Understanding Globalization and its Future: An Analysis

Abstract

Globalization is a complex and dynamic phenomenon. What make this
phenomenon more complex are the contradictory justifications on the
origin of globalization, conflicting ways of defining the phenomenon
and differing viewpoints on globalization dimensions. This paper tries
to provide definitions of globalization which support its historical
development perspective. History has provided some details about
ground breaking events in different eras of globalization. Various
dimensions of globalization are also available in this study. Brief
description of each dimension is given for understanding globalization
from different aspects. Last and most important part of this paper is
comprised of current events, statistics, reports and trend analysis
which help in predicting globalization’s future. Future is forecasted
based on available facts and figures. Conclusively, the result of all
discussion on future of globalization is that it will survive and
gradually grow with respect to all aspects. Stage is set for enhanced
globalization. Although it has pros and cons, it is on our part to
support, facilitate and encourage positive impacts of globalization,
while searching ways to minimize or discourage its drawbacks.