College Essay Example: How Globalization of Commercial Operations Impacts Local Settings

Globalization started in ancient antiquity, on the advent of increased use of the wheel in land transportation and ships in overseas exploration and trading. Globalization in modern times grew in relation to the significant improvement in communications such as satellites and the internet, and modes of transportation such as bulk shipping containers and cargo airplanes. “By the 19th century, European conquest and imperialism interwove Western economies with others worldwide more deeply than ever before … while the world economy itself became almost completely devoted to capital accumulation” (When Did Globalization Begin?, no date) Thus, globalization in modern times grew in relation to the significant improvement in communications and modes of transportation. The needs and wants of a bigger society grew with population while resources dwindled. Such condition catalyzed the expansion of trade, initially with adjacent villages, and now the almost usual half-way-around-the-world import and/or export. Even the advancements in communications has led to revolutionizing the power of media in everyday life. “Early economists would certainly have been familiar with the general concept that markets and people around the world were becoming more integrated over time.” (When Did Globalization Begin?, no date). Notice presently how even just verbal speeches, terrorist threats or elections in one country could sway global stock trading.

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