Globalization has been a hot topic for years now and shows no signs of going away anytime soon. When and where globalization started is a matter that is hotly contested to this day. Technically speaking globalization may have begun as early as the trading routes between China and Europe. When looking up the history of globalization many timelines will include this time period and talk about the expansion of global trade from that point forward. Of course, that is not where the starting point is usually considered to be. The more modern definition is usually agreed to be around the 1980’s when globalization really took off.
Many things contributed to the era of globalization we currently live in. Many of these were invented long before the recent trend of globalization and these factors have allowed it to become a driving force of the modern global economy. Ships and airplanes have been around for decades (and in the case of ships, centuries) before the latest wave of globalization but they lay the foundation for the movement. As shipping costs decrease, it makes more sense to make your product in a cheaper region of the world and then ship it to its destination. Going hand and hand with this are the internet and technology advances that have had the greatest impact on the hyper-globalization of late. Now that it is possible to communicate in real time to the other side of the world as well as automate more processes there is almost no limit in setting up a factory or office in the most cost effective area.
Is this good or bad? This is a question that has people divided. Stories of small towns in America where plants have shut down devastating the town are all too popular. In France the very word “globalisation” has become a derogatory phrase. Where only 22% of people in the country see the movement as a positive change. Economists also disagree about this issue. While inequality between rich and poor has expanded during this time period it is also worth noting that globalization has brought economic prosperity to regions that before lived in dire poverty. Regardless of the debate, globalization is here to stay and will only increase as the technology of our world continues to increase.