International Journal of Trend in Scientific Research and Development (IJTSRD)
Volume 8 Issue 6, Nov-Dec 2024 Available Online: [Link] e-ISSN: 2456 – 6470
Globalization
Paul A. Adekunte1, Matthew N. O. Sadiku2, Janet O. Sadiku3
1
International Institute of Professional Security, Lagos, Nigeria
2
Roy G. Perry College of Engineering, Prairie View A&M University, Prairie View, TX, USA
3
Juliana King University, Houston, TX, USA
ABSTRACT How to cite this paper: Paul A.
Without any gainsaying, globalization has had many effects both Adekunte | Matthew N. O. Sadiku | Janet
positive and negative across the world as it is inextricably linked with O. Sadiku "Globalization" Published in
people’s lives. Globalization is the process of interaction and International
Journal of Trend in
integration among people, companies, and governments worldwide.
Scientific Research
It is an economic process of interaction and integration that is and Development
associated with social and cultural aspects. The increase in global (ijtsrd), ISSN:
interaction is the cause for the growth in international trade and the 2456-6470,
exchange of ideas, beliefs, and culture. Disputes and international Volume-8 | Issue-6, IJTSRD72680
diplomacy are also large parts of the history of globalization, and of December 2024,
modern globalization. pp.733-740, URL:
[Link]/papers/[Link]
The paper looks at the benefits, pros and cons of globalization, the
challenges/solutions and its future prospects to humanity in general. Copyright © 2024 by author (s) and
International Journal of Trend in
KEYWORDS: Globalization, disputes/dispute resolution,
Scientific Research and Development
international diplomacy, international markets Journal. This is an
Open Access article
distributed under the
terms of the Creative Commons
Attribution License (CC BY 4.0)
([Link]
INTRODUCTION
Globalization is about the growing and expanding interactions has brought about growth in international
interdependence of the world’s economies, cultures, trade and exchange of ideas, beliefs, and culture.
and populations brought about by cross-border trade Economically, globalization involves goods, services,
in goods and services, technology, and flows of data, technology, and the economic resources of
investment, people, and information. Several capital [3]. The expansion of global markets
countries have now built economic partnerships to liberalizes the economic activities of the exchange of
enhance these movements over many centuries. The goods and funds. The formation of global markets has
term gained popularity after the Cold War in the early become more feasible due to the removal of cross-
1990s, as these cooperative arrangements shaped border barriers [4]. The advances in transportation,
modern everyday life. Globalization, despite its such as the steam locomotive, steamship, jet engine,
benefits, has also harmed certain groups and and container ships, and the developments in
aggravating inflation, supply chain disruptions, trade telecommunication infrastructure such as the
disputes, and national security concerns. The relative telegraph, the internet, mobile phones, and
costs and benefits if well understood can pave the smartphones are major factors in globalization and
way for alleviating problems while sustaining the have generated further interdependence of economic
wider payoffs [1]. and cultural activities round the world [5-8].
HISTORICAL PERSPECTIVE TYPES OF GLOBALIZATION
Globalization came into popular use in the 1990s to The following list is a list of the significant types of
describe the unprecedented international connectivity globalization [9]:
of the post-Cold War [2], with the origins traced back 1. Economic globalization: This type of
to 18th and 19th centuries due to advances in globalization integrates several liberal,
transportation and communications technology, as conservative and hybrid economies into one giant
shown in Figures 1 and 2. This increase in global interconnected marketplace, as shown in Figure 3.
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International Journal of Trend in Scientific Research and Development @ [Link] eISSN: 2456-6470
These markets are constantly influencing each Benefits of social globalization: These are –
other and are somewhat interdependent than Increased exposure to more cultures and lifestyles
dependent. This can be seen via how a bubble, a
Building diverse human resource pools
boom, or a recession in the USA influences
people’s jobs in Europe and Asia. This is also Unionization of employees
seen in the performance of stock markets in one Starts a dialogue for various international
country fluctuating based on financial news in problems
another country.
