Globalization

Description:

Globalization is the growing interconnectiveness reflected in the expanded flows of information, technology, capital, goods, services, and people throughout the world (p.10 NIC report Mapping the global future???. Therefore the globalization of markets is the growing interconnectiveness of markets, like financial markets, labor markets, trade markets etc.

Globalization has become identified with trends such as: greater international movement of commodities, money, information, and people; and the development of technology, organizations, legal systems, and infrastructures to allow this movement.

Enablers:

• Human Capital (i.e. Immigration, Migration, Emigration, Deportation, etc.)
  
• Financial Capital (i.e. Aid, Equity, Debt, Credit & Lending, etc.)
  
• Resource Capital (i.e. Energy, Metals, Minerals, Lumber, etc.)
  
• Power Capital (i.e. Security Forces, Alliances, Armed Forces, etc.)
  
• Increase in technology especially information technology
  
• Increasing participation of China and India in the global markets
  
• Decreasing power of communism
  
• Increasing power and number of global companies.
  

Inhibitors:

• Increasing disparity of poor and rich
• Increasing difference between islamic and non-islamic countries.
• Pandemic disease
• Cultural differences
• Diminishing of SMEs
• Law regulations differences

Paradigms:

Different companies having different or even contradicting rules and regulations which leads to unharmonised understanding. Therefore the need for making laws and regulations on a global basis.

Possible decreasing power of governments and increasing power of companies, which set a totally different political and economic arena. The rules to adhere to in this situation has yet to be created.

Experts:

• Academia
• Political scientists
• technologists

Timing:

• World War 1: The "First Era of Globalization"
• Late 1920s and early 1930s: the crisis of the gold standars. Countries that engaged in this era of globalization, including the European core, some of the European periphery and various European offshoots in the Americas and Oceania, prospered. Inequality between those states fell, as goods, capital and labour flowed remarkably freely between nations.
• World War II: trade negotiation rounds, originally under the auspices of GATT, which led to a series of agreements to remove restrictions on "free trade".

Web Resources:

[1] http://en.wikipedia.org/wiki/Globalization

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