Type: Economics
Pages: 3 | Words: 693
Reading Time: 3 Minutes

All people at some stage in their life encounter various associations, unions, and communities. They are designed to share the interaction between natural and legal persons. One of the biggest mergers of all time is world globalization. Globalization is the process of bringing people worldwide together, draining different cultures and nationalities, setting common standards and norms. This social phenomenon has existed since the dawn of years when the first people formed communities, tribes, and states.

Firstly, the world had a lot of major cities which were then joined together creating a state, which, in turn, merged with a nearby country. So, over the years, the modern political map of the world was shaped. However, in history, not a single process can be stopped, so people now can observe schisms, revolutions, and the emergence of new countries. All of these events eventually led to world unity – globalization.

It is quite possible that someday all people will be the citizens of the same state created out of all existing. There will be no world wars, differences in religion, or ideology. All people will be fellow citizens belonging to the same nationality. In general, this is a bright prospect, but still, globalization as a process cannot be helpful to everyone.

The Main Essence of Globalization

The main essence of globalization is the dramatic expansion and complication of the relationship and interdependence of people and nations. The global economic system is developing more and more rapidly. As a result, globalization has both positive and negative effects. Among the first, the following can be mentioned: acceleration of implementation and dissemination of technological advances and modern management methods, new economic opportunities for a state and its citizens, and ability to ensure a higher standard of living.

The negative effects of globalization include growing inequality, the concentration of benefits and opportunities in relatively few countries as well as their uneven distribution inside the countries, the related increase in vulnerability and marginalization of many countries, serious consequences for world civilization, increased threats to the integrity of national cultures, and challenges for the sovereignty of states.

Life shows that in the modern world, the effectiveness of the sovereignty of a state is determined by the level of its economic development. The place of the state in the international system determines its intellectual potential, the possibility of the formation of research infrastructure, investment in education and human resources. Meanwhile, this economic sovereignty does not mean close or self-sufficiency of the national economy, but the real independence of a country in the creation of new technologies, which are competitive in the global market.

National economic interests of any country are a complex set of relationships between national and international economic actors on the production and distribution of gross domestic product. With globalization, these interests, above all, are focused on the long-term development of the economy as a complete and competitive body. Without integration into the world community, the full development of a country cannot happen.

In conditions of the modern scientific and technological revolution, it is impossible and hopeless to stay separated from the world. However, each state has the possibility to use its own sovereignty to significantly adjust the rules of global competition on a domestic market to their advantage so that the involvement of transnational capital is not contrary to national interests and contributes to accelerated socio-economic development.


Finally, globalization as an issue encompasses several advantages and disadvantages. The first and the most important advantage is the elimination of such negative phenomena as racism, the struggle of giants for natural resources, and the general absence of wars and acts of terrorism.

Secondly, it is the creation of a single economic space, the presence of single visa controls, the simplified search of criminals, and facilitated economic ties. Among disadvantages, the next things might be mentioned: loss of cultural heritage of different peoples, a complex management structure, and a large bureaucracy.

In general, globalization is an unstoppable process in which all people participate and create better conditions. The UN, NATO, OPEC, and the Internet – all these things unite people from different parts of the world. Still, everyone should decide for themselves whether this is a positive process or not since everything is relative.

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