Differences in Globalization.Differences Between Globalization From Essay

Differences in Globalization.Differences Between Globalization From Above And From Below - Essay Example In the business front, globalization may refer to the aspect of investing resources and conducting businesses beyond domestic and national markets to international markets across the world with a view of enhancing closer relations in different markets (Investopedia 2013, p. 1). Indeed, globalization involves the creation of an open and common global market and investment opportunities. Generally, globalization may define distinct political, economic, and social processes of a given society where it involves the decentralization of modern technologies, ideologies, and practices (Najera 2007, p. 1). This allows for the sharing of information and exercising free will in defined aspects as more people across the globe establish close and relevant relationships. More so, this fosters international trade, international policies, and cultural exchange (Investopedia 2013, p. 1). Ideally, there are significant benefits that relate to globalization in the modern world and hence the support on globalization by various scholars. Nevertheless, there are differences regarding the future and expansion of globalization with some scholars viewing globalization as an inexorable process. This leads to the assumption of different views concerning globalization. This includes globalization from â€Å"below† and globalization from â€Å"above.† The proponents of globalization may relate it to industrial growth in developing nations where such nations benefit from increased employment opportunities and technological transfer from the industrialized nations. Indeed, globalization allows the developing nations to derive economic benefits from the industrialized nations thus fostering economic growth in the developing nations. Nevertheless, we still have critics of globalization who claim that the benefits of globalization are prone to numerous risks. Indeed, the critics of globalization have homogenizing impacts on culture and exploit the domestic people and environment ( Najera 2007, p. 1). Moreover, they assert that globalization demeans national sovereignty and underrates the domestic labor force (Investopedia 2013, p. 1). There are different instruments of globalization, which include the World Trade Organization, the International Monetary Fund, and the World Bank, which recorded immense success in the recent past (Brecher, Costello & Smith 2000, p. 1). As such, it is evident that globalization has taken root and its application in the modern world bears potential benefits. There are different types of globalization, which include economic globalization, cultural globalization, economic globalization, globalization of sport, globalization of higher education, and globalization of medicine, health, religion, and science (Ritzer 2010, p. 60). More so, there are distinct factors that drive contemporary globalization which include technology, capitalism, and multinational corporations (Ritzer 2010, p. 60). Nevertheless, there are differences regardi ng the future and expansion of globalization with some scholars viewing globalization as an inexorable process (Ritzer 2010, p. 60). This leads to the assumption of different views concerning globalization. This includes viewing globalization from â€Å"below† and viewing globalization from â€Å"above.† Notably, there are significant differences between globalization â€Å"from above† and globalization â€Å"from below.† Ideally, we can refer to the view of globalization â€Å"from below† as democratic globalization and refer to the view of globalization from above as corporate globalization. More specifically, globalization â€Å"from below† refers to a situation where individuals (activists) or