How Globalization is Coming About?
Globalization is the merging of the nation's systems and governmental processes around the globe. Social, economic, and political trends are bringing about this unification. Even religion is following the global path through organizations such as the World-Wide Council of Churches.
With today's technology, no one nation remains isolated. Television satellites, fax machines, and data banks bring many countries together in the transference of information. Technology has made the world a smaller, more unified place. While Globalization is a process, technological developments act as the catalyst that speeds it along. Payment systems of major countries closely interlink. Banks around the globe communicate electronically. Today's economies are interdependent and interconnected. Flows of trade and money tie countries more closely together than at any time in history. A recession in one country effects growth in others.
In addition to economic and financial interdependence, the world is breaking up into regional groupings of nations that act as trade blocs. As twenty to thirty nations form one of these blocs, they become a section of the globe. As the world coalesces into sections, unification becomes a simpler process. Five or six parts of a pie join easily, compared to over 160 pieces of a puzzle. The Great Recession showed the impact of globalization the day the American financial markets plummeted. The European markets followed and caused a ripple effect hitting every major market around the globe. Within days major financial papers reported that the world economy had literally come to a stop.
National problems that have a worldwide impact such as the recession, nuclear arms buildup, the environment, and drugs, have prompted nations to intensify their efforts to work together. Banks even unite internationally to fight computer crime and money laundering.
The Earth Summit of 1992 brought together nations from around the globe to coordinate global environmental policy. This Summit involved nearly four times as many countries as founded the UN. According to the book, Beyond Interdependence: The Meshing of the World's Economy and the Earth's Ecology the authors quoted Maurice Strong the Secretary General for the United Nations Conference on Environment and Development, felt that environmental problems jeopardized all nations. Problems such as global warming, the ozone hole, acid rain, soil degradation, and deforestation. He stated that "the world has now moved beyond economic interdependence to ecological interdependence-and even beyond that to an intermeshing of the two. The world's economic and earth's ecology are now interlocked-'unto death do them part,' to quote one of Canada's industrial leaders. This is the new reality of the century, with profound implications for the shape of our institutions of governance, national and international." Thus globalization is a merging that is a byproduct of today's world.