Effect of Globalization

Topics: Globalization, United States, Economics Pages: 2 (370 words) Published: October 26, 2013
* Economic - realization of a global common market, based on the freedom of exchange of goods and capital. The interconnectedness of these markets however meant that an economic collapse in any one given country could not be contained.

* {googleads right} Political - some use "globalization" to mean the creation of a world government which regulates the relationships among governments and guarantees the rights arising from social and economic globalization. [4] Politically, the United States has enjoyed a position of power among the world powers, in part because of its strong and wealthy economy. With the influence of globalization and with the help of The United States’ own economy, the People's Republic of China has experienced some tremendous growth within the past decade. If China continues to grow at the rate projected by the trends, then it is very likely that in the next twenty years, there will be a major reallocation of power among the world leaders. China will have enough wealth, industry, and technology to rival the United States for the position of leading world power.[5]

* Informational - increase in information flows between geographically remote locations. Arguably this is a technological change with the advent of fiber optic communications, satellites, and increased availability of telephone and Internet.

* Language - the most popular language is English.[6]

o About 35% of the world's mail, telexes, and cables are in English.

o Approximately 40% of the world's radio programs are in English.

o About 50% of all Internet traffic uses English.[7]

* Competition - Survival in the new global business market calls for improved productivity and increased competition. Due to the market becoming worldwide, companies in various industries have to upgrade their products and use technology skillfully in order to face increased competition.[8]

* Ecological - the advent of global environmental challenges that might be solved with...
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