This has encouraged entrepreneurs to venture into business opportunities. Compared to the 50s, many economies have grown exponentially. For example, China has been a notable economy rising fast (OECD International Trade Statistics, 2010). The reason behind China’s rocketing economy is its investments in foreign direct investments (FDI). China has continued to make investments in other countries and is currently the leading country in terms of revenue from the foreign direct investments. So has globalization created a new world order?
An individual needs to have the meaning of ‘new world order’ to answer the question. New world order generally refers to change in the global trend. New world order summarizes the numerous explanations of common human behavior across the entire world. Globalization has made it possible for people all across the world to communicate and share with each other (James, 2009). The fact that, majority of the people worldwide are affected by globalization, directly or indirectly, make globalization a trend setter or a common factor in the world.
Hence to state that globalization has created a new world order makes complete sense. Globalization affects every economy in the world regardless of the economics’ strength and stability. Big economies have invested in other smaller economy. Developing nations have strengthened their economies due to the revenue gotten from international trade. The new world order has also improved on the living standards and lifestyles in the developing countries (James, 2009). One of the fundamental economic factor that globalization, or the new world order, has had a major influence is the creation or jobs.
Ranging from countries based investments to multinational corporations; the job opportunities have life easy for ‘the worker’. Question 2; Globalization is Dead? Globalization can be the cultural, economic or social interaction between two or more people from different origins. To date, people travel globally as tourists to other counties. The major attraction in tourism is culture. People love to explore cultures in form of art like; music, paintings, dancing and publications (Norris, 2009).
The mode of dressing has made the fashion industry boom to become a multi-billion industry. Artistic ideas continue to be exchanged all over the world. Due to the high levels of technology, one does not need to leave his motherland to experience this cultural interaction. One can simply access the internet and other sources of information media that are available to them. Economically, businesses still strive to find new markets. Both large scaled, and small scaled, businesses have and continue to be created due to the endless interaction of people.
Investors from foreign countries invest in a country; hence, improving the individual’s lives. Ideas also borrowed from other countries also become successful ventures. Globalization continues to create business and trade opportunities that help in develop any economy or the livelihood of any person (Keith, 2006). Socially globalization has made changes in the way of life. Some social occasions like sporting events promote the interaction of people from different origin. Olympics have over the years been a prominent sporting event that attracts athletes from all over the world.
In some European and Latin countries, street festivals attract millions of tourists. Among the many globalization elements, socially, religion is the most spread among the world population. People have and continue to change their religious belief (Elliott, 2009). This is as a result of the infinite interaction of pe
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