Globalization: The Process of Creating A Connected World With More Opportunities
12. January 2019 at 20:27
by Muhammad Bilal Tahir
Globalization is a process through which countries, companies and people interact across the globe. In the modern international system it would be really difficult for a state to stay stable without globalization. Globalization benefits the world by providing open economic opportunities, diversity in people and opportunities, cross-culture learning resources, to create a more connected world.Globalization has helped the economic world in every aspect by creating new jobs, small and large business opportunities, and the presence of multinational corporations in different countries. It helps the developed states by providing an opportunity to invest in developing countries, and developing states by providing them new jobs and small business opportunities, claims Fredrik Erixon, the director of the European Centre for International Political Economy.
Erixon states that the openness of developing and developed countries towards globalization and the reduction of trade barriers after world war two are the main reasons why many countries’ economy boosted in between 1980 and 2010. (Erixon 4) Globalization also helped the working class on a large scale. A study for European Commision by World Bank estimates that the numbe...