What is Globalization?

Economy

International Trade has given countries access to goods and services they are unable to produce themselves or can obtain more cheaply from other places

More job oppportunities on global scale

Unemployment on industrialized countries because companies move to places where they can get cheaper workers.

Increase child labor and slavery

Growing gaps between the rich and poor

Technology

Development of Internet and email unable people to have access and distribute fast the mounts of information.

Cost of communication have reduced drastically leading to enhanced communication.

Advancement in medicine

Information technology has led to the emergence of the global village.

The world wide web has reduced the barriers of time and place in business dealings.

Buyers and sellers can now make transactions at any time and any part of the globe.

Culture

Allows people to learn about other cultures and develop a wider cultural understanding

Transmogrification of traditional religions and belief system

Brings changes in language and customs.

Propel loss of individualism and group identity.

Increasing hegemonic control in the name of free trade and freedom of communication, at all levels.

Environment

Fuels used in transportation of goods increases the level of pollution.

Aircraft transportation emit gases that causes depletion of protective ozone layer (Greenhouse effect-Climate change)

Plastics used for preserving and packaging a part of environmental toxic pollutant.

Industrialization chemical and waste causes death of underwater organisms.

Forest have been cleared to pave way for construction of firms and industries