Definition[ change change source ] Globalization is a term which may be used broadly to mean doing things as distant people do them, or more narrowly to mean complying to global standard s in economy, politics, culture, education, environment or other matters. It describes the way countries and people of the world interact and integrate. Many things have become globalized as people come into contact. Economic globalization is how countries are coming together as one big global economy,  making international trade easier.
About Us What Is Globalization? Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environmenton cultureon political systems, on economic development and prosperity, and on human physical well-being in societies around the world.
Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages.
Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in Map of the Silk Road But policy and technological developments of the past few decades have spurred increases in cross-border trade, investment, and migration so large that many observers believe the world has entered a qualitatively new phase in its economic development.
In the years since the Second World War, and especially during the past two decades, many governments have adopted free-market economic systems, vastly increasing their own productive potential and creating myriad new opportunities for international trade and investment.
Taking advantage of new opportunities in foreign markets, corporations have built foreign factories and established production and marketing arrangements with foreign partners.
A defining feature of globalization, therefore, is an international industrial and financial business structure. Technology has been the other principal driver of globalization. Advances in information technology, in particular, have dramatically transformed economic life.
Information technologies have given all sorts of individual economic actors—consumers, investors, businesses—valuable new tools for identifying and pursuing economic opportunities, including faster and more informed analyses of economic trends around the world, easy transfers of assets, and collaboration with far-flung partners.
Globalization is deeply controversial, however. Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people.
Resistance to globalization has therefore taken shape both at a popular and at a governmental level as people and governments try to manage the flow of capital, labor, goods, and ideas that constitute the current wave of globalization. To find the right balance between benefits and costs associated with globalization, citizens of all nations need to understand how globalization works and the policy choices facing them and their societies.
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To read this page in Spanish, click here.Proponents of globalization argue that this is not because of too much globalization, but rather too little. And the biggest threat to continuing to raise living standards throughout the world is not that globalization will succeed but that it will fail.
KOF is an acronym for the German word "Konjunkturforschungsstelle" meaning: Economic cycle research institute. The KOF Index of Globalisation is an index of the degree of globalisation of countries. It was conceived by Axel Dreher at the Konjunkturforschungsstelle of ETH Zurich, Switzerland.
Globalization is the process of increased interconnectedness among countries most notably in the areas of economics, politics, and culture. McDonald's in Japan, French films being played in Minneapolis, and the United Nations are all representations of globalization.
Globalization is the way that local or national ways of doing things become global, that is, done together around the world. It is about economics . A Brief Description of Globalization. FOR ONLY $/PAGE.
Order Now. IN DEFENSE OF GLOBALIZATION The term “globalization” has become a catchall term for all manner of political, economical, social, environmental, and cultural change.
In Defense of Globalization, Jagdish Bhagwati, the term “globalization” refers to the . Globalization Introduction Globalization is the worldwide movement toward economic, financial, trade, and communications integration.
Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers.