Globalization is such a commonly used term in the twentiethcentury. It simply means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication.
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Consequently, companies tend to become more productive, competitive thereby raising quality of goods, services and the worlds living standard. Secondly, several companies from the more developed countries have already ventured to establish foreign operations or branches to take advantage of the low cost of labor in the poorer countries. This kind of business activity will provide more influx of cash or investment funds into the less developed countries. However, one cannot deny the negative effects which havederived from globalization.
One crucial social aspect is the risk and danger of epidemic diseases which can easily be spread as the mode transportation is easier and faster in todays advance society. This is evidenced in the recent birds flu disease which has infected most Asian countries over a short time frame. As large corporations invest or take over many off shore businesses, a modern form of colonization will also evolve which may pose certain power pressure on the local governments of the less developed countries.
Unemployment rates in the more developed regions like Europe may also escalate as corporations choose to outsource cheaper work force from Asian countries. In conclusion
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