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, labour markets, trade markets etc.

The globalization is a trend which is not reversible, althought that the speed of this globalization is not decided yet.

Enablers:

• 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

Paradigms:

Laws and regulations should be made 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.