Significance of Place in the Context of Globalization Assignment

Significance of Place in the Context of Globalization - Assignment Example Among the many movements, globalization had and is also having a major impact in various places or parts of the world. Globalisation literally means the transformation of local phenomena into a global one and when Doreen Massey’s conceptualization of place is analyzed from globalization context, it is clear that place cannot be a static and it will become a ‘global’ sense of place or even a global village or place. So, this paper will analyze how the advent of globalization is turning our globe into a global village, with boundaries between places and countries being erased or merged and how it is impacting the social place. Globalisation is a practice of interacting and mixing or assimilation among people, companies and governments of different places or countries whose signature feature is international industrial and financial business structure. Globalisation may be thought of as the widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritually. More formally, globalization can be categorized as a process that embodies a transformation in the spatial organization of social relations and transactions (Wiley, Nandi & Shahidullah 1998, p. 21). Hyperglobalism conceive globalization as a new age of economic integration that is characterized by open trade, global financial flows as well as multinational corporations. Hyperglobalism is driven by capitalism, communications, and transportation technology, integration into one world market and it is increasingly eroding state power and legitima cy. However another perspective is, and one that spans the entire politico-ideological spectrum - consists of what might be called the hyper-globalists, who argue that we live in a borderless world in which the national.