Unit 2.Globalization

Lead-in

When you wake up in the morning - do you

Ø turn on your Sony Radio;

Ø wear your Levi’s jeans;

Ø apply your French perfume?

Or at lunchtime - do you

Ø visit McDonalds?

Or in the afternoon - do you

Ø play sport in your NIKE shoes or

Ø watch Hollywood movies?

Then at bedtime - do you

Ø look through E-bay items, searching for a stylish but cheap clothes;

Ø talk to your friends who are in the US on Work& Travel program via Skype or

Ø listen to your favourite music on your Apple iPOD?

If you can answer yes to any of these activities then you are a willing or unwilling member of the global community!

Reading, Grammar and Vocabulary

1. Read the text for general understanding. What is the main idea of the text?

WHAT IS GLOBALIZATION?

Development or degradation? Good or bad? Bliss or bane? What is globalization actually up to? Let us shed light on it all through this information.

Let's face it. People are moving from one country to another, trade restrictions are being reduced, domestic markets are opening up for foreign investments, telecommunications are being considerably improved and the countries that initiate innovations are passing on their know-how to the countries which do not. In short, people are no longer bound by territorial restrictions, unless of course, there are security issues. It's no longer about 'my country and me’; it's now more like, 'the world and us'. Businesses are expanding, horizons are widening, and people are coming together to form one homogeneous unit – HUMANITY!

Globalization has rocked our conservative and predictable lives. Call it liberalization, international integration, or broad-mindedness... it has inspired the world with its power and potentiality. If one is asked to give a foolproof answer what it is, it can be said that, globalization is a process by which people, companies, administrations, and governments all over the world can integrate and interact. It is directed by international business and trade, and effectively assisted by information technology. However, globalization does not restrain itself to integration of economies on international basis. There is more to it. Let us begin with defining it.

Definition: Globalization can be defined as an integration of economy, finance, trade, and communications from a world-wide perspective, in order to establish a successful economy on global basis.

The boom of globalization has opened gates for economies both nationally and globally. The last three decades saw many governments adopted the systems of free markets, thus, maximizing their own potential and opportunities for international business as well as investment. What's more, as a result of globalization limitations to business and trade of goods and services across the world are eliminated.

Technology, being one of the chief drivers behind globalization, has transformed the economic life in such as way that people all over the world have new ways to recognize and value the economic opportunities put forth for them. Globalization has stimulated increasing employment, cash flows, development of cultural contacts, foreign trade, and environmental as well as social awareness among people. However, like it's said that there are always two facets to a coin, globalization entails a few negatives too, that are equally considerable. With equal advantages and disadvantages of globalization, it is hard to arrive to a conclusion whether it is a bliss or a bane to the world.