Q. 185.0( 4 Votes )

“Globalisation is fun.” Elaborate.

Answer :

Globalisation is the interconnection between counties through the expansion of foreign trade and foreign investment. It is the process of integrating the home country with foreign countries through the movement of goods, services, investment, technology and people.


Globalisation act as means of social change in society. New ideas, technologies, attitudes and planning spread from different countries because of this. It results in the mingling of people from varied cultures and beliefs. It results in the development of combined culture. It enables the people to break their constricted stereotypes and attitudes and widen their mental, emotional and psychological attitudes.


Globalisation also results in the inflow of additional investment to the home country. Huge firms with many resources may bring in their additional share of investment. This is particularly beneficial to the developing countries that have scarcity in resources.


New and advanced technology is also an advantage of globalisation. MNCs, bring in with them the latest technology as an investment to the home country. MNCs always have new and advanced technology for operations which can be used by the home countries to increase their production.


Globalisation will result in increased employment opportunities. MNCs always bring in with them the bulk of employment opportunities. They will require qualified and professional employees for the management of their regional offices in the home country. It will also increase employment in allied sectors like transportation, IT and other industries. They will also generate a lot of other jobs in sectors like footwear and garments when they place orders for the products with the local industries. This increases employment opportunities in the home country.


Thus globalisation is fun if its positive aspects are considered. But it has also widened the gap in income distribution, jobless growth, insecure jobs and the shutting down of many domestic industries. In short, globalisation has resulted in the domination of the large MNCs in the world economy.


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“Globalisation is fun.” Elaborate.

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