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Globalization Notes Pdf Download -Advantages And Disadvantages

2018-05-16T13:32:11+00:00Categories: Download, Economics|

Globalization Notes Pdf Download -Advantages And Disadvantages

Globalization Notes Pdf Download -Advantages And Disadvantages . – In simplest terms, Globalization refers to global interconnection in terms of trade, ideas, culture, etc. In a Globalized world, social and economic activities transcend the borders and regions.

The government in the contemporary Globalized world is moving from the idea of a welfare state to minimalist state.

A large number of internal policy decisions are impacted and influenced by emergence of powerful Organizations such as WTO, IMF etc

Rapid exchange of ideas, development in communication technology has enabled the government to rule better.

Globalization Notes Pdf Download -Advantages And Disadvantages

Globalisation hindi book download

  • From a business point of view, globalization refers to global interconnections in terms of trade and exchange of ideas, equipment, manpower, technology, etc.
  • A globalized economy allows companies from around the world the opportunity to participate (in terms of manufacturing, trading, marketing, etc.), unlike a closed economy, which excludes participation for many.
  • This opening up of markets is a win-win situation for all the constituent parties. While the companies get access to markets, people get access to more choices.
  • It also allows resource-rich (and service-rich) countries to export their products to resource-deficient (and service-deficient) countries.
  • This has resulted in high growth rates in a number of countries, such as India. 

Globalization has also resulted in environmental damage and emergence of organized crime and violence, as undesirable consequences.

 

What are the factors aiding globalisation? -Globalization Notes Pdf

AreasDetails

Technology

  • Technology: has reduced the speed of communication manifolds.
  • The phenomenon of social media in the recent world has made distance insignificant.

LPG reforms

  • LPG Reforms: The 1991 reforms in India have led to greater economic liberalisation which has in turn increased India’s interaction with the rest of the world.

Faster Transportation

  • Faster Transportation: Improved transport, making global travel easier.
  • For example, there has been a rapid growth in air-travel, enabling greater movement of people and goods across the globe.

Rise of WTO

  • Rise of WTO: The formation of WTO in 1994 led to reduction in tariffs and non-tariff barriers across the world.
  • It also led to the increase in the free trade agreements among various countries.

Improved mobility of capital

  • Improved mobility of capital: In the past few decades there has been a general reduction in capital barriers, making it easier for capital to flow between different economies.
  • This has increased the ability for firms to receive finance.
  • It has also increased the global inter connected of global financial markets.

IMPACTS OF GLOBALISATION IN INDIA

Economic Impact: Globalization Notes Pdf

AreasImpact
More number of Jobs
  • The advent of foreign companies and growth in economy has led to job creation.
  • However, these jobs are concentrated more in the services sector and this has led to rapid growth of service sector creating problems for individuals with low level of education.
  • The last decade came to be known for its jobless growth as job creation was not proportionate to the level of economic growth.
More choices For Consumers
  • Globalisation has led to a boom in consumer products market.
  • We have a range of choice in selecting goods unlike the times where there were just a couple of manufacturers.
More Income – Higher Disposable Income
  • People in cities working in high paying jobs have greater income to spend on lifestyle goods.
  • There has been an increase in the demand of products like meat, egg, pulses, organic food as a result.
  • It has also led to protein inflation.
Shrinking Agriculture Sector
  • Agriculture now contributes only about 15% to GDP.
  • The international norms imposed by WTO and other multilateral Organizations have reduced government support to agriculture.
  • Greater integration of global commodities markets leads to constant fluctuation in prices.

 Globalisation Socio Cultural Impact on Indian Society -Globalization Notes Pdf

AreasImpact
Access to education
  • On one hand globalisation has aided in the explosion of information on the web that has helped in greater awareness among people.
  • It has also led to greater need for specialisation and promotion of higher education in the country.
  • More Number of School and universities Are opened After Globalisation .
Growth of cities:
  • Growth of cities: It has been estimated that by 2050 more than 50% of India’s population will live in cities.
  • The boom of services sector and city centric job creation has led to increasing rural to urban migration.
Indian Cuisine
  • Indian cuisine: is one of the most popular cuisines across the globe.
  • Historically, Indian spices and herbs were one of the most sought after trade commodities.
  • Pizzas, burgers, Chinese foods and other Western foods have become quite popular.
Nuclear Families 
  • Nuclear Families: The increasing migration coupled with financial independence has led to the breaking of joint families into nuclear ones.
  • The western influence of individualism has led to an aspirational generation of youth.
  • Concepts of national identity, family, job and tradition are changing rapidly and significantly.
Old Age Vulnerability 
  • Old Age Vulnerability: The rise of nuclear families has reduced the social security that the joint family provided.
  • This has led to greater economic, health and emotional vulnerability of old age individuals.

 

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