Globalization is not something new. We have heard about it for centuries, for the drag root trades going on through country to country. Initially, the most sophisticated technology such as transportation that has become a major global affair. It is an interchange of the worldviews. Some of us may think that globalization is only trading goods and services throughout the world. It is also about interchanging ideas.
Before going into the effects of the globalization that were pointed out in the tutorial, here I mention some of the basic aspects of globalization: Capital, investments and movements, migration and the movements of the people from one country to another, spreading knowledge, trade and transaction. Based on the window of the current affairs we discussed some of the effects of globalization in socio-cultural frame, economical frame and environmental frame.
Socio-Cultural frame may have many effects from globalization. For instance, whether there is any potential threat of spread of diseases from country to country, such as hiv-aids. International terrorism may be another risk that may affect a country. On the other hand, there are also numerous benefits from the movements of people; new ideologies may be introduced by the traders, or open restaurants with a worldwide mark, or McDonalds, Starbucks and so on. Westernization of a country, or Americanization and there are a lot of socio-cultural aspects that may have an impact from the globalization.
Another effect of globalization is the economical frame. An issue that we talked about was the special economic zone (SEZ) of a country. According to the Investopedia the SEZ is a designated area in countries that possess special economic regulations that are different from other areas in the same country. Moreover, these regulations tend to contain measures that are conducive to foreign direct investment. There are many economic effects such as transportation, telecommunication, investments in a country, joint venture, franchising, privatization, urbanization and so on.
Last but not least, the discussion went on the effects of globalization on environment. I believe that the effects of globalization are uncountable but here I would like to mention only a few. For example, climate change, cross-boundary water, overfishing, industrialization. It is important to remember that environmental frame has an influence on social and as well as economic frame.