In this article I highlight the general themes in the post-Cold War Era under the scope of the five dimensions of globalization, namely: Social, Technological, Economic, Environmental and Political.

Poverty is a socio-economic issue. Socio-economic issues are factors that have negative influence on an individuals’ economic activity including: lack of education, cultural and religious discrimination, overpopulation, unemployment and corruption.

It includes people who work in high status, secure and stable jobs, like doctors and lawyers and the people who own their own homes. Lower class or working class refers to those who have to work in order to to survive.

It has had a few adverse effects on developed countries. Some adverse consequences of globalization include terrorism, job insecurity, currency fluctuation, and price instability.

Answer: Globalisation is defined as the integration between countries through foreign trade and foreign investments by multinational corporations (MNCs).

Barriers or restrictions that are imposed by government on free import and export activities are called trade barrier. (a) Increase or decrease of foreign trade of the country. (b) With the help of trade barriers government can decide what kinds of goods and how much of each, should be traded in the country.

A Special Economic Zone or SEZ is a specially marked territory or enclave within the national borders of a country that has more liberal economic laws than the rest of the country.

The important factors are:

• (1) Historical: The trade routes were made over the years so that goods from one kingdom or country moved to another.
• (2) Economy:
• (3) Resources and Markets:
• (4) Production Issues:
• (5) Political:
• (6) Industrial Organisation:
• (7) Technologies:
• Eight barriers in economic activities:

Improved transportation, cultural exchange, low barriers to trade, and technological change to name but a few.

In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge.

Internet is perhaps the most visible aspect of globalization and in many ways its driving force. The internet technology is globally integrates the people of the world.

Examples of Globalization

• Example 1 – Cultural Globalization.
• Example 2 – Diplomatic Globalization.
• Example 3 – Economic Globalization.
• Example 4 – Automotive Industry Globalization.
• Example 5 – Food Industry Globalization.
• Example 6 – Technological Globalization.
• Example 7 – Banking Industry Globalization.

The information and communication technology (ICT) is a leading factor in the emergence and process of globalization. ICT has also affected the social and cultural, environmental, and economic aspects of globalization in many countless ways. The world economy is connected thanks to ICT and a global economy has emerged.

¤ greater flexibility, efficiency and speed. ICT has significantly reduced the costs of outsourcing and co-operation and has thus contributed to the increase in networking among firms. It is also a key technology for speeding up the innovation process and reducing cycle times.

The change brought by the ICT has enabled people to send messages instantly unlike before in which sending a message would really take some significant time and effort. Additionally, people can now talk verbally to each other regardless of the distant locations through phone calls.

Our society has become more accustomed to having the benefits of ICT, which has changed the way people live and interact with one another. People have incorporated ICT into their everyday lives, such as using cell phones to make calls, withdrawing cash out of the ATM, or using the computer to browse the internet.

ICT changed the world in a way that we are now able to communicate easily through technology. It changes the way that it also give us the opportunity to do our professions. It helps the society to produce more jobs that will create progress to our country. When ICT came out, it turns the impossible to possible.

ICT can enable disadvantaged individuals and communities to participate in the national and global policy decisions that can change their lives and empower them to take actions that can financially, socially, and politically benefit them.