TAGORE SR SEC SHOOL 18, MAYAPURI ROAD

MAYAPURI

Submitted by
Anid Khan

GLOBALISATION:-
NATURE AND
SCOPE
 Index
1. Acknowledgement
2. Learning Objective
3. Introduction
4. Globalisation and its nature
5. A brief on Globalisation
6. Advantages of Globalisation

7. Types of Globalisation
8. Impact Of Globalisation
9. Importance of Globalisation
10. Conclusion
11. Bibliography
 Acknowledgement
I feel myself highly elated as it gives me tremendous pleasure
to come out with this dynamic topic, “Globalisation – nature
and scope”. Words fail to express the deep sense of glee to
Mrs. Neena, Tagore senior secondary school. I would like to
thank my teacher, friends and family for helping me in
competition of this project from the bottom of my heart. I
would also like to extend my heartfelt thanks to my mother
to help and support in providing any material required.

Thanking You
Anid khan
Roll No. 06
Learning Objective
 Understand the history, purpose, and impact of
the World Trade Organization.
 Explore the pros and cons of globalization,
especially in relation to its impact on developing
countries.
 Investigate the effects that entry into the WTO is
having in China and in other developing countries.
 Understand the following terms and concepts:
World Trade Organization (WTO), free trade,
liberalized trade, exploitation, developing
countries, third world countries, globalization/ anti-
globalization, debt relief, global market
 Develop research, presentation, writing and
conflict resolution skills that can be applied to
numerous other content areas and case studies.
 INTRODUCTION
• A state of the world and a process
• Networks, highly complex, interdependent elements,
transfers at extraordinary speed, ignore borders
• 4 Modes:
Economic | Social-cultural | Environmental | Military
 Globalisation:- Its
nature
The Main strands for the nature of globlisation are:
1. Increasing and deepening interconnectedness of societies in
different in different parts in the world.
2. Almost unimpeded flows of financial capital, news and cultural
images across the world.
3. Rising activity and power of Multinational Compainies.
A brief on Globalisation

From ancient times, humans have looked for places to settle, produce and
exchange goods which have continuously improved with technology and
transportation. In the 19th century, global interaction between countries
started developing in Europe.

The first wave of globalisation was the building of steamships, railroads

and telegraphs. Another aspect of globalisation was the increased
economic cooperation between the countries. However, after World War I,
The Great Depression and World II, the new monetary policy of the
nations was protectionism. 

In the 1940s, the United States started the efforts of reviving international
trade and investment. This happened with the help of negotiation of
ground rules by nations, which led to the second wave of globalisation
which is still ongoing. 

Globalisation is known by other names too. Some of the globalisation

synonyms are proliferation, development, and growth. The effects of
globalisation have been immense on the world economy. 

Globalisation as a process has made countries significantly succeed after

its initiation and implementation. There was the overall growth of the
countries in aspects like foreign investment in all the sectors of the
economy. It was a contribution that helped in the development of the
economy of a nation. 

The policy of globalisation was introduced in India in 1991 along with

liberation and privatisation. Its impact on the Indian economy has been
massive. Globalisation and the Indian economy have become interrelated
as they are directly related. It has helped in the creation of jobs, attract
foreign investment and generate income in the economy. Along with the
economic impact of globalisation, it has impacted the culture of the
country too. 

India is one of the greatest examples of globalisation, where even 25 years

ago, one couldn't dream of buying such a thing as Levi's jeans or a colour
television in the country itself. All our parents have told us stories about
how they would ask for these goods when someone they knew, or
someone that someone else knew, was going abroad. With globalisation,
all we need to do is step out of our houses and enter the market, and
everything we could ever want is right there, and all we need is the money
to buy it. 

Advantages of Globalisation

Globalisation is a process that has several advantages. It is a process that

contributes significantly to the development and growth of a nation. Here
are some of the benefits of globalisation: 

 Employment: The establishment of special economic zones has

increased the number of jobs available. There are export processing
units established all over the world, which have helped employ
thousands of people. The multinational companies of the west have
been providing employment opportunities to the people by
outsourcing employees.

 Compensation: There has been an increase in the level and amount

of payment compared to the domestic companies. The main reason
for this is that domestic or home companies lack skill and
knowledge compared to multinational companies. An increase in
compensation is leading to changes in the management structure of
the companies too. 

 Standard of living: With the emergence of globalisation, there has

been a change in people's standard of living. The difference in the
purchasing behaviour of people has increased the standards of
 living of people. Therefore, the evolution and development of
business have raised the standards of living of people. 

 Increased investment: Globalisation has led to an increase in

cross-border investments. This has led to companies investing and
opening branches in different countries across the globe. The
increase in investment across the borders has enhanced the welfare
of both countries. 

