On the other hand, many of the contemporary views on trade theory and international economics predict that globalization will lead to more intra-industry specialization because of locational concentration. Developing countries are struggling to cope with the new conditions of development and survival. The audio, illustrations, photos, and videos are credited beneath the media asset, except for promotional images, which generally link to another page that contains the media credit. Globalization is sometimes credited with or blamed for influencing both domestic economic performance and the capacity of domestic policies to effect changes in that performance. International economic integration has tended to be a regional rather than a global phenomenon. AP Human Geography Help » Industrialization & Economic Development » … This view argues that globalization is a new form of activity in which a society moves from industrial capitalism to a postindustrial idea of economic relationships. One of the paradoxes addressed by researchers is why there has been a growth of dynamic local economies at a time when places are increasingly under the influence of, and threat of competition from, distant places—threats that are a consequence of the globalization of the markets. Globalization is a process in which geographic distances become less a factor in the sustaining of rigid land borders, long-distance economics, and political and socio-cultural relationships. Is geography simply an outcome of globalization that poses as the cause? When did globalization begin? Although globalization is not a new development, it has rapidly increased with the introduction of new technologies. Many scholars say it started with Columbus’s voyage to the New World in 1492. Freight trains waiting to be loaded with cargo to transport around the United Kingdom. Unquestionably, these types of exchanges were accelerated in the Age of Exploration, when European explorers seeking new sea routes to the spices and silks of Asia bumped into the Americas instead. Finance and transnational corporations are the core subjects of economic geography. Nevertheless, globalization is neither uniform nor homogeneous. Any interactives on this page can only be played while you are visiting our website. Anthropology, Sociology, Social Studies, Civics, Economics. Unsurprisingly, trust in the financial system has evaporated since the collapse of Enron, Worldcom, Ahold, Parmalat, and others. It also seems clear that borders matter irrespective of distance. Globalists claim that globalization is a new transformation of world order and a positive change. If a national country's economy is not performing well, it must be because the economy does not have “enough” economic globalization. In reality, the economic sphere is directed by the World Trade Organization (WTO) with its underlying goal of economic equality in political and cultural influence, through the powerful means of information technology, dominated by the West. When coupled with other substantive political-economic forces, these geographic preconditions—not economic globalization per se—help to explain empirical consequences and outcomes. They point to the interchanges between cultures, economies, and people. Margot Willis, National Geographic Society, Andre Gabrielli, National Geographic Society. Text on this page is printable and can be used according to our Terms of Service. Learn about and revise globalisation, the reasons behind it and the positive and negative impacts with BBC Bitesize GCSE Geography. National Geographic Headquarters To some people, globalization means the ability of transnational corporations, through the use of free trade agreements and free trade zones, to transform space. Also, globalization is accompanied by the rising of inequalities within and between countries. The benefits and disadvantages of globalization are the subject of ongoing debate. The process of globalization exacerbates the existing poverty and inequality situations within and among countries. Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide.Globalization has accelerated since the 18th century due to advances in transportation and communication technology. It refers to intensified geographical movements across national borders of commodities, people seeking employment, money and capital investment, knowledge, cultural values, and environmental pollutants. The sense that there is a global village, a worldwide “us,” has emerged. To understand economic geography is to see the world as a mosaic of regions. For information on user permissions, please read our Terms of Service. The world is now a very small, interconnected place, as a result of globalisation. globalization : Definition. It is a global ideological breakthrough in which democracy is considered to be a twin of the market economy, and these together are supported to form a winning team. She or he will best know the preferred format. As with future globalizing booms, new technologies played a key role in the Silk Road trade. spreading of a species into a new habitat or ecosystem, and establishing a healthy population there. Globalization is often referred to as a contemporary or modern phenomenon, but it can also be studied from a historical perspective; the result of human innovation and technological progress (biotechnologies, miniaturization, digitalization, and photonics). All rights reserved. Recently, the information technology revolution has opened up new possibilities of communications and monitoring abilities across long distances, and has made it easier for transnational corporations to outsource some parts of their business. There is a marked difference between the degree of globalization as reflected in trade, foreign direct investment (FDI), and international finance. How does geography matter in our explanations of globalization? The power exerted by finance is represented by the growing role of capital markets in the globalization processes (the rise and spread of institutional investors). The aim of the module is to provide students with an insight into current research questions in the field of geography. These processes are closing the policy choices for developing countries, which are losing their options. Unfortunately, not everyone is represented equally in the globalization process as it is affected by wealth, access to global communication media, work, financial assets, and cultural norms. Globalization is one of the most widely discussed topics in geography and other social sciences. The downside to globalization can be seen in the increased risk for the transmission of diseases like ebola or severe acute respiratory syndrome (SARS), or in the kind of environmental harm that scientist Paul R. Furumo has studied in microcosm in palm oil plantations in the tropics. This last question points to a significant inversion of cause (geography) and outcome (globalization). Frequently, it is theorized that economic globalization leads to deepening income inequality and unemployment. However, the goal of globalization is not that the entire world would become Westernized and capitalist, but that the Western culture becomes the standard by which other cultures measure themselves. "Globalization" is a broad term that describes the increased interconnectivity between different regions and countries across the globe. AP Human Geography : Globalization Study concepts, example questions & explanations for AP Human Geography. Along with Chinese silk, Roman glass, and Arabian spices, ideas such as Buddhist beliefs and the secrets of paper-making also spread via these tendrils of trade. Historically, economic activity has been tied to geographic location. Increasing diversity in many countries has meant more opportunity to learn about and celebrate other cultures. Trade and idea exchange now extended to a previously unconnected part of the world, where ships carrying plants, animals, and Spanish silver between the Old World and the New also carried Christian missionaries. A regional pattern is clearly evident in the data on global trade flows. On the other hand, anti-globalization views economic globalization as the cause of socioeconomic malaise. To what extent it also represents a possible transformation in the structures of politicoeconomic power is a difficult question.