Cons of social globalization are:
Globalization of the economy also means that Lack of localization, resulting to blurred
markets have lesser regulations, which will enable distinction between cultures due to the merging of
companies to trade freely and set up infrastructure in societies and cultures.
another. The movement of manufacturing to
underdeveloped and developing countries is also Increased homogenization of cultures as moves
another example. Globalization helps to reduce towards one massive society, culture will become
barriers to setting up factories and industries in less distinct e. g Hollywood movies is already
another country, by which employers take advantage westernizing cultures in modernization.
of cheaper labor with specialized skills. More prone to contagious diseases.
Benefits: The benefits of economic globalization are 3. Cultural globalization: This refers to the
that:- transmission of ideas, meanings and values
Employees in developing countries have more around the world in such a way as to extend and
opportunities intensify social relations [10]. The process is
Enjoy increased per capital consumption marked by the consumption of cultures that have
been diffused by the internet, popular culture
Enjoy better products at lower prices media, and international travel, as shown in
Enjoy increased income Figure 6.
Enjoy more options for unskilled workers 4. Political globalization: This refers to the ripple
effects and continuity of political relationships
The cons of economic globalization are:
between countries. Some examples of this type of
Job losses in developed markets due to the
globalization are the UN, NATO, WTO which are
development of manufacturing hubs worldwide,
international organizations that debate and
that has shifted manufacturing jobs from the first
regulate international politics and trade, as shown
world to developing nations.
in Figure 7. Globalization also paves the way for
More power to businesses to influence international laws and clauses that secure the
governments. rights of smaller nations, as shown in Figure 8.
Increases exploitation of workers, this has Modern globalization is said to be primarily
resulted to highly disrespectful wages, especially driven by business.
countries in Africa with victims of economic Benefits of political globalization: These are –
globalization. Creation of the single society
Encourage brash consumerism. Formation of international organizations
2. Social globalization: This is the integration of Healthy competition between nations for socio-
societies of the world. However, before economic growth
globalization, people were highly regionalistic.
A collective effort towards common problems
There existed several cultures, giving ways to
tribes, clans, and petty kingdoms. The effects of a Decentralization of the nation-state
good or bad economy, technology, and pandemics Cons of political globalization are:
were limited to the societies these trends emerged
from, while this is not the case in a globalized Softening of national boundaries.
world. In a globalized world, a contagion from Politics and business are getting intertwined, as
one country quickly spreads, could be mutated, most companies try to influence political parties
and can wreak havoc to several societies of the in the country. This could as well be foreign
world e. g the COVID-19 pandemic, as shown in businesses, whose foreign interests can sway the
Figures 4 and 5. political wind according to their desire.
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5. Environmental globalization: Environmental 8. Geographical globalization – This deals with
globalization is simply the consequences of all the intensified geographical movements across
after-effects of other types of globalization. The national borders of commodities, people seeking
development that comes from globalization employment, money and capital investment,
pollutes the environment, as it increases our per cultural values, and environmental pollutants.
capita consumption. This therefore puts a lot of
CONCLUSION
pressure on natural resources, which badly affects
The aim of globalization is to increase the
the ecological cycle. Harmful chemicals due to
interconnectedness and interdependence of the many
industrialization are discharged into the
peoples of the world who all live and work on one
environment is now affecting the climate
large planet, i. e. where people all over the earth
dangerously (e. g increased greenhouse gas GHG
interact with one another in terms of economics,
emissions), as shown in Figure 9. This has caused
politics, and culture. If this is to be achieved, there
many countries worldwide to sign the climate
need be an atmosphere of peace, security, and mutual
accords like the Tokyo Protocol and the Paris
understanding among all the diverse peoples of the
Climate Agreement to invest in lowering its
world in order to foster economic prosperity etc.
carbon emissions.
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6. Technological globalization: The spread of
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7. Financial globalization: Financial globalization is
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[11] M. Tesega (6 October 2022), “Does financial from Africa,” [Link]
globalization contribute to financial financial-globalization-contribute
development in developing countries? Evidence
Figure 1. History of globalization
Source:[Link]
Cq7tVBxpSbxg:1731929239557&q=IMAGES+ON+GLOBALIZATION+BY+WIKIPEDIA&udm=2&fbs=
AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JzWreY9LW7LdGrLDAFqYDH32tgte
NhtZOxnGezgnEGc8k4dQgIn4td5_IKOvJAVYNMpBG_vzv09_z3ozdsV1574v_l4gmjMdaDFLpg9ELpUC
M3lLnYw1mpVTSmqh03mtH24pA&sa=X&ved=2ahUKEwjF9eWY4WJAxXjcKQEHRHdI58QtKgLegQI
ERAB&biw=1034&bih=539&dpr=1#vhid=2WQmubW07IOn6M&vssid=mosaic
Figure 2. Information age
Source:[Link]
0IDyLuhQ0GHoaPAhTWrrNLQ:1731930792464&q=IMAGES+ON++technological+GLOBALIZATION+
BY+WIKIPEDIA&udm=2&fbs=AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JzWre
Y9LW7LdGrLDAFqYDH32tgteNhtZOxnGezgnEGc8k4dQgIn4td5_IKOvJAVYNMpBG_vzv09_z3ozdsV1
574v_l4gmjMdaDFLpg9ELpUCM3lLnYw1mpVTSmqh03mtH24pA&sa=X&ved=2ahUKEwjI6KP96OWJ
AxXgUqQEHYD5I_0QtKgLegQIERAB&biw=1034&bih=539&dpr=1#vhid=AOj4jXDbLa6kEM&vssid=
mosaic
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Figure 3. Economic growth
Source:[Link]
&sca_esv=f844996498a82a61&udm=2&biw=1034&bih=539&sxsrf=ADLYWIKZ23VQAgUhaIJNq9BrE
WRM69J0qw%3A1731930809730&ei=uSo7Z5emLPGF7M8P6ZbTkQU&ved=0ahUKEwjX5sGF6eWJAx
XxAvsDHWnLNFIQ4dUDCBA&oq=IMAGES+ON+political+GLOBALIZATION+BY+WIKIPEDIA&gs
_lp=EgNpbWciLklNQUdFUyBPTiBwb2xpdGljYWwgR0xPQkFMSVpBVElPTiBCWSBXSUtJUEVESUF
Is1lQAFiqLnAAeACQAQCYAZwGoAGrL6oBDTAuMi42LjEuMS4yLjO4AQzIAQD4AQGYAgGgAqcF
wgIEECMYJ5gDAJIHAzUtMaAH-Qg&sclient=img#vhid=2WXSNAlOQUpCVM&vssid=mosaic
Figure 4. Globalization
Source:[Link]
KSrMT65iU8Fg:1731928937225&q=IMAGES+ON+GLOBALIZATION+BY+WIKIPEDIA&udm=2&fbs
=AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JzWreY9LW7LdGrLDAFqYDH32tgt
eNhtZOxnGezgnEGc8k4dQgIn4td5_IKOvJAVYNMpBG_vzv09_z3ozdsV1574v_l4gmjMdaDFLpg9ELpU
CM3lLnYw1mpVTSmqh03mtH24pA&sa=X&ved=2ahUKEwiaiNGI4uWJAxU3VaQEHfjtI5kQtKgLegQI
DxAB&biw=1034&bih=539&dpr=1#vhid=FX3QjDGRozhWWM&vssid=mosaic
Figure 5. Globalization
Source:[Link]
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AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JzWreY9LW7LdGrLDAFqYDH32tgte
NhtZOxnGezgnEGc8k4dQgIn4td5_IKOvJAVYNMpBG_vzv09_z3ozdsV1574v_l4gmjMdaDFLpg9ELpUC
M3lLnYw1mpVTSmqh03mtH24pA&sa=X&ved=2ahUKEwjF9eWY4WJAxXjcKQEHRHdI58QtKgLegQI
ERAB&biw=1034&bih=539&dpr=1#vhid=xnxDBXsIYz2cTM&vssid=mosaic
