Orthodox And Radical Theories Of Globalisation Free Essay Example, 2750 words

Free market economic systems by many governments have amplified their industrious potential within years and created numerous opportunities for both international trade and investment. There negotiated the reduction of barriers to trade by governments and the establishment of international agreements that promotes trade in goods, services, and investment have also initiated the globalization process. Corporations have benefited from overseas markets by constructing new foreign factories and through the establishment of marketing and marketing arrangements with foreign associates. Among the many economic based movements, globalization is the one which had and is still having a major impact on the economic development of many countries and its people worldwide. The word globalization marks a set of transitions in the global political economy since the 1970s, in which multinational forms of the capitalist organization began to be replaced by transnational (Appadurai, cited in Meyer an d Geschiere 1999, p307). The economic part of globalization is the key because with the whole world becoming a kind of global village, barriers between the countries are broken with integration happening mainly in the economic aspects. In this scenario, foreign organizations, using the globalization plank, have entered and will also enter various sectors of the businesses leading to the establishment of many industries and thereby having an impact on social change. We will write a custom essay sample on Orthodox And Radical Theories Of Globalisation or any topic specifically for you Only $17.96 $11.86/pageorder now But, the fact is the entry of countries into various territories and thus making the impact on the culture was an age-old phenomenon, which took place under the guise of imperialism. That is, after Vasco da Gama found the sea route to India, circumventing the Cape of Good Hope, major European countries from the initial years of the 1500s moved in large numbers to develop trade relations. (Gopinath 2008, p16). This trade turned into imperialist leanings due to the weakness of the Asian as well as African countries and in course of time lead to the formation of social change in a basic and minimal scale.