 Development of infrastructure: Technological advancement has

helped improve the infrastructure of countries. With the help of
technology, the countries are achieving overall development. 

 Foreign exchange reserves: With the help of globalisation, there is

a constant flow of capital in the international financial flows. This
capital flow helps countries build foreign exchange reserves. 
Types of Globalisations 

Globalisation is mainly divided into three different kinds. The three types
of globalisations that influence one and another in their work. They work
in interdependence with each other.

 The Three Types of Globalisation are: 

 Economic Globalisation: In this type of globalisation, countries

aim to integrate international financial markets and coordinate
monetary exchange. Multinational corporations that operate in
more than two countries play an essential role in a nation's
economic globalisation. Economic globalisation is the North
American Free Trade Agreement or NAFTA, an economic agreement
between the United States, Canada and Mexico. 

 Political globalisation: This is globalisation that refers to a

nation's policies that aim at bringing it closer to other nations
politically and economically. Political globalisation helps build a
bond between countries with each other. Some examples of political
globalisation are North Atlantic Trade Organisation (NATO) and
United Nations (UN). 

 Cultural globalisation: In this type of globalisation, the focus is

on the technological and societal factors which bring people
together. Cultural globalisation includes ease of communication,
social media and access to faster and better transportation. 

Impact of Globalisation

There has been a tremendous impact of globalisation on everyone -

people, communities and institutions. Everyone locally and globally has
felt the touch of globalisation not only in their lives but in society too.
There are myriad ways in which one may feel the impact of globalisation
on one's life. 

Individuals get impacted by globalisation regularly, in the clothes they

wear, the music they listen to, the gadgets they use, the cars they drive,
and so much more. Several international influences affect the ordinary
lives of people in such little ways that it is hard to render anymore. It
moves what they like to purchase, eat and it also affects the standard of
living overall. Additionally, it affects their decisions like where to travel and
how to travel, whether you're talking about intercity, interstate or even
international travel. Globalisation has made everything in all of our lives so
much easier than it was even a few years ago.

Another group where there's an impact of globalisation are communities.

There's a significant impact of globalisation on the communities locally,
regionally and internationally. It includes the effects of globalisation on
organisations, businesses and economies. The variety of products
available today is countless and even unbelievable to an extent. This
creates a vast marketplace for both sellers and consumers, and this is how
globalisation plays a vital role in expanding the economy.

Globalisation affects people who are a part of the community in every

aspect, like where they work, who they work for and moving around the
world. It changes the way local cultures develop all around the world.

What we must remember is that globalisation is not only concrete,

meaning that it does not only affect the circulation of goods and services
floating in the economy and being made available to consumers. There is
such a thing as globalisation of the intellect, where progressive values
often deemed 'Western' values are also exchanged. This, in fact, works
both ways, where we see traditional and backward values be replaced
with more progressive ones as the world progresses further. On the other
hand, several Western cultures are also becoming more and more
affiliated with those of the East, such as in matters of sustainability and
sustainable practises of olden Eastern times.
Importance of Globalisation 

Globalisation has been one of the long-standing trends which are

constantly in the process of changing and evolving. Like everything else,
there are positives as well as negatives of globalisation. Both these factors
can't stop the progress of globalisation which is taking the world by
storm. 

It's changing the way nations, businesses and people interact with each
other. Globalisation brings people across the countries together to trade,
share their cultures and depend on each other for sustenance. 

The reason why globalisation and discussions around it have taken centre
stage in recent years, especially since 1991 in India, is because the world is
becoming a lot more dependent on global cooperation as a whole. There
are several impending crises that are taking place across the world,
ranging from political to environmental to diplomatic, and fighting this
requires a kind of global cooperation that only comes from global
interconnectedness, i.e. globalisation.

We must not only look at globalisation as a result of our wants and needs
spreading globally, especially because of the fear of missing out, but also
in the light that worldly togetherness is becoming the norm. It is regular to
see Indians spread across the world, looking for better opportunities and
better lives, and this is the pull factor of globalisation. It is important
because it keeps hopes alive by showing us what can be rather than
having us stick only to what is.

Conclusion

The policy of globalisation is bringing the world closer to each other.

Globalisation has impacted every aspect of a person’s life, right from the
phones they use to the clothes they buy. While there are many advantages
of globalisation, there are a few drawbacks too. One of the drawbacks is
that the process of globalisation has impacted the environment negatively
and didn’t stabilise the global economy.
 Biblography
1. Globalisation - Advantages, Types, Impacts, Importance and FAQs ([Link])
2. [Link]
3. [Link]
4. [Link]