Illustrate your answer with examples of ways in which globalization is operating in the modern world.

A couple of years ago, the term globalization was relatively unknown. Today you can see signs of it almost everywhere and it is affecting virtually everyone in the modern society. Globalization relates to the fact that we all increasingly live in “one world”, so that individuals, groups and nations become more interdependent (Giddens 2001).

Many see globalization as a primarily economic phenomenon, involving the increasingly integration of national economic systems through the growth in international trade, investment and capital flows. However, one can also point to a rapid increase in cross-border social, cultural, political and technological exchange as part of the phenomenon of globalization. These aspects of globalization will be dealt with in turn in this essay.

As a result of the growth of transnational corporations (TNC) an increasing integration of economies around the globe has appeared more and more clearly in the last couple of decades. “Transnational corporations are th

Giddens, A. (2001) Sociology 4th Ed. Cambridge: Publisher Blity Press

In summary, globalization is a complex phenomenon dealing with a lot of aspects integrating one and another. Its impacts may differ from time to time, but it always brings the economical, political, social, technological, and cultural aspects of society to the global level. One thing is sure, globalization influence people one way or another; it has been driven forward by the development of information and communication technologies. This process has intensified the speed and scope of interaction between people all around the world.

Giddens, A. (1999) ‘Globalization’, BBC Reith Lectures 1999, Last modified 1999. Available: http://news.bbc.co.uk/hi/english/static/events/reith_99/week1/week1.htm

In political terms globalization can be signified by the big international and regional mechanisms of government. The United Nations (UN) and the European Union (EU) are two evident examples of international organizations that bring together nation-states into a common political forum (Giddens 2001). EU has increased largely the last couple of years and almost all countries in Europe want to be a part of this Union. In a n

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