Editing Globalization (section)

{{short description|Spread of world views, products, ideas, capital and labor}}
{{redirect|Globalize|the JavaScript library|Globalize (JavaScript library)|other uses|Globalization (disambiguation)}}
{{distinguish|Globalism}}
{{pp-move}}
{{Use dmy dates|date=March 2022}}
{{Use American English|date=August 2016}}
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| footer = '''Top-left''': showing early migration patterns of humans across the globe as part of the [[history of globalization]]. '''Top-right''': the Namban ship carrying [[Europe]]ans to trade with [[Japan]]. '''Middle-left''': the [[headquarters]] of the [[headquarters of the United Nations|United Nations]] in [[international territory]] within [[Midtown Manhattan]], [[New York City]]. '''Middle-right''': a branch of the American superstore [[Walmart]], the [[List of largest companies by revenue|largest company in the world by revenue]] as of 2021, in [[Richmond Hill, Ontario|Richmond Hill]], [[Ontario]], [[Canada]]. '''Bottom''': a map of [[Submarine communications cable|undersea cable]] connections around the [[Africa]]n continent to and from [[Europe]], [[Asia]], and across the [[Atlantic Ocean]].
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{{Sociology}}

'''Globalization''' is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to [[international trade]], the liberalization of capital movements, the development of [[transportation]], and the advancement of [[information and communication technologies]].<ref>{{cite journal |last1=Scholte |first1=Jan Aart |title=Defining Globalisation |journal=[[The World Economy (journal)|The World Economy]] |date=2008 |volume=31 |issue=11 |pages=1471–1502 |doi=10.1111/j.1467-9701.2007.01019.x|url=http://elartu.tntu.edu.ua/handle/lib/46943 }}</ref> The term ''globalization'' first appeared in the early 20th century (supplanting an earlier French term ''mondialisation''). It developed its current meaning sometime in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the [[Post–Cold War era|post–Cold War world]].<ref name="tandfonline.com">{{Cite journal|last2=Steger|first2=Manfred B.|author-link2=Manfred Steger|year=2014|title=A Genealogy of globalization: The career of a concept|url=http://www.tandfonline.com/toc/rglo20/11/4|journal=Globalizations|volume=11|issue=4|pages=417–34|doi=10.1080/14747731.2014.951186|last1=James|first1=Paul|bibcode=2014Glob...11..417J |s2cid=18739651|author-link1=Paul James (academic) |issn = 1474-7731|url-access=subscription}}</ref>

The origins of globalization can be traced back to the 18th and 19th centuries, driven by advances in transportation and communication technologies. These developments increased global interactions, fostering the growth of international trade and the exchange of ideas, beliefs, and cultures. While globalization is primarily an economic process of interaction and integration, it is also closely linked to social and cultural dynamics. Additionally, [[disputes]] and [[international diplomacy]] have played significant roles in the history and evolution of globalization, continuing to shape its modern form. Though many scholars place the [[History of globalization|origins of globalization]] in [[modernity|modern times]], others trace its history to long before the European [[Age of Discovery]] and voyages to the [[New World]], and some even to the third millennium BCE.<ref name="GL-H-09" /> Large-scale globalization began in the 1820s, and in the late 19th century and early 20th century drove a rapid expansion in the connectivity of the world's economies and cultures.<ref>{{Cite journal|last1=H.|first1=O'Rourke, Kevin|last2=G.|first2=Williamson, Jeffrey|s2cid=15767303|date=1 April 2002|title=When did globalisation begin?|journal=European Review of Economic History|language=en|volume=6|issue=1|doi=10.1017/S1361491602000023|issn=1361-4916|pages=23–50}}</ref> The term ''[[global city]]'' was subsequently popularized by [[sociologist]] [[Saskia Sassen]] in her work ''The Global City: New York, London, Tokyo'' (1991).<ref>Sassen, Saskia - ''[http://pup.princeton.edu/titles/6943.html The Global City: New York, London, Tokyo.] {{webarchive|url=https://web.archive.org/web/20150316103717/http://pup.princeton.edu/titles/6943.html |date=16 March 2015 }}'' (1991) – [[Princeton University Press]]. {{ISBN|0-691-07063-6}}</ref>

Economically, globalization involves goods, [[Service (economics)|services]], data, technology, and the economic resources of [[Capital (economics)|capital]].<ref name="Albrow">{{Cite book|url={{google books|id=lfe1AAAAIAAJ|plainurl=yes}}|title=Globalization, Knowledge and Society|last1=Albrow|first1=Martin|last2=King|first2=Elizabeth|publisher=Sage|year=1990|isbn=0-8039-8323-9|location=London|oclc=22593547}}</ref> The expansion of global markets liberalizes the economic activities of the exchange of goods and funds. Removal of cross-border trade barriers has made the formation of global markets more feasible.<ref>{{Cite book|url=https://www.nap.edu/read/2134/chapter/3|title=Read "Following the Money: U.S. Finance in the World Economy" at NAP.edu|year=1995|publisher=National Academies Press |doi=10.17226/2134|isbn=978-0-309-04883-5|language=en}}</ref> Advances in transportation, like the [[steam locomotive]], [[steamship]], [[jet engine]], and [[container ships]], and developments in telecommunication infrastructure such as the [[telegraph]], the [[Internet]], [[mobile phones]], and [[smartphones]], have been major factors in globalization and have generated further interdependence of economic and cultural activities around the globe.<ref name="Imagining">{{cite web | url=http://www.elon.edu/e-web/predictions/150/1830.xhtml | title=Imagining the Internet | publisher=Elon University School of Communications | work=History of Information Technologies | access-date=17 August 2009 | archive-url=https://web.archive.org/web/20090323040248/http://www.elon.edu/e-web/predictions/150/1830.xhtml | archive-date=23 March 2009 }}</ref><ref name="Stever_1972">{{cite journal | last1 = Stever | first1 = H. Guyford | year = 1972 | title = Science, Systems, and Society | journal = Journal of Cybernetics | volume = 2 | issue = 3| pages = 1–3 | doi = 10.1080/01969727208542909 }}</ref><ref>{{cite journal|last=Wolf|first=Martin|date=September 2014|title=Shaping Globalization|url=http://www.imf.org/external/pubs/ft/fandd/2014/09/pdf/wolf.pdf|journal=Finance & Development|publisher=International Monetary Fund|volume=51|issue=3|pages=22–25|access-date=10 August 2015|archive-url=https://web.archive.org/web/20180922062300/https://www.imf.org/external/pubs/ft/fandd/2014/09/pdf/wolf.pdf|archive-date=22 September 2018|url-status=live}}</ref>

Between 1990 and 2010, globalization progressed rapidly, driven by the information and communication technology revolution that lowered communication costs, along with trade liberalization and the shift of manufacturing operations to emerging economies (particularly China).<ref>{{Cite book |last=Bank |first=European Investment |url=https://www.eib.org/en/publications/20240179-navigating-supply-chain-disruptions |title=Navigating supply chain disruptions: New insights into the resilience and transformation of EU firms |date=2024-10-03 |publisher=European Investment Bank |isbn=978-92-861-5807-0 |language=EN}}</ref><ref>{{Cite web |title=Globalisation, automation and the history of work: Looking back to understand the future |url=https://unctad.org/news/globalisation-automation-and-history-work-looking-back-understand-future |website=UNCTAD}}</ref><ref>{{Cite web |title=Global Trade Liberalization and the Developing Countries -- An IMF Issues Brief |url=https://www.imf.org/external/np/exr/ib/2001/110801.htm |access-date=2024-10-10 |website=www.imf.org}}</ref> In 2000, the [[International Monetary Fund]] (IMF) identified four basic aspects of globalization: trade and [[Financial transaction|transactions]], [[capital (economics)|capital]] and [[investment]] movements, [[Human migration|migration]] and movement of people, and the dissemination of [[knowledge]].<ref name="12th April 2000: IMF Publications">{{Cite web|url=http://www.imf.org/external/np/exr/ib/2000/041200to.htm|title=Globalization: Threat or Opportunity?|date=12 April 2000|publisher=International Monetary Fund|url-status=live|access-date=28 November 2019|archive-url=https://web.archive.org/web/20170818185451/http://www.imf.org/external/np/exr/ib/2000/041200to.htm|archive-date=18 August 2017}}</ref> Globalizing processes affect and are affected by [[business]] and [[Employment|work]] organization, economics, sociocultural resources, and the natural environment. Academic literature commonly divides globalization into three major areas: [[economic globalization]], [[cultural globalization]], and [[political globalization]].<ref name="Ritzer2008-146">{{cite book|title=The Blackwell Companion to Globalization|last=Babones|first=Salvatore|publisher=John Wiley & Sons|year=2008|isbn=978-0-470-76642-2|editor-last=Ritzer|editor-first=George|location=Malden|page=146|chapter=Studying Globalization: Methodological Issues|oclc=232611725|chapter-url={{google books|id=XKnmvRATtfAC|page=146|plainurl=yes}}}}</ref>

Proponents of globalization point to [[economic growth]] and broader societal development as benefits, while opponents claim globalizing processes are detrimental to social well-being due to [[ethnocentrism]], environmental consequences, and other potential drawbacks.<ref>{{Cite web |date=2021-04-01 |title=6 Pros and Cons of Globalization in Business to Consider |url=https://online.hbs.edu/blog/post/pros-and-cons-of-globalization |access-date=2024-09-04 |website=Business Insights Blog |language=en}}</ref><ref>{{Cite web |title=Weighing the Pros and Cons of Globalization {{!}} Wilson Center |url=https://www.wilsoncenter.org/event/weighing-the-pros-and-cons-globalization |access-date=2024-09-04 |website=www.wilsoncenter.org |language=en}}</ref>
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