Globalization Definition Essay Example

All definitions of globalization have key components that are responsible for the globalization that we observe today. These certain factors that are necessary to adequately define the term cannot be summed up with a one word or simple phrase definition. Globalization is elaborate and has evolved tremendously over the past century. In order to break this term down to the core and give it a simplistic definition we must focus on what main events have occurred throughout this past century to make globalization such a widely used term and popular current event. Globalization certainly has a history but the term itself is constantly modernizing and a proper explanation of the word should reflect more of its modern roots. Therefore globalization is most accurately defined as the increase of Westernization/modernization of the world. This explanation sums up its current relevance and it contains historical reasoning as well.
The events following World War II had a great impact on the Westernization of the world. America solidified its status as the primary hegemonic figure and following that globalization flourished. This occurrence along with Ronald Reagan’s policies sparked a tremendous change in the way countries do business and how America was transformed into a global leader. Reaganomics changed America throughout the better part of the eighties and opened up neoliberal practices that continue to dominate international order today. These practices haven’t necessarily positive for the world in an overall standpoint but it is how events have transpired. Any time the wealthiest countries and companies become wealthier while the weak become weaker something is clearly flawed. That is how these neoliberal practices conducted by Reagan have evolved. Globalization in this regard hasn’t been beneficial to the world as a whole but in the future weaker countries will begin to prosper more. A recent event that supports this was the agreement of the Group of Eight (G8) at its