Define globalization?

Question

Define globalization?

Answer 1

Globalisation in its factual sense is the progression, the development and the route of transformation of local or regional things or phenomena into global ones. It can also be used to illustrate a course by which the people of the globe are unified into a single society and function together. This route, the progression and the development are a combination of economic, technological, socio-cultural and political forces. Globalisation is often used to refer to economic globalisation, that is, integration and addition of national economies into the worldwide economy through trade, foreign direct investment, capital flows, migration, and the spread of technology.

Answer 2

Free movement of wealth ( goods, services, money and money related forms of wealth) from one part of the globe to the other part of the globe without much hinderance by way of law or politics. Remember wealth always moves from higher concentration to lower concentration and human behavior has no role in this.

Answer 3

Define globalization?

Dramatic internationalisation or Globalisation is the accelerated integration of previously marginalised societies (culture convergence (homogeneity) the 'Modernisation' of world society) as well as the increased worldwide interdependence (integration) of most economies (local and national) and the globalise economic activity (global economy).