The World as a Global Village

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The World as a Global Village The term "Global Village" refers to the widening and deepening of the global system. The International Monetary Fund (IMF) define globalisation as "The increasing integration of markets both for goods and services and for capital." The world village also has a hidden metaphor. It implies a small space in which people live, one where they know everything about everyone and everything that happens. It can be argued that there are a total of seven factors contributing to the globalisation movement. The first element is the breakdown of the post-War economic order with the oil crisis of 1973-4. This led to the second point, the liberalisation and deregulation of the financial institutions in the 1980s and 1990s. Thirdly, the collapse of the Communist systems of East and Central Europe in the 1990s meant that there could be greater integration throughout the world. As a result of the collapse, Germany could be reunited; therefore the economic power of the West could be integrated with the East. Furthermore the rise of the "Tiger economies" in Asia and the Far East have made an impact because it enabled the production of goods for the lowest possible price. The deepening debt crisis of the Third World has brought globalisation to the fore. One aspect of globalisation is the technological changes and advance. This can be summed up easily by the example of Satellite Television that beams similar media across the world. It is only a small number of international organisations that control the stations. So it can therefore be argued who g... ... middle of paper ... ...and of the market cannot flourish without the hidden fist." This concept is one of US economic imperialism, a country with a McDonald's is not considered to be an enemy of the West, and for example Moscow only had an outlet after the collapse of Communist rule. However, the culture of the different religions shows that although they do have a McDonalds it is not completely the same, not completely global. In India, where the cow is considered a sacred animal, most people do not eat beef. At this particular restaurant" This demonstrates both cultural and religious differences across the globe.[1] Another argument against the theory of the world being a "global village" is the fact that the world consists of many and sometimes conflicting religions. [1] Harding L, The Guardian, Thursday 28 December, 2000, pp4

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