Good morning everyone present here, today I am going to give a speech on globalization. Globalization is the process of integrating economies and society through the movement of people, products, services, ideas, capital, and money. Connecting in all spheres of human life is the fundamental definition of globalization in its broadest sense. It is the procedure through which other businesses or organizations build their international reputations or begin doing business abroad.
Back when people and businesses first started trading across oceans, globalization was just getting started. During the Middle Ages, the well-known Silk Road connected China and Europe with Central Asia. Governments in numerous nations have embraced free-market economies since the end of World War II and over the past twenty years. They have substantially improved their own manufacturing capacity and opened up a plethora of fresh doors for foreign investment and commerce. People have been able to expand their businesses quickly and effectively because of the discovery of new transportation routes and methods.
To encourage commerce in commodities, services, and investment, the government has lowered all trade obstacles and signed new international agreements. This successful effort has opened up chances for global trade. Companies with these new opportunities create new factories and manufacturing and marketing partnerships with overseas partners in foreign markets. So, a transnational industrial and financial operation is what is meant by “globalization.”
Although globalization has had both beneficial and negative effects on the entire world, we can undoubtedly expect the global economy to continue to grow as a result of this process. Thank you.