The Meaning of Globalisation and its Effects

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Globalization is defined as the increasing process of interdependence and interconnected between different political, social and economic components of the world. It is the way in which the world is seen as the global village.

Globalization becomes a worldwide system because it integrate people across their national boarders making the world operate as a village and therefore making free movements of goods, capital and information.


Advancement in science and technology. The development of science and technology has contributed greatly to the development of global interconnectedness, interactions and integration of world societies into the global village. The development of science and technology masked the initial stage of integration on between Europe, America and other external world like Africa. The use of internet technology, electronic mails (e-mail) and cellular phones has made communication more easily than ever before.

Advancement in education. Education has contributed greatly for the development of science and technology and integration of people from far distant. Through interaction and integration most people adopted culture from other people and thus the beginning of cultural liberalization.

Social and political liberalization. This process was derived from liberate democratic principle. Liberalists believed that the freedom of individual is the main principle of life believed that people are supposed to have the freedom of individual principle has fastened the development of globalization in the world social liberalization is widely spread due to the advancement of information and communication technologies like TV, E-mail, cellular phones and internet technology. Politically, the integration of politics in global scale has fastened the development of globalization. Traditional politics have been undertaken within national political systems. Political activities, increasingly take place at the global level for instance democratization process, multipartism, formation of NGO’s, Civil Society Organizations as well as international organizations.


Globalization as an economic associated with the following major aspects;

Information and communication technology. Globalization is characterized by advancement of information and communication technology. This sector expanded drastically within the last few years especially by the last quarter of the twentieth century. This period witnessed global distribution of media images through computer screen, radio, newspapers, televisions and mobile phones.

Movement of people. These have been increasing the movement of people from one country to another. These people include tourists, immigrants, refugees, business travelers and diplomats who move from one country to another.

Spread of ideas and ideology. Spread of knowledge, ideas, information and ideologies have been integral aspects of globalization. Direct foreign investment brings both physical capital and technical skills on production methods, managerial skills and global economic policies, spread of technical knowledge how goes hand in hand with diffusion of political ideologies for instance multiparty democracy have been widely used.

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Free market economy. Globalization has been brought about the integration of international political economy through interfinancial institutions, policies and international trade. True markets have become a dominant economic ideology of the world.

Finance. There is also a global flow of money often driven by interconnected currency, market, stock exchange and commodity markets. The flow of money is also facilitated by international financial institutional such as IMF and the World Bank assisted by multilateral banks which have branches almost every part of the world this allow smooth money transactions all over the world.


Privatization refers to the policy of transferring ...

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