Figure 6. Cultural globalization
Source:[Link]
Cq7tVBxpSbxg:1731929239557&q=IMAGES+ON+GLOBALIZATION+BY+WIKIPEDIA&udm=2&fbs=
AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JzWreY9LW7LdGrLDAFqYDH32tgte
NhtZOxnGezgnEGc8k4dQgIn4td5_IKOvJAVYNMpBG_vzv09_z3ozdsV1574v_l4gmjMdaDFLpg9ELpUC
M3lLnYw1mpVTSmqh03mtH24pA&sa=X&ved=2ahUKEwjF9eWY4WJAxXjcKQEHRHdI58QtKgLegQI
ERAB&biw=1034&bih=539&dpr=1#vhid=EP0_bw6NJ8QH2M&vssid=mosaic
Figure 7. World Trade Organization
Source:[Link]
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AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JzWreY9LW7LdGrLDAFqYDH32tgte
NhtZOxnGezgnEGc8k4dQgIn4td5_IKOvJAVYNMpBG_vzv09_z3ozdsV1574v_l4gmjMdaDFLpg9ELpUC
M3lLnYw1mpVTSmqh03mtH24pA&sa=X&ved=2ahUKEwjF9eWY4WJAxXjcKQEHRHdI58QtKgLegQI
ERAB&biw=1034&bih=539&dpr=1#vhid=CnH55eccCssfQM&vssid=mosaic
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Figure 8. International relations
Source:[Link]
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WRM69J0qw%3A1731930809730&ei=uSo7Z5emLPGF7M8P6ZbTkQU&ved=0ahUKEwjX5sGF6eWJAx
XxAvsDHWnLNFIQ4dUDCBA&oq=IMAGES+ON+political+GLOBALIZATION+BY+WIKIPEDIA&gs
_lp=EgNpbWciLklNQUdFUyBPTiBwb2xpdGljYWwgR0xPQkFMSVpBVElPTiBCWSBXSUtJUEVESUF
Is1lQAFiqLnAAeACQAQCYAZwGoAGrL6oBDTAuMi42LjEuMS4yLjO4AQzIAQD4AQGYAgGgAqcF
wgIEECMYJ5gDAJIHAzUtMaAH-Qg&sclient=img#vhid=JtZqWvlzaNrcJM&vssid=mosaic
Figure 9. Outline of globalization
Source:[Link]
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AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JzWreY9LW7LdGrLDAFqYDH32tgte
NhtZOxnGezgnEGc8k4dQgIn4td5_IKOvJAVYNMpBG_vzv09_z3ozdsV1574v_l4gmjMdaDFLpg9ELpUC
M3lLnYw1mpVTSmqh03mtH24pA&sa=X&ved=2ahUKEwjF9eWY4WJAxXjcKQEHRHdI58QtKgLegQI
ERAB&biw=1034&bih=539&dpr=1#vhid=8eLQmjlBP_MmyM&vssid=mosaic
Figure 10. Techno-globalism
Source:[Link]
4M6tAEQPANWPQ:1731978290245&q=IMAGES+ON+technoglobalism+by+wikipedia&udm=2&fbs=A
EQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3JyJJclJuzBPl12qJyPx7ESJehObpS5jg6J8
8CCMRK72qUv4GOvBp3LxAsC35pUAVd1mVJIz_kJEl7OpW0Y42rOM96fEVibRmxJCzmEqh53sBnJM
LdHFyYMnh1J8SLKdTBIS0c&sa=X&ved=2ahUKEwj5q_71meeJAxXqWkEAHRJLJmoQtKgLegQIDxA
B&biw=1034&bih=539&dpr=1#vhid=DU-4xbfdUe1SuM&vssid=mosaic
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Figure 11. Global digital divide
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UDCBA&oq=IMAGES+ON+global+digital+by+wikipedia&gs_lp=EgNpbWciJUlNQUdFUyBPTiBnbG9i
YWwgZGlnaXRhbCBieSB3aWtpcGVkaWFI0JEEUABY_ewDcAB4AJABAJgB7AOgAYUqqgEKMC4xL
jE1LjEuM7gBDMgBAPgBAZgCAqACyQXCAggQABgHGAgYHpgDAJIHBzItMS4wLjGgB8AI&sclient
=img#vhid=sdx8tJWqWyUC5M&vssid=mosaic
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