Globalization- Paragraph



Globalization is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. It is a worldwide movement toward economic, financial, trade, and communications integration. The term globalization is a recent concept and has been frequently used since the mid-1980s. It is basically a process of expanding trade and commerce all over the world by initializing borderless markets. But it has a far-reaching impact on many aspects of life. With the rapid advancement of communication and transportation technology, the world has come closer which has turned the world into a global village. Now we can know in an instant what is happening in the farthest corner of the world and share our joys and sorrows like next-door neighbors. Even if we wish we cannot close our doors to others. As a result; mutual understanding and cooperation are increasing among the nations. Consequently, their customs, beliefs, behaviors, and values are also getting integrated. Apparently advantageous, This process is considered a great problem for many nations. However, the ultramodern technology has affected every field of life. In the finance and banking sector, worldwide money transfer and transaction of business have become the matter of clicking the mouse of a computer. International sporting events which are watchable live are creating a sense of brotherhood among the people of different nations. As a means of common lingual communication, people of the world have taken up English as their own language. On the other hand, in the field of trade and commerce, globalization is creating more opportunities for developed countries rather than for the developing ones. In the name of help and cooperation, they are exploiting the cheap labor available in the poorer countries. In true sense, this process paves the way for longer-lasting poverty. The developing countries cannot stand a test in the process of borderless markets. As a result, the gap between the wealthy and the poor is ever-expanding. In fine, whatever may be the after-effects of globalization, this process seems not to stop anywhere anytime.

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