Question

1. What do you think about Globalization?

2. Do you think that cultures are becoming more homogenized because of Globalization?  

3. Do you see more or less cultural globalization in the future?

Answer 1

1. Globalization is the term used to describe the increasing interdependence of the world's economies, cultures and populations resulting from cross-border trade in goods and services, technology and investment flows, people and information. Countries have established economic partnerships over many centuries to facilitate these movements. But after the Cold War in the early 1990s, the term gained popularity as these cooperative arrangements shaped modern daily life.Globalization's wide-ranging consequences are nuanced and politically charged. Globalization benefits society as a whole, as with major technological changes, while damaging other classes. Knowing the relative costs and benefits could pave the way to minimize challenges while preserving larger payoffs.

SCALED UP BUSINESS Larger markets allow businesses to attract more consumers and earn a higher return on fixed business costs, such as building factories or conducting research. In this way, technology firms took particular advantage of their innovations.

BETTER QUALITY AND VARIETY Competition from abroad stimulates the development of their goods by US firms. Consumers therefore have better products and more options.

INNOVATION Expanded trade encourages the spread of technology, innovation and ideas. It's easier to spread the best ideas from market leaders.

2. Cultural homogenization is an aspect of cultural globalization, identified as one of its main features, which refers to decreasing cultural diversity by popularizing and disseminating a wide range of cultural symbols— not just physical artifacts, but traditions, beliefs, and values. Cultural homogenisation can have an effect on national identity and culture that would "be destroyed by the influence of global cultural markets and multinational media" The term is usually used in Western culture manipulating and undermining other cultures

3. They need to think economically and culturally about the future of globalization. Technology can reduce regional frictions in terms of global trade economically, leading to greater long-term efficiency. -nation must evolve and adapt to its comparative advantage and natural specialization; as countries change, this development will continue to evolve. This same technology will enable people within and across countries to maintain and adapt rich cultural heterogeneous identities, even as we intermingle and develop a shared identity as global citizens. As with the long-tail effect of e-commerce, the ability to aggregate consumer demand for entertainment, information, and culture across distant geographies will mean that even when people migrate and travel within or outside their countries, maintaining their cultural heritage will become increasingly feasible for them. Immigrants around the world find it much easier to retain their food, language and culture than it was a couple of decades ago, because social media makes it much easier to find ingredients, books, movies, etc.