Six Important Developments Since 1970’s That Started The Era Of Globalization

I. The eventual of the soviet bloc
In this era, world order was changed into uni-polar from bi-polar that creates its huge impact in world politics. The US(only super power) creates itshegemonic impact in the politics and economy of the world that we see latter in Afghanistan and Iraq, this type of un-balance power promotes the element of terrorism in the world. The role of World politics also faced huge responsibility after the demolish of cold war the focus of world politics was more on the trade, human rights, culture and environment.

II. Era of crises:
The thrust of globalization process somehowdents the economic stability of welfare states while keeping balance in employment opportunities. The tax collection process was started in Britain (1979) to enhance economic globalization. The transformation of economic systems from socialism to capitalism also modifies the scenario of world politics.

III. Liberalization of International exchange
This is the boom era of trade and finance, after 1986 the economic markets started to develop very rapidly due to the transformation of multinational firms into globalize markets and the transformation of economic emergence of East Asia in industrialism and technology at global level. The economic progress also proved healthy environment for the third world countries to invest their resources.

IV. Advancement in communication and Data processing technology
The accessibility of Internet and other communication devices promotes the transformation of goods with more security and productivity, the era of communication provide enough facility to capture audiences for promotion of goods and services. The most important thing regarding this era is the connectivity of people that belongs to different regions.

V. The era of Electronic media
Social media plays its vital role to made this world ‘Global Village’ and this is fact that due to electronic media the transformation of value and culture made its wide effect on different regions and this thing also cause cultural conflicts due to the un-healthy representation of different ethnic, religious, sectarian sentiments.

VI. The era of integration intensifies around the world
This thing also involves illegal transition of goods like money-laundering, drugs, smuggling etc. To control such type of stuff,(mostly in western countries) there are particulatr institutes to demolish such illegal networks.