Globalization
Globalization
What do you know about globalization?
According to the Oxford English Dictionary, the word "globalization" was first employed in a publication entitled Towards New Education in 1930, to denote an integral view of human experience in education. But it was not until the 1960s that the term began to be widely used by economists and other social scientists. The term has since then achieved widespread use in the established press by the later half of the 1980s. Since its beginning, the concept of globalization has inspired numerous competing definitions and interpretations, with antecedents dating back to the great movements of trade and empire across Asia and the Indian Ocean from the 15th century onwards.
Read this article about this term adapted from Wikipedia
Globalization refers to the increasing unification of the world's economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. The goal is to increase material wealth, goods, and services through an international division of labor by international relations, specialization and competition. It describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade. The term is most closely associated with the term economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence. However, globalization is usually recognized as being driven by a combination of economic, technological, sociocultural, political, and biological factors. The term can also refer to the transnational circulation of ideas, languages, or popular culture through acculturation. An aspect of the world which has gone through the process can be said to be globalized.
Learn this vocabulary
Then, look at the words and expressions below related to the term globalization
| CAPITAL | wealth available for or capable of use in the production of further wealth, as by industrial investment |
| GLOBALIZATION | the increase of trade around the world, especially by large companies producing and trading goods in many different countries |
| CAPITALISM | an economic system based on private ownership of capital |
| TO RAISE CAPITAL | to obtain money |
| IMF | an international agency to promote trade by increasing the exchange stability of the major currencies |
| FEE | a payment made to a professional person or to a professional or public body in exchange for advice or services |
| INVEST |
to put (money) to use, by purchase or expenditure, in something offering potential profitable returns, as interest,income, or appreciation in value |
| WEALTH | an abundance of valuable possessions or money |
| LOGISTICS |
the organisation of supplies and services for any complex operation |
| ACCULTURATION | the process of adopting the cultural traits or social patternsof another group |
| TRADE | the buying and selling of goods and services |
| SUPPLY & DEMAND | the amount of goods available and the amount wanted by people. The relationship between these is regarded as controlling economic activity or prices |
| WORLD BANK | a United Nations agency created to assist developing nations by loans guaranteed by member governments |
| TARIFF |
a government tax on imports or exports |
* (International Monetary Fund)
Do you know the meaning of these expressions?
Read the paragraph below and fill in the missing words. Choose from the list
| CULTURE | WORKERS |
DISCRIMINATION |
INVESTMENT |
CONSUMER |
| ECONOMICALLY | UNDEMOCRATIC |
INTERNATIONALISED |
DEVELOPMENT |
FINANCIAL
|
It doesn't matter how far apart we might be geographically, or culturally, we're all held tightly together as members of the human race in an all-embracing web.
Jobs are leaving many of the developed nations and moving to developing nations. The money earned helps those developing nations move forward in the world - more jobs, cheaper goods, more profits for research and . Everybody wins.
Countries which are open to external are able to develop their economies to generate incomes from exports and raise their standards of living.
Of the world's 6 billion people, 175 million are migrants, a phenomenon which has ' ' many cities. Melbourne is the world's third largest Greek-speaking city, and in New York there are more people who speak Spanish as their first language than there are who speak English. The overseas earnings of migrants assist their country of origin - the Philippines was less severely affected by the Asian crisis than its neighbours, aided in part by more than $7 billion in annual remittances from overseas Filipino .
Young people have adopted international brands and styles without . They dress up like their favourite band, mouthing the words to songs they don't understand and that support values that don't belong to them. Our is under siege!
Recently we have seen the collapse of regimes, improved workers' rights, an increase in environmental awareness and responsibility, and an increase in consumer advocacy. When companies abuse their global position they are caught out and forced to change their ways, thanks to the empowerment of the global .
Adapted from the web: www.globaleducation.edna.edu.au/globaled/go/cache/offonce/pid/1440