Globalization Is Best Defined As a Process Term Paper

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Globalization is best defined as a process of increasing interdependence between all people in the world. From fashion to the environment to multiculturalism to musical fusion and more, globalization emerged as a significant, new worldview in the 1990s. Globalization has created a world market in which goods, money, and people cross international borders as freely as possible. Modern transportation and theology, including the Internet, played a key role in the facilitation of globalization during the 1990s. As a result, there are many different areas in which worldwide perspectives, influences, and interactions during this time period altered daily existence for Americans and other citizens of the world.

As a result of the globalization boom of the 1990s, we now live in a world in which markets, media, law, corporations, labor, scientific research and advocacy groups are international, multinational, and multicultural. This has resulted in an enormous increase in multiculturalism around the world. Thus, globalization has encouraged differences in our daily lives. For example, nearly every city in the world now provides its residents with a variety of food choices, including Spanish, French, Italian, Thai, Middle Eastern, Indian, Mexican, Chinese and more.

In America, and many other nations, citizens have daily access to multiculturalism not only in restaurants, but also in areas of media, education, finance, technology, and religion. We are more likely to understand and accept people from various cultures than perhaps our grandparents were. The conception of multiculturalism is constantly enabling ways in which various cultures could further understanding and recognize one another.

One of the greatest outcomes of globalization is actually the one that made it possible- the rapid spread of technology (IMF, 2000). In the 1980s, businesses began investing in technology on a large scale.

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By the 1990s, most Americans owned personal computers. While global travel revolutionized our ideas on how accessible other countries are, the widespread expansion of the Internet during the 1990s enabled us to communicate between two or more points in the world within seconds.

This has implications for other technologies (IMF, 2000). The advances in biotechnology and nanotechnology mean that we now have an incredible understanding of and control over the fundamental building blocks of all living things. These advances allow us to invent new devices and systems with potential global effects on individual and public health, safety and way of life across the world.

According to the IMF (2000), the rapid growth of technology in the 1990s has many implications for people around the world today. "Information exchange is an integral, often overlooked, aspect of globalization. For instance, direct foreign investment brings not only an expansion of the physical capital stock, but also technical innovation. More generally, knowledge about production methods, management techniques, export markets and economic policies is available at very low cost, and it represents a highly valuable resource for the developing countries (IMF, 2000)."

While globalization has created many opportunities for people, USA Today writer Daniel Yergen points out that there is a dark side of globalization. According to Yergen (2003): "While the increased interconnectedness of countries and economies brings great benefits, it also opens the door to new dangers, such as financial crises, evolving diseases and terrorist acts. We have reaped the benefits of globalization, from higher economic growth and lower-cost goods to much wider opportunities and choices. Now bomb blasts in the Middle East and….....

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