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Globalization: By: Abdul Qayyum Manzoor and Abubakar Zubair

Globalization refers to the increasing integration and interaction between countries through advances in transportation and telecommunications. It has a long history dating back thousands of years but accelerated significantly from the 1600s onward as European powers colonized Asia and traded globally. Major postwar institutions like the IMF, World Bank, and GATT further drove globalization by reducing barriers to trade and capital flows between nations. Globalization occurs through the transfer of economic resources, spread of cultural practices, and increasing international cooperation on political issues.

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42 views12 pages

Globalization: By: Abdul Qayyum Manzoor and Abubakar Zubair

Globalization refers to the increasing integration and interaction between countries through advances in transportation and telecommunications. It has a long history dating back thousands of years but accelerated significantly from the 1600s onward as European powers colonized Asia and traded globally. Major postwar institutions like the IMF, World Bank, and GATT further drove globalization by reducing barriers to trade and capital flows between nations. Globalization occurs through the transfer of economic resources, spread of cultural practices, and increasing international cooperation on political issues.

Uploaded by

Qayyum manzoor
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© © All Rights Reserved
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Globalization

By:
Abdul Qayyum Manzoor and Abubakar Zubair
What is Globalization?
• Globalization refers to the integration of markets in the global
economy or in simple words, It describes the way countries and
people of the world interact .
• Advances in transportation, telecommunications infrastructure
and other areas have been major factors in increasing
globalization.
History of Globalization
The term “globalization” is very recently introduced in the 1970’s, however the concept can
be dated back thousands of years ago. Significant progress took place in last four centuries.
1600-1800
• European countries such as Britain, France, Holland and Portugal sent trade missions to
Asia and Asian subcontinent.
• 1607, East India company arrived in India.
1800
• Industrial revolution, growth in demand and population, economies of scale, advancement
in transportation led to exponential growth in globalization.
Post world war 2
• 1952, IMF (International Monetary Fund) formed
• 1955 ,GATT (General Agreement of Tariffs and Trade)
• Since then Bilateral and Multilateral trade agreements formed such as NAFTA, TPP, WTO.
Types of Globalization
1. Economic Globalization:
• Economic globalization is a process involving the transfer of
economic resources form one country to another for example The
products of an advanced country enter the markets of those
countries that have demands for these products. Thus,
globalization is a process involving transfer of economic resources.
•
• .
• Cultural globalization:
• Cultural globalization means that the culture of one area is
becoming increasingly popular in a new area for example today
western culture like English movies and TV shows are being
watched all over the world and western music has become popular
in a lot of countries.
• Political globalization:
Political globalization is when governmental action takes place on a
global level, where responsibilities, such as the welfare of citizens
and economic growth, are acted upon by an international political
body. The creation and existence of the United Nations has been
called one of the classic examples of political globalization.

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