Mohammed Al Roumi
Political Science 2401
10/6/2005
Globalization
In today's modern society there are many issues that have shaped who we are today and where we are headed. With development in virtually every field from arts to telecommunications, we live in a world without borders. Globalization is the result of such developments and we must understand its significance. Globalization is a modern term used to describe the changes in societies and the world economy that result from dramatically increased international trade and cultural exchange.
Globalization is a revolution that is expanding across the globe rapidly and is altering the global background. When you log onto the internet, talk on your cellular phone from one part of the world to a friend in another part of the world, and observe events from around the world live from your own television set; these changes are all due from the result of globalization. Globalization leads to a more efficient share of resources, with all countries involved in the trade benefiting. In general, as a result to globalization, prices of goods are lower; more employment around the world, there is higher output, life expectancy rate doubled in the developing world and democracy has spread rapidly across the borders.
An example of a country that has been heavily affected by globalization is China.
From an underdeveloped country it has transformed into a global power house. Since 1978 when it first initiated its "Open Door" policy, China has been one of the major growth spots for international trade and investment. Between 1978 and 2000 foreign trade increased drammatically and today China is the premier recipient of foreign direct investment in Asia. Moreover, exports and foreign investment no ...