however, seems to be a key issue when discussing globalization. Globalization and development present two different factors in the world today. Many countries are lacking in their own development while the world around them is becoming more developed and globalized. Globalization hinders development because with globalization, less developed countries depend on more developed countries to help them to sustainability and self-reliance.

From the beginning of the 1990s, the global financial system has entered a phase of unprecedented restructuring, marked by the increasing integration of financial markets and increased economic interdependence. This process, known under the name of financial globalization allows companies better access to financing, offers investors a greater possibility of investment and thus increases the liquidity of the global economy.

I think that if we want to talk about globalization first of all we must define what the globalization is. Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

The labour market is one of the principle channels through which globalization can influence developing countries. Rapid increases in foreign investments due to globalization have increased employment opportunities in developing countries. The setting up of factories and production plants abroad has helped many workers get employed and move out of poverty. However it also created issues regarding labour employment, income distribution and labour standards. Globalization has a negative impact on workers and causes exploitation due to profit maximization and competition.

The term entered common vocabulary in the 1980's and it grew so popular that the economic, political and cultural background of today is now described as "The Era of Globalization." However, this term needs to be thoroughly clarified as it means different things to different people. To some, it is a natural phenomenon of wide-spreading economic, social, and political activities of different countries beyond their physical borders. In these people's view, the increase in free trade and international exchange of information, labor and technology represents a beneficial process of economic development. Yet, there are others who believe globalization can damage the level of employment, the social progress and the cultural identity of a country. As a result of these divergent views on the matter, the term "globalization" and the phenomenon it names are the subject of a very strong debate.

Although connections might not seem apparent, nations around the world have become closer to one another now more than ever before. Countries are creating stronger internal ties; goods and services are being promoted and exchanged between nations, which creates relationships. Globalization is a process of intercommunication and integration within people, companies, and different nation’s governments. Globalization is processed by international trade and investments aided by information technology. This process has many effects on a nation. It affects the environment, culture, political systems, economics, and development. In addition to human’s physical wellbeing in societies around the world. Citizens and companies do not desire to do business with other nations just because, but instead it is an occurrence because there is a better benefit for that citizen or company. Globalization will progress until the government applies rules and regulations to control it, or stop it. Globalization and developing countries have a parallel correlation. As a country develops globalization occurs. Globalization can bring on both great opportunities and disadvantages. Globalization can create aggressive competition.