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Essay / Research Paper Abstract
This is a 3 page paper that provides an overview of globalization in the 21st century. Material and cultural issues are examined. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: KW60_KFpol012.doc
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Unformatted sample text from the term paper:
easily communicate with one another without the barriers of cost or time being significant issues. While this has changed everyday culture is appreciable ways, it has perhaps been most impactful
upon the world of business and commerce. The ubiquity of transnational communication has enabled the process of globalization to rapidly advance during the first decade of the 21st century, to
the extent that many are now questioning whether or not globalization as a force is ultimately beneficial or harmful to the world as a whole. This paper will examine the
issue from a number of perspectives. Firstly, one must look at exactly what is meant by globalization in order to coherently discuss the topic. According to the International Monetary Fund,
a working definition of globalization might be expressed as a "historical process", an "extension beyond national borders of the same market forces that have operated for centuries at all levels
of human economic activity - village markets, urban industries, or financial centers" (International Monetary Fund 2000). This understanding of globalization reveals a key aspect of the trend that has the
potential to be worrisome: the fact that it perpetuates a state of global capitalism. Just as capitalism has resulted in a troublesome income disparity in the local sense in many
of the nations where it is most championed, such as the United States, global capitalism also runs the risk of introducing harmful material disparities throughout the world, in regions that
are even less stabilized and less capable of handling such as economic imbalance. Thus far, it does seem that the spread of globalization has resulted in an increase in economic
inequality; the International Monetary Fund has stated for instance that it is "quite obvious that the progress [of globalization] was not evenly dispersed", and that although "output per capita has
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