personal experience of globalization essay

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Globalization: Unraveling Economic, Social, and Cultural Threads

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Essay on Globalization for Students and Children

500+ words essay on globalization.

Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image. Consequently, there is a requirement for huge investment to develop international companies.

How Globalization Came into Existence?

First of all, people have been trading goods since civilization began. In the 1st century BC, there was the transportation of goods from China to Europe. The goods transportation took place along the Silk Road. The Silk Road route was very long in distance. This was a remarkable development in the history of Globalization. This is because, for the first time ever, goods were sold across continents.

Globalization kept on growing gradually since 1st BC. Another significant development took place in the 7th century AD. This was the time when the religion of Islam spread. Most noteworthy, Arab merchants led to a rapid expansion of international trade . By the 9th century, there was the domination of Muslim traders on international trade. Furthermore, the focus of trade at this time was spices.

True Global trade began in the Age of Discovery in the 15th century. The Eastern and Western continents were connected by European merchants. There was the discovery of America in this period. Consequently, global trade reached America from Europe.

From the 19th century, there was a domination of Great Britain all over the world. There was a rapid spread of international trade. The British developed powerful ships and trains. Consequently, the speed of transportation greatly increased. The rate of production of goods also significantly increased. Communication also got faster which was better for Global trade .

Finally, in 20th and 21st -Century Globalization took its ultimate form. Above all, the development of technology and the internet took place. This was a massive aid for Globalization. Hence, E-commerce plays a huge role in Globalization.

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Impact of Globalization

First of all, Foreign Direct Investment (FDI) increases at a great rate. This certainly is a huge contribution of Globalization. Due to FDI, there is industrial development. Furthermore, there is the growth of global companies. Also, many third world countries would also benefit from FDI.

Technological Innovation is another notable contribution of Globalization. Most noteworthy, there is a huge emphasis on technology development in Globalization. Furthermore, there is also technology transfer due to Globalization. The technology would certainly benefit the common people.

The quality of products improves due to Globalization. This is because manufacturers try to make products of high-quality. This is due to the pressure of intense competition. If the product is inferior, people can easily switch to another high-quality product.

To sum it up, Globalization is a very visible phenomenon currently. Most noteworthy, it is continuously increasing. Above all, it is a great blessing to trade. This is because it brings a lot of economic and social benefits to it.

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Personal experience is key to our view of globalization

Threat or salvation? The way in which people judge globalization depends on their own experiences. They carry more weight than forecasts of potential gains. This has been shown in an experiment by researchers at the University of Basel.

03 November 2022 | Noëmi Kern

For decades, global political and economic relations have been seen as the secret to greater prosperity, and have therefore been consistently nurtured and intensified. Recently, however, the process of globalization has faltered – people have become more critical of this political and economic integration, by which they mean the opening up of goods, service and labor markets and a reduction in the scope of political decision-making. “We’re even seeing a counter-trend, a kind of ‘disintegration’. Examples include Brexit, the more protectionist US trade policy, a certain drifting apart in the EU and the tensions in the relationship between the EU and Switzerland,” says Rolf Weder.

The Professor of International Trade and European Integration at the University of Basel and his co-authors in Basel and at the Chapman University (USA) wanted to know how the prospect of gains arising from globalization affects the behavior of individuals. In other words, is support for economic integration dependent on the absolute value and distribution of potential gains?  The researchers have reported on their findings in the journal Experimental Economics .

Different scenarios observed

The researchers conducted an experiment with 900 people, based on a case in which economic integration held out the prospect of higher financial gains for the study participants than a closed economy. It was difficult to actually realize these gains, however, as they were hypothetical and demanded cooperative behavior.

The researchers investigated the way in which potential gains influence behavior by observing the responses of test subjects in different scenarios. The gains varied according to the treatment group and were distributed in different ways. The subjects were subsequently able to decide whether, based on their experiences, they would prefer to continue in an integrated economy or return to a closed economy.

“This approach has the advantage of enabling us to control numerous influencing factors. This was crucial for the issue under investigation,” adds Rolf Weder. The data collected allowed for a targeted evaluation that would have been almost impossible outside the laboratory.

Experience carries more weight than good prospects

The experiment confirms that not everyone benefits from globalization, despite integration promising potential gains for all. The unequal distribution of gains, however, has no influence on the extent to which those involved support economic integration and how effectively they cooperate when it comes to realizing the promised gains.

Rather, support for globalization depends on the individual’s own experience with economic integration. “Based on our findings, the subjects can be described as ‘economically rational’ – and we hadn’t expected to see such an unambiguous result,” says the economist. He adds that personal experience tended to carry more weight than projections or promises, so according to this experiment, showing people the potential gains of globalization would do little to convince them of the benefits of economic integration.

Loss does not automatically mean rejection

The opposite is also the case – the easier it is for individuals to benefit, the more they support globalization. At the same time, this reduces the likelihood of them being among the losers. Confidence in the central institutions that stabilize the global economy is a key factor in this. “There is currently a large deficit here, however,” Weder points out.

But even the losers of globalization are not fundamentally averse to economic and political integration. The more the state cushions the impact by providing them with temporary support in the form of social measures, the lower the level of rejection is likely to be. “For me, this provides confirmation of the established mechanisms in countries like Switzerland and highlights the weaknesses of systems like the one in the US,” says Weder.

“It would now be interesting to investigate how people react when they have the opportunity to compensate the losers, offsetting their losses by sacrificing part of their own gains, for example. We’re only just getting started with these kinds of analyses in the lab,” he concludes.  

This project received substantial support from the SNSF. The experiments were conducted in the laboratory of Chapman University in Orange, California (USA ).

Original publication:

Gabriele Camera, Lukas Hohl, Rolf Weder Inequality as a barrier to economic integration? An experiment. Experimental Economics (2022), doi: 10.1007/s10683-022-09777-4

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Home — Essay Samples — Sociology — Globalization

Essays on Globalization

Hook examples for globalization essays, "the global village" metaphor hook.

"In the age of globalization, our world has transformed into a 'global village.' Explore the implications of this metaphor and how it has reshaped our understanding of interconnectedness and cultural exchange."

The Impact of Digital Connectivity Hook

"In an era where a single tweet can reach millions, digital connectivity has revolutionized globalization. Delve into the profound impact of the internet, social media, and technology on global interactions."

The Paradox of Local vs. Global Hook

"Globalization blurs the lines between local and global identities. Analyze the paradox of preserving cultural heritage while embracing the globalized world and how this tension shapes our societies."

The Global Marketplace Hook

"Globalization has ushered in an era of unprecedented trade and economic interconnectedness. Explore the dynamics of the global marketplace, from multinational corporations to supply chains spanning continents."

Cultural Fusion and Identity Hook

"Globalization has led to a melting pot of cultures, but what happens to cultural identities in the process? Investigate how globalization impacts the preservation and evolution of cultural identities."

The Challenges of Globalization Hook

"While globalization offers numerous benefits, it also presents challenges. Examine issues such as income inequality, cultural homogenization, and environmental concerns that arise in a globalized world."

The Future of Globalization Hook

"As we stand on the brink of a globalized future, what can we expect? Join me in exploring the potential trajectories of globalization, from its impact on politics to the role of emerging technologies."

The Best Globalization Essay Topics

• The Impact of Globalization on Local Cultures: Integration or Erasure?
• The Impact of Globalization on Cultural Identity in Anthropological Studies
• Globalization and Economic Inequality: Bridging the Gap Between Rich and Poor
• The Role of Technology in Advancing Globalization and Its Social Implications
• Environmental Consequences of Globalization: Challenges and Sustainable Solutions
• Analyzing the Advantages and Disadvantages of Globalization
• The Influence of Globalization on Education and Cross-Cultural Exchanges
• Global Political Dynamics: How Globalization Affects Sovereignty and Governance
• Globalization and Health: The Spread of Diseases and Global Health Initiatives
• Consumer Culture and Globalization: The Homogenization of Global Markets

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Globalization's Theories and Effects in The Modern World

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1. Halliday, T. C., & Osinsky, P. (2006). Globalization of law. Annu. Rev. Sociol., 32, 447-470. (https://www.annualreviews.org/doi/abs/10.1146/annurev.soc.32.061604.123136) 2. Fischer, S. (2003). Globalization and its challenges. American Economic Review, 93(2), 1-30. (https://www.aeaweb.org/articles?id=10.1257/000282803321946750) 3. Lang, M. (2006). Globalization and its history. The Journal of Modern History, 78(4), 899-931. (https://www.journals.uchicago.edu/doi/abs/10.1086/511251?journalCode=jmh) 4. Spring, J. (2008). Research on globalization and education. Review of educational research, 78(2), 330-363. (https://journals.sagepub.com/doi/abs/10.3102/0034654308317846?journalCode=rera) 5. Scott, A., & Storper, M. (2003). Regions, globalization, development. Regional studies, 37(6-7), 579-593. (https://www.tandfonline.com/doi/abs/10.1080/0034340032000108697a) 6. Jameson, F. (1998). Notes on globalization as a philosophical issue. In The cultures of globalization (pp. 54-78). Duke University Press. (https://www.degruyter.com/document/doi/10.1515/9780822378426-005/html?lang=de) 7. Frankel, J. A. (2003). The environment and globalization. (https://www.nber.org/papers/w10090) 8. Teeple, G. (2000). What is globalization?. Globalization and its discontents, 9-23. (https://link.springer.com/chapter/10.1057/9780333981610_2)

Relevant topics

• Sociological Imagination
• Stereotypes
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• Personal Identity

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Home / Essay Samples / Social Issues / Globalization / Personal Reflection on How Does Globalization Affect Me

Personal Reflection on How Does Globalization Affect Me

• Category: Social Issues , Education
• Topic: Globalization , Personal Statement

Pages: 2 (687 words)

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