GLOBALIZATION PHENOMENON AND ITS EFFECTS
GLOBALIZATION PHENOMENON AND ITS EFFECTS

Summary/Abstract: Globalization is a word that probably heard and used by everyone in all regions of the world. The developments in communication, telecommunication, transportation and logistics opportunities brought by the information and the age of technology geographical boundaries can easily be crossed. The world has almost turned into a “global village” and this transformation caused positive and negative effects in economic, social, cultural, political dimensions for nation-states, institutions, societies and individuals. This impact and transformation built a “New World Order” as this new order created an environment of uncertainty. The future anxiety caused by this uncertainty triggers social discomfort and even chaos. Globalization is designated as both the cause and the outcome of this new world order. Globalization phenomenon, used for the first time to define the global root-to-branch transformation in 1833, was the center of discussion ever since its introduction to academic circles. This study analyzes the globalization phenomenon with its essential features, and the concepts and systems it transformed will be evaluated with a holistic approach.

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