Majorly, globalization is subdivided into political, economic and cultural aspects. Moreover, increased interaction between the people and the national states has led to a vast growth of the international trade, improved cultures and generation of more innovative ideas.According to International Monetary Fund (IMF), major facets of globalization include capital and investments, trade and transactions, as well as dissemination of information and movement or migration of people.
As an economic process, globalization implicates the interaction of people on the aspect of economic resources, goods, and services with the use of modern technology. Conversely, globalization is a subject to major environmental challenges which includes global warming, cross-border land, air and water pollution as a result of increased human economic activities across the globe.
However, globalization as a current issue has experienced numerous changes of late. It is imperative to note that change is inevitable and the period between now and 2020 is speculated to bring forth greater changes in the subject of globalization. The increased modern technological advancements in transport and communication sectors are likely to impart both positive and negative changes in the interaction of people and integration of states on matters pertaining to the world economic activities.
Technical predictions of expected global changes are herein discussed below. The first change in globalization is the global networking. Currently, extensive research and innovation in telecommunication have led to the discovery of internet which is known to link people through the World Wide Web platform hence has led to improved communication infrastructure.
This has simplified the interaction of people and integration of nations across the globe by reducing the cost of communication and business transactions. Moreover, the use of smartphones, computers and other electronic devices to access the internet has made enormous changes on globalization. Such devices are designed with certain functionality software which is capable of selecting useful information that can be shared.
With the internet enabled electronic devices, one is able to connect with anybody from anywhere around the world at his or her conveniences. Economically, exchange of goods and services has been made convenient. Business transactions have been more simplified and can as well be done online at an economical cost globally.
The government and states are also able to integrate and reap the potential benefit for the citizens by improving their living standards by maintaining healthy relationships that promote the economic growth of both states. Additional significant change, subject to globalization is on safe marine and air transport, which has drastically reduced the inadequacy of resources.
Sea transport has promoted the transportation of goods and people on the oceans and seas whereas air transport has been set to convey goods and people over the air. This has simplified the transportation of goods and services as well as safe traveling of people across the world. In the transport sector, technological invention stands out as the mother of innovation in airplanes, electric trains, and ship vessels basically used to transport goods and people.
The supply of goods and services to effect businesses across the globe through air, water bodies and modern roads has progressively become more convenient. Increased use of flights has impressively improved the export and import goods for business transactions, which has in return increased the country's GDP.Air transport has led to the rapid delivery of both perishables i.e. agricultural produce (horticultural products) and non-perishable goods within the shortest period of time globally.
With the contemporary increase in airline transport, more airports are likely to be established so as to meet the mounting demand of the usage of the aircraft. More passenger and cargo airplanes are also speculated to increase in the near future so as to meet the growing demand. Bulky goods have also been transported with ease by the use of heavy long-distance trucks.
Additional innovations in the transport sector are still expected foster more changes with an aim of reducing the global distance and making the world a global village.Globalization is expected to rapidly hasten a change in the production of the labor markets. This is due to an extensive role it plays in the economic domain which includes outsourcing, mechanization, and finding of jobs in abroad countries.
However, it shuns a threat of insecurity as a result of cyber-crimes which has adversely infringed the rights of intellectual property worldwide. Moreover, it exposes people to the risk of losing their jobs as a result of technological advancements which renders some of the task done by people computerized.
The introduction and use of artificial intelligence gadgets such as robots used in manufacturing industries have indicated that globalization is facing a change from the labor intensive to capital intensive market. This is likely to cause adverse effects on the jobless people who will struggle to live a life. Also, it will result in a drop in the world's GDP index due to the elimination of human labor.
Politically, globalization has been the pillar behind, cooperation and international cohesion as a result of the global integration of countries. It has brought together the cultures of all states, an imperative desire for peace. Furthermore, it has also led to the formation of global political organizations such as the United Nations and the International human relations.
The global organizations have promoted respect and dignity people's lives globally, an indication of unity. International culture has shrined the world thus allowing people across the globe to discover new cultural practices through traveling for exposures to some international arts, religious cultures, music, televisions and more cultural perspectives.
However, globalization is also believed to further ethical concerns, which results to the creation of worldwide awareness for condemning the social human injustices, and building notions pertaining the rights and responsibilities of persons towards each another on the international realm.To conclude, globalization is contributing largely to promoting the social, political, cultural and economic interaction of people businesses and integration of nations across the globe.
The improved world-wide interaction has led to growth and development of most state economies through international trade which has inflated the GDP of such nations. Globalization has facilitated easy transfer of goods and services for economic purposes. Changes encountered in the globalization of late includes the use of modern technology which has significantly improved the communication and transport sectors in the world.
The use of technology has eliminated global barriers. Increased use of internet has positively improved the connectivity of people across the entire world. Moreover, goods and people have also been safely transported safely both in water bodies and air as a result of technological inventions in the contemporary world.
Besides, globalization is also faced with environmental challenges like global warming and pollution due to adverse human economic activities. However, it is imperative to note that by 2020, the world will be more shrined and access to goods and services, and other needs across the world will be made more convenient.