What do you understand by Globalization?

Answer 1

Globalization, or globalisation, is the increasing interdependence, integration and interaction among people and corporations in disparate locations around the world. It is an umbrella term which refers to a complex medley of economic, trade, social, technological, cultural and political interrelationships. The term has been used as early as 1944, however Theodore Levitt is usually credited with its first use in an economic context.

Answer 2

It is the system by which our global economy and as a result national governments operate under. For better or worse, the world is quickly becoming increasingly connected and interdependent. Nations are required to adjust their domestic policy in order to create favorable circumstances for investment. Businesses hold a lot of the cards for how developed any given area can be, but at the same time these businesses have less obligation to their area than ever before.

Individuals can have the greatest amount of mobility that they have ever had in the history of the world. For those who can, there is an oppertunity to act nearly opaquely in the investment world. However, that mobility, which often extends to social mobility, is still not avaiable for very many. The gap between who has the incredible amounts of wealth, and who has no wealth (both absolutly and relatively) will rise.

There are a lot of dualist qualities to the system. Yes information will travel faster than ever before, but action will be taken strongly in favor of the business and not the individual. Oppertunity for some will go hand in hand with exploitation of others. It certainly has its flaws, but at the same time, its what we have...and there are ways to work within the system.

Answer 3

My prejudice opinion is the rich gets richer and the poor gets more poorer plus serious global warming on earth. The rests of the matter are table talking only and nothing has been done.