Globalization

Globalization is the free movement of capital, goods, services and labour around the world, by big commercial companies, which have massive control of the world's economy, transcending the boundaries of state and country. This transcendence across countries results in the shrinking of the economy and results on it depending on larger companies with a controlling interest in most of the capital within it. This global control of capital comes through the transference of operations from "superpower" economies, to third world countries. This transference takes place for purely economic gains, with companies seeking to take advantage of lower wages and a large unskilled labor force. A very good example of this is the footwear industry, in which footwear giants such as Reebok and Nike, regularly shift their manufacturing base to countries with lower wage scales.

In its essence globalisation involves three interconnecting elements. These are: the transformations of global, economic activity the rehashing of politics to give rise to a new “global politics” and the emergence of a set global culture or “global village” as a result of mass communication.