Globalization and Its Main Characteristics Essay

Globalization and Its Main Characteristics - Essay Example Reich (1998) defined globalization as â€Å"a process through which events, decisions and activities in one part of the world can come to have a significant consequence for individuals and communities in quite distant parts of the globe (Reich, 1998, p.5). It is the process through which economies, societies, and cultures are exchanging their resources for mutual benefits. Moreover it is the process which integrate global network of political, technological, economical and cultural ideas through communication, transportation, and trade. In short, globalization is an effort to bring all the people in this world under one umbrella. This paper analyses the different characteristics of globalization. Globalization succeeded in bringing many social, political and economical changes in the world. It is intended for decreasing the gap between; rich and poor, different religious beliefs, different political and social ideologies etc. Poor countries may have many resources, but they may not have the infrastructure or technological expertise to exploit it. Globalization can help such poor countries to mobilize their resources more effectively with the cooperation from rich countries. For example, it is quite possible that oil resources are available in many of the poor countries. However these countries may not have the technological expertise or financial abilities to explore oil in their coastal regions. Rich countries can help such poor countries in exploring oil resources in their territory as a result of globalization. Thus, both the countries will be benefitted from their mutual cooperation. It is illogical for a poor country to keep their valuable natural resources untouched wh ile striving for progress. According to Lauder et al (2006), many people tempted to think globalization as the â€Å"process of transportation of jobs, ethnic and cultural composition of nations etc from one country to another† (Lauder et al, 2006, p.32).