As
a terminology Globalization refers to the Shift Toward a More Integrated and
Interdependent World Economy,
Globalization
of markets: mean markets without any barriers worldwide that help people to exchange goods, products and knowledge easily .
Globalization
can be defined as the process of international incorporation (Murray, 2006).
For instance, the Silk Road, which connects Asia, Europe and Africa, is an
excellent example of the transformative power of global exchange (Brook, 2008).
Language, arts, religion and philosophy among other aspects of culture extended
and mixed as states swapped ideas and products. Furthermore, the global
migration of individuals, goods and thoughts extended considerably in the 15th
and 16th centuries. This article will discuss how the United States has
contributed to the emergence of globalization.
The emergence of globalization:
After
centuries of technological progress and advances in international cooperation,
the world is more connected than ever that make all barriers falling off that help raising
of globalization and build its current shape and its effects in all sides worldwide.
In 1945, there was a conference that was held by the
three allied war leaders. The conference that was known as the Yalta Conference
enabled the leaders to agree in the foundation of the United Nations after the
2nd World War. This union is headquartered in New York. The main aim of the
United Nations was to focus on international law, disaster relief, dispute
resolution, recognition of new states and human rights aspects. During the cold
war era, the Soviet Union and the United States divided the world into a
bipolar system (Brubaker, 1992).
The United States practiced a quasi-globalization with
the states that it was able to influence. This vastly promoted cultural
exchanges and trade among other factors. These factors essentially enabled
these states to remain the sphere of the United States (Brubaker, 1992). The
United States also promoted free trade among its allies during the cold war
era. This continued even after the collapsing of the Soviet Union in 1991. In
this case, free trade referred to lack of trade barriers between nations. Trade
barriers were recognized as tariffs that were imposed to traders. After the
16th amendment was endorsed, these tariffs became less necessary in the country
(Bhagwati, 2004).
In the 1930s, the United States made an attempt to
protect the manufacturers who were trying to survive from the Great Depression.
Therefore, the Congress approved the shocking Smoot-Hawley Tariff. In 1934, the
Congress approved the Reciprocal Trade Agreements Act. This act was prepared to
slacken trade agreements and encourage other countries also to do the same.
According to current statistics, the United States has incorporated 17 nations
in the free trade agreements. Later on, they had a conference that involved the
World War II allies in 1944. This conference formed the General Agreement on
Trade and Tariffs. Also, this agreement was aimed at enhancing globalization
(Brubaker, 1992).
This agreement also led to several multilateral trade
meetings. By the end of 1993, 117 nations had accepted the proposal to create
the World Trade Organization. This is one of the most successful agreements
that enhanced globalization globally. Furthermore, they also focused on
communication aspects (Brubaker, 1992). In relation to communication, the United
States established a radio network during the cold war era which was known as
Voice of America (VOA). Fortunately, this radio network is functional till
today. The United States has also tried to sponsor other cultural exchange
programs.
Effects
of globalization on international relationships and trade :
Globalization has resulted in greater
interconnectedness among markets around the world and increased communication
and awareness of business opportunities in the far corners of the globe. More
investors can access new investment opportunities and study new markets at a
greater distance than before. Potential risks and profit opportunities are
within easier reach thanks to improved communications technology.
Products and services previously available within one
country are made available to new markets outside the country due to
globalization. In addition, countries with positive relations between them are
able to increasingly unify their economies through increased investment and trade.
Globalization has had the effect of increased
competition. Companies are broadening their target area, expanding from local
areas and home countries to the rest of the world. Suddenly, some companies are
fighting strong competition from outside their home country.
the Effects of Globalization on points
Ø enhancement
in the information flow between geographically remote locations.
Ø the
global common market has a freedom of exchange of goods and capital.
Ø there is
a broad access to a range of goods for consumers and companies
Ø worldwide
production markets emerge
Ø free
circulation of people of different nations leads to social benefits
Ø global
environmental problems like cross-boundary pollution, over fishing on oceans,
climate changes are solved by discussions.
Ø more trans-border
data flow using communication satellites, the Internet, wireless telephones,
etc.
Ø international
criminal courts and international justice movements are launched.
Ø the
standards applied globally like patents, copyright laws and world trade agreements
increase.
Ø corporate,
national and sub-national borrowers have a better access to external finance.
Ø worldwide
financial markets emerge
Ø multiculturalism
spreads as there is individual access to cultural diversity. This diversity
decreases due to hybridization or assimilation
Ø international
travel and tourism increases
Ø worldwide
sporting events like the Olympic Games and the FIFA World Cup are held
Ø enhancement
in worldwide fads and pop culture
Ø local
consumer products are exported to other countries
Ø immigration
between countries increases
Ø cross-cultural
contacts grow and cultural diffusion takes place
Ø there is
an increase in the desire to use foreign ideas and products, adopt new
practices and technologies and be a part of world culture
Ø free
trade zones are formed having less or no tariffs
Ø due to
development of containerization for ocean shipping, the transportation costs
are reduced.
Ø subsidies
for local businesses decrease
Ø capital
controls reduce or vanquish
References:
o
Lectures.
o
Google search.
o
https://medium.com/ article on it .
o
www.grademiners.com articles .
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