globalization


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globalization

Operating around the world. Although many large companies have globalized for decades, the Web, more than any other phenomenon, has enabled the smallest company to have a global presence. See localization.

globalization

A mulifaceted process in which the world is becoming more and more interconnected and communication is becoming instanteneous. Aspects of this process include:
  1. the transformation of the spatial arrangement and organization of social relations involving ‘action at a distance’, a stretching of social relations and transactions (and power), including instantaneous communications across time-space;
  2. the increasing extensity, intensity, velocity and impact of global social relations and transactions (see Held et al. 1999);
  3. the creation of new networks and nodes – the ‘network society’ (CASTELLS) – associated with the new levels of dependence on knowledge/ information and ‘expert systems – the ‘information’ or ‘knowledge society’ – as well as the new risks associated with this – RISK SOCIETY;
  4. a dialect between the global and the local in which (consistent with a dialect of power and the duality of structure) the outcome is not a simple triumph of the centre over the periphery, mere Americanization’, or suchlike (see also MCDONALDIZATION).

As Held et al. (1999) suggest, a ‘vibrant’ ongoing debate exists on the characterization of globalization between three groups of theorists:

  1. ‘hyperglobalizers’ (e.g. Ohmae 1990; 1995) for whom global marketization is the main driver;
  2. 'S ceptics’ (notably Hirst and Thompson 1996a and b), who play down the level and distinctiveness of the change;
  3. ‘transformationalists’, including GIDDENS, for whom globalization is a distinctive new phase such that societies and states across the globe are experiencing profound social as well as economic changes – a ‘massive shake-out’ of social relations, economies, governance and politics – as they seek to adapt to an increasingly interconnected but also unpredictable and uncertain world.
References in periodicals archive ?
The strength of Sun and Lancaster's book is its exclusive focus on Chinese globalization, and the first chapter details China's global connections and cross-border human contacts.
Therefore, we argue that the main linkage between international relations and globalization theory relies in the new empirical realms of world politics; namely, in the different mechanisms of global and regional governance.
With the emphasis on globalization, it is easy to forget the need for glocal understanding, or glocalization.
The wrangling between Greece and its euro zone partners over its debts may ultimately result in its exit from the single currency, a project that is partly predicated on the desire to capitalize on the forces of globalization.
As well as even though globalization phrase goes back to the early 1960, this phrase had not cover the public awareness until a quarter-century later, namely 90 decade [28].
China once had its doubts about economic globalization but it made a historical choice to ride the unpreventable tide and opened up to the outside world at the end of the 1970s.
Like globalization, many scholars believe that inward FDI is the driving engine for the growth of innovation and technical output as investigated by Baskaran and Muchie, Lin and Yu, Salim, Razavi, and Mofrad, Ning, Wang and Li, Wang.4 Literature shows that MNEs improve the technological capacity of the host country through demonstration effect, competition effect and labour migration as well as forward and backward linkages, and development of human capital of labour.5 Inflow of foreign direct investment fosters innovation and technological output in a country through knowledge spillover effect which improves domestic factors of production.
In my 2019 book, The Globotics Upheaval: Globalization, Robotics and the Future of Work, I call it telemigration, but it is really just international telecommuting and it is already very common in some sectors like web development.
Although there is much in globalization to praise, Myers is clear that it is not without its problems.
Germans are not the only Europeans who want to see more safeguards in place against the potential downsides of globalization. In France, 75 percent of respondents say the government needs to do more to protect the domestic economy, while in the UK, 59 percent are of the same opinion.
While Rahman (2012) analyzed globalization in the form of MNCs, who according to him change the socio-economic conditions of the host countries, Shamsher and Abdullah (2012) considered internet technology as the main source for bringing changes in consumption patterns.
Globalization can further be defined as the arrival of 'self-generating capital' at the